Whether you manage your own apartments or not, you really need to be aware of the new laws in 2020. We both will rely on the lawyers to figure out how to deal with them but we can discuss the laws and be prepared for the discussion with the lawyer. It will reduce the time you have to pay with the lawyer. My consultation is already included in your property management fee and we should be reviewing these laws each year and how they can affect you.
Some key highlights that you cannot miss as a property owner:
- The Office of the State Fire Marshal is required to develop a model defensible space program that shall be made available for use by a city, county, or city and county in the enforcement of the defensible space provisions; this program will be made available to the general public.
-If you own property near a fire-prone area, this is an excellent opportunity to safeguard your investment.
- Assembly Bill § 178. Effective January 1, 2020, solar is a required mandate in the construction of new homes. This law allows for an exemption to the solar mandate until January 1, 2023 in areas where the Governor has declared a state of emergency. This exemption will allow low-income homeowners to rebuild their homes with the requirement that was in effect at the time their home was originally constructed.
- A legal framework allowing a tenant, with the written approval of the owner/landlord, to take in a “person at risk of homelessness.” It includes a number of protections for both a landlord and tenant, including the ability for the tenant to remove the person at risk of homelessness on short notice with the assistance of the police.
The link is provided by the California Association of Realtors and is an excellent source of what is going on and it is a responsibility I take very seriously to stay on top of what is happening in the industry to ensure you can be the most profitable with the least amount of hassle.