[Name], regional housing goals, LIBOR transition and lender appraisals.  

Your first tuesday real estate news
Week of July 20, 2020

Q2 2020 Buyer Purchasing Power Index rises due to historically low interest rates
The California Buyer Purchasing Power Index figure was +10.5 in June 2020.

Recent Case Decision: Constellation-F, LLC v. World Trading 23, Inc.
May a landlord collect holdover rent from a holdover tenant under a graduated rent provision in a lease agreement?

Recent Case Decision: California Valley Properties LLC v. Berlfein
May a landlord evict a tenant when they fail to show they did not unreasonably withhold approval of an additional occupant?

Recent Case Decision: Ruiz v. County of San Diego
Does an undedicated storm water drainpipe on private property create a public easement and storm water damage liability?

Recent Case Decision: Calvary Chapel Bible Fellowship v. County of Riverside
May a religious institution construct a venue which does not charge fees for use after its location is rezoned to exclude non-profit use?

Current market rates
The average 30-year fixed rate mortgage descended to 2.98% in the week ending July 17, 2020, another record low.

Form udpates  form updates this month
 

A new series of Tenant Protection Act (TPA) forms have just been published on the RPI Forms Download page. The new forms are used by landlords of properties subject to AB 1482 which limits annual rent increases to 5% plus the rate of inflation, and requires “just cause” to evict tenants who have occupied a unit for 12 months or more.


NEW Landlords and Tenant Forms:

– Form 550-3: Just Cause and Rent Cap Addendum – For Use by Residential Landlord

– Form 569-2: 60-Day Notice to Vacate Under a No-Fault Termination – For Properties Subject to Just Cause Eviction Requirements

– Form 570-1: 30-Day Notice of Change in Rental Terms – For Properties Subject to Rent Cap Requirements

– Form 575-3: Three-Day Notice to Pay Rent with Related Fees – For Properties Subject to Just Cause Eviction Requirements

– Form 575-4: Three-Day Notice to Pay Rent – For Properties Subject to Just Cause Eviction Requirements

– Form 576-1: Three-Day Notice to Perform – For Properties Subject to Just Cause Eviction Requirements

– Form 577-1: Three-Day Notice to Quit – For Properties Subject to Just Cause Eviction Requirements


Updated Landlords and Tenant Forms:

– Form 550: Residential Lease Agreement

– Form 551: Residential Rental Agreement – Month-to-Month

 

To access all updated forms, view our RPI Forms library here.
Click on Download the Full Forms Library to download our entire catalog.

 

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