New security deposit limitations for California’s residential landlords
Security deposit rules are tightening for California residential landlords in 2024.
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Category: Property Management
Federal multi-family building incentives for California builders
The Inflation Reduction Act (IRA) adds several incentives for builders and multi-family property owners making energy efficient improvements.
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Form-of-the-Week: 48-hour Notice of Intent to Enter Dwelling, and Statement of Deficiencies on Joint Pre-Expiration Inspection — Forms 567-2 and 567-3
A landlord or property manager uses RPI Forms 567-2 and 567-3 to notify the tenant of the hour and date of a pre-expiration inspection, and provide the tenant an itemized list of repairs and cleaning the tenant needs to remedy or eliminate to avoid a deduction of costs from the security deposit
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Updates to the Tenant Protection Act (TPA) tighten loopholes and up enforcement
Under SB 567, the allowances for a no fault eviction have narrowed.
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Rental vacancies advance; rents fall back. Surprised?
The rent is still too darn high — but not as high as it was yesterday here in California.
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Form-of-the-Week: Bed Bug Addendum and Statement of Pest Control Operator’s Findings — Forms 563-2 and 563-3
A landlord or property manager uses RPI Forms 563-2 and 563-3 to notify a tenant of bed bug prevention strategies and the pest control operator’s observations when a bed bug infestation has been inspected.
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Form-of-the-Week: The option to buy and its variations — Forms 161, 161-1 and 161-2
A leasing or sales agent uses RPI Forms 161, 161-1 and 161-2 when arranging an option to purchase property.
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Rentals: the future of California real estate?
California’s low homeownership rate means rentals are in high demand, with vacancies near historic lows.
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Is a developer entitled to exclude from assessed value of a property the income received from subsidies and a property operator’s agreement?
Olympic and Georgia Partners, LLC v. County of Los Angeles
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Tech Corner: Landlords attract tenants and garner income by renting household items
Apartment landlords are cashing in on reduced storage space by partnering with companies who rent household goods to tenants.
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Form-of-the-Week: Termination of Lease & Surrender Agreement and Notice of Temporary Displacement — Forms 587 and 588
A property manager or landlord uses RPI Form 587 to mutually terminate a lease agreement and RPI Form 588 to notify a tenant of a temporary displacement due to invasive repairs or fumigation work that requires them to temporarily move out.
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DRE Hot Seat: Failure to disburse trust funds to the owner of funds
This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the real estate license of a broker acting as a property manager who collected trust funds on behalf of landlords they represented and failed to disburse the trust funds to the landlords as required.
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Form-of-the-Week: Option and Exercise of Option to Renew/Extend a Lease — Forms 565 and 566
A landlord uses RPI Form 565 to extend or renew a lease and a tenant uses RPI Form 566 to request the lease extension or renewal.
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Manager’s Trust Account Supervision and Accounting
Covers: The property manager’s ongoing duty to account to the landlord and maintain accurate records of all deposits, receipts, disbursements and expenditures; Contents of the property manager’s statement of accounting to the landlord; Discrepancies in trust fund accounting resolved against the property manager and in favor of the landlord.
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Reserves and Deposits in the Trust Account
Covers: A property manager’s proper handling of a trust account to accommodate the flow of property income and expenditures; Start-up fees, cash reserves, security deposits and rents held in a trust fund.
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Attorney General fines landlords for TPA violations
California’s Attorney General is meeting resistance from landlords reluctant to follow — or simply unaware of — the rules.
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