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.
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.
My real estate business partner Greg Jones is someone who happens to be married to me. He has a new “hobby” which he as turned into a business (Jones Art Works) complete with a business license, website, and a whole slew of paying customers already. Naturally, this takes him away from our real estate business, especially right now in the beginning of his new endeavor.
What does this mean for me?
I’ll tell you. It means that after a long day negotiating contracts, setting up our property listing promotions, meeting with clients and fellow agents, attending real estate marketing meetings, continuously learning and honing my skills and knowledge, exhausting myself showing or previewing properties, you bet I expect the dog poop to all be picked up when I come home! I also expect dinner on the table!
Instead of being an adult, however, I’ll go outside and pick up several piles of dog poop and come back in the house bragging (or, er, complaining) about how many piles I found, rather than simply just telling my dear husband that I wish I could come home to a clean poopless yard since after all, he’s been HOME ALL DAY to get it done.
Anyone out there sympathize with me?
Now to the topic at hand. The photo shown here is a corner bedroom on the lower level of our home, in what’s referred to as the “wealth” section, for those of you who are familiar with the basic concepts of feng shui. (I’m half Chinese but that doesn’t mean I know squat about feng shui, other than how to pronounce it.) Anyway, the guest bedroom was recently used as a “storage” room for all our extra crap. Boxes of old stuff we haven’t looked through in years, old furniture from when I was ten years old and Greg’s grandmother’s old furniture passed down to him, a new-ish rocking chair my mom bought for me because she wished I gave her grandchildren, framed artwork from family passed down, and other artwork from the 1980s that are completely out of style now, etc.
This former guest bedroom’s carpets have been torn up, the floor painted light blue, and is now complete with a pottery wheel, shop lights, damp storage, new sliding glass doors to the deck, and even a shop dog named Rufus the Dufus. The kiln is upstairs in the garage, installed after an electrician came in and added extra power. (That kiln goes up to more than 2000 degrees. Yikes!)
Activating the wealth section of our home has indeed added to the richness of our lives…
Next month: How changing doors in a decaying part of our home has enhanced our lives.
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!