An Overview of AB 1482 with Guest Keith Becker

Looking for an summary of AB 1482? Look no further. If you’re managing properties in California, it’s hard to avoid discussing AB 1482. This new law has probably taken center stage as you help the landlords and investors you’re working with comply with it’s requirements. We asked Keith Becker (DRE License #01201067) of DeDe’s Rentals & Property Management to help us understand what’s happening in California with rent control, and what other markets and states are thinking as we implement new standards here. Keith is heavily involved in the National Association of Residential Property Managers (NARPM) and extremely active in property management legislation. When it comes to managing homes in California, Keith gets around. So, his insights are worth listening to. Keith Becker: A Brief Bio We’d be very surprised if you don’t know Keith already, but in case you don’t, here are a few things you should know about him: * Keith has been managing residential rental homes for 25 years. * DeDe’s Rentals in Santa Rosa has been around for nearly 50 years. * Keith has been the president of the California state chapter of NARPM. * He’s been NARPM’s regional vice president for Hawaii and California. * Presently, Keith is on the NARPM board for the North Bay area and he’s also on the board of the California Apartment Association. Keith still loves when he does, and when he’s not running DeDe’s, he spends his free time focused on property management. He loves this industry, and he follows everything that happens in it. A Summary of AB 1482 and Getting Good Advice AB 1482 is also known as the California Tenant Protection Act. If you own a property management company – even outside of California – you need to know what this law is and why it’s considered the minimum standard right now. This is rent control. There are two things to think about right away: We are discussing some heavily legal information today. Like most of you paying attention to this podcast, Keith is a property manager not an attorney. A lot of information surrounding this topic has legal implications, especially when you execute the laws. If you have a legal question, talk to an attorney who specializes in landlord-tenant law. It’s complicated, and we expect it will only get more complicated. Politics has shaped much of what’s going on in California and with rent control. We aren’t going to get into politics. We’re talking today about process. This has already happened. While there’s always a threat that Costa Hawkins, one of the primary rental housing laws in California, will be overturned in the future, we’re not dealing with that today. We’re dealing with the current law and what it means for you, the properties you manage, and the tenants you work with. PM Grow Summit Sponsorship Baseline Rent Control: California State Law and Local Laws This statewide rent control law is the baseline for any rent control ordinances throughout California. What you need to know when we’re balancing the state law against rent control laws in cities throughout California is that whichever law is more onerous to the owner and more favorable to the tenants will always apply. Some cities already have rent control laws in place that are more arduous than AB 1482. Their stricter laws apply. For example, let’s look at Richmond. In Richmond, landlords cannot raise the rent on their tenants any more than the Consumer Price Index, or CPI. The new law, AB 1482, says you cannot raise the rent more than five percent plus the CPI.