News: rental

Filter

Discriminating against tenants – even if unintended — has long flown in the face of both California and federal law. But just how the law plays out in court has varied by circuit across the country. A new rule, issued Feb. 8 by the U.S. Department of Housing and Urban Development, aims to change that. HUD’s final rule on implementing the Fair Housing Act’s Discriminatory Effects Standard includes guidelines that standardize what constitutes discrimination through “disparate impact” and what it takes to prove it in court. First, HUD clarifies that the plaintiff bears the burden of proof. In the rental… Read More

Tagged:

A tenant advocacy group says it’s launched a campaign to stop “security deposit theft” by California landlords. San Francisco-based Tenants Together has dubbed the initiative “It’s Your Money.” The campaign website, www.YourDeposit.org, includes information about tenants’ rights, protecting security deposits — and a platform for frustrated renters to post their stories. “Millions of dollars are being stolen from tenants every year,” Dean Preston, executive director of Tenants Together, says in a news release distributed Thursday. “It’s gotten so bad that tenants paying their security deposits don’t ever expect to see that money again. Something has got to change.” While the… Read More

Tagged:

Join CAA Tri-County for an evening of networking with rental property owners, managers, and Industry Partners to promote your business.

Tagged: Tri-County

The Santa Cruz City Council has unanimously approved sweeping changes to the way rental owners pay interest on a tenant’s security deposit.  The changes reduce the burden placed on rental owners to calculate, process, and distribute interest payments each year.  

Tagged:

Billions of dollars are trading hands as some of America’s richest investors snatch up single-family homes and place them on the rental market, Bloomberg reports. The idea: Buy distressed homes now and make money renting them out as they appreciate and go back on the market in a few years. Returns on investments in hard-hit regions, such as in Florida, could fetch returns of 6 to 8 percent, Sandeep Bordia of Barclays Plc. told Bloomberg, while places with already-high home prices — like in California — might see yields closer to 4 and 5 percent.

Tagged:

San Jose’s minimum wage increases from $8 to $10 next month — and apartment managers need to know how this will affect them. In addition to shelling out $2 more per hour, employers affected by Measure D will need to post – in a conspicuous place – notices of the wage increase by March 11. Click here to download the notice that needs posting in the workplace.

Tagged: Tri-County

If the rental market is returning to the fast lane, you could say women are in the driver’s seat. Diana Olilck’s Realty Check article on CNBC.com says the housing market’s recovery doesn’t necessarily mean a rush for renters to become buyers. Pointing to demographics, the article explains the role women are playing in the apartment industry’s success — even as the housing market bounces back. Some reasons women are likely to keep renting: These days, they’re staying single longer and putting off parenthood for their careers. That lifestyle suits apartment living more than taking on a mortgage and a home… Read More

Tagged:

During a California Apartment Association event Thursday, a featured speaker predicted that growth  in commercial construction will bring a corresponding need for new housing in the Silicon Valley. Larry Souza of the Johnson Souza Group offered that forecast during Tri-County’s annual economic and legislative summit, which nearly 200 members attended. The Silicon Valley Business Journal covered portions of Outlook 2013, including Souza’s comments. “My projections are we’ll reach the peak of the commercial real estate and business cycle by 2017 — and then probably be back in another recession,” he said,  according to the Business Journal story. Souza’s presentation also… Read More

Tagged: Tri-County

Renting out properties as vacation homes can make plenty of money for owners. An article by the Orange County Register tells the lucrative tale of real estate broker Barbara O’Hara Hamilton. Hamilton rents out a duplex in the Newport Beach area on a weekly basis, the article says, and can rake in nearly $7,000 monthly — roughly four times the monthly income when the unit rented annually. The article also offers tips on preparing a unit for vacation rental, from getting the proper license to stocking the shelves.

Tagged: Orange County