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Your firsttuesday real estate news
Week of December 27, 2021

California faces long road against wealth inequality
Legislators have yet to respond to the household wealth disparities that plague California's economy.

Form-of-the-Week: Guarantee Agreement for Rental or Lease
Learn how RPI Form 553-1 cements a third-party’s guarantee for rent after a rental or lease default.

Mortgage Concepts: How to issue the adverse action notice
This video covers the adverse action notice under the Equal Credit Opportunity Act and Fair Credit Reporting Act.

New California law to further loosen ADU restrictions
Assembly Bill 1584 makes it easier for your clients to build an accessory dwelling unit.

Brokerage Reminder: Know the basis when converting homes to rentals
When converting homes to rentals, first calculate the basis for tax gain or loss.

DRE Bulletin Digest: 2021 in review
The DRE's end-of-year bulletin lists their accomplishments in 2021 and serves as an annual report to licensees.

DRE Hot Seat: Criminal misconduct a willful disregard of real estate law
Learn how the DRE nailed a broker who burglarized a home.

The 20% solution: personal savings rates and homeownership
The national personal savings rate was 7.3% as of October 2021.

Current market rates
The average 30-year fixed rate mortgage (FRM) rate increased to 3.12% in the week ending December 17, 2021.

Form udpates  RPI Form Updates

— Form 575-1: Three-Day Notice to Pay Rent or Quit, without rent-related fees

— Form 575-2: Three-Day Notice to Pay Rent with rent-related fees, for properties subject to just cause eviction requirements

— Form 575-3: Three-Day Notice to Pay Rent, for properties subject to just cause eviction requirements

— Form 575-4: Notice of COVID-19 Window Period Rent Assistance, for defaults on amounts from October 1st, 2021 through March 31st, 2022


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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