Capital Property Management

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BY VERONIKA BONDARENKO September 16, 2020 As the coronavirus pandemic drags on, different parts of the country are feeling the brunt of the shutdowns and economic disruptions very differently. Some suburban enclaves are seeing sky-high demand while others have seen home values drop dramatically just a few months into the pandemic. A new study by GoBankingRates looks at the top 50 American cities most likely to see a poor housing market in the near future. Some are small citie...Continue reading

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Interesting facts about HVAC systems. If you are looking to service or replace your heating and Air system, take a look at this.

SEPTEMBER 3, 2020 Governor Signs Assembly Bill 3088, the Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020 Bill Passed by Overwhelming Majority, Bipartisan Vote in Both the Assembly (59-9) and Senate (33-2) As anticipated, late Monday night, Assembly Bill 3088, the Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020 was signed into law by Governor Gavin Newsom and takes effect immediately. The key provisions contained in ...Continue reading

Governor Newsom Signs Statewide COVID-19 Tenant and Landlord Protection Legislation New law includes targeted protections for tenants to shield them from evictions due to COVID-19-related back rent through February 1, 2021 ...Continue reading

As reported earlier this week, the Governor’s office and several top state Legislators have put together a proposal to assist both property owners and tenants. CAUTION: THIS PROPOSED LEGISLATION IS SUBJECT TO CHANGE. As of now, the key provisions contained in the proposed legislation are described below. This legislation is merely to be a stopgap to get the Legislature through the end of January and provide it with needed time to develop a more permanent solution. The ...Continue reading

The COVID-19 Housing Stabilization Act of 2020 is Being Conceived: Still in the Preliminary Stages of Drafting and Negotiating With the goal of a stabilized housing market in mind, the Governor’s office and key state Legislators led by Senator Bob Hertzberg, worked late into the night on Sunday to come up with the outline of a plan to assist property owners and tenants. The proposed legislation attempts to address both foreclosures and evictions and is called The COVID-19 H...Continue reading

RENT CONTROL is Back on the California Ballot this November: Vote NO on Proposition 21 & Contribute Today to Stop it! A new ballot proposition just like 2018’s Prop. 10, Proposition 21 the Rental Affordability Act, will drastically expand California’s rent control laws by repealing the protections we currently have under Costa-Hawkins. This new ballot initiative is an extremely dangerous threat to owners of rental housing! If passed:... Your right to raise rent to market when tenants vacate will be restricted vacancy decontrol will be illegal! Local jurisdictions can impose local rent control on ALL rental properties built more than 15 years ago. Rent control will be expanded to single-family homes and condominiums when more than 2 properties are owned. Will result in the loss of local revenues, leaving less funding for our schools, police, and fire departments. Will REDUCE the value of your rental property and your rental income. According to a Wall St. Journal article, similar rent control regulations in New York reduced rental property values by 30% to 40%!

Senate Bill 1410, which if passed, would POSTPONE PAST DUE RENT COLLECTION UNTIL 2024 AND ALLOW TENANTS 10-YEARS TO REPAYWITHOUT INTEREST, passed in a vote along Party Lines by the State Assembly Judiciary Committee on Tuesday. Next, the proposed bill moves onto the State Assembly Appropriations Committee. During the meeting, there was a great deal of concern expressed about there not being enough in the Bill for small landlords, but the Bill still passed. This year’s Le...gislative session has been shortened due to COVID-19. Accordingly, all legislative activity is occurring very rapidly during this shortened legislative session, which ends on August 31st (unless extended). If passed, Senate Bill 1410 would: YOUR tenants will have 10-years to repay deferred, past due rent unpaid during the COVID-19 emergency start in 2024. That means, YOU will not be made whole until sometime in 2033! YOU will not receive actual cash, but YOU will be given tax credits by the State of California for the value of deferred, unpaid rent, which YOU can redeem over a 10-year period from 2024 to 2033. YOU will not be paid interest. YOU will not be fully paid for 12-13 years from now! SENATE BILL 1410 COERCES OWNERS INTO AGREEING TO A 10-YEAR REPAYMENT PLAN. Senate Bill 1410 offers no incentives to tenants to pay rent, but it coerces owners into agreeing to tenants to remain in possession of their units with or without payment of rent, prohibits evictions for unpaid rent debt during COVI-19, and forces owners to wait until the end of 2033 before being repaid in full, but without interest. Tenants unaffected by the COVID-19 will surely take advantage of Senate Bill 1410. Senate Bill 1410 virtually bans evictions until well after the Emergency Declaration is lifted. TAX CREDITS BEING OFFERED TO LANDLORDS DO NOT PAY MORTGAGES, PROPERTY TAXES OR OTHER NECESSARY EXPENSES. YOU cannot pay mortgage, insurance, maintenance, property taxes or personal living expenses with the tax credits offered under Senate Bill 1410. The tax credits may only be used on your income tax return or be sold at what will surely be a steep discount. NO INTEREST TAX CREDITS WILL NEVER REPLACE THE RENT YOU ARE LOSING. Senate Bill 1410, like others we have seen this legislative session, imposes virtually the entire financial burden of the pandemic on the backs of property owners, mostly small owners like many of YOU. We all know our tenants, who most of you are working with to arrange repayment plans, are not responsible for this situation. But instead of developing a balanced rental assistance program benefiting owners, tenants and the economy, Senate Bill 1410 virtually forgives all requirements to repay past due rent with no recourse to your tenants.

The Judicial Council of California has voted to end two temporary emergency rules governing evictions and judicial foreclosures. The emergency rules will sunset effective midnight on September 1, 2020, one day following the scheduled end of this year’s legislative session on August 31, 2020. The Judicial Council serves as the rule-making body for California’s court system, and as part of its emergency rules, prohibited the issuing of court summons in eviction matters for ...other than emergency cases involving the health and safety of residents. The Judicial Council originally approved the temporary emergency rules prohibiting, for all practical purposes, evictions, and foreclosure proceedings at a special remote meeting on April 6, 2020. The Judicial Council’s action had prohibited eviction cases from moving forward for 90-days following the date in which the Governor’s emergency declaration is lifted, which is currently September 30, 2020. Accordingly, the Judicial Council’s emergency rule would have extended the eviction ban through the end of 2020. It is likely; however, that Governor Newsom will extend his emergency declaration and eviction ban through December 31, 2020. We will just have to wait and see

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For a long time, we've been vocal opponents of SHRA, also known as Section 8 in the Sacramento region. Not because of the people on Section 8 or anything like that but for the grief of having to deal with Section 8 themselves. It was painfully obvious that the program was ineptly run and underfunded. For us, we could guarantee that any new file sent through the program would get screwed up and we'd have to spend countless hours per file correcting the issues. Obviously, our experience wasn't unique and more and more landlords declined to participate in the program. Now SHRA is trying to get those landlords back.

Rents in the state capital marked a 0.3% downtick on a trailing three-month basis through May to $1,524. The pandemic marks the first time rent growth turned negative since 2013, and looking ahead, the trend will likely continue based on regional economic factors.

Gov. Newsom extends executive order on evictions through September July 1, 2020 1 Gov. Gavin Newsom’s executive order on evictions during the COVID-19 pandemic will remain in place for at least three more months. On Tuesday, Newsom extended the order through Sept. 30. It had been set to expire July 28.