New California State Measure AB 1482 Will Affect Rent Increases Dramatically

This is a quick summary of the new bill that passed affecting multifamily properties for your info.

  • Maximum annual rent increase: 5 percent plus the rate of inflation, or 10 percent, whichever is lower
  • Applicable to all types of residential rental properties issued a certificate of occupancy prior to 2004 (15 years or older)
  • Applicable to rent increases occurring on or after March 15, 2019. In the event an owner has increased the rental rate by more than the amount permissible under the bill, the rental rate effective on the 1st of January 2020 will be the rental rate of March 15, 2019 plus the maximum allowable increase under the bill. Owner not liable for tenant over-payment.
  • If a tenant has occupied a property for 12 months, the rental rate shall not be increased more than twice per year
  • A tenant may not sublease a property for an amount exceeding the maximum allowable rental rate
  • No Vacancy Control

Look at this article for easy-to-read info:

https://calmatters.org/housing/2019/09/big-rent-hikes-illegal-in-california-heres-what-to-know/

Revolutionizing Online Gaming: Discover What Ripper games Offers

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Optimize Rewards at Ripper Casino

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Claim all available bonuses: Welcome bonuses, reload bonuses, and free spins.
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For those who thrive on variety, Ripper Casino offers an impressive list of gaming options:

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Alt text: Ripper Casino's Unique Gaming Features

Another feature that sets Ripper Casino apart is its commitment to offering tailored promotions and bonuses specifically designed for the Australian market. New players are greeted with a generous welcome package that often includes match bonuses and free spins. Moreover, the casino frequently updates its promotions to keep things fresh and exciting, with offers such as cashback deals and reload bonuses. The use of AUD as the primary currency further enhances the experience for local players, eliminating the hassle of currency conversion fees.

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Feature Description
Game Variety Extensive library including pokies & table games
Promotions Tailored bonuses for Australian players
Currency Transactions in AUD
Security SSL encryption & regular audits

Customer support at Ripper Casino is another area where it excels. The support team is available 24/7 through multiple channels including live chat, email, and phone support. This ensures that any issues or queries are addressed promptly, contributing to an overall positive player experience. With its combination of diverse gaming options, attractive promotions, robust security measures, and exceptional customer service, Ripper Casino has carved out a niche for itself in the competitive online gaming market.

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Game Average RTP (%)
Blackjack 99%
Roulette 97%
Pokies 95%

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Cap Rates or Crap Rates?

Multi-Family cap rates, buyer beware: When do you know they are correctly stated?

Capitalization rate or Cap Rate is a real estate valuation measure used to compare different real estate investments. Although there are many variations, a cap rate is often calculated as the ratio between the net operating income produced by an asset and the original capital cost or alternatively its current market value.

So, for example, if a property recently sold for $1,000,000 and had an NOI of $100,000, then the cap rate would be $100,000/$1,000,000, or 10%.

You won’t know if a stated cap rate is accurate until you perform an arduous due diligence process. The selling agent should also know that you are expecting this to be an accurately stated rate and if it isn’t the buyer will be expecting a price deduction.

The acquisitions list that many lenders use can have more than 55 points and there are a handful of points that can impact a Cap Rate and overall asset performance. Many brokers in a seller’s market like today will enhance cap rates based on NOI potential and take liberties by projecting other line items. Of course higher cap rates get more attention from buyers and it’s easy to see why the problem occurs.


In addition to integrity and ability, be certain that your buying agent has your best interest in acquiring your multi-family project.  Ask him what criteria he uses to analyze your purchase. Always make sure your purchase agreement asks for all of the back-up documentation to verify the said cap rate. Remember your property tax will be reassessed and that will negatively impact the cap rate.

 If you don’t feel your agent is analyzing the deal like he’s going to buy it himself, then you need another agent. Anything less than that commitment from your agent may not be in your best interest.

If you would like to call and schedule a time to discuss the details of my due diligence process, and experience my commitment to serving my clients, send me an email and we’ll get started.

Long Beach Requires Landlords to Pay Tenants’ Moving Fees

Do you think this is a fair and equitable compromise for the owner and the renter?

Long Beach Rentals

By Jenna Chandler@jennakchandler
Tenants who choose to move out when their rent is hiked more than 10 percent will get as much as $4,500 to help with moving expenses under a tenant relocation assistance ordinance finalized and approved on six-to-three vote by the Long Beach City Council on Tuesday night.
Long Beach will require landlords to compensate tenants who move out to avoid big rent hikes.Tenants will get $2,706 to $4,500, depending on the size of their apartment.
See complete article: https://la.curbed.com/…/tenant-relocation-assistance-rent-c…

Bill Limiting Rent Hikes Clears Another Legislative Hurdle

Closely Watched Legislation Is Among Measures Tackling Affordable Housing Shortage

California Gov. Gavin Newsom has supported legislation aimed at controlling rent increases.

California is barreling toward becoming the third state to pass rent control, as a closely watched state measure limiting rent increases passed a key legislative hurdle.

The California Senate Appropriations Committee on Friday passed Assembly Bill 1482 , by Assemblymember David Chiu, a San Francisco Democrat, which would cap annual rent increases and ban landlords from evicting tenants without showing “just cause.”

The measure, passed previously by the Assembly, now goes to the full Senate floor for a vote in early September, and if approved there would head to the desk of Gov. Gavin Newsom, who has supported the bill. Newsom would have until Oct. 13 to veto or sign the measure into law this year under legislative deadlines.

If enacted, California would become the third state in the country to pass statewide rent control. Oregon became the first state to pass rent control in February, followed by New York in June.

“This bill is crucial to the millions of Californians who are living paycheck to paycheck and are just one rent increase or eviction away from becoming homeless,” Chiu said in a statement after the Appropriations Committee vote. “As this bill moves forward, I will do everything in my power to get it over the line and ensure as many Californians as possible have protections from egregious rent increases and predatory evictions.”

The bill cleared the Assembly in May and subsequently cleared the Senate Judiciary Committee. The measure received strong opposition from the California Apartment Association and other real estate groups.

California lawmakers are grappling with the nation’s largest crisis of homelessness, skyrocketing housing prices and a critical shortage of housing for its 40 million residents, more than any other state.

Chiu’s bill, which would expire in 2023 and would not apply to landlords leasing fewer than 10 single-family homes or to properties built in the last decade, would limit rent increases at 7% each year. It would also protect renters from what Chiu describes as “predatory evictions” while still allowing landlords to turn a profit.