Monday, June 27, 2022
Friday, June 24, 2022
Own or purchasing a property with racially restrictive covenants? Apply for a Restrictive Covenant Modification...
Sadly, the CC&Rs for many properties built in and around Sacramento County that were developed prior to the civil rights movement contain racially restrictive covenants. I sell several homes per year where the CC&Rs contain these covenants. I come across some really repugnant restrictions that were intended to permanently racially segregate neighborhoods. And I think most home buyers and homeowners are unaware these covenants exist.
Have you ever seen a racially restrictive covenant? They are horrifying.
A couple years ago I was interviewed by Capital Public Radio about racially restrictive covenants. Here’s a snapshot of the CC&Rs of a property I sold that was built in 1944. “...but such property shall be restricted to persons of the Caucasian race forever.”home buyers and homeowners are unaware of this process, and I hope that this new legislation helps create awareness. Here are links to local county websites to their applications and more information:
Wednesday, June 22, 2022
Friday, June 17, 2022
Thursday, June 16, 2022
Statewide, CAA has determined that the allowable rent increase for properties that fall within the requirements of AB 1482 to be 10%. This is not surprising considering inflation numbers are globally pretty high right now.
California AB 1482 limits rent increases in any 12-month period to "no more than 5% plus the percentage change in the cost of living (CPI), or 10%, whichever is lower". For increases that take effect on or after August 1, 2022, due to inflation, the California Apartment Association has noted that all of the applicable area's CPIs are 5% or greater. So with that, the allowable rent increase is 10%. Until they re-evaluate things...so if you are reading this well after today (June 16, 2022), best to make sure this information is still relevant.
There are many types of residential rental properties that are included and excluded from the rent cap and just cause eviction requirements of AB 1482 (and for added fun, in some areas rent control ordinances supersede AB 1482) -- so if you have questions, CAA is a great source of information, or may wish to consult a professional property manager or an attorney.