All Forum Posts by: Raimondo F.

Dear Property Owners,

all statewide tenant organizations this year are trying to repeal Costa-Hawkins. The repeal would allow local jurisdictions (cities and counties) to establish rent levels below market rates in all housing: new, old, single-family homes, etc. 

The first attempt is via AB1506 the second will be a ballot initiative scheduled for November.

See some examples of the tenants positions at these links:

http://tenantstogether.org/updates/ab-1506-introdu...

http://sacramento.carpediem.cd/events/5535601-mobi...

https://www.sftu.org/2017/12/repeal-costa-hawkins-...

Help is needed in three ways as soon as possible:

1. Consider going to Sacramento this Thursday, January 11 as the committee discuss the bill.

What: Public Hearing on AB1506 Costa Hawkins Repeal Bill
When: Thurs Jan 11, 9am-12pm (GET THERE EARLY 8am!)
Where: State Capitol, Thursday, Room 4202, Sacramento, CA

2. Consider sending a brief message directly to the bill's co-sponsor Assemblymember David Chiu with a cc: to Assemblymember Phil Ting. You can either go to the Assembly website and type directly on the email form provided for each of the members http://ahcd.assembly.ca.gov or you can write directly to assemblymember.chiu at assembly.ca.gov and assemblymember.ting at assembly.ca.gov. These messages can be very short such as "Repealing Costa-Hawkins will kill new housing construction."

Also, you can leave a telephone message for Assemblymember Chiu. Just say you want him to vote against AB 1506.

3. Consider following the Call to Action from the California Apartment Association (below) which provides this link (https://caanet.org/votervoice/?vvsrc=%2fcampaigns%...) to suggestions for writing a more comprehensive letter to Assemblymembers Chiu and Ting.

If you own or plan own a property in California, it's very important to take at least one of the above actions.

Thanks,

Raimondo

Here's some math from Moody's https://www.washingtonpost.com/realestate/increasi...

@Will Lee I hope you have not talked to the tenant of $$$ to move out. You need to register in advance of any buyout conversations. Read here: https://www.sftu.org/buyouts/

If your tenants will sign up an attorney, just that action of talking to them without registering your buyout intent, may cost you an extra $30-$50k.

You really do not want to end up in this group of people: https://www.nbcbayarea.com/investigations/I-Unit-S...

BTW there's also some legislation under work that may make things even more complicated: https://48hills.org/2017/06/tenants-protest-farrel...

And finally, watch out for a "disaster" like this one below.

http://greensteinmcdonald.com/tenants-win-record-3...

You can do an OMI only if you plan to use your apartment for yourself and for the foreseeable future. If you want to go down the route of buyout, be aware that as soon as your attorney register with the Rent Board, your tenants will receive unsolicited phone calls from the best tenant attorneys.

Consider to join SPOSFI (https://www.smallprop.org/) as a small property owner in San Francisco.

Even Hitler is considering an apartment in the Mission district of San Francisco...

https://www.youtube.com/watch?v=53GcLx1JLXY

@Jen L. consider to get the latest version of a lease agreement from one of the SF property owners associations:

http://www.smallprop.org/ - Better deal

http://www.sfaa.org/

Hi @Saikat Bhadra,

1) I did an OMI in San Francisco, pretty straightforward. Only issue is with protected tenants (elderly, terminally ill etc). It stains a bit the property but if you stop there is not too bad.

2) This depends on scenario.

3) Airbnb new regulation: You can do airbnb for rooms in the house where you live for unlimited amount of days. You cannot airbnb a unit where you are not a resident. Also, managing guests is practically a full time hospitality job. You should instead look into "long term (over 30 days) furnished rentals". You can still find your customers on Airbnb but they are effectively tenants and not short term guests. You still need a bit of care on who you select but the amount you would charge should help in combing away troubles.

You should continue to look into duplexes with plans towards condo conversion. There are some border line strategies that you can try with the right property. IM me if you want to discuss further.

@Account Closed

due to the housing crisis, there's a new law that became effective last March. Under this new law conditional use approval by the Planning Commission is now required for the removal of most housing units, even if the unit is illegal. The board of supervisor passed the law to avoid exactly what you have in mind. And you cannot do an owner move-in eviction targeted at a tenant unit when another one is available in the building. As @Johnson H. suggested better to talk to a real estate attorney before taking action.

@J. Martin, 

The original one seems a lot like the Hotel Tonight one!

One thing I had issues in the past with logos is how they look in Black and White and the lenght/widht ratio, you may want to ask your designers to provide a BW version to get a sense. For this reason I voted #29 even though the text is probably a bit too small and you cannot get that the inside of the house is a bed if you don't look at it when it's bigger.

As far as freelancer platforms you can also check out https://www.fiverr.com/. A logo running rate is $5.

Hi John,

SFR are not rent-controlled in San Francisco (and I believe in most if not all rent-controlled cities).

You can do an owner move in eviction but this does not change the rental control status of a unit. After 36 months you can put it back into the rental market at the going rate.

Zach, if I were you I would consider starting in Oakland to hack in a 3-plex. It's a bit of a sacrifice to commute in the city but you can jump start your real estate investment faster.

For owner-occupied properties, when can the owner increase the rent?

Specifically this is the hack: "The landlord in an owner-occupied building with three or fewer units may increase the rent after the landlord has lived in the building for at least one continuous year."

https://www.tobenerlaw.com/oakland-rent-control/

You can buy a duplex/triplex, get into a unit (you may have to evict as an owner/occupier and you will need a real estate lawyer). After a year you can start the process of improving the other units and raising rents. Once rents are higher you can refinance, cash out and ook for something in San Francisco. Bear in mind it's not for the faint of heart! Search for Oakland in BP and I'm sure you can find a lot of advise.

You can also do it in San Francisco (as I'm trying) but you don't have the same rule above to unlock value. This mean that you would need more $ for downpayment and for vacancies during transition time. PM me if you want to know more about SF.

Ciao,

Raimondo