I don’t own rental property, nor am I a renter. However, here is an example of why I care about unacceptable restrictions on private property ownership:
What happens if our elderly parents have to move out of their homes into a care facility? How will we pay for their care? Their homes would have to be rented out for income, and we’d need as much rental income as much as possible in order to afford their care.
Earlier this week, the California Association of REALTORS (C.A.R.) issued a large-scale Red Alert, asking those of us represented by Democrats in the Assembly to call our legislators to express our concerns about two bills, AB 1481 and AB 1482, that together imposed unacceptable regulations on rental property owners. AB 1482 would have imposed a very restrictive rent cap and AB 1481 would have created an expansive “just cause” eviction right.
Last night, due in large part to REALTOR calls to legislators, C.A.R. was able to successfully negotiate a deal with the bills’ authors on amendments that allow C.A.R. to remove its opposition. This compromise strikes a balance between preserving the rights of rental property owners while allowing the protection of at-risk tenants. Of particular concern, small property owners are protected, and the reach of both bills are limited with a sunset date of 2023. These amendments will be made to the bills once they move to the Senate.
AB 1482 passed the Assembly last night and AB 1481 is still pending.
Here are the amendments that C.A.R. negotiated:
Amendments to AB 1481 – “just cause” evictions:
-Will only apply to tenancies after 12 months; and
-Will limit relocation assistance for “no-fault” evictions to an amount equal to one month of the tenant’s current monthly rent.
Amendments to AB 1482 – Rent cap:
-Will increase the cap in the bill from 5% to 7% plus regional CPI. (For example, in Los Angeles the full increase would be 10%); and
-Will preserve the right of landlords, through vacancy decontrol, to reset a rent to market rate once a tenant has vacated the unit.
Amendments to both bills:
-Both bills exempt entirely small property owners with 10 or fewer single-family detached homes; and
Both bills sunset in 2023.
Available soon! This 1944 sq ft 4-bedroom home has side access, a huge garage/workshop at the end of a long driveway, two levels of living space and a wheelchair/platform lift for easy access to the upper level. An excellent location with easy access to 880, shopping and recreation!
Property is still being prepped and has not yet been priced by the seller. Estimated date on the market: August 8, 2018. Inquire now for a Sneak Peek!
Located at 1085 Grace Street, this home has a Walk Score of 77 with easy access to Mel’s Diner, Ricky’s Sports Bar, Bayfair Mall and the Bayfair BART station. With 3 bedrooms and 2 bathrooms, this home will be available by June, 2018. Stay tuned for more information!
Now available! CLICK HERE for details. This gorgeous five bedroom home has been extensively renovated. Per the seller, the home has been expanded to 3400 sq ft and has over $600,000 in upgrades:
Permits secured and foundations poured for detached garage with full bathroom and also a studio with full bathroom and rough electrical and plumbing complete. It has new underground plumbing, new underground electrical, new electrical panel with 400 amp, new wiring inside, energy-saving LED lights throughout, new plumbing inside, new HVAC system heat and AC dual Zone, new roof, new paint, custom Milgard windows, stainless steel appliances.
Oh, the views! Located in the prestigious and sought-after historic Prospect Hill neighborhood of downtown Hayward, this home has stunning sunset views. The exterior includes a new retaining wall, in and out drive way, upgraded metal fencing with both gates remote-controlled. New landscaping with palm trees, new stucco with extensive trim work , outdoor deck on the 2nd story which also serves as outdoor living area on the bottom (veranda ) with fans for summer, outdoor kitchen sink installed in veranda. For outdoor and indoor summer comfort, fans are in all rooms and living areas too. Custom closets in all rooms, smooth level 5 paint, luxury bathroom upgrades and custom vanity with mirrors, custom tub /shower combo in master bath, and Jack & Jill bathroom on ground level.
All living areas boast hardwood floors, all bathrooms and kitchen gleam porcelain tiles, and to help protect it all, video monitoring of all entrances and central alarm. Total expense: $600,000 in upgrades .
But wait, there’s more! This home has a wheelchair accessible ramp and two living areas upstairs and downstairs. For the party animal buyer, the home also has a wet bar in the outdoor patio area, in the kitch and in one of the living rooms tucked away in the corner for discretion…
Come visit this estate home in the burgeoning neighborhood with lots of investment being poured into this spectacular downtown Hayward community!
All information has been provided by the property owner. Buyers are advised to fully investigate the property to their satisfaction.