December 2020 SF Apartment Magazine by sfaa1917

SF APARTMENT magazine

2020 ELECTION

REFLECTIONS WHAT THE RESULTS MEAN FOR YOU

San Francisco Apartment Association December 2020 / $7.00

“The Top Selling Apartment Brokerage Team in San Francisco with over $4.267 Billion in Sales Totaling 740 Apartment and/or Commercial Buildings and over 14,620 Units”

LE FO

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1601 Beach St ~ List Price: Unpriced 15 Units - (Marina)

4740 Balboa St ~ List Price: $11,000,000 35 Units - (Outer Richmond)

1435-37 Kearny St ~ List Price: $1,865,000 5 Units - (Telegraph Hill)

For More Information, Please Contact:

JAMES DEVINCENTI

BRAD LAGOMARSINO

Executive Vice President/Multifamily Investments

COLLIERS INTERNATIONAL 101 Second Street, 11th Floor San Francisco, CA 94105

Executive Vice President/Multifamily Investments

Visit Us at: www.THEDLTEAM.com

lic. 01058500

415 288 7848 j.d@colliers.com lic. 00951916

415 288 7847 brad.lago@colliers.com

JAY GREENBERG | TRIGG SPLENDA As established and recognized leaders in the San Francisco Apartment Sales Market,

WE ARE HERE FOR YOU. OR

LE OR

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SENIOR DIRECTOR COMPASS COMMERCIAL

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All materials presented herein is intended for informational Purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any descriptions. This is not intended to solicit property already listed.

TRIGG SPLENDA SENIOR SALES ASSOCIATE COMPASS COMMERCIAL

415.308.6560 TRIGG@TRIGGSPLENDA.COM LICENSE: 01484698

SF APA magazine

SF APARTMENT

contents

Features

The Family Safe BY EMILY LANDES

The ABCs of 1031 Exchanges BY DWIGHT KAY & THE KAY PROPERTIES TEAM

DECEMBER 2020 | SF APARTMENT MAGAZINE

Cover Photo: Mayor London Breed Photography by Vivian Chen

PARTM Columns

Membership

Ballot Roundup

Observing Irving

The News

Market View

Mighty Small

BY KILBY STENKAMP

Just Around the Corner

Masters of Disaster

BY JAY GREENBERG

The Bright Side of Vacancies

Legal Q&A

BY EMILY LANDES

Perks in Progress

Rent Board Redux

BY VARIOUS AUTHORS

Singled Out

Calendar

Professional Services Directory

Membership Application

BY THE SAN FRANCISCO RENT BOARD

SF APARTMENT MAGAZINE | DECEMBER 2020

ANYONE CAN MANAGE YOUR PROPERTY. WE’D RATHER PROTECT YOUR INVESTMENT. Berendt Properties is a team of experts—in leasing, maintenance, and city property regulations. So when you choose us, you get people who understand the priority: your bottom line. BERENDT PROPERTIES

Leasing

Management

Project Management

2209 Lombard Street, San Francisco, CA 94123

DECEMBER 2020 | SF APARTMENT MAGAZINE

415.608.3050

berendtproperties.com

magazine

SF APARTMENT

San Francisco Apartment Association Office 265 Ivy Street San Francisco, CA 94102 Tel 415-255-2288 Fax 415-255-1112 Email sfaa@sfaa.org Web www.sfaa.org

SFAA Staff Executive Director Janan New

Deputy Director Vanessa Khaleel

Education Specialist Stephanie Alonzo Marketing Lara Kisich

Member Services Manager Maria Shea

Government and Community Affairs Charley Goss

Accountant Crystal Wang

SFAA Officers President Chris Bricker

Vice President Robert Link Treasurer Jim Hurley

Secretary Mark Henderson

SFAA Directors Eric Andresen, Honor Bulkley, Andre Ferrigno, David Gruber,

VOLUME XXXIII, NUMBER 12 DECEMBER 2020 Published by Hippo Productions Publisher Vanessa Khaleel Editor Pam McElroy

Art Director Jéna Safai

Production Manager Cameron Shaw Tel 415-392-3770

Web www.sfaa.org SF Apartment Magazine (ISSN 1539-8161) Periodicals Postage Paid at San Francisco, California. POSTMASTER: Send address changes to the SF APARTMENT MAGAZINE, 265 Ivy Street, San Francisco, CA 94102. The SF Apartment Magazine is published monthly for $65 per year by the San Francisco Apartment Association (SFAA), 265 Ivy Street, San Francisco, CA 94102. The SF Apartment Magazine is not responsible for the return or loss of submissions or artwork. The magazine does not consider unsolicited articles. The opinions expressed in any signed article in the SF Apartment Magazine are those of the author and do not necessarily reflect the viewpoint of the SFAA or SF Apartment Magazine. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional services. If legal service or other expert assistance is required, the services of a competent person should be sought. Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by the SFAA, express or implied, of the advertiser or any goods or services offered. Published monthly, the SF Apartment Magazine is distributed to the entire membership of the SFAA. The contents of this magazine may not be reproduced without permission. Publisher disclaims any liability for published articles. Printed by Jostens Printing Co. Copyright @2020 by SFAA.

Kent Mar, Neveo Mosser, J.J. Panzer, Bert Polacci, Dave Wasserman

SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

THE NEWS

and Homelessness, Parks, and Streets Bond. The measure arrived on the ballot with the unanimous support of the full Board of Supervisors and Mayor London Breed, and was passed overwhelmingly, with over 70 percent of the vote. Money raised by the general obligation bond will fund a range of services, focusing on acquiring facilities to house and

Ballot Roundup

Read on to learn what the 2020 election results mean for local property owners.

dition to park, open space, recreational facility, and street improvements. Half of the yearly bond amount can be passed through to residential tenants. Voters also handily passed Proposition B to create the Department of

oth 2020 and the 2020

over some of the more impactful Elec-

Sanitation and Streets. Prop. B surely

election season have been

tion Day results for SFAA members.

benefitted from voters wanting to do

long, grueling, and seem-

something about the current condi-

LOCAL

tion and cleanliness of San Francisco

writing, after a week of uncertain elec-

Between ballot measures, hyper-local

streets, as well as the FBI’s charges

tion results, it looks like we can finally

races, and federal and state offices, San

against former Department of Public

call the results of all of our elections:

Francisco’s ballots are notoriously long,

Works’ head, Mohammed Nuru. Prop.

local, state, and federal. In looking at

and the November 2020 ballot was

B won by almost 22 points and will

the local and statewide 2020 election

no different. San Franciscans decided

create a new department and oversight

results, it certainly was a mixed bag for

on 13 local ballot measures, elected 6

commission that is mostly redundant

SFAA members.

members to the Board of Supervisors,

with the current Department of Public

ingly endless, but as of this

and 4 candidates each to the school

Works’s role. While many voters were

While SFAA’s main priority for 2020 was

board and community college board.

enticed to support Prop. B based on

successful—defeating Prop 21—other

Overall, 443,00 ballots were cast as San

its title, political observers also largely

measures that will impact SFAA mem-

Francisco’s turnout rate hit 85%, an

saw Prop. B as an attempt by the cur-

bers were passed at both the state and

estimated 20 percentage points higher

rent Board of Supervisors to limit

local level, and some SFAA-endorsed

than the statewide turnout rate of ap-

Mayor Breed’s power. Time will tell

candidates were elected while others

proximately 66%.

if this new department and structure will be more effective in cleaning and

were narrowly defeated. Overall, the “progressive” wing of the local Demo-

Locally, there was a slate of taxes on the

maintaining San Francisco’s streets,

cratic Party retained its super-majority

ballot, and SFAA joined other pro-busi-

but it certainly doesn’t feel like a good

at the Board of Supervisors, and we can

ness groups in waging a “No New Taxes”

economic time for city government

expect to see a slew of legislation target-

fight and in battling Proposition I, a dou-

to be expanding and creating new,

ing landlords in the coming days, weeks,

bling of the transfer tax for certain prop-

mostly redundant departments.

and months. Indeed, on Election Day

erties. Unfortunately, voters approved

itself, a member of the Board of Supervi-

every tax measure on the local ballot.

Proposition C removed citizenship requirements for members of city

sors introduced legislation attempting

provide services to the homeless, in ad-

to impose a rental registry and landlord

Proposition A is a $487.5 million gen-

bodies like the School Board and City

registration process. Below, we will go

eral obligation bond called the Health

College Board and was passed with

DECEMBER 2020 | SF APARTMENT MAGAZINE

163-167 BELVEDERE ST, SAN FRANCISCO

3221-3223 MARKET ST, SAN FRANCISCO

34-42 ABBEY STREET, SAN FRANCISCO

3 units in Cole Valley

2 units in Upper Market

5 Units in Mission Dolores

$2,495,000

$1,495,000

$2,495,000

977 VALENCIA STREET, SAN FRANCISCO

130 GRAND VIEW AVENUE, SAN FRANCISCO

1678 GROVE STREET, SAN FRANCISCO

Located in the Mission District

3 Units in Eureka Valley

6 Units in NOPA

$1,995,000

$2,295,000

136-138 BAKER STREET, SAN FRANCISCO

1701-1703 BRODERICK ST, SAN FRANCISCO

155 HARRIET STREET #3

2 Units in the Upper Haight

2 Units in Lower Pacific Heights

Live/Work Loft in SOMA

$1,850,000

$2,095,000

$795,000

35-39 PROSPER ST, SAN FRANCISCO 3 Units in Eureka Valley

30 GRAND VIEW TERRACE, SAN FRANCISCO

20 OAKWOOD STREET, SAN FRANCISCO

3 Units in Eureka Valley

3 Units in Mission Dolores

$1,795,000

$2,599,000

$2,195,000

219-223 FILLMORE ST, SAN FRANCISCO

228 FILLMORE ST, SAN FRANCISCO

1834 15TH ST & 91 RAMONA ST, SAN FRANCISCO

3 Units in the Lower Haight

Development Opportunity in the Lower Haight

4 Units Mixed-Use in Mission Dolores

$1,595,000

$2,400,000

$3,295,000

Considering Buying or Selling a Multi-Unit Property? Allison’s focus is on the sale of multi-unit, mixed-use and commercial properties in San Francisco. With over 18 years of experience selling investment real estate, Allison uses her industry expertise to help sellers maximize the value of their properties.

ALLISON CHAPLEAU Vanguard Commercial | Senior Vice President 415.516.0648 | allison@allisonchapleau.com | License: 01369080 ALLISONCHAPLEAU.COM

ALLISON CHAPLEAU

JUST LISTED

SF APARTMENT MAGAZINE | DECEMBER 2020

54% of the vote. Advocates of the mea-

registration fee for businesses with gross

to fill those vacancies. Prop. H’s passage

sure highlighted giving representation to

receipts of less than $1 million by about

is hugely impactful for small business in

non-citizen parents of SFUSD students,

50%. The measure also repeals the pay-

San Francisco, and if it will help maintain

and voters agreed. It will be interesting

roll expense tax beginning in the tax

our commercial corridors and sustain

to see how Proposition C impacts future

year 2021, and incrementally increases

our small businesses, the measure will be

elections for city bodies. Currently, elec-

the gross receipts tax for certain types of

extremely beneficial both for businesses

tions for the School Board, Community

businesses until 2024 or 2025. Although

that are struggling due to the pandemic

College Board, or BART Board of Direc-

the 50% exemption for rent-controlled

and also for landlords who benefit from

tors are largely seen as a stepping stone to

properties will still apply, and while some

the demand and desirability that bustling,

future political office, such as the Board

members may have their business regis-

vibrant neighborhoods, small businesses,

of Supervisors.

tration fees reduced, this measure will

and commercial corridors bring.

increase the gross receipts tax rate fairly Proposition D asked voters whether the

substantially over the next four years.

Proposition I passed handily with 57%

city should create a Sheriff’s Department

The SFAA PAC participated in an effort

of the vote, to the detriment of many

Office of Inspector General and a Sher-

to defeat Prop. F, Prop. I, and the other

SFAA members and to future renters and

iff’s Department Oversight Board, and

new taxes on the ballot, but unfortunately

businesses in the city who may not have

voters resoundingly said “Yes.” The mea-

voters approved all of the taxes, despite

understood the economic impact that

sure passed with almost a supermajority,

the current recession. SFAA members will

Prop. I is predicted to have. While the

with just about 67% of voters approving

have to stay tuned and review the various

measure does not increase the tax rate for

the measure. While SFAA recommended

registration fee reductions and tax rate

properties under $10 million, it doubles

a No vote, preferring to allow our new

increases to see how Prop. F will impact

the transfer tax rate for properties sold

Sheriff to work and institute changes in

their building, gross receipts tax rate, and

over $10 million and would also apply to

the department, the measure was surely

business registration fee. For most mem-

the sale of most of the buildable land left

boosted by the social justice movement of

bers, Prop. F’s passage will mean a sub-

in San Francisco. The “Yes on I” side sent

the summer and by relatively recent news

stantial increase in taxes, implemented

out glossy mail pieces with 555 California

stories documenting disfunction in San

incrementally over the next few years.

(owned in part by Donald Trump) and an offer to tax billionaires, which voters

Francisco’s jail, which is overseen by the Sheriff’s department.

Proposition G would have allowed 16-year-

couldn’t pass up. In reality though, per

olds to vote in local elections. The measure

the city’s own economic analysis, the tax

Proposition E also passed with a superma-

was denied by the voters, by less than one

will actually increase the cost of housing

jority of more than 71% of voters approv-

percentage point.

and the cost of running a business in San Francisco, while also decreasing the real

ing the measure. Curiously, for decades, San Francisco’s city charter has stated that

Proposition H was written in consultation

income of San Franciscans. The city will

the city should always have 1,971 full-duty

with the small business community and

likely feel the effects of Prop. I via higher

sworn police officers. Proposition E erases

was designed to give much-needed flexibil-

housing and commercial rent prices in

that requirement, instead requiring the

ity and a streamlined approval process for

the future.

Police Department and the Police Commis-

small businesses during this difficult time.

sion to evaluate and make recommenda-

The measure will simplify restrictions for

Proposition J is a parcel tax for SFUSD

tions for the appropriate staffing level for

businesses in neighborhood commercial

and comes after a recently passed par-

the Police Department. This should allow

districts, as well as simplify permitting pro-

cel tax for teacher salaries. The measure

the Department to right-size itself, and also

cesses for certain types of businesses.

passed and will change the currently expiring parcel tax from $320 to $288 per

ties into social justice efforts to reduce the amount and types of offenses that Police

In recent months, many members have

parcel. Proposition K would authorize the

are called to assist with.

started to realize that the “neighborhood

city to own, develop, construct, rehabili-

amenities” and neighborhood businesses

tate, or acquire up to 10,000 housing units

Proposition F, the Small Business and

they may have taken for granted are ex-

for affordable housing, but it provides no

Economic Recovery Act, is an overhaul

tremely important to help maintain local

mechanism for doing so. The measure

of the business tax system in San Fran-

demand for housing. When the pandemic

passed resoundingly.

cisco and was part of the slate of taxes

hit and bars, restaurants, and small busi-

that voters approved. Proposition F is the

nesses were forced to close, many renters

Proposition L is another tax, this time on

result of a long-term plan to revise the

began to reconsider their living situa-

a CEO’s salary if the salary is greater than

way San Francisco taxes businesses, but

tion. With the ability to work remotely,

100 times larger than that of the company’s

after the pandemic hit was amended to

and with everything closed citywide,

offer tax relief, particularly to small busi-

we’ve seen an exodus of renters, and it’s

nesses. The measure reduces the business

been difficult for many of our members

DECEMBER 2020 | SF APARTMENT MAGAZINE

The News… continued on page 58

Adam Filly Exceeding Expectations

Apartments | Mixed-Use | Commercial

Thank you to all of my clients for making 2020 another successful year!

SO NOPA | 9 Units

428 15th Ave | Land

Dolores Heights | 5 Units

Mid-Market | 70 Units

Marina | 1 Unit

IN ESCROW

LD North Beach | 10 Units

Potrero Hill | 5 Units

Inner Sunset | 5 Units

NOPA | 13 Units

SO LD

Richmond | 10 Units

AVAILABLE

2727 Polk St | 7 Units

LD SO

SO LD SO

Mission | 2 Units

Rohnert Park | 20 Units

Cole Valley | 10 Units

Nob Hill | 8 Units

1664 Fell St | 4 Units

SO LD

Noe Valley | 6 Units

AVAILABLE

2291 Green St | 5 Units

1041-1043 Alabama | 2 Units

AVAILABLE

SO LD

AVAILABLE

Outer Mission | 10 Units

Now more than ever you need an expert on your side. If you are considering buying or selling an investment property, then call Adam to discuss your goals.

Adam Filly Senior Vice President | m: 415.516.9843 | adam@adamfilly.com DRE 01354775 | www.AdamFilly.com Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed.

SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

MARKET VIEW

Just Around the Corner w r i t t e n b y JAY GR E E N B E RG

Only time—and strong leadership— can tell what the future holds for San Francisco.

lar volume jumped to $220 million in 2016—since then, we have topped $200 million every year, with 2020 being the exception. 2017 and 2018 were banner

hat a year 2020 has

and the 10-plus-unit sector versus the

years, with dollar volume reaching $244

been. We started off

same time period for 2016, 2017, 2018,

million, with another increase to $265

the year with solid

and 2019.

million in 2019. At the end of the third

fundamentals and

quarter in 2020, dollar volume dropped

strong transaction numbers. Then CO-

5-9 Units

below the $200 million mark to $188

VID-19 hit and with it came the shelter-

The average price per square foot has

million in sales volume, a 29% decrease

in-place orders. As the shelter-in-place

bounced up and down over the years,

in a year-over-year comparison.

orders evolved, so did people’s lives

from $564 in 2016, to $521 in 2017, $553

and priorities. Next, we had civil un-

in 2018, and $549 in 2019. This year, we

The number of transactions has re-

rest, and then the fire season hit us.

ended the third quarter with an average

mained steady for the 5-9-unit sector

We all remember waking up that dark

of $570 per square foot, the highest in

since 2016. There were 73 sales in 2016,

Wednesday morning thinking, “What

five years. Gross Rent Multipliers (GRMs)

87 sales in 2017, 77 sales in 2018, and

else can happen next?”

had been on the rise since 2009, and

81 sales in 2019. By the end of the third

now we are retreating from the high

quarter in 2020, there were 60 sales,

Well, for all of us who are still here, life

mark of 21.48 that was set in 2015. The

which is a 5-year low and a decrease of

goes on—we either evolve or we don’t.

average GRM was 18.16 in 2016, 18.23 in

26% in a year-over-year comparison.

These are definitely tough times for

2017, 18.3 in 2018, and 17.22 in 2019. This

owners and agents; we are battling to

trend has continued through 2020, as

10-Plus Units

keep our units full and keep transac-

we ended the third quarter with an aver-

Similar to the 5-9-unit sector, the aver-

tions moving forward. There is good

age GRM of 16.01, which is a low mark

age price per foot has bounced up

news in the reported statistics with

considering the previous year and an

and down in this category as well. The

value indicators remaining fairly steady.

approximate 7% decrease in a year-over-

average price per square foot was $553

The number one issue for us all today

year comparison.

in 2016, $548 in 2017, $633 in 2018, and

is the unprecedented decline in rents

$600 in 2019. By the end of the third

and the exodus from the city. At some

The average cost per unit has also

quarter in 2020, the average price per

point, San Francisco residents will need

jumped around over the reported pe-

square foot was $569. GRMs followed a

to start electing qualified leadership

riod. The average cost per unit through

similar pattern. The average GRM was

to solve the problems that plague this

the third quarter was $488,000 in 2016,

17.14 in 2016, 17.06 in 2017, 18.31 in 2018,

famous piece of land. We have received

$466,000 in 2017, $494,000 in 2018, and

and 16.05 in 2019. In 2020, the down-

some good news from the latest elec-

$491,000 in 2019. Through the third

ward trend continued with the average

tion, and I am hoping that by the time

quarter in 2020, the average price per

GRM coming in at 15.72 times gross.

this article is published the presidential

unit bumped to $500,000, which is a

election results are finalized and we are

new high for the five-year window.

moving forward.

recorded was $178 million (2014). Dol-

The cost per unit had been trending up since 2016, but this has now reversed.

Dollar volume for the 5-9-unit sector

The average cost per unit was $384,000

The following are approximate statis-

(through the end of September) has

in 2016, $394,000 in 2017, and $460,000

tics for January 1, 2020 – September 30,

been very strong since 2016. Prior to

in 2018. This number started to decrease

2020, pertaining to the 5-9-unit-sector

2016, the highest dollar volume we had

in 2019 when the average cost per unit

DECEMBER 2020 | SF APARTMENT MAGAZINE

JOHN ANTONINI + DANIEL FOLEY MULTIFAMILY + MIXED-USE + ADD-VALUE

"Fortune Favors the Bold"

2 0 2 0 S AL E S - Y E A R T O D A T E Address

# of Units

Price

COE

188 Guerrero Street

$2,250,000

Available

1254 48th Avenue

$2,350,000

Available

1649 Market Street

$24,000,000

In Contract

2526 Balboa Street

$1,275,000

October 2020

34 Abbey Street

$2,500,000

October 2020

1435 Grant Avenue

$1,800,000

September 2020

4401 20th Street

$2,000,000

August 2020

334 Noe Street

$2,925,000

July 2020

1360 Green Street

$4,735,000

June 2020

62 Oakwood Street

$2,335,000

June 2020

3941 Irving Street

$1,737,500

April 2020

1251 20th Street

$1,975,000

March 2020

1853 Powell Street

$2,050,000

January 2020

2286 15th Street

$1,465,000

January 2020

F OR S A LE

1254 48th Avenue 6 Units I Sunset District I 4.5% CAP

I N C ON TRA CT

1649 arket treet 64 Residential Units I 6 Commercial Units

John Antonini

Daniel Foley

415.794.9510

415.866.7997

john@antoninisf.com

daniel@danielfoley.com

DRE 01842830

DRE 01866714

SF APARTMENT MAGAZINE | DECEMBER 2020

Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate.

GRMs

20 18 16 14 12 10 8 6 4 2 0

came in at $440,000, and in 2020, we saw another decrease to 424,00 per unit. In 2016, dollar volume for the 10-plus-unit sector hit the lowest mark we’d seen since 5-9 Units

the financial meltdown in 2009, with total

10+ Units

sales coming in at $285 million. Dollar volume increased over the next two years with total sales reaching $455 million in 2017

2016

2017

2018

2019

2020

Source: CoStar Comps

and an astounding $919 million in 2018. In 2019, dollar volume came back down to $436 million, and there was another decline in 2020, with $325 in total sales—a 25% decline in a year-over-year comparison.

Price Per Sq. Ft.

Just like dollar volume, there was a re-

$700

cord low (since the financial meltdown

$600

in 2009) number of transactions in 2016,

$500

with 43 closings. There was an increase

$400

to 64 closings in 2017 and a record-setting

$300

5-9 Units

$200

10+ Units

$100 $0

2016

2017

2018

2019

increase to 81 closings in 2018. In 2019, the number of closings dropped to 50, and then dropped even further in 2020 to 37 closings, a 26% decrease in a year-

2020 Q3

Source: CoStar Comps

over-year comparison. The source of the numbers reported come from Jay Greenberg & Trigg Splenda Compass Commercial, San Francisco Multiple Listing Service, and Costar Comps.

Price Per Unit

$600,000

As an active frontline sales agent who is

$500,000

consistently closing transactions, I can say that nothing is coming easy in this mar-

$400,000

ketplace. And it’d be a mistake to consider

$300,000

any transaction complete until escrow has 5-9 Units

$200,000 $100,000

closed. Pending transactions with all con-

10+ Units

2016

tingencies removed are still being renegoti2017

2018

2019

2020

ated or cancelled.

Source: CoStar Comps

In summary, value indicators for the 5-9unit sector remain steady with a slight drop in GRMs and a slight increase in price per

100 90 80 70 60 50 40 30 20 10 0

square foot and price per unit. Pricing in

Transactions

the 10-plus-unit sector has remained fairly YTD 5-9 Units YTD 10+ Units

category. Dollar volume and number of transactions are off approximately 25% across the board. All things considered—and there is much to consider—I feel like this is good news.

2016

2017

2018

Source: CoStar Comps

steady with slight decreases in each value

DECEMBER 2020 | SF APARTMENT MAGAZINE

2019

2020 Q3

Market View… continued on page 60

THE JONES TEAM Ethical. Human. Local.

1558 Grant Avenue — For Sale 50% Owner financing for 5 years

Iconic North Beach Location known worldwide for restaurants and entertainment

FOR SALE

Mixed use building with 1 Commercial and 4 Residential units 3

15 5 8 G R A N T A V E 5 UNITS

2 of the 4 Residential units vacant

Meticulously cared for by the same family for over 40 years

Low operating expenses with separate utility meters

Contact us for a complimentary valuation on your building — whether buying, selling, or executing a 1031 Exchange, we can advise you on strategy.

Terrence Jones

Isabelle Salvadori

Lic. #01343939

Lic. #01506910

Terrence@TerrenceJonesSF.com

Isabelle@TerrenceJonesSF.com

TerrenceJonesSF.com | 415.786.2216

415.596.0659

Senior Broker Associate

Real Estate Professional

SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

LEGAL Q&A

Perks in Progress w r i t t e n b y VA R IOU S AU T HOR S

As long as property owners comply with regulations, there are benefits to renting to Section 8 tenants. Q. I’m only getting Section 8 entering a contract with both their

applicants for my vacant units. I’ve never rented to a Section 8 tenant before. Is there anything I should know before entering a contract?

power outlet.) However, this higher standard may be a blessing in disguise. While exempt from rent control, other local tenant protections apply. And while landlords are often surprised with liability to unhappy tenants (who may not have been forthcoming about

prospective tenant and the third-party

issues with their housing), the public

government agency administering the

housing agencies’ frequent inspec-

tenant’s rent subsidy. Of course, you

tions ensure that your housing accom-

seem eager to explore this new group

modations remain safe and sanitary,

of applicants, and you have good rea-

to keep your tenants happy, to protect

son. Vacancy rates are up. Rents are

you from liability, and to maintain

down. Fortunately, California voters

market rate rental income. If your only

tenancy will be new to you, but keep in

defeated Proposition 21 (the latest of

applicants are Section 8 tenants, your

mind, a Section 8 tenancy is still a ten-

many challenges to “vacancy decon-

choice is simple. But even if you have

ancy. Of course, you do need to under-

trol”), but San Francisco continues to

a field of candidates, the benefits of

stand the differences so you can comply

impose a disincentive for landlords to

Section 8 tenancies during a pandemic

with the regulations.

set the price cap of their asset at the

will likely outweigh their increased

nadir of the rental housing market.

administrative obligations.

A. Many of the features of a Section 8

First, it is important for you to know And yet the current market is a great

in selecting your future tenants, you

reason to consider Section 8 tenants.

actually cannot discriminate against

Rent control establishes a “base rent” at

Section 8 applicants. California’s

the initial monthly price. The base rent

Fair Employment and Housing Act

increases at only 60% of our regional

protects prospective tenants from

CPI until all “original occupants” vacate.

discrimination against categories like

(On day one, tenants pay market rate,

race, religion, gender, etc. A 2018 case

but many landlords lament the dimin-

reviewed a challenge to a local ordi-

ishing cash flow over time.) However,

nance expanding these protections to

Section 8 rental rates are regulated by

“source of income” (including Section

HUD (not San Francisco), and they

8 housing choice vouchers). The Court

track regional, fair-market payment

about what the Rent Board can and can-

of Appeal in CCSF v. Post upheld San

standards over time, not historic market

not do with regard to rents. In general,

Francisco’s authority to expand these

prices fixed at the outset.

the Rent Board’s jurisdiction extends

protections, and while many were con-

—Justin A. Goodman

that, while you have some flexibility

I understand that I am not obligated to offer a rent reduction, but can tenants successfully argue that their current rent is now above market value through the Rent Board or another forum?

A. There is a common misperception only to ascertain which rent adjustments

fused by the decision (that acknowl-

This protected revenue stream does

are permitted and which ones are not.

edged the State law’s field preemption,

come at a cost; Section 8 tenancies

The Rent Board may not offer opinions

but let a city define the field), Califor-

require heightened habitability stan-

and cast judgments on what constitutes

nia soon followed suit and protected

dards. If a landlord fails an annual

fair or appropriate market rents as to

Section 8 tenants from housing dis-

housing quality standard inspection

new or current tenants.

crimination at the state level.

by SFHA, no rent is owed until the defects are cured. (This could be some-

This means that if a current tenant is

These rules exist for a reason: not

thing as trivial as a single broken stove

paying what may be considered above

every landlord is enthusiastic about

burner or a single malfunctioning

fair market rent, any dispute about

DECEMBER 2020 | SF APARTMENT MAGAZINE

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tions 4 Total Offering Amount $58, Leverage 790,000.00 53.07% Type of Asse t Port folio Offering Stat us Fully

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This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/ operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through Growth Capital Services member FINRA, SIPC Office of Supervisory Jurisdiction located at 582 Market Street, Suite 300, San Francisco, CA 94104. SF APARTMENT MAGAZINE | DECEMBER 2020 17 d return

is not gua

ranteed

and is sub

Fully Funded

ject to avai

lable cash

flow.

Fully Funded

Ways to connect

what ought to be paid moving forward in a depressed marketplace must be settled privately between the property owner and the tenant. The property owner may certainly refuse to lower the rent, and the tenant is free to vacate the apartment once any fixed lease term has expired. As has been written about previously, any rent reduction granted because of market conditions becomes permanent, even once market conditions improve. The only real instance where the Rent Board may opine on fair market rent is when a property owner is seeking to adjust rent because of “extraordinary circumstances,” meaning initial base rent was set very low because of fraud, mental incompetency, or some recognized relationship between the owner and tenant that caused this initial pricing to be well under market value. For example, if you set rent especially lower for a close friend or relative, or if the price point was adjusted because the tenant is also your employee, then perhaps

During the pandemic, you can email SFAA at Member

rent might be able to be increased in the

Questions@sfaa.org to have your questions and concerns

when the tenant first moved into your hous-

future to the fair market level that existed

promptly addressed. You can also follow the happenings of

ing. In this situation, the Rent Board Admin-

your fellow SFAA members and find out the latest in the

of initial fair market rent by viewing what

industry by connecting with SFAA on Facebook. Search

comparable apartments rented for during

San Francisco Apartment Association and “Like” it to add

circumstances dispute, the Rent Board stays

it to your news feed. Follow SFAA on Twitter at www.

ing what is and what is not market rent.

twitter.com/SFAptAssoc.

istrative Law Judge will consider evidence

that time period. Yet absent such a special out of the fray when it comes to determin-

There is a law on the books which may make an owner liable in civil court for imposing a rent increase that is arguably in excess of market rent and designed to force the tenant out of the apartment. This component of tenant harassment makes it unlawful to increase rent “with an intent to defraud, intimidate, or coerce the tenant into vacating the unit” in bad faith. Evidence of bad faith may include, but is not limited, to the following: (i) the rent increase was substantially in excess of market rates for comparable units; (ii) the rent increase was within six months after an attempt to recover possession of the unit; and

Legal Q&A… continued on page 54

DECEMBER 2020 | SF APARTMENT MAGAZINE

Is Your Building

COMPLIANT?

SAN FRANCISCO FIRE CODE 1103.7.6.1 Deadline is fast approaching! Comply by July 2021

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SFfire@aec-alarms.com SF APARTMENT MAGAZINE | DECEMBER 2020

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SF APARTMENT MAGAZINE | DECEMBER 2020

THE FAMILY SAFE written by

E M I LY L A N DE S

“Honesty and Quality” is more than just a motto for family-run AEC Alarms. It’s the foundation of the business and the key to its success. Yat-Cheong Au has held almost every job in the alarm industry: installer, technician, customer service operator and now president of his family’s company, AEC Alarms. But when he was growing up, he never thought a career in the security industry was in the cards, even though his father started the Bay Area institution in the garage back in 1972. As a teenager, working at AEC was something Au did out of duty to help his hardworking parents, not because he was passionate about the work. But when he graduated from UC Berkeley and started looking for opportunities to use his skills to help people, a fortuitous job opening at AEC made him realize the career he was looking for had been under his nose all along. “I knew I wanted to be around people and help solve their problems,” he recalls. “At that time, the sales manager had just quit, and the opportunity presented itself. I was able to take all my prior work experiences and share that with new prospective customers.” Au had already learned the right way to treat customers, prospective or otherwise, by watching his father, Sik-Kee. “My father built the business from the ground up with a truly grassroots mentality. Every customer was special, and we knew each customer by their first name. It wasn’t just about the sale but more about building relationships,” Au says, adding that many of those first customers have now become lifelong family friends. Sik-Kee’s philosophy, both in business and in life, was always “honesty and quality,” Au says. It is still AEC’s motto today, even though Sik-Kee retired to Hong Kong and handed the company off to Au in the 1990s. For Au, that simple phrase can mean anything from vetting suppliers to customizing security systems to fit each client. Those are no small tasks given that AEC provides a full line of tech-savvy

DECEMBER 2020 | SF APARTMENT MAGAZINE

SF APARTMENT MAGAZINE | DECEMBER 2020

life-safety and security services for small

There are ways to expedite the process,

Not only does AEC provide personal

property owners, huge corporations like

but that would lead to an additional cost.

protective equipment to employees, but it

Pinterest and Subway, and civic entities

Au doesn’t want to see his clients add

also began a wellness campaign to donate

like the City of San Francisco.

an unnecessary expense on top of new

and deliver PPE care packages to resi-

equipment costs, which are on the rise

dents and tenants in multifamily build-

When handling multifamily customers, Au

thanks to government-imposed tariffs on

ings. In addition, the company recently

always tells his staff to remember that this

overseas electronics and components.

took on other health-related community

clientele has the difficult task of keeping up

“We are extremely focused on this very

service projects, particularly those that

with a constant onslaught of new legisla-

specific requirement,” Au said. “We’ve in-

were important to its staff. To that end,

tion. He feels their job is to be a resource,

vested in preparing our team to meet this

AEC now matches employee contribu-

making sure that owners don’t miss a regu-

demand and to streamline our process to

tions to the Colon Cancer Foundation and

lation that could be costly down the line.

make meeting this deadline seamless for

has continued its longstanding commit-

apartment owners.”

ment to provide support to Self-Help for

An Approaching Deadline for Owners

Team Spirit

Right now, that means emphasizing SF

Michelle Rogers is an important part of

“It boils down to doing what’s right and per-

Fire Code 1103.7.6.1. These amendments

that team. As the Accounts Receivable

haps goes back a Confucius saying that I’m

were passed by the San Francisco Board

Manager and Cross Functional Team

always reminded of: ‘Do not do to others

of Supervisors in 2017 as a response to

Leader for the last three years, Rogers is

what you do not want them to do to you’,”

the tragic “Ghost Ship” fire in Oakland

responsible for everything from train-

Au says. It also helps that his father, while

and apply to all multifamily buildings

ing and onboarding new employees to

retired, is still his “advisor and confidante.”

with three or more units.

conceiving of and implementing team-

In order to make apartments safer in the

the Elderly, a senior housing facility.

building events to keep AEC’s work envi-

Au emphasizes the importance of giv-

ronment positive and proactive.

ing back to the community, and keeping “honesty and quality” at the forefront of

event of a fire during the night, the new criteria includes a “pillow test.” To pass the

Rogers was drawn to AEC because it is a

everything AEC does. Au believes this

test, an alarm must sound at a minimum of

family-owned business, which reminds

was a winning strategy when his father

15 decibels (dB) over the room’s ambient

her of her own family’s business growing

started the business, and it will continue

decibel level (with a 75 dB minimum re-

up and the winery she started with her

to guide the company in the years ahead.

quirement) at the resident’s pillow, regard-

husband back in 2007. “At AEC, there is

“As long as we treat our customers right—

less of where that may be in the room.

sense of pride and ownership in every-

by giving fair, honest pricing and provid-

thing, and I appreciate and respect that

ing quality products and services—we

Even more important than the decibel level

from Yat-Cheong,” she said. “He cares

have a business that will be sustainable

is the frequency at which it sounds. Stud-

deeply about the business, his employ-

and lasting,” he said. “As we near our 50th

ies have shown that 520 Hertz is the best

ees, and the success of his family’s legacy.

anniversary, I can confidently say that

frequency to rouse sleepers. So even most

I am honored to stand beside him as a

these guiding principles form the founda-

existing fire alarms that are loud enough

friend and employee.”

tion of our business.”

Given COVID concerns, part of being

Emily Landes is a freelance writer and editor and the former editor of SF Apartment Magazine.

will still need to updated to include this lower frequency.

a good employer, especially one that AEC has been working with owners on

performs “essential work” like AEC,

installing these low-frequency alarms in

is making sure that your employees

all sleeping spaces, including living rooms,

are protected when they are out in the

since the legislation was passed. But the

field. AEC had to change the way it

July 2021 compliance deadline is fast ap-

does business to meet both its high

proaching and Au cautions owners that,

standards for service and each county’s

due to staffing shortages and COVID-re-

health guidelines and safety protocols.

lated delays at the Department of Building

“Despite the added cost to provide PPE

Inspection, there’s no time to waste. “Most

and change the way we do things, we

property owners don’t realize the back-

have not passed on any of these costs

log and time needed to secure a fire alarm

to our customers,” Au said, adding that

permit. All work must be permitted and

security systems are in even greater de-

approved by the San Francisco Fire Depart-

mand during these unprecedented times

ment, and the process just takes time at the

when everyone wants to feel especially

permit center,” he says.

secure in their homes.

DECEMBER 2020 | SF APARTMENT MAGAZINE

Mike Stack

Real Estate Advisor

Call or email me today for a free & private analysis of your property’s value.

415.580.9095 mikestack@vanguardsf.com MikeStackSF.com DRE# 01932 2 8 0

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ABC s of 1031 EXCHANGES written by

DW IGH T K AY & T H E K AY PROPE R T I E S T E A M

Everything you need to know when considering a 1031 exchange. Welcome to 1031 101! If you’ve come to our “class” here, you likely have a few questions. Chief among them: What is a 1031 exchange? What qualifies for a 1031 exchange? Why should I do a 1031 exchange? What should I 1031 exchange into? Is there an option if I have a failed 1031 exchange?

What Is a 1031 Exchange? A 1031 exchange is a procedure that allows the owner of investment property to sell and acquire another “like-kind” property while deferring capital gains tax. The name comes from IRS Section 1031 and has morphed into a verb in the investment real estate world—as in, “Let’s 1031 this property for that one.”

What Qualifies for a 1031 Exchange? While the idea is a simple one; the execution is a bit more complex. There are very specific definitions and timeframes to which users must adhere to qualify for a 1031 exchange. The most important thing to keep in mind just might be how to define a “like-kind” property. That doesn’t mean you must exchange one apartment complex for another; there’s actually considerable flexibility there. For instance, you can sell an apartment complex and purchase a retail building; you can sell a retail building and purchase an industrial building; you can sell an industrial building and purchase raw land; etc. However, you can’t exchange a property for a business, for example. It’s also worth noting that a 1031 exchange can only involve property held for investment, not personal use, and to maximize the benefits of a 1031 exchange, the replacement property should be of equal or greater value than the original. What’s often forgotten in the lead-up to an investment property’s sale is how quickly the 1031 clock starts. After that sale, you have 45 days to choose (aka: identify) a property with your qualified intermediary (the escrow-like company that holds your exchange proceeds after you sell your relinquished property). From there you must close on that property within 180 days of the sale to qualify for the 1031 benefits.

DECEMBER 2020 | SF APARTMENT MAGAZINE

SF APARTMENT MAGAZINE | DECEMBER 2020

Why Should I Do a 1031 Exchange?

reimburse you for them. Our firm has

8,700 qualified tracts scattered around the

You know the saying about death and

owned many triple net properties over

country. By investing your capital gains

taxes? Well, at least you can defer one of

the years, and we need full-time asset

in a Qualified Opportunity Zone Fund,

those with a 1031 exchange. Typically,

management, accounting, and legal teams

you can defer any taxable gain until the

when you sell an investment property,

to look after the triple net properties and

fund is sold, or until December 31, 2026,

you’re subject to several different taxes.

run them efficiently. For an investor to

whichever comes first. Five years in, you

But by trading one like-kind property for

think that the triple net property option is

receive a 10% step-up in tax basis with an

another via a 1031 exchange, the IRS lets

a passive endeavor is wishful thinking!

additional 5% step-up after seven years. Hold the fund for at least ten years, and

you defer a considerable amount of taxes. If, as an investor, you are looking for a

the new capital gains taxes generated

Without a 1031 exchange, you can be

fully passive exchange option, Delaware

from the opportunity fund investment are

taxed at a rate of 25% on all depreciation

Statutory Trusts (DSTs) are potentially a

slashed to zero.

recapture. Depending on your taxable

good option. A DST is an entity that holds

income, you would owe federal capi-

title to a piece of real estate and investors

The 1031 exchange is a valuable tool in

tal gains tax of at least 15% and as high

are able to buy in for typically $100,000

the real estate investor’s toolbox, and

as 20%. On top of that is the state capi-

minimum investments. DSTs are used by

with proper planning and understand-

tal gains tax, which is anywhere from

investors to build a diversified portfolio

ing, the investor can utilize the features of

0-13.3%. Lastly, there is a 3.8% Medicare

for their 1031 exchanges. They can, for

this piece of the tax code, which has been

surtax as well.

example, in an exchange with $1 million

around since 1921. To learn more about

of equity purchase five different DSTs in

1031 exchanges and your 1031 exchange

What Should I 1031 Exchange Into?

$200,000 increments. The investor may

options utilizing DST, NNN, and Oppor-

We’ve already established that you must

purchase $200,000 in a DST that owns

tunity Zones, visit www.kpi1031.com. You

exchange your investment property for

a long-term net leased FedEx building,

will also, upon registering, be sent a free

a like-kind property. However, there are

$200,000 in a DST that owns a long-term

book on 1031 exchanges.

many different options for you to execute a

net leased Amazon building, $200,000 in

1031 exchange.

a debt-free multifamily DST apartment

Kay Properties is a national Delaware

building in the Nashville metro area,

Statutory Trust (DST) investment firm.

The most obvious is trading one property

$200,000 in a DST that owns 1,000 mul-

The www.kpi1031.com platform provides

you manage for another. An example: you

tifamily units among three properties in

access to the marketplace of DSTs from over

sell a duplex and purchase a commercial

three different states, and lastly $200,000

25 different sponsor companies, custom

building. In that instance, you’re maintain-

in a DST that owns a long-term net lease

DSTs only available to Kay clients, indepen-

ing your role as landlord, which comes with

industrial building.

dent advice on DST sponsor companies, full due diligence and vetting on each DST

responsibilities such as repairing issues, dealing with individual tenants, property

Additionally, the trust’s sponsor is the as-

(typically 20-40 DSTs) and a DST second-

management, asset and property level ac-

set manager of the property, and handles

ary market. Kay Properties team members

counting, and processing rent. The role of

reimbursements from tenants, daily

collectively have over 115 years of real

the investor is very involved.

needs, repair issues, processing rent and

estate experience, are licensed in all 50

invoices, etc. This provides investors with

states, and have participated in over $15

A slightly more passive approach is to

a truly passive approach to their 1031 ex-

billion of DST 1031 investments.

exchange into a triple-net property. In

change and a change in lifestyle from the

this case, you’re leasing your property

active duties of property management.

to a tenant who often agrees to pay the

DSTs are also a great backup plan to keep

majority of expenses associated with

in mind due to the 1031 exchange’s tight

the property; these can include taxes,

timeframe. Because the trust already

insurance, and maintenance. But it does

owns the properties, transactions can of-

not mean the investor just gets to kick

ten be completed within just a few days.

back. You are still often responsible for ing coordinating and paying for repairs,

What If I Have a Failed 1031 Exchange?

paying property tax bills, and process-

If a 1031 isn’t on the table for you (for

ing invoices. The situation differs from a

whatever reason that might be), the Tax

standard lease in that you are then billing

Cuts and Jobs Act of 2007 created a new

the tenant for those expenses and now

way to defer, reduce, and in some cases,

tasked with the fun job of tracking down

eliminate long-term capital gains taxes:

the tenant and getting them to actually

Opportunity Zones. There are more than

those many needs of a property—includ-

DECEMBER 2020 | SF APARTMENT MAGAZINE

Online!

Find more information on SFAA classes, apartment industry news & excerpts from SF Apartment Magazine at www.sfaa.org

SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

MIGHTY SMALL

Observing Irving w r i t t e n b y K I L BY S T E N K A M P

Honoring the ups and downs of this columnist’s fearless friend and his career in the San Francisco rental market.

Street. Irving loved garage sales and spent his weekends finding supplies for his projects. He claimed to be the first green builder in San Francisco. He found inexpensive labor and at times

hat a long, strange trip

the ship, he met Doc, who would soon

did some of the work himself. This

it’s been. This year

become his business partner. He made

was the beginning of many more pur-

has been interest-

it through the Summer of Love, and

chases with Doc, Mary Alice, and many

ing—no doubt about

in 1968, while volunteering with the

other partners. Based on a handshake,

it—and it’s not over yet. The inspiration

McCarthy for President campaign, he

he would partner with plumbers,

for many of my articles has been my

met another soon-to-be partner, Mary

contractors, realtors, and just about

good friend, business partner, and cli-

Alice. Within a few years, he had met a

anyone that made sense.

ent, Irving. Irving owns a nice portfo-

wide variety of lifelong friends and a

lio of San Francisco rental properties.

cast of colorful characters.

Irving’s parents had him later in life, and his father passed away when he

I often refer to him as one of the last cowboys. In the 1960s, he was fearless,

Irving’s mother, Rose, gave his three

was just eleven years old. He and his

jumping right into purchasing prop-

older siblings $5,000 as a start when

mother moved into a three-flat build-

erties without any real estate back-

they got married. She knew Irving

ing in Boston with his sisters, each one

ground. Not all went as planned, but

was struggling in San Francisco, and

occupying a floor. By then his sisters

for the most part, he did well.

so she decided she would go ahead

had married and had kids of their own.

and give him $5,000. She confided in

There was never a dull moment, and

Sadly, I must report Irving is at home in

his older sisters her concerns that he

someone was always around.

hospice—but it makes me happy to also

would never marry, that he’d become

report that was able to cast his vote in

a communist, and that he’d share the

One of the reasons for Irving’s success

the 2020 election first. He will leave a

$5,000 with his friends. Well, he didn’t

is his ability to get along with everyone;

sizeable estate in local real estate assets.

share a dime; instead he made his first

he is a people person. He is a colorful

purchase on Winfield Street in Bernal

character, constantly singing jingles

I spoke with him yesterday, and

Heights. The Winfield purchase worked

from radio shows. One of my favorites

he fondly remembered driving his

out so well that he partnered with

was Bucky Beaver Circus Star’s New

clunker from Boston to San Francisco

Doc on another Bernal property on

Ipana; if you have time do a quick

in 1964. “San Francisco has been very

Prospect Avenue. His banker told him

Google search, I recommend watching

good to me,” he said. Before he landed

that doctors were an easy loan. Frank

the vintage video. Whenever he would

his first job selling Chronicle subscrip-

Sinatra’s niece lived in one of the units

get mad, though, you’d know it. He

tions over the phone, he took every

and the other was vacant. The property

could be furious one minute and then

bus route in San Francisco from start

was leaning into the neighboring prop-

your best friend the next, but he rarely

to finish to learn the lay of the land.

erty and they got a construction loan

held a grudge. For the most part, he got

He had a number of other odd jobs,

to make repairs. Once completed, they

along with his tenants and even formed

including working at Doggie Diner,

rented the property, refinanced, and

friendships with some of them. He was

Macy’s, and Emporium. Even then it

paid off the construction loan.

never overly aggressive with rents and preferred that tenants stick around for

was a struggle to pay rent in San Fran-

a neighboring property on Winfield

cisco, so he decided to join the Navy

While Doc was pleased with the re-

a while as vacancies cost money. I’ve

before he got drafted. After the Navy,

sults, he wasn’t ready to jump into a

always maintained that sooner or later

he joined the Merchant Marines where

new venture. Irving called up Mary

anyone who owns property in San Fran-

he worked on a transport ship going

Alice—she had a full-time job and so

cisco has a story to tell—Irving certainly

back and forth to Vietnam. While on

could get a loan. Together they bought

does. He has all kinds of tall tales, some

DECEMBER 2020 | SF APARTMENT MAGAZINE

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of which should not make it to print. The

said there are three factors that are trigger-

one that really sticks out is the infamous

ing property owners to sell. One, there are

cat-breeding tenant who was also an attor-

more vacancies. Two, vacancies are harder

ney. They went many rounds and ultimately

to fill right now. Three, property owners

ended up in a jury trial. Fortunately for

are getting tired of the politics. Well-priced

Irving, she represented herself and lost. The

properties that are properly marketed are

whole event was very stressful for him; he

selling, and there are plenty of well-quali-

really didn’t think he would win.

fied buyers in the market.

He’s had his fair share of COVID-related

The election results have investment-

rental issues, but nowhere near what

buyer confidence up. Proposition 21 was

some landlords have experienced. Irving

defeated by a 20% margin, striking down—

has been very fortunate; he’s owned most

for the second time in recent years—ef-

of his properties for a while. There have

forts to enact more restrictive forms of

been a handful of vacancies, only a few

rent control and abolish Costa Hawkins.

payment issues, one rent reduction, and a

The defeat of Proposition 15, which would

boatload of repairs due to tenants being

have changed commercial and industrial

home during quarantine. He’s had the

property tax law, is also perceived as the

most movement in a property consisting

best outcome for landlords.

of one-bedroom units, where the major-

Legal

’s

Get Answers.

ity of tenants were techies who can now

I know that if Irving was able to look at

work from anywhere.

properties right now, he would be. I also

Irving still talks about buying property. He

ing. When one door closes, another opens.

was particularly fond of 2-4-unit buildings

He would be disappointed that we’re not

and, with rare exception, that’s what he

touring properties, for the time being.

invested in. He bought and sold in any mar-

Pre-COVID, he would show up at my office

ket. This year’s market has been interesting;

every Tuesday. He particularly liked seeing

we’ve got great rates available, a pandemic,

open homes that served lunch. On Sundays,

and an election year. Property is still selling.

he religiously read the real estate section of

In a year-over-year comparison or even a

the newspapers. When he wasn’t shopping

comparative market analysis for a particu-

for property, he was taking care of his own.

lar property, I’m using a shorter timeline

He made his rounds, broom in hand. He’d

as opposed to the six-month default on the

wear his signature sweats and a threadbare

Multiple Listing Service. For the purpose of

sweatshirt. People who didn’t know him

this article, I pulled sales from September

would often wonder who he was. He paid

and October of 2019 and 2020. Last year,

close attention to his properties, and that

there were 73 properties that sold during

was the true key to his success.

answers your questions about

Kilby Stenkamp is a realtor at Vanguard Properties. She can be reached at kilby@vanguardsf.com or 415-370-7582.

your property, your tenants and

know he wouldn’t be worried about sell-

this timeline, this year there have been 61; I don’t consider this a huge disparity. Price per square foot for properties sold during the timeline in 2019 was $686.39; this year price per square foot is $692.67. In 2019, days on market were at 52; this year, this number is 46. The average sale last year was $2,218,712, while this year the average sale price is $2,135,180. There is a healthy inventory right now, which helps balance the scale for buyers— and they are out there. Allison Chapleau is a top agent in multi-unit sales and her positive outlook on the real estate market is refreshing. She kindly took my call to discuss her opinion of the market. She

DECEMBER 2020 | SF APARTMENT MAGAZINE

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SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

MASTERS OF DISASTER

The Bright Side of Vacancies w r i t t e n b y E M I LY L A N DE S

Find out the connection between turnovers and lower utility costs.

are charged a small percentage of the overall bill tend to lower their utility us-

ith people working,

Instead, to combat rising costs during

age. Simply being aware of how much

cooking, and largely

a time of flattening rents, consider add-

they are using can actually lower that

spending their days

ing a ratio utility billing system (RUBS).

usage by 15 percent.

at home, and with

RUBS is an inexpensive and easy way

home schooling a reality for the fall and

to make tenants financially responsible

RUBS in Rent Control

beyond, utility bills nationwide are on

for their usage and incentivize conser-

Some property owners are also con-

the rise. In California, year-over-year

vation. These software solutions do not

cerned about the legality of instituting

residential energy use is 15 to 20 percent

require an onerous submetering system,

a utility billback program. However,

higher since shelter-in-place restrictions

and they easily, legally, and affordably

barring a few municipalities, RUBS is

went into place, according to the Califor-

allow owners to shed up to 90 percent of

legal throughout California—even in

nia Public Utilities Commission.

ever-rising utility costs.

rent-controlled jurisdictions and even

At the same time, rents are flattening

Communication Is Key

or decreasing in many locations across

Although RUBS has many benefits,

Richmond, and Santa Monica all have

the state. Listing service Zumper shows

owners are often concerned about how

restrictions on RUBS and the program

that rents are down about 11% in San

to best institute the program in their

cannot be instituted there.)

Francisco as a whole, but that decline

buildings, especially given the need

could be closer to 20% depending on

to be sensitive to tenants currently in

In rent-controlled jurisdictions, RUBS

the neighborhood, with the downtown

economic crisis. It has never been more

must be instituted on turnover. A recent

core being hit hardest by fleeing young

important to have a clear communica-

SFAA survey shows that the vacancy rate

tech workers.

tion strategy that explains the goals of

among member properties is now 11.5%,

the program to residents.

four times what it was prior to the pan-

With over 7 million in California filing

with the rental increase limits imposed by the state legislature last fall. (San Jose,

demic. While an increase in vacancies

jobless claims since businesses began

The idea is to make residents aware of

is not typically thought of as a positive

closing in March, many are moving in

the costs of water, power, and other

trend, increased turnover does allow

with loved ones to save money or leav-

precious natural resources, and provide

for new opportunities to begin a RUBS

ing the state altogether. This trend could

incentive to conserve. Additionally,

program in your building. Remember,

lead to an even bigger drop in demand

clarification should be made that the

owners will not have this ability again

in the months ahead.

program passes through the costs of the

during the course of the tenancy.

utilities actually used by residents. It is It’s safe to say that many owners may be

not a profit center for a landlord.

feeling the squeeze of dropping rents

Even upon turnover, when RUBS is implemented the fluctuation of costs must

and rising vacancies. It might be tempt-

Plus, owners can bill back as much—or

be capped to avoid violating any restric-

ing to include utilities in the monthly

as little—as they want to during these

tion on the number of rent increases in a

rent in an effort to attract renters. But

uncertain times. That could mean a

12-month period and any increases over

that short-sighted plan could cost own-

temporary “goodwill deduction” for

the permitted amount. This cap should

ers A LOT in the long run.

struggling residents. Even tenants who

be reasonably related to the actual costs.

DECEMBER 2020 | SF APARTMENT MAGAZINE

The Most Recognized Talent In The Industry. San Francisco’s #1 Apartment Broker

San Francisco Los Angeles 415.890.0704 compass-cre.com

SF APARTMENT MAGAZINE | DECEMBER 2020

sfaa sfaa 2021 What You Need to Know

It should be clearly communicated that the point of the cap is to benefit residents by passing on savings when costs are lower than the cap. Owners may also need to consult applicable federal and state laws and applicable regulatory agreements for any specific project or concern. (For specific legal advice, always consult an attorney.)

Rely on an Experienced Team

2021 SFAA UPDATES

Because of the legal complexities, property owners should consult with a RUBS provider knowledgeable of the regulatory landscape in their area. When the owner

UPCOMING CLASSES

has a clear goal and works with the ven-

During the pandemic, the monthly SFAA member meetings and classes will be held virtually. For member meeting topics and schedules, go to www.sfaa.org. For a list of virtual SFAA classes, turn to the calendar on page 46.

properly document the mechanics of the

dor to put together a program and then program, there is less chance that costly mistakes will be made. If owners attempt to put a billback system in place by using generic forms and without notifying and educating tenants properly, the results can be disastrous. Tenant push-

SFAA OFFICE CLOSURE The SFFA office will remain closed during the shelter-in-place mandate. However, SFAA staff is working round-the-clock to keep the nonprofit running. Timely payment of membership dues is necessary to help the association help you. Email MemberQuestions@sfaa.org to have your questions and concerns promptly addressed.

back and refusal to pay are both common outcomes of this scenario. Choosing a trustworthy, experienced utility management provider will assist greatly in this regard. In the end, there will be a functional RUBS program that starts adding value to the property immediately without undue stress for the owner or residents. Remember, utilities are not fixed costs. In fact, they tend to just go higher and higher over time. So, including utilities in the rent is a losing proposition in the long term. This is especially true in rent-controlled markets where owners may not unilaterally change the terms of the lease after it has begun. If utilities are included at the start of the lease, they can never be made the tenant’s responsibility no matter how long the tenant stays in the unit. This long-term losing trend is compounded while there are more people in more apartments all day long, using precious resources like water, creating more garbage and recycling, and

San Francisco Apartment Association

constantly charging their devices.

265 IVY STREET | SAN FRANCISCO, CA | 94102 | PHONE 415-255-2288 | FAX 415-255-1112 Masters of Disaster… continued on page 55

DECEMBER 2020 | SF APARTMENT MAGAZINE

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Speak Up!!

5/20/11 1:16 PM

about SFAA Tell SFAA what you think of the services that it offers. You’ll be helping SFAA reach new members by telling prospective members about your firsthand experience!

Please take a few moments to answer the questions below (please be as specific as possible): •

Would you recommend SFAA services and products?

•

What is the biggest benefit that SFAA provides?

•

How has SFAA helped you with your rental property?

•

What do you like most about SFAA?

Email your answers to Maria Shea at maria@sfaa.org with the subject line, “Speak Up!” Be sure to include your member name and SFAA ID number. Also, let us know if we may use your testimonial in future SFAA marketing materials. SF APARTMENT MAGAZINE | DECEMBER 2020

COLUMN

RENT BOARD REDUX

Singled Out w r i t t e n b y T H E S A N F R A NC I S C O R E N T B OA R D

4000 Block of Cesar Chavez Street The tenant’s petition alleging a substan-

If a single-family home has an unpermitted and unrented in-law unit, is it then considered a rentcontrolled duplex?

tial decrease in housing services and fail-

Editor’s Note: The following San

The attorney for the landlord told the

the landlord failed to perform requested

Francisco Rent Board cases are real,

Board that the tenant petitioners volun-

repairs required by law.

though they have been edited for space

tarily terminated the tenancy and va-

and clarity. They have been selected

cated prior to filing the petition, so they

On appeal, the landlords argue that a

to highlight some of the more interest-

were not “tenants” as defined by the

temporary interference by a landlord

ing cases that the board reviewed at

Rent Ordinance and do not have stand-

while undertaking to perform reason-

its recent commission meetings. For

ing to file the petition and forfeited their

ably necessary repairs and that restrict-

full rent board agendas and minutes,

right to file a petition at the Rent Board

ing access to 9% of the backyard does

please visit sfrb.org.

when they vacated. He said that two of

not constitute a substantial decrease

the three tenants of the co-tenancy filed

in housing services; that the tenants

100 Block of Madison Street

the petition, and argued that the over-

delayed repair of the retaining wall

The tenants’ petition alleging an unlaw-

payment being granted to only two of

in order to benefit from the use of the

ful rent increase was granted. The ALJ

the three tenants was improper. He said

backyard; that ordering a rent reduction

found that notwithstanding the legal

that the property should not have been

is a violation of the landlords’ constitu-

use of the property as a single-family

considered two units, as the other space

tional rights; and that the rent reduction

residence, the actual use of the prop-

in the building had never been rented.

calculation and the ALJ’s finding that the

ure to repair and maintain was granted. The ALJ found the landlords liable to the tenant in the amount of $4,070 for a reduction in the usable size of a back yard due to safety fencing erected near the retaining wall for the period of October 14, 2018 to April 30, 2020, and found that

requested repairs were required by law

erty established that the downstairs and upstairs units are separate dwelling

The landlord told the Board that the

units, and the upstairs unit is therefore

tenant petitioners voluntarily termi-

not separately alienable from the title

nated their tenancy prior to the filing of

The tenant said that the landlords’ ap-

to any other dwelling unit; and found

the petition, so they are not tenants as

peal should be denied as untimely and

the landlord liable to the tenants in the

defined by the Ordinance; and did not

the landlords’ written reasons for the

amount of $14,135.80 for rent overpay-

have standing to file the petition. The

appeal were inaccurate, as one of the

ments resulting from null and void rent

landlord said that the ALJ stated in their

landlords is a lawyer and has extensive

increases for the period from February

memo that this is a newly raised issue,

knowledge of the law. He said that even

1, 2017 through January 31, 2020.

but it was brought up at the May hearing;

if there was a misunderstanding on the

and regarding the amount of rent owed,

landlords’ part, they should have filed

The landlord appeals, arguing that

the tenants did not pay the full amount

the appeal in a timely manner. He said

the tenants failed to prove that the

of rent and the order for the tenant pe-

that the decision and hearing were fair

property is a two-unit property; that

titioners to distribute the overpayment

and that the parties had the time to pres-

the tenants did not have standing to

accordingly doesn’t prevent other co-

ent their case and the facts. He said that

file the instant petition because they

tenants from bringing a similar action,

the landlords offer no new evidence nor

moved out; that the tenant petitioners

resulting in the landlord being liable for

facts, and just restate the case already

named the incorrect landlord; and that

duplicate overpayments. She asked the

made, and don’t offer proof of a proce-

the overpayment amount is excessive

Board to reconsider the decision.

dural error, nor evidence of an abuse of

were an abuse of discretion by the ALJ.

because the rent was shared between multiple tenant occupants.

DECEMBER 2020 | SF APARTMENT MAGAZINE

Decision: MSC: To deny the appeal (5-0).

Rent Board Redux… continued on page 56

sfaa’s

fair housing It is the Owner/Agent’s responsibility to be aware of the laws regarding fair housing. Fair housing practices are not only ethical, they are good business. With discrimination complaints, undercover investigations, and fines and penalties on the rise, it is imperative that all owners and employees are trained to understand and abide by all federal, state and local laws regarding fair housing.

Once you complete the registration you will be sent a separate link to register for the Zoom webinar systems. Upon completion you will be sent the event access ID. DATE & TIME:

REGISTRATION:

COSTS:

Tuesday, December 15 12:00 p.m. to 3:00 p.m.

Contact Maria Shea at 415.255.2288 x110 or maria@sfaa.org.

$85 (Members) $100 (Nonmembers)

webinar sfaa’s Lunch & Learn

Annual Increases Webinar LUNCH & LEARN ANNUAL INCREASES WEBINAR

Confused about doing an annual rent increase? Not sure you can do a rent increase? Come find out on your lunch the answers to these questions This class will be taught by Michelle Horneff-Cohen of Property Management Systems. Once you complete the registration you will be sent a separate link to register for the Zoom webinar systems. Upon completion you will be sent the event access ID. DATE & TIME:

Tuesday, December 1, 2020 12:00 p.m. - 1:00 p.m. COSTS:

Members: $25 Non-Members:$40

REGISTRATION:

Contact Stephanie Alonzo at 415.255.2288 x113 or stephanie@sfaa.org *Credit Card payment required for Non-Members

SF APARTMENT MAGAZINE | DECEMBER 2020

- WHERE SOME SEE PROBLEMS -

Your resource for multi-family purchases, sales, ADU resources, and creative strategic solutions.

Nina Hatvany Luxury Property Specialist nina@ninahatvany.com DRE 01152226 2019 SF-Apartment_Ad_Nina-Hatvany 2.indd 1

DECEMBER 2020 | SF APARTMENT MAGAZINE

- WE SEE SOLUTIONS -

Paul Hatvany Kitchen, Esq. Broker Associate paul@teamhatvany.com DRE 01928433 4/1/2019 11:28:26 AM

sf.0219.rentals-in-sf.pdf

2/6/19

7:16 AM

Landlord & Leasing Agent, A Winning Combo. C

CMY

Having over 25 rental units of her own, Jackie brings first-hand experience as a landlord to all of our Rentals In S.F. clients. Every day, our team endeavors to find qualified tenants for our clients. With an expert understanding of the ever changing San Francisco rental market, we have made it our priority to fill your vacant unit quickly, effortlessly, at market rent and with your ideal tenant! With just one phone call, Jackie will come over to access your needs, appraise your unit, and do all the marketing, prospecting and screening. We then present you with a qualified tenant ready to move in. Call Jackie at Rentals In S.F. to fill your vacancy. It will be one of the best calls you’ll ever make. Just ask all our clients!

Former SFAA winner * Leasing Agent of the Year * Landlord of the Year

SF APARTMENT MAGAZINE | DECEMBER 2020

2021 Winter CCRM Webinar Series Schedule & Registration Course Course Name #

Date

PRICE

Time

Member

# of NonTotal Member Attendees

Series

Full CCRM Series (Value Savings)

PMR100

Introduction to Ethical Property Management

1/12/2021

6PM-9PM

$85.00

$100.00

PMR101

Renting the Property

1/19/2021

6PM-9PM

$85.00

$100.00

PMR102

Beginning and Maintaining the Tenancy

1/26/2021

6PM-9PM

$85.00

$100.00

PMR103

Renewal of Tenancy and Ending the Tenancy

2/2/2021

6PM-9PM

$85.00

$100.00

PMR104

Maintenance Management: Maintaining the Property

2/9/2021

6PM-9PM

$85.00

$100.00

PMR105

Liability & Risk Management

2/16/2021

6PM-9PM

$85.00

$100.00

PMR106

Budget Development and Implementation

2/23/2021

6PM-9PM

$85.00

$100.00

PMR107

Fair Housing: It’s the Law

3/2/2021

6PM-9PM

$85.00

$100.00

PMR108

Professional Skills for Supervisors

3/9/2021

6PM-9PM

$85.00

$100.00

EXAM

CCRM Final Exam

3/16/2021

6PM-9PM

FREE

Class Location Zoom Webinar System Upon registration the Zoom link will be emailed to the student Class is every Tuesday

See schedule below

FREE

Total Due:

To Register

Online: www.sfaa.org Call: 415-255-2288 x.110 Email: maria@sfaa.org

(includes 9th Edition Managing Rental Housing textbook, CCRM binder and Welcome Packet; does not include the $75 CCRM application fee)

Attendee Information: o Member

Attendee Name: Title:

Company Name:

Address

City:

Phone:

Fax:

E-Mail:

Local Association ID Number:

Payment Information: o Credit Card

Zip:

o Mailing Check o Series Invoicing (members only benefit)

Credit card number: Signature:

o Non Member

Exp. Date Name printed:

Cancellation Policy: Cancellations must be made 72 hours in advance for a refund. SFAA does not provide refunds for No-Shows. Non-members must pay by credit card only!!! *Students requesting CalBRE Continuing Education Credits must show picture ID, immediately before admittance to the live offering. CCRM Certification Renewal Policy: In order to keep the certification active, CCRMs must complete twelve hours of continuing education credits & submit a renewal application along with a renewal fee every other year (2 hours of these credits must be in Fair Housing)

caanet.org events@caanet.org

DECEMBER 2020 | SFNinth APARTMENT 800.967.4222 Street,MAGAZINE Suite 1430 • Sacramento, CA 95814 • 980

s r a t S e h t r o f t o o h S December 10th, 2020 10:30 AM - 12:00 PM VIRTUAL

Join us for a Celebration & Inspiration for the year to come! SAN FRANCISCO APARTMENT ASSOCIATION AWARDS SHOW SF APARTMENT MAGAZINE | DECEMBER 2020

sfaa 2 sfaa 2020-2021 calendar December

TUESDAY, DECEMBER 1 Lunch & Learn Annual Increases Webinar Zoom Webinar System 12:00 p.m. to. 1:00 p.m. Members $25 Non Members $40

MONDAY, DECEMBER 7 Board of Directors Mtg. 11:30 a.m.

TUESDAY, DECEMBER 8 Lunch & Learn Small Claims Webinar Zoom Webinar System 12:00 p.m. to. 1:00 p.m. Members $25 Non Members $40

TUESDAY, DECEMBER 15 Fair Housing Webinar Zoom Webinar System 12:00 p.m. to. 3:00 p.m. Members $85 Non Members $100

SFAA MEMBER MEETINGS WILL BE HELD VIRTUALLY UNTIL FURTHER NOTICE DUE TO COVID-19. FOR TOPICS AND SCHEDULES, VISIT SFAA.ORG.

DECEMBER 10 Shoot for the Stars 10:30 a.m. to 12:00 p.m. Zoom Event Free

January MONDAY, JANUARY 4 Board of Directors Mtg. 11:30 a.m.

MONDAY, JANUARY 25 Virtual Member Meeting TBD 1:00 p.m.

DECEMBER 2020 | SF APARTMENT MAGAZINE

join online at sfaa.org or call 415.255.2288

2020 join online at sfaa.org or call 415.255.2288

SAN FRANCISCO’S

RENT BOARD FEE

$25.00

Chapter 37A of San Francisco’s Administrative Code allows the city to collect a per-unit fee for each residential dwelling unit that is subject to the San Francisco Rent Ordinance. This fee defrays the entire cost of operation of the Rent Board. This fee is billed to the landlord each year on the property tax statement sent in November, but the law permits landlords to collect a portion of the Rent Board fee from those tenants in occupancy as of November 1 of each year. A landlord is allowed to collect 50% of the cost of the fee from the tenant. If you have not collected Rent Board fees in the past, you can collect back to 1999. ALLOWABLE RENT BOARD FEE COLLECTABLE FROM TENANTS 2019-2020

$25.00

2018-2019

$22.50

2017-2018

$22.50

2016-2017

$20.00

2015-2016

$18.50

SFAA’S

TENANT SCREENING SERVICE THROUGH INTELLIRENT STEP 1:

Create a free account at sfaa. myintellirent.com/agent-signup. STEP 2:

Invite an applicant to apply via an online application customized to SFAA’s criteria. You can also publish your available rental on Intellirent across mulitple ILSs. RATES

Intellirent is your free, online rental application and property marketing tool, partnered with Transunion to instantly return complete credit reports and nationwide eviction notices. Renters pay the $40 application fee, which covers your costs. For more information, simply create your free account or go to sfaa.org and choose the “Resources” tab. Then select “Tenant Screening.” Please note that the maximum you can charge a tenant for screening services is $49.12. CONTACT INTELLIRENT FOR MORE INFORMATION:

415-849-4400

CAPITAL IMPROVEMENTS

The capital improvement interest rates for 3/1/20 through 2/28/21 are listed below: AMORTIZATION

INT. RATE

MULTIPLIER

7 YEARS

2.1%

.01281

10 YEARS

2.2%

.00929

15 YEARS

2.4%

.00662

20 YEARS

2.5%

.00530

INTEREST ON DEPOSITS Deposits include all tenant monies that the owner holds, regardless of what they are called. At the landlord’s option, the payment may be made directly to the tenant or by allowing the tenant to deduct the amount of interest due from the rental payment. INTEREST ON DEPOSITS PERIOD

AMOUNT

03/01/20 - 02/29/21

2.2%

03/01/19 - 02/29/20

2.2%

03/01/18 - 02/28/19

1.2%

03/01/17 - 02/28/18

0.6%

2014-2015

$18.00

03/01/16 - 02/28/17

0.2%

2013-2014

$14.50

03/01/15 - 02/29/16

0.1%

2012-2013

$14.50

03/01/14 - 02/28/15

0.3%

2011-2012

$14.50

03/01/13 - 02/28/14

0.4%

2010-2011

$14.50

03/01/12 - 02/28/13

0.4%

2009-2010

$14.50

03/01/11 - 02/29/12

0.4%

2008-2009

$14.50

03/01/10 - 02/28/11

0.9%

2007-2008

$13.00

2006-2007

03/01/09 - 02/28/10

3.1%

03/01/08 - 02/28/09

5.2%

$11.00

03/01/07 - 02/29/08

5.2%

2005-2006

$10.00

03/01/06 - 02/28/07

3.7%

2004-2005

$11.00

2003-2004

$21.50

2002-2003

$21.50

CONTACT THE SAN FRANCISCO RENT BOARD FOR MORE INFORMATION

ALLOWABLE RENT INCREASES

2020 – 2021: 1.8%

Effective March 1, 2020, through February 28, 2021, the allowable annual rent increase is 1.6%. This amount is based on 60% of the increase in the Consumer Price Index for all urban consumers in the Bay Area. A history of all allowable increases and their effective periods is provided. ALLOWABLE RENT INCREASES PERIOD

AMOUNT

03/01/20 - 02/29/21

1.8%

03/01/19 - 02/29/20

2.6%

03/01/18 - 02/28/19

1.6%

03/01/17 - 02/28/18

2.2%

03/01/16 - 02/29/17

1.6%

03/01/15 - 02/29/16

1.9%

03/01/14 - 02/28/15

1.0%

03/01/13 - 02/28/14

1.9%

03/01/12 - 02/28/13

1.9%

03/01/11 - 02/29/12

0.5%

03/01/10 - 02/28/11

0.1%

03/01/09 - 02/28/10

2.2%

03/01/08 - 02/28/09

2.0%

03/01/07 - 02/29/08

1.5%

03/01/06 - 02/28/07

1.7%

SAN FRANCISCO RENT BOARD 25 Van Ness Avenue #320 San Francisco, CA 94102 415-252-4600 www.sfgov.org/rentboard

CONTACT THE SAN FRANCISCO RENT BOARD FOR MORE INFORMATION

415-252-4600 sfgov.org/rentboard

415-252-4600

& information

sfgov.org/rentboard

SF APARTMENT MAGAZINE | SEPTEMBER 2020

sfaa professional

services directory 1031 TAX DEFERRED EXCHANGE SERVICES

FIRST AMERICAN EXCHANGE COMPANY 415-244-1339 www./firstexchange.com/ HERITAGE CAPITAL ADVISORS Eric Scaff 415-834-1031 www.heritagecap.com LAWYERS EQUITY EXCHANGE Brian Fogarty 415-701-1234 www.lex1031.com

ACCOUNTANTS

SHWIFF, LEVY & POLO LLP Elizabeth Shwiff 415-291-8600 x232 www.slpconsults.com THOMAS K. JUE CONSULTING Thomas K. Jue 925-628-0069 thomasjue@yahoo.com

ALARM COMPANY

AEC ALARMS Stephanie Chen 408-298-8888 Ext: 121 sc36@aec-alarms.com

ARCHITECTURE

OPENSCOPE STUDIO ARCHITECTS Mark Hogan 415-891-0954 www.openscopestudio.com Q ARCHITECTURE Dawn Ma www.que-arch.com

415-695-2700

ASSOCIATIONS

PROFESSIONAL PROPERTY MANAGEMENT ASSOCIATION J.J. Panzer www.ppmaofsf.org

ATTORNEYS

BORNSTEIN LAW Daniel Bornstein, Esq. www.bornstein.law CHONG LAW Dolores Chong

415-438-7807

415-490-9020

FRIED & WILLIAMS LLP Clifford E. Fried www.friedwilliams.com

LAW OFFICE OF KEVIN P. GREENQUIST Kevin Greenquist 415-977-0444x234 www.ztalaw.com

415-421-0100

MASTROMONACO REAL PROPERTY LAW GROUP Leonard Mastromonaco 415-354-2702 len@mastrolawgroup.com

GOLDFARB & LIPMAN LLP Erica Williams 510-836-6336 eorcharton@goldfarblipman.com goldfarblipman.com GOLDSTEIN, GELLMAN, ET AL, LLP Brett Gladstone 415-673-5600 x 238 www.g3mh.com HERZIG & BERLESE Barbara Herzig bherzig@hbcondolaw.com

415-861-8800

JACOBSON LAW PC Isaac@jacobsonlawsf.com 415-421-0100 KAUFMAN, DOLOWICH, VOLUCK Ashley Klein 415-926-7612 aklein@kdvlaw.com LAW OFFICES OF FRANCISCO GUTIERREZ Francisco Gutierrez 415-805-6508 francisco@gtzlegal.com LAW OFFICE OF MICHAEL HEATH Michael Heath 415-931-4207 Mheath_law@sbcglobal.net THE LAW OFFICES OF KIMBALL, TIREY & ST. JOHN LLP Daniel Kimball 800-525-1690 www.kts-law.com LAW OFFICES OF DENISE A. LEADBETTER Denise Leadbetter 415-713-8680 www.leadbetterlaw.com LAW OFFICES OF SCOTT T. OKAMOTO Scott T. Okamoto 415-766-5871 www.scottokamotolaw.com LAW OFFICES OF DANIEL PICCININI Daniel Piccinini 415-345-8610 danielpiccinini@att.net

415-753-3811

DOWLING & MARQUEZ, LLP Jak S. Marquez 415-977-0444 x232 www.dowlingmarquez.com

LAW OFFICES OF LAWRENCE M. SCANCARELLI Lawrence M. Scancarelli 415-398-1644 www.sfrealestatelaw.com

DECEMBER 2020 | SF APARTMENT MAGAZINE

THE LAW OFFICE OF ED SINGER Edward Singer 650-393-5862 www.edsinger.net

FISHER & PHILLIPS, LLP Jason Gellar www.fisherphillips.com

LAW OFFICE OF JULIANA E. PISANI 415-800-7562 Juliana Pisani Juliana@jpisanilaw.com

DENNIS C. HYDE Dennis C. Hyde hydelaw@pacbell.net

415-409-7611

FRANK KIM ESQ., EVICTION ASSISTANCE Jo Biel 415-752-6070

MCLAUGHLIN SANCHEZ, LLP Michael McLaughlin 415-655-9753 www.msllp.law MILLAR AND ASSOCIATES, APLC James Millar 415-981-8100 x101 Millar-law.com NICHOLAS GOLDMAN LAW Nicholas Goldman 415-350-8740 nicholas@nicholasgoldmanlaw.com O’GRADY LAW GROUP John O’Grady john@ogradylaw.com www.ogradylaw.com

415-986-8500

REUBEN, JUNIUS & ROSE, LLP Kevin Rose 415-567-9000 www.reubenlaw.com TOUR-SARKISSIAN LAW OFFICES Christine Tour-Sarkissian 415-626-7744 www.tslo.com TRN LAW ASSOCIATES Tiffany Norman tiffany@trnlaw.com

415-823-4566

WASSERMAN-STERN David Wasserman 415-567-9600 www.wassermanstern.com WIEGEL LAW GROUP Andrew J. Wiegel www.wiegellawgroup.com

415-552-8230

ZACKS, FREEDMAN & PATTERSON, P.C. Andrew M. Zacks 415-956-8100 www.zfplaw.com ZANGHI TORRES ARSHAWSKY, LLP John P. Zanghi 415-977-0444 www.zatlaw.com

BEDBUG DETECTION

CROWN & SHIELD PEST SOLUTIONSPREMIER Aurora Vidaca 888-970-1927 aurora@crownandshieldpestsolutions.com www.crownandshieldpestsolutions.com SCENT TEK Brent & Kevin Youngblood 415-933-0879 www.scent-tek.com

CLEANING SERVICES

BIO-ONE EAST BAY Sandy Magan info@biooneeastbay.com

510-274-1548

OPTIMUS BUILDING SERVICES Claudia Giraldo 650-290-4607 optimusbuildingservices.com

CONSULTANTS: PERMITS & PLANNING

CENTER FOR SUSTAINABLE ENERGY Sarah Bliss 858-633-8099 sarah.bliss@energycenter.org EDRINGTON AND ASSOCIATES Steven Edrington 510-749-4880 steve@edringtonandassociates.com

CONTRACTORS

AGUILEAR CONSTRUCTION COMPANY Javier Aguilear 707-495-3932 javier@aguileraco.com SKYLIGHT REMODLING Josh Levitan contact@skylight.com www.skylight.com

800-961-2580

CORPORATE RENTALS AMSI Robb Fleischer www.amsires.com

415-447-2020

GOROVERGO Laura Ericson 832-977-6830 laura.ericson@echemail.com www.gorovergo.com

CREDIT REPORTING

INTELLIRENT Cassandra Joachim www.myintellirent.com

415-849-4400

ENERGY SERVICES / GAS & ELECTRIC

GREAT ESCAPE SERVICES Rich Henderson 415-566-1479 www.greatescapeservice.com

FIRE PROTECTION CONTRACTORS

FIRST FOUNDATION BANK Michelle Li www.ff-inc.com

BATTALION ONE FIRE PROTECTION Tim Morse 510-653-8075 www.battaliononefire.com

LENDING / FULL SERVICE BANKS

BELL FIRE AND LIFE SAFETY Marc Belluomin 650-580-5306 bellfire365@gmail.com COMMERCIAL FIRE PROTECTION, INC. Laine Sims 925-300-9534 www.fireprotected.com

415-794-2176

LUTHER BURBANK SAVINGS Gabriel Basso 510-601-2400 www.lutherburbanksavings.com

LENDING / INSTITUTIONS

CHASE APARTMENT LENDING Andre C. Ferrigno 415-644-2171

MAZZY’S FIRE PROTECTION Scott Mazzarella 415-665-5553 www.mazzysfire.com

CHASE COMMERCIAL TERM LENDING Sharon Groenendyk 415-315-8464 www.chase.com/commercialbanking

GARBAGE COLLECTION SERVICES

CHASE COMMERCIAL LENDING Ingrid Marlow 650-737-6212

RECOLOGY GOLDEN GATE RECYCLING Minna Tao 415-575-2423 recologysf.com RECOLOGY SUNSET SCAVENGER Dan Negron 415-330-2911 recologysf.com

HARDWARE GRAINGER Mark D. Sheddon

800-472-4643

INSURANCE COMPANIES

ARM MULTI INSURANCE SERVICES Lisa Isom 866-913-6293 www.arm-i.com BARBARY INSURANCE BROKERAGE Gerald Becerra 415-788-4700 www.barbaryinsurance.com BIDDLE-SHAW INSURANCE SERVICES, INC Greg Holl 415-586-7200 www.biddleshaw.com COMMERCIAL COVERAGE INSURANCE AGENCY Paul Tradelius 415-436-9800 www.comcov.com GORDON ASSOCIATES INSURANCE SERVICES Dave Gordon, CLU 650-654-5555x6972 David.gordon@gordoninsurance.com

ENVIRONMENTAL CONSULTING

INTERNET SERVICES PROVIDERS

P.W. STEPHENS ENVIRONMENTAL Sheri Buenz 510-651-9506 sherib@pwsei.com

COMCAST/XFINITY Michael Juliano www.xfinity.com

FIRE ESCAPE INSPECTION & MAINTENANCE

LAUNDRY EQUIPMENT

415-279-6113

COUNTERPOINTE SRE David Snow 855-431-4000 www.counterpointeSRE.com

AEC ALARMS 408-298-8888 Ext: 121 SFfire@aec-alarms.com

PACIFIC GAS & ELECTRIC COMPANY Sebastian Conn 415-972-5201 www.pge.com

ESCAPE ARTISTS Jabal Engelhard www.sfescapeartists.com

LENDING / FINANCIAL SERVICES

925-495-9922

WASH MULTIFAMILY LAUNDRY SYSTEMS Cathy Barsotti 650-340-8054 www.weblaundry.com

LOCKSMITHS

CROWN LOCK & HARDWARE Joe Schoepp 415-221-9086 WARMAN SECURITY Peter Badertscher www.warmansecurity.com

415-775-8513

MAINTENANCE REPAIR SERVICE

CITY REPAIR SERVICES Fernando Fonesca 415-602-6524 contact@citycarerepair.com MAVEN MAINTENANCE, INC. Craig Lipton 415-829-2207 www.mavenmaintenance.com ONE STOP MAINTENANCE & PROPERTY SERVICES Lupe Villaloblos 408-829-0727 www.sf1stop.com WEST COAST PROPERTY MANAGEMENT Joseph Keng 415-885-6970 ext. 101 www.wcpm.com

MEDIATION

THE BAR ASSOCIATION OF SAN FRANCISCO CONFLICT INTERVENTION SERVICE Matthew Tom 415-782-8940 mtom@sfbar.org

MORTGAGE BROKER THE RINCON GROUP Casey Wright

415-622-7450

ORGANIC WASTE SOLUTIONS

ECOSAFE ZERO WASTE, INC. Daniel Redick 310-569-0624 ecosafezerowaste.com Daniel@EcoSafeZeroWaste.com

SF APARTMENT MAGAZINE | DECEMBER 2020

PAINTING CONTRACTORS KRUITPAINTING, INC. Pieter Kruit www.kruitpainting.com

415-254-7818

PAC WEST PAINTING INC. Brian Beaulieu 415-457-0724 www.pacwestpaintinginc.com PETERS PAINTING SERVICES Peter Pantazelos 415-647-4722 www.peterspainting.com TARA PRO PAINTING INC. Brian Layden www.tarapropainting.com

415-334-3277

PAINTING SUPPLIES SHERWIN-WILLIAMS Khuat Hoang Sw7276362@Sherwin.com

415-576-1043

PEST CONTROL

ATCO PEST & TERMITE CONTROL & HOME RESTORATION Richard Estrada 415-898-2282 www.atcopestcontrol.com CROWN & SHIELD PEST SOLUTIONS-PREMIER Aurora Vidaca 888-970-1927 aurora@crownandshieldpestsolutions.com

property management The following members are SFAA Property Management Members. They fully support the organization and are dedicated to SFAA’s goals. For more information about the benefits of becoming a Property Management Member, contact Maria Shea at maria@sfaa.org or 415-255-2288 x 10. ADVENT PROPERTIES, INC. Benjamin Scott, CCRM 510-289-1184 www.adventpropertiesinc.com

PONTAR REAL ESTATE Merri Pontar 415-421-2877 www.pontarrealestate.com

AMERICAN MARKETING SYSTEMS INC. Robb Fleischer 415-447-2020 www.amsires.com

PROGRESSIVE PROPERTY GROUP Dace Dislere & Joe Gillach 415-515-4329

BERENDT PROPERTIES Craig Berendt 415-608-3050 www.berendtproperties.com CITYWIDE PROPERTY MANAGEMENT Carol Cosgrove 415-552-7300 www.citywidesf.com DEWOLF William Talmage www.dewolfsf.com

415-221-2032

GAETANI REAL ESTATE Paul Gaetani 415-668-1202 www.gaetanirealestate.com GREENTREE PROPERTY MANAGEMENT 415-828-8757 www.greentreepmco.com

PROPERTY MANAGEMENT SYSTEMS Michelle L. Horneff-Cohen 415-661-3860 www.propertymanagementsystems.net REAL MANAGEMENT COMPANY J.J. Panzer 415-821-3167 www.RMCsf.com S&L REALTY Robert Link www.slrealty-sf.com

415-386-3111

STRUCTURE PROPERTIES Corey Eckert 415-794-0064 www.structureproperties.com SUTRO PROPERTY MANAGEMENT, INC. Salman Shariat 415-341-8774 www.sutroproperties.com

PLUMBING SERVICES

C.R. REICHEL ENGINEERING CO. INC. Tim Lordier 415-431-7100 www.crreichel.com R & L PLUMBING Larry Bustillos 415- 651-4977 larry@rl.plumbing www.rlplumbingsanfrancisco.com URGENT ROOTER AND PLUMBING INC. Albert Lee 415-387-8163 urgentrtr@sbcglobal.net

PROPERTY MANAGEMENT

ADVENT PROPERTIES, INC. Benjamin Scott, CCRM 510-289-1184 www.adventpropertiesinc.com ALEXANDERSON PROPERTIES Eric Alexanderson 415-285-3737 www.alexandersonproperties.com AMORE REAL ESTATE, INC Jerry Hsieh 415-567-4800 www.amoresf.com BORN PROPERTY MANAGEMENT Jason Born 650-271-7048 x 111 Jason@bornpm.com BERENDT PROPERTIES Craig Berendt craig.berendt@gmail.com

415-608-3050

BROOKFIELD PROPERTY GROUPPRESIDIO LANDMARK Jon King 855-327-5376 jon.king@brookfieldproperties.com CHANDLER PROPERTIES Carolyn Chandler 415-921-5733 www.chandlerproperties.com CITYWIDE PROPERTY MANAGEMENT Carol Cosgrove 415-552-7300 www.citywidesf.com DEWOLF REALTY CO. INC. William A. Talmage www.dewolfsf.com

415-221-2032

EBALDC Felicia Scruggs FScruggs@ebaldc.org

510-287-5353

EQUITY ONE Brenda M. Obra www.equity1sf.com

415-441-1200

GAETANI REAL ESTATE Paul Gaetani 415-668-1202 www.gaetanirealestate.com

J. WAVRO PROPERTY MANAGEMENT James Wavro 415-509-3456

WEST & PRASZKER REALTORS Michael Klestoff 415-661-5300 www.wprealtors.com

GEORGE GOODWIN REALTY, INC. Chris Galassi 415-681-1265 www.goodwin-realty.com

LINGSCH REALTY Natalie M. Drees www.lingschrealty.com

WEST COAST PROPERTY MANAGEMENT Eric Andresen 415-885-6970 www.wcpm.com

GREENTREE PROPERTY MANAGEMENT Mike McCamish 415-828-8757 www.greentreepmco.com

415-648-1516

PAUL LANGLEY COMPANY Misha Langley 415-431-9104 x 301 misha@plco.net

members

DECEMBER 2020 | SF APARTMENT MAGAZINE

GM GREEN REAL ESTATE INC. George Green 415-608-6485 ggreen@gmgreen.com www.gmgreen.com HANFORD•FREUND & CO. J. Timothy Falvey www.hanfordfreund.com

415-981-5780

ROCKWELL PROPERTIES Mark Kaplan 415-398-2400 propertymanagement@rockwellproperties.com

ALAIN PINEL INVESTMENT GROUP Jay Greenberg 415-593-8615 www.aprinvestmentgroup.com

INCOME PROPERTY SPECIALISTS Clayton Llewellyn 408-446-0848 www.ipsmanagement.cc

SC PROPERTY MANAGEMENT Robert Guglielmi 650-342-3030 bob.guglielmi@scpropsm.com

ALAIN PINEL INVESTMENT GROUP Mirella Webb 415-814-6699 mwebb@apr.com

JACKSON GROUP PROPERTY MANGEMENT, INC. Raymond Scarabosio 415-608-8300 ray@jacksongroup.net

SHARVEST PROPERTY MANAGEMENT, LLC Timothy D. Gilmartin 650-347-2020 tim@thegilmartins.com

BAY AREA PREMIER PROPERTIES Peter Fisler 415-606-6621 www.bayareapremierproperties.com

SIERRA PROPERTY PROFESSIONALS Sonali Herrera sierrappinc@gmail.com

BIG TREE PROPERTIES Evan Matteo 415-305-4931 evan@bigtreeproperties.com

SKYLINE PMG, INC. Nicholas Bowers 415-968-9903 Nicholas@skylinepmg.com

COLDWELL BANKER COMMERCIAL NRT Steven Caravelli 415-229-1367 steven.caravelli@cbnorcal.com

STRUCTURE PROPERTIES Corey Eckert 415-794-0064 www.structureproperties.com

COLLIERS INTERNATIONAL- JAMES DEVINCENTI James Devincenti 415-288-7848 www.THEDLTEAM.com

HOGAN & VEST INC. Simon Wong simon@wongsf.com

415-237-6240

JAMES D. MULLIN REAL ESTATE BROKER James D. Mullin 415-470-0450 jamesdmullinre@gmail.com JD MANAGEMENT GROUP, INC. Jonathan Davis 510-387-7792 jonathan.davis@jdmginc.com LINGSCH REALTY Natalie M. Dress www.lingschrealty.com

415-648-1516

MERIDIAN MANAGEMENT GROUP Randall Chapman 415-434-9700 www.mmgprop.com MW PROPERTY GROUP Marc Wilson 415-640-5807 marc@mwpropertygroupco.com MYND MANAGEMENT, INC. Stacy Winship 510-306-4440 www.mynd.co NEW GENERATION INVESTMENTS Jonathan Ng 415-735-8233 jtng.ngi@gmail.com PACIFIC UNION INTERNATIONAL PROPERTY MANAGEMENT Susan Lucas 415-722-4724 www.pacunionpm.com PAUL LANGLEY COMPANY Misha Langley 415-431-9104 x 301 misha@plco.net PILLAR CAPITAL REAL ESTATE Jonathan Ng (415) 885-9584 jonathan@thepillarcapital.com PONTAR REAL ESTATE Merri Pontar 415-421-2877 www.pontarrealestate.com PRIME METROPOLIS PROPERTIES, INC. Tom Chan 415-731-0303 tomchan@pmp1988.com PROGRESSIVE PROPERTY GROUP Dace Dislere 415-794-9727 www.progressivesf.com PROPERTY MANAGEMENT SYSTEMS Michelle L. Horneff-Cohen, Broker, CCRM, MPM®, RMP® 415-661-3860 www.propertymanagementsystems.net RAMSEY PROPERTIES Brian E. Ramsey 415-474-5175 Brian@RamseyPropertiesSF.com REAL MANAGEMENT COMPANY J.J. Panzer 415-821-3167 www.RMCsf.com ROCKAWAY RESIDENTIAL MANAGEMENT KristineAbbey 650-290-3084 kristine@rockawayresidential.com

SUTRO PROPERTY MANAGEMENT, INC. Salman Shariat 415-341-8774 www.SutroProperties.com THRIVE PROPERTY MANAGEMENT, INC. Giovani Franco 650-296-3880 www.thrivecommunities.com/ W. PROPERTY MANAGEMENT Gary Petrison 707-545-6187 gary@wpropertymanagement.com WEST COAST PROPERTY MANAGEMENT Eric Andresen 415-885-6970 www.wcpm.com WEST & PRASZKER REALTORS Michael Klestoff 415-699-3266 www.wprealtors.com WOOD PARTNERS Melissa Rankin 628-251-1101 melissa.rankin@woodpartners.com

PROPERTY MANAGEMENT SOFTWARE HEMLANE, INC. Dana Dunford dana@hemlane.com

385-355-4361

STESSA Victor Perez www.stessa.com

626-524-4931

YARDI Kelly Krier kelly.krier@yardi.com

805-699-2040

COLLIERS INTERNATIONAL Payam Nejad 415-288-7872 www.colliers.com/payam.nejad COMPASS COMMERCIAL BROKERAGE Adam Filly 415-516-9843 adam@adamfilly.com COMPASS COMMERCIAL BROKERAGE Chris J. Connor chris.oconnor@compass.com COMPASS COMMERCIAL BROKERAGE John Antonini 415-794-9510 john@antoninisf.com CORCORAN COMMERCIAL Jeremy Williams (415) 932-9846 jeremy@jeremywilliams.com jeremywilliams.com CORCORAN GLOBAL LIVING COMMERCIAL Terrence Jones 415-786-2216 terrence@terrencejonesSF.com www.terrencejones.com FERRIGNO REAL ESTATE Chris Ferrigno 415-641-0661 www.ferrignorealestate.com KILBY STENKAMP-VANGUARD PROPERTIES Kilby Stenkamp 415-370-7582 LESLIE BURNLEY Leslie Burnley leslie.j.burnley@gmail.com leslieburnley.com

415-717-8709

YMPG MANAGEMENT Yelena Glezer 415-260-6325 yglezer@ympg-management.com

MARCUS & MILLICHAP David Nelson 415-312-2245 dnelson@MarcusMillichap.com

REAL ESTATE APPRAISALS

MARCUS & MILLICHAP Sanford Skeie 415-625-2153 www.marcusmillichap.com

HARPER & ASSOCIATES Jay Harper JHARPSF@att.net

415-674-9243

MARK WATTS COMMERCIAL APPRAISAL Mark Watts 415-990-0025 www.markwattscommercialappraisal.com

REAL ESTATE BROKERS & AGENTS

ALAIN PINEL INVESTMENT GROUP Mark Bonn 415-614-4354 mbonn@apr.com

NEWMARK KNIGHT FRANK Matthew C. Sheridan 415-273-2179 aptgroupsf.com PACIFIC UNION COMMERCIAL Stephen Pugh spugh@pacunion.com S&L REALTY Robert Link www.slrealty-sf.com

415-386-3111

SHAMROCK REAL ESTATE COMPANY Trent Moore 415-359-2400 www.shamrocksf.com

SF APARTMENT MAGAZINE | DECEMBER 2020

sfaa sfaa 2020 membership application

Thank you for joining the San Francisco Apartment Association. SFAA is dedicated to educating, advocating for and supporting the Rental Housing Community so that its members operate ethically, fairly and profitably. Please consult a tax preparer in advance to determine deductibility for your tax situation. Membership fees are subject to change.

REGULAR MEMBER DUES

Base Fee

Units Fee

1-50

$385 +

$6.45 per unit =

51-250

$475 +

$6.45 per unit =

251-500

$675 +

$6.45 per unit =

501-1,000

$875 +

$6.45 per unit =

1,001

$1,375 +

$6.45 per unit =

TOTAL UNIT AMOUNT:

Unit Fee

1-50

$485 +

$3.95 per unit =

51-250

$575 +

$3.95 per unit =

251-500

$775 +

$3.95 per unit =

501-1,000

$975 +

$3.95 per unit =

1,001

$1,475 +

MIRACLE METHOD OF SAN FRANCISCO Claire Gray 415-673-4211 www.miraclemethod.com

RENT BOARD PETITIONS

PROPERTY MANAGEMENT SYSTEMS Michelle L. Horneff-Cohen 415-661-3860 www.propertymanagementsystems.net REAL MANAGEMENT COMPANY Melinda Greene 415-230-8895 www.RMCsf.com RENT BOARD PASSTHROUGHS Kim Boyd Bermingham 415-333-8005 www.rentboardpass.com

TOTAL AMOUNT:

ASSOCIATE MEMBER DUES: $495

RENTAL LISTING SERVICES

CONTACT INFORMATION

APARTMENT LIST Alex Mashburn 678-467-0411 amashburn@apartmentlist.com

Contact Person Company/Title Address City

State

MAZAL55 PROPERTIES Oren S. Bordo orenb55@gmail.com

Zip

Mobile Phone Email Address

Amex

Visa

3 Digit Security Code

Card #

Expiration Date

Cardholder Name

Billing Zip Code

Authorized Signature

Date HOW DID YOU HEAR ABOUT US?

Referral From

Postcard/Mailer

Magazine

Website

Rent Board

Other

San Francisco Apartment Association 265 IVY STREET | SAN FRANCISCO, CA | 94102 | PHONE 415-255-2288 | FAX 415-255-1112

DECEMBER 2020 | SF APARTMENT MAGAZINE

415-279-2791

RESIDENTIAL LEASING

Website PAYMENT METHOD

Check

REAL ESTATE INVESTMENTS

REFINISHING / RESURFACING SERVICE

$3.95 per unit =

TOTAL UNIT AMOUNT:

ZEPHYR REAL ESTATE Dawn Cusulos 415-678-8854 dawncusulos@zephyrre.com

URBAN GROUP REAL ESTATE Louis Cornejo 415-863-1775 louis@urbangroupsf.com

MANAGEMENT COMPANY DUES Base Fee

WEST & PRASZKER REALTORS Michael Klestoff 415-312-2245 klestoffmre@aol.com

MARCUS MILLICHAP Clinton C. Textor III 415-425-9123 www.marcusmillichap.com

TOTAL AMOUNT:

Units

VANGUARD COMMERCIAL BROKERAGE Allison Chapleau 415-516-0648 www.allisonchapleau.com

ALAIN PINEL INVESTMENT GROUP Trigg Splenda 415-593-8616

MEMBERSHIP LEVEL & COST

Units

STEELE PROPERTIES Ryan Steele 415-881-7762 www.steeleproperties.com

BERENDT PROPERTIES Craig Berendt 415-608-3050 www.berendtproperties.com HAMILTON FAMILY CENTER Mayo Lunt 510-763-8540 x230 www.hamiltonfamiles.org J. WAVRO ASSOCIATES James Wavro www.jwavro.com

415-509-3456

LINGSCH REALTY Natalie M. Drees www.lingschrealty.com

415-648-1516

RELISTO Eric Baird www.relisto.com

415-236-6116

RENTALS IN S.F. Jackie Tom www.rentalsinsf.com

415-409-3263

RENTSFNOW Claussen 415-762-0213 kclaussen@veritasinv.com STRUCTURE PROPERTIES Corey Eckert 415-794-0064 www.structureproperties.com

SECURITY

ADT-MULTI FAMILY Jeanette Mendez jjmendez@adt.com www.adt.com/smart-

562-712-7504

MARINA SECURITY SERVICES, INC. Sam Tadesse 415-722-1168 stadesse@marinasecurities.com www.marinasecurities.com

SEISMIC RETROFIT & STRUCTURAL ENGINEERING BAI CONSTRUCTION Behnam Afshar www.baiconstruction.com

510-595-1994

SGDM, LLC George Mak www.sgdmllc.com

415-462-0619

W. CHARLES PERRY Charles Perry www.wcharlesperry.com

650-638-9546

ad index NEED A PROFESSIONAL

CONTRACTOR OR VENDOR?

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Fried & Williams, LLP One Stop Maintenance Pribuss Engineering, Inc. W. Charles Perry West Coast Premier Construction FIRE ESCAPE SERVICE

Great Escape Fire Escape Services LOCKSMITHS

SUBMETERS

PAINTING CONTRACTORS 415-937-7283

TENANT PLACEMENT & LISTING REALPAGE Stacy Blackwell www.realpage.com

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STRUCTURE PROPERTIES Corey Eckert 415-794-0064 www.structureproperties.com

38 42

CONSTRUCTION & RENOVATION SERVICES

WEST COAST PREMIER CONSTRUCTION, INC. Homy Sikaroudi, PhD, PE 510-271-0950 www.wcpc-inc.com LIVABLE Daniel Sharabi www.livable.com

West Coast Property Management 19

Crown Lock & Safe Warman Security Pac West Painting Tara Pro Painting

PETITION SERVICES

Rent Board Passthroughs

56 56 62 57 55 56 57

54 57 55

PROPERTY MANAGEMENT & MAINTENANCE & RESIDENTIAL LEASING

Berendt Properties Gaetani Real Estate, Inc. Maven Maintenance Real Management Company Rentals in SF Structure Properties

6 64 33 62 43 29

REAL ESTATE BROKERS

Amore Real Estate 54 Coldwell Banker Commercial 31 Colliers / DeVincenti 2 Compass / Antonini 13 Compass / Bonn & Webb 37 Compass / Filly 11 Compass / Greenberg & Splenda 3 Compass / Hatvany 42 Compass / Pugh 35 Corcoran / The Jones Team 15 Corcoran / Williams 25 Dowling & Marquez, LLP 54 Kay Properties & Investments, LLC 17 Marcus & Millichap 20-21 Newmark Knight Frank / S&L Property Management 45 Sheridan & Boersma 63 Vanguard Commercial / Chapleau 9 Vanguard Properties / Stack 24 Vanguard Properties / Kilby Stenkamp 55 UTILITIES BILLING SERVICES

Livable 38 Acceptance of an advertisement by this magazine does not necessarily constitute any endorsement or recommendation by SFAA, express or implied, of the advertiser or any goods or services offered. Advertisers in red are Associate Members of SFAA.

ZUMPER INC. Diana James diana@zumper.com

949-702-1508

WATER CONSERVATION SERVICE

SF PUBLIC UTILITIES COMMISSION Chandra Johnson 415-554-0704 www.conserve.sfwater.org

WATER DAMAGE SERVICE

FIRE AND WATER DAMAGE RECOVERY Maria Neumann 800-886-1801 www.waterdamagerecovery.net

WATERPROOFING

KELLEY PAINTING AND WATERPROOFING Mitchell Kelley 415-847-7883 www.kelleypaintingandwaterproofing.com

SF APARTMENT MAGAZINE | DECEMBER 2020

Legal Q&A… continued from page 18

(iii) such other facts as a court or the Rent Board may deem relevant. Here the issue centers more on existing tenants who are paying rents now considered in excess of the market given the unprecedented drop in rental prices during this past year. As stated above, neither the Rent Board nor any other forum can compel you

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DECEMBER 2020 | SF APARTMENT MAGAZINE

to adjust pricing to reflect market conditions. The choice is yours to make, and please remember to keep in mind that any such rent decrease based upon the market becomes instantly permanent regardless of what happens in the future. —Dave Wasserman The information contained in this article is general in nature. Consult the advice of an attorney for any specific problem. Dave Wasserman is with Wasserman-Stern Law Offices and can be reached at 415-567-9600. Justin A. Goodman is with Zacks, Freedman & Patterson, P.C. and can be reached at 415-956-8100.

Masters of Disaster… continued from page 36

TALENT. COLLABORATION. SUCCESS.

Don’t lose out on the opportunity to make utilities a new resident’s responsibility. Including utilities in a new lease is a shortsighted incentive to attract tenants. What seems like giving a little right now will quickly turn into a lot down the line. If you want to learn more about how to make tenants more responsible for their usage, now is the time to reach out to SFAA Associate Member Livable. This RUBS company has been operating in San Francisco for over a decade and can help you get on the path towards saving up to 90 percent on your utility bills while also motivating tenants to develop more sustainable practices in their utility use.

KILBY STENKAMP

Emily Landes is the content director for Livable and the former editor of SF Apartment Magazine. For over a decade, Livable has been helping multifamily owners recover utility costs and increase the value of their investments through conservation. For more information, check out livable.com or call 877-789-6027.

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Rent Board Redux… continued from page 40

discretion. He urged the Board to deny the appeal and to uphold the decision. One of the landlords told the Board that

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this case is about the neighbor’s parking lot curb falling into their yard, and over the last year they have taken every possible action to work with their neighbors to rectify their situation, and that every engineer who has visited the property has determined that the backyard is safe to use. She said that the safety fence, erected to protect the tenants, blocks less than 10% of the yard, is about three feet wide, and runs along the retaining wall. She said that this case falls squarely under the Golden Gateway case, which held that a landlord who performed reasonably necessary repairs that had the effect of temporarily interfering with a tenant’s full use of housing doesn’t effectuate a decrease in housing services. She said that the safety fence is a temporary measure to ensure the tenants’ safety until a long-term repair can be made to the curb. In addition, she said, she doesn’t feel 9% of the backyard can be a substantial decrease, and she says that she attached photos that the usable size of the yard remains the same, that the safety fence only obscures a portion of the western garden bed, that the entire garden bed plants have been preserved, and that areas for socializing and barbecue are still fully accessible, and that they were acting in the best interests of the tenants in erecting a safety fence. The landlord said that she understands that the Commission has voted to remand the case, and wanted to note that the ALJ’s reduction of $220.00 a month for 9% of shared backyard space results in an illogical rental value of $2,400.00 a month for a backyard shared between three units, and respectfully requests reconsideration, and would note that in the record there was an email from a structural engineer that said the backyard was safe to use, and there was no reason for the rent reduction to go beyond the 9% of the backyard. The tenant stated that the backyard retaining wall was found by the surveyor to be on his landlord’s property and was

DECEMBER 2020 | SF APARTMENT MAGAZINE

deemed by the building inspector to be a dangerous situation, which they lived with for two years with the good faith idea that the landlord would do something about the repairs. He said that there were occasions where large pieces of concrete weighing hundreds of pounds fell down while they were in the backyard and they have felt uncomfortable using the backyard since. He said that the ALJ ruled on a 5% reduction in rent, based on the fact that they would not have rented the apartment but for the backyard, and there was a substantial reduction in services based on the condition in which the landlord left the wall for more than two years. Decision: To accept the appeal and remand the case to the ALJ to recalculate the rent reduction excluding the three-month delay caused by the tenants (5-0). To learn more about the San Francisco Rent Board, call 415-252-4602 or go to sfrb.org. The information contained in this article is general in nature. Consult the advice of an attorney for any specific problem.

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9/18/132020 12:32 57 PM SF APARTMENT MAGAZINE | DECEMBER

SFAA NOVEMBER 2020 RESULTS STATE & LOCAL BALLOT MEASURES

The News… continued from page 10

lowest-paid employee. The measure won overwhelmingly with 65% of the vote.

Proposition 21

Local Rent Control Initialtive

DENIED

Proposition A

Health and Homelessness, Parks and Streets Bond

PASSED

Proposition B

Department of Sanitation and Streets

PASSED

Proposition C

Removing Citizenship Requirements for Members of City Bodies

PASSED

(0.125%) with funding dedicated to operat-

Proposition D

Sheriff Oversight

PASSED

rail service. The measure was necessary to

Proposition E

Police Staffing

PASSED

Caltrain throughout the region.

Proposition F

Business Tax Overhaul

PASSED

Six of the eleven seats on the San Fran-

Proposition G

Youth Voting in Local Elections

DENIED

Proposition H

Neighborhood Commercial Districts and City Permitting

PASSED

Proposition I

Real Estate Transfer Tax

PASSED

Proposition J

Parcel Tax for San Francisco Unified School District

PASSED

Proposition K

Affordable Housing Authorization

PASSED

Proposition L

Business Tax Based on Comparison of Top Executive’s Pay to Employee’s Pay

PASSED

Measure RR

Caltrain Sales Tax

PASSED

As an exception to its “No New Taxes” slate, the SFAA political action committee recommended a YES vote on Measure RR, which passed. Measure RR is a regional measure and authorizes a sales tax of one percent ing and capital purposes for the Caltrain keep Caltrain who can commute south on

cisco County Board of Supervisors were up for election in 2020. Supervisors Pes-

kin, Preston, Ronen, and Safai all coasted to re-election, with only Preston being seriously challenged by SFAA-endorsed candidate Vallie Brown. Peskin and Safai were endorsed by the SFAA in their successful bids for re-election, and we will be able to continue our working relationships with their offices. In District 1, SFAA-endorsed candidate

Marjan Philhour was tragically and narrowly defeated by just 123 votes out of close to 30,000 total votes. Philhour ran a

CANDIDATES

strong, positive, and proactive campaign,

BOARD OF SUPERVISORS

side spending in her race. Unfortunately,

and took pledges early to denounce outoutside money was spent by third parties

District 1 - Connie Chan

both for and against Philhour in the days

District 3 - Aaron Peskin

before the race, with thousands and thou-

District 5 - Dean Preston

sands of dollars being spent to miscon-

District 7 - Myrna Melgar

strue Marjan and her priorities. Along with

District 9 - Hillary Ronen

the dark money against Marjan, a last-minute strategy to run the race’s progressive frontrunner with a failed Republican in a

District 11 - Ahsha Safai

1-2 ranked-choice voting strategy proved

STATE SENATE, DISTRICT 11

to be too much to overcome.

Scott Wiener

In District 7, progressive candidate Myrna

BOARD OF EDUCATION Jenny Lam Mark Sanchez

Kevine Boggess Matt Alexander

COMMUNITY COLLEGE BOARD Shanell Williams Tom Temprano

Aliya Chisti Alan Wong

Melgar narrowly beat out SFAA-endorsed Joel Engardio when all the ranked-choice votes were redistributed. Melgar is an ally of the Mayor with progressive credentials

and a pro-housing perspective. She’s served on the city’s Building Inspection Commission and will be in an interesting position on the Board of Supervisors, with allies in

DECEMBER 2020 | SF APARTMENT MAGAZINE

both the progressive and moderate factions

SFAA members to understand that these

of the local government.

issues are not going away, and that the

DONATE TO THE SFAA LEGAL FUND TODAY

time is long past for them to get politically In District 9, Hillary Ronen ran unopposed,

active. As the cost of living has risen in

and in District 11, Supervisor Ahsha Safai

recent years (notwithstanding this year’s

handily ran to re-election over former

pandemic), housing providers should be

During the legislative process,

Supervisor John Avalos. Safai also enjoyed

aware that they are operating in an increas-

SFAA reaches out to members of

support from allies across San Francisco’s

ingly politicized environment. The rental

the Board of Supervisors to ad-

political spectrum.`

housing industry expects to continue to be

dress points of concern, support,

the target of both elected officials and im-

or opposition on any given legisla-

Statewide

passioned tenants’ rights activists, and the

While there were several candidates and

industry and its members must be prepared

measures on the 2020 local ballot which

to protect themselves. Californian landlords

will undoubtedly have an impact on the

and housing providers today simply must

day-to-day lives of SFAA members, for

view political and legal fund donations as

many, the 2020 statewide election was a

a necessary cost of doing business, just like

one-issue ballot: Proposition 21 repre-

paying property taxes and maintaining

sented an existential threat to California’s

the property. If the industry is unable to

rental housing industry. The measure,

sustain continued attacks at the ballot box

which would have effectively repealed

and in the state legislature, being a landlord

tive or policy proposal that impacts rental housing providers. On issues that are particularly harmful for property owners, like the COVID-19 Tenant Protection Ordinance, we’ll mobilize our membership in a grassroots effort to engage members of City Hall.

Costa Hawkins and paved the way for

in California will become a much more dif-

But oftentimes, especially in an

cities to impose vacancy control, was de-

ficult and costly proposition.

increasingly tenant-friendly city, these proposals get voted into

bated furiously in the months before the election, and advertisements from both

In addition to Prop. 21, many SFAA mem-

the No and the Yes campaign dominated

bers were concerned about Proposition

the airwaves up to two months prior.

law anyway. During the legislative hearing on June 8, the Land Use

15, which would reassess commercial and

Committee heard from hundreds of

industrial properties based on fair market

small property owners. In the legis-

Prop. 21 came just two years after its pre-

value. As ofIn the writing of this article,

decessor, 2018’s Prop. 10, and less than one

Proposition 15days after the election, the

year after the California legislature became

measure was too close to call, although

one of the first states in the country to pass

the No side is slightly ahead.but Prop 15

statewide rent control. Both of these fac-

was narrowly defeated.. While Prop 15

tors helped lead to the measure’s defeat, in

exempted reassessing residential space, it

addition to concerns about the measure’s

would reassesshave reassessed commercial

impact on housing production, housing

space in mixed use buildings. Additionally

affordability, and controls on single-family

Prop 15 was widely viewed as the first step

SFAA established its legal fund in

homeowners. Polling just weeks before

to repealing Prop 13, with residential reas-

1998, and when the Board of Su-

Election Day showed the two sides in a

sessments coming next on a future ballot.

pervisors passes ordinances that

lative file, there are 6,000 pages of comments from San Franciscans, almost all from housing providers opposed to the legislation. And yet, the ordinance was approved by a vote of 10-1.

dead heat, and SFAA and CAA had to go

violate our members’ rights, we

back to the well to redouble our fundrais-

So, while by and large the statewide elec-

ing efforts for the measure. The strategy

tion went very well for SFAA members, a

proved to be successful, with the measure

number of taxes were approved locally

failing by almost identical numbers to Prop.

and the makeup of the Board of Supervi-

10 in 2018. In the end, Prop. 21 was de-

sors remains nearly identical to the current

feated by a margin of nearly twenty points:

makeup of the Board, which has passed a

with 59.9% of Californians voting No and

number of anti-landlord measures over the

40.1% supporting the measure.

last several months and years. In 2021 and beyond, its clear that the rental housing

have no choice but to file litigation against the city. In recent years, we’ve seen a pattern of laws being passed that don’t consider or address the perspectives of housing providers. We ask that you donate to the SFAA Legal Fund today. Please write a check to the “SFAA

It’s too early to tell if we will see a “Prop.

industry as a whole will need to become

Legal Fund” and mail it to the SFAA

21 2.0” on a future ballot, but the commit-

more politically active and involved in lo-

office at 265 Ivy Street, San Fran-

tee working on “No on 21” is hopeful that

cal and statewide races.

cisco, CA 94102, to support this ef-

with a resounding result two elections in a row, Michael Weinstein and the AIDS Healthcare Foundation may not be back in 2022. That being said, it’s still important for

Charley Goss is the government and community affairs coordinator for the San Francisco Apartment Association. He can be reached at 415-2552288, ex. 114.

fort and to help build the legal fund to function as a deterrent against future harmful proposals. SF APARTMENT MAGAZINE | DECEMBER 2020

Market View… continued from page 14

more. A $10 million sale will now cost sellers a $550,000 transfer tax. The same sales

The biggest factor shaping current condi-

price in Santa Clara currently cost sellers a

tions in the marketplace today is a continu-

$21,000 transfer tax.

ing deterioration of the rental market that has been fueled by an exodus of residents

Lastly, preliminary results show Joe Biden

from San Francisco as remote work guide-

as the presidential winner. Hopefully by

lines are allowing workers more freedom

the time this article is published, the vote

in choosing where to live. The latest report

and results will be final. I think everyone is

from United Van Lines shows that out-

ready to move forward into a new year.

bound moving requests from the city were 128% above the national average at the

The tech jobs that have been driving our

start of September.

rental market for years are now virtual— for the time being, tech workers are not

Data from Zumper showed a continued

required to be in the region. Our market

yearly decline of 20.3% in median rent

is pending on legislative propositions, the

prices in San Francisco this month, which

presidential election, COVID-19, an ever-

was among the largest yearly decline ever

growing homeless population, and a city

recorded, marking a milestone as prices

government that is unqualified to address

dropped below $3,000 for one-bedroom

the issues they have created. We will have

apartments in the pricey metro.

to wait to see if the market’s current declines are permanent or a short-term trend

ApartmentList data shows that rent prices declined in San Francisco by a larger amount than any other city they track as well. The CEO of Zumper has called the San

in the coming year. For additional information related to any data points and/or market news, please contact Jay Greenberg at jay@jayhgreenberg.com

Francisco price decline “unprecedented,”

options for remote work in the technology sector become widely available. Some companies, like Twitter and Facebook, have given employees the option to work from home permanently. The hand that feeds also takes away. I am writing this article on November 4th and elections results are still being processed. Proposition 21 was rejected again by state voters, which is great news for our industry. If this proposition had passed, we would certainly be dealing with vacancy control when the majority of city tenants/residents are locking in the best units and rents they can find. It also appears that Proposition 15 has been narrowly defeated, which would have made commercial properties exempt from the Proposition 13 tax rate protections that were established in 1978. If Prop. 15 had passed, commercial properties would be reassessed and taxed at current value. San Francisco Proposition I has passed, which doubles the already absurd transfer tax of 2.75% to 5.5% on sales of $10 million or

DECEMBER 2020 | SF APARTMENT MAGAZINE

list ...

Is finding a great

service provider on your To-do List? Check out the Professional Services Directory for experienced apartment

adding that it supports the theory that people are starting to leave the city as

On the

Legal Questions

Get Answers. Confused about local and statewide rental housing laws? Take advantage of SFAA’s legal information network. Before every SFAA General Membership Meeting, a diverse panel of San Francisco landlord attorneys answers your questions about your property, your tenants and the San Francisco Rent Ordinance. SFAA monthly meetings and legal panels are a benefit just for members, so make sure you are getting the most out of your membership and be sure to attend the next virtual meeting.

industry professionals.

starts on page

2020 sfaa rental forms

FORM #

FORM TYPE

3.0

Application to Rent

Member Name Member # Email PRICE

PER 25/ $15

NON-MEMBER PRICE $40 pad of 25

SFAA 2019

SFAA Residential Rental Agreement – 2019

$20 each

10 for $180

$100 each

SFAA

SFAA Non-Rent Control Residential Tenancy Agreement

$20 each

N/A

$100 each

2.0

CAA Rental Agreement (Month to Month)

$15

$40 pad of 25

2.1

CAA Lease Agreement

$15

$40 pad of 25

SFAA

Short Term Rental Notice

$15

$40 pad of 25

2.2

Addendum to Rental Agreement

$15

$40 pad of 25

41.0

Guarantee of Rental Agreement

$15

$40 pad of 25

16.0

Move In/Out Form

$20 pad

$40 pad of 25

7.5

Notice of Initial Inspection to Residents

$15

$40 pad of 25

Protect Your Family From Lead (Pamphlet)

$40 pad of 25

Bay Area Air Quality Management District Wood Burning Hazard

$15

$40 pad of 25

37.0-BA SFAA

Fire Safety Disclosure

SFAA Fire 1

Fire Safety Sign

Prop 65

Proposition 65 Brochure

Prop 65516

Proposition 65 Sign (plastic)

SFAA

Parking Agreement

$15

$40 pad of 25

$20 each

$15

N/A

$15

$40 pad of 25

$20 each

$16 for 3+

N/A

$15

$40 pad of 25

SFAA

Parking Agreement Non-Resident

$15

$40 pad of 25

Storage Agreement

$15

$40 pad of 25

Pet Agreement

$15

$40 pad of 25

60.0

Assistive Animal Request and Documentation Packet

$15

$40 pad of 25

60.1

Assistive Animal Addendum

$15

$40 pad of 25

36.1

Bedbug Notification

$15

$40 pad of 25

36.0

Bedbug Notification Addendum

$15

$40 pad of 25

SFAA

Neighboring Place of Entertainment

$15

$40 pad of 25

PM02

Emergency Procedure Information for Tenants

$15

$40 pad of 25

19.0

Twenty Four Hour Notice to Enter Dwelling Unit/Premises

$15

$40 pad of 25

SFAA

Thirty Day Notice Change of Monthly Rent

$15

$40 pad of 25

5.2

Sixty Day Notice Change of Monthly Rent

$15

$40 pad of 25

SFAA

Thirty Day Notice Change of Terms of Tenancy

$15

$20 each

SFAA

Three Day Notice to Pay Rent or Quit

$15

$20 pad of 25

SFAA

Three Day Notice to Perform Covenants of Quit

$15

$40 pad of 25

SFAA

Three Day Proof of Service

$15

$40 pad of 25

SFAA

General Proof of Service

$15

$40 pad of 25

2.3

Resident’s Certificate of Terms (Estoppel Certification)

$15

$40 pad of 25

21.0

Thirty Day Notice of Resident’s Intent to Vacate

$15

$40 pad of 25

SRT

Acknowledgement of Residents Intent to Vacate

$15

$40 pad of 25

18.D

Itemized Disposition of Security Deposit

$15

$40 pad of 25

SFAA

Security Deposit Interest

$15

$40 pad of 25

8.0

Notice of Belief of Abandonment

$15

$40 pad of 25

9.0

Notice of Right to Reclaim Abandoned Personal Property

$15

$40 pad of 25

10.0

Notice of Right to Reclaim Abandoned Personal Property ($700 or more)

$15

$40 pad of 25

PUBL

Managing Rental Housing in California Reference Guide (Book)

$50 each

$120 each

On-Site Employee Agreement (set)

$15

COST

pick up only

SFAA

1.2

QUANTITY

$40 pad of 25

SFAA Members can download and access forms directly from the SFAA and CAA websites. Please log in to account, go to Resources and click Downloadable Forms.

Internal Order Date: Use Only

Taken by: Credit Card

Cash

Prices listed are for SFAA members

Check

Invoice

Sub-Total: 8.75% Tax: Postage Flat Rate:

• Prices differ for non-members • All sales are final

San Francisco Apartment Association

265 IVY STREET

TOTAL:

SF APARTMENTWWW.SFAA.ORG • SAN FRANCISCO, CA • 94102 • PHONE 415-255-2288 • FAX 415-255-1112 • MAGAZINE | DECEMBER

2020

VALUE-ADDED DEVELOPMENT

Contact : charles@wcharlesperry.com 415.509.2956

W. CHARLES PERRY & ASSOCIATES I N V E S T M E N T, D E S I G N A N D C O N S T R U C T I O N

DECEMBER 2020 | SF APARTMENT MAGAZINE

274 SHORELINE HWY - 4 UNITS - $2,150,000

Another Good One — Just Listed! Ideal investment property in the heart of Marin County. Situated in the Almonte Neighborhood, this mid-century four-plex is comprised of 4 large onebedroom units, 4 garage spaces, and comes with on-site laundry, private decks and quaint rear yards. Coyote Creek and Bothin Marsh lie nearby, while Tam Junction’s retail shops are adjacent. Location affords quick access to bike paths and Highway 101. Units are in original condition and provide solid upside opportunity.

www.274shorelinehwy.com

• Mill Valley Investment Property • 4 Large Units; 2 One-Bedrooms & 2 Two-Bedrooms + Office • Almonte Neighborhood • Tucked Under Garage Parking • Private Balconies & Small Rear Yards • On-Site Laundry • $537,500 / Unit

MATTHEW C. SHERIDAN 415.273.2179 License 01390209 matthew.sheridan@ngkf.com

aptGroup

MATT THOMSON

650.515.6555 License 01471708 matt.thomson@ngkf.com

TO MOST PEOPLE, THIS BUILDING’S KEY FEATURE IS ITS IMPRESSIVE FACADE

TO YOU, IT’S THE FOUNDATION FOR A SECURE RETIREMENT. We know the properties we manage mean more to owners like you than meets the eye. That’s why, for over 70 years and across three generations of our own family, we’ve taken the long view -- building great working relationships as we build value. Because when it comes to taking care of your investment, we definitely see eye-to-eye.

gaetanirealestate.com 415.668.1202