Posts by pshirazi
Deciding to Downsize
People of all generations are downsizing their homes.
Find out why baby boomers, specifically, are choosing to do so.
Call today to find out more.
Payam Shirazi
(949) 436-3936
E-Mail: [email protected]
Broker DRE: 01925601
Primary Reasons for downsizing.
Earning a living and building wealth are miles appart.
All Dollars Are Not Created Equal!
Dollars from rental property are better than other incomes.
Do you like to know why?
Job dollars and real estate income dollars both look the same but Job dollars are the worst.
| Job Dollars or Hardest to Earn Dollar |
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Worst dollar is subject to:
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| Real Estate Dollars or Making Wealth Dollar |
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Making wealth dollar is:
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THIS IS A GRAND TIME TO BE A REAL ESTATE INVESTOR
Call today to find out more.
Payam Shirazi
(949) 436-3936
E-Mail: [email protected]
Broker DRE: 01925601
NAR Real Estate Forecast Summit
IRVINE SCHOOL DISTRICT BOUNDARIES MAP
To view a printable map of the elementary school attendance areas effective 2019-2020, please click here.
To view a printable map of the middle school attendance areas effective 2019-2020, please click here.
To view a printable map of the high school attendance areas effective 2019-2020, please click here.
Tenant Protection Act of 2019-Part 2 of 2
Tenant Protection Act of 2019-Part 2 of 2
(Just Cause Eviction Law)
What is the Tenant Protection Act (TPA)? Effective 1-1-20, the TPA prohibits, with exemptions, an owner from
evicting a residential tenant except for 15 specified reasons. There are two types of reasons: “At fault” and “No fault”.
Exemptions from Just Cause rules:
● Housing that has been issued a certificate of occupancy within the previous 15 years (new housing);
● A duplex in which the owner occupies one of the units at the commencement of and throughout the tenancy;
● A single-family residential property (including condominiums) so long as:
- The owner is not a corporation, not an LLC with at least one owner who is a corporation, and not a real
estate investment trust (REIT) AND - The owner gives the tenant a legally required notice of this exemption. Ownership by individuals,
partnerships, individual co-owners, trusts, and LLCs with no corporate owners, all qualify for the exemption.
● A single-family residence in which the owner lives and if the owner rents or leases no more than two bedrooms or
units (including an accessory dwelling unit such as a “granny-flat”);
● An owner-occupied property in which the owner and tenant share a bathroom or kitchen. The law recognizes that an
owner who lives with tenants should not be “stuck” with an incompatible tenant.
● A tenant who has not continuously and lawfully occupied the property for 12 months.
Giving notice of the Just Cause exemptions:
C.A.R. form “Rent Cap and Just Cause Addendum” (RCJC) (available December 2019) may be used as follows:
For month to month tenants: For new tenancies starting on or after January 1, 2020, incorporate the RCJC
into the rental agreement. For existing tenancies, incorporate the RCJC by using a change in terms of tenancy,
such as C.A.R. “Notice of Change in Terms of Tenancy” (Form CTT).
For Fixed Term Leases: For new tenancies starting on or after January 1, 2020, incorporate the RCJC into the
new lease. For existing tenancies, simply provide the form as a stand-alone notice. If not already provided,
incorporate the RCJC into the lease upon any renewal or extension of existing leases.
What are reasons an owner may evict a tenant for at-fault just cause?
(1) A default in the payment of rent; (2) A breach of a material term of the lease; (3) The tenant commits a nuisance or
uses the property for criminal or unlawful purposes; (4) The tenant assigns or sublets the property in violation of the
lease/rental; (5) The tenant refuses to allow the owner access; (6) The tenant refuses to sign an extension/renewal at
the expiration of the lease/rental.
What are reasons an owner may evict a tenant for no-fault just cause?
(1) The owner is withdrawing the property from the rental market; (2) The owner intends to demolish or substantially
remodel the property. Cosmetic improvements alone do not qualify; (3) The owner, or the owner’s family members
intends to occupy the unit PROVIDED the tenant has previously agreed to allow such a termination or if a provision of
the lease permits it. C.A.R. form RCJC may be used for this purpose. NOTE: For all no-fault evictions, the owner must
pay the tenant a one-month relocation fee or waive rent for the final month of the tenancy.
Does the TPA preempt local just cause eviction ordinances? If a city or county adopted a just cause eviction
ordinance on or before September 1, 2019, that ordinance applies and not the TPA. If a local just cause eviction
ordinance was adopted or amended after September 1, 2019 it only applies if it is more protective of tenants than
the TPA.
NOTE: Quick Guide Tenant Protection Act of 2019-Part 1 (Statewide Rent Cap Law) provides information on the
Rent Cap portion of the TPA.
Source: California Association of REALTORS®. October 22, 2019. Link
Tenant Protection Act of 2019-Part 1 of 2
Tenant Protection Act of 2019-Part 1 of 2
(Statewide Rent Cap Law)
What is the Tenant Protection Act (TPA)? Effective 1-1-20, the TPA establishes, throughout all of California, a
maximum amount an owner may increase a residential tenant’s rent in a 12-month period. The cap is 5% plus
inflation, not to exceed 10%. There are exemptions.
Exemptions from the Rent Cap rules
● Housing that has been issued a certificate of occupancy within the previous 15 years (new housing);
● A duplex in which the owner occupies one of the units at the commencement of and throughout the tenancy;
● A single-family residential property (including condominiums) so long as:
- The owner is not a corporation, not an LLC with at least one owner who is a corporation, and not a real
estate investment trust (REIT) AND - The owner gives the tenant a legally required notice of this exemption. Ownership by individuals,
partnerships, individual co-owners, trusts, and LLCs with no corporate owners, all qualify for the exemption.
Giving notice of the Rent Cap exemptions:
C.A.R. form “Rent Cap and Just Cause Addendum” (RCJC) (available December 2019) may be used as follows:
For month to month tenants: For new tenancies starting on or after January 1, 2020, incorporate the RCJC
into the rental agreement. For existing tenancies, incorporate the RCJC by using a change in terms of
tenancy, such as C.A.R. “Notice of Change in Terms of Tenancy” (Form CTT).
For Fixed Term Leases: For new tenancies starting on or after January 1, 2020, incorporate the RCJC into
the new lease. For existing tenancies, simply provide the form as a stand-alone notice. If not already
provided, incorporate the RCJC into the lease upon any renewal or extension of existing leases.
Can rent be raised more than the maximum before the effective date?
Yes, however, the maximum Rent Cap raise is linked to the rent charged as of March 15, 2019. If rent was increased
more than the allowable amount (5% + inflation) before 1/1/2020 it must be rolled back to the allowable amount as
of 1/1/2020. Amounts collected before then do not have to be refunded to the tenant.
Does the TPA preempt local rent control ordinances?
Local Government Rent Caps: If a city or county limits rent increases to an amount less than that authorized by the
TPA, then the local ordinance applies. If a government entity is not as restrictive as the TPA, then the TPA applies.
Does the TPA limit the rent that an owner may charge a new tenant?
No. The initial rental rate charged a new tenant is not subject to the Rent Cap in the TPA. Subsequent increases to
the new tenant will be subject to the TPA.
Is it necessary for an owner to hire a lawyer before attempting to raise rent or evict a tenant?
The application of the TPA and its many exemptions and requirements, as well as the interplay between the TPA
and local ordinances can be complicated, and failure to abide by the law can have severe consequences. For that
reason, it is recommended that a property owner consult with a qualified real estate attorney familiar not just with
the TPA but also with local law.
NOTE: Quick Guide Tenant Protection Act of 2019-Part 2 (Just Cause Eviction Law) provides information on
the Just Cause Eviction portion of the TPA.
Source: California Association of REALTORS®. October 22, 2019. Link
AB 1482, Tenant Protection Act of 2019 (Rent Control Act)
As living costs soar across California amid a severe housing crunch, millions of residents will be protected for the first time from large rent increases and losing their homes if they have been reliable tenants.
California’s new rent cap and eviction protection law may have a limited effect on the Golden State’s surging apartment market following some uncertainty and disruption for investors, according to sales brokers and rental housing industry executives.
The legislation signed by Gov. Gavin Newsom is one of the nation’s strongest tenant protection laws, capping annual rent increases at 5% plus the inflation rate and restricting a landlord’s ability to evict a tenant.
California is the third state this year to adopt significant rent regulations, giving renewed national momentum to the push for rent control. Newsom predicted that more states would follow.
What types of buildings will be impacted?
Rent control will be applied mostly to apartments and other multi-families buildings—with some exceptions—along with some single-family homes.
Condos and single-family homes will be exempt unless owned by a corporation or real estate investment trust. Duplexes, where the owner lives in one of the units, will also be exempt.
How much will my rent go up?
If you live in a city that does not already have a local rent control law, rent increases will be limited to 5%, plus local inflation, but could never exceed a total of 10%.
For example, if you’re renting in Redondo Beach, which does not have its own local rent control law, and you pay $1,550 per month for rent, and Los Angeles County metropolitan area’s inflation rate is 3.8%, your landlord could raise your rent as much as 8.8%, a monthly increase of $136.40.
Link to Assembly Bill No. 1482
Source: California Legislative Information
All Millennials Should Understand These 4 Simple Truths About Home Ownership
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LA County ADU facts.
ADU or Accessory Dwelling Units
Los Angeles County has updated its accessory dwelling unit regulations to comply with state laws that took effect on January 1, 2017. The ADU Ordinance was adopted on April 30, 2019 and took effect on May 30, 2019.
Need more living space for your family?
Need more living space for your family? Want to earn rental income? You can build an accessory dwelling unit on the residential or agriculturally zoned property that you own.
What is an ADU?
An ADU is a dwelling unit with a full kitchen and bathroom, which is an accessory use to a primary or main single family residence. The ADU can be used as a rental, but cannot be sold separately from the primary or main single family residence. The existing residence must be a legally established structure.
How to apply for an ADU
An Accessory Dwelling Unit shall be permitted with a site plan. For more information please follow this link.
Please note that the County’s ordinance only applies in the unincorporated areas of Los Angeles County and zoning of the property is R-A, R-1, R-2, R-3, R-4, A-1 or A-2.
Mello-Roos
California Mello-Roos
Yearly Fiscal Status Reports
2016–2017
CALIFORNIA DEBT AND INVESTMENT ADVISORY COMMISSION
The California Debt and Investment Advisory Commission (CDIAC) provides information, education, and technical assistance on debt issuance and public funds investments to local public agencies and other public finance professionals. CDIAC was created to serve as the state’s clearinghouse for public debt issuance information and to assist state and local agencies with the monitoring, issuance,
and management of public debt.
Click on the link for detailed information: https://www.treasurer.ca.gov/cdiac/reports/M-Roos/2017.pdf