2019 Statewide Rent Control Ordinance – CAR Quick Guide
What is the Tenant Protection Act (TPA)? Effective 1-1-20, the TPA establishes, throughout all of California, a maximum amount an owner may increase a residential tenant’s rent in a 12-month period. The cap is 5% plus inflation, not to exceed 10%. There are exemptions.
Live/Work Lofts versus Regular Condos
Back in the 90s, some clever developers working with the City came up with a way to build condos with higher density than would have otherwise been allowed, in locations previously not zoned for residential and with a different set of standards than regular condos required.
What is COPA and how will it affect my 3+ unit ownership, sale or purchase?
COPA is another attempt of the City of San Francisco to regulate the free market and prevent units from being converted from rental to owner occupied use.
Why is the value of tenant occupied property in SF so low compared to the rest of the market?
Why is tenant occupied property harder to sell and less valuable than vacant property in San Francisco? There are a few different factors making tenant occupied property less valuable and/or harder to sell.
Sales with Court Confirmation Explained
Some sales state that they are subject to “court confirmation,” or you will see a “1st overbid” price stated. What does this mean?
What’s wrong with TICs? In a nutshell …
Your regular lender will not lend on a TIC. You need what is called a “fractional” loan, which is similar to what is used to buy a Co-op in NYC. For this, you need a special lender – there are several. Sterling is my go-to, Bank of Marin, NCB, Bank of SF to name a few. Please ask me for a referral.
A few words about equity sharing programs …
Last year, Mark Zuckerberg got a lot of press for his “philanthropic” funding of a company called “Landed” to help “teachers buy houses.* It is a good idea, but it is not philanthropy to co-invest funds with a home buyer in exchange for a portion of their future equity.
Pricing Strategies, Offer Timing and Pre-Emptive Offers FAQ …
In most real estate markets, sellers put their hopeful sale price on a house and wait for a buyer to come along and make an offer. In some of the most active markets, many homes are sold by pricing them just under value by a few thousand dollars to draw attention. But in San Francisco, and some of the most attractive parts of the Bay Area, homes are almost arbitrarily priced far far below value and sellers invite the buyers to compete. Many times this results in the best possible sale price and terms for the home.