“The restriction of knowledge to an elite group destroys the spirit of society and leads to its intellectual impoverishment.” Albert Einstein

I think housing providers should have the best information available to make an informed decision. Alex Lee, (D) San Jose, on the other hand, seems to disagree.. He has introduced, AB 2304 which limits the information a prospective landlord can get regarding past evictions.

“The housing crisis is undermining the social fabric of our communities, and housing remains out of reach for far too many Californians,” said Assemblymember Lee. “We have to take a comprehensive approach to ensure housing security for all Californians. That includes protecting tenants rights, preserving the existing supply of affordable homes, and producing more housing for residents of all income levels. Tackling the housing crisis has been one of my top priorities ever since I took office, and I’m committed to providing housing as a human right for all Californians.”

His statement , above, sets out a number of bills which could make your next tenant choice more difficult. The current “masking” could be extended to all unlawful detainer cases. even those with cases of over $35,000.

HOW WILL THIS AFFECT YOU? We are currently at a time where a simple eviction can turn into a jury trial and cost a landlord 30K or more in legal fees. It is more important than ever to make sure every decision on a new tenant is the right one. A mistake could cost not only the lost rent, potential property damage, and disruption to the other tenants but also significant additional legal fees. I urge you to read through Assemblyman Lee’s statements, but also to contact his office, your Apartment Owners Association and let your feelings be heard.

WHAT SHOULD YOU DO NOW? If you have a vacancy coming, it is a great time to review your procedures for choosing a new tenant. Regardless of new laws, it is always best to be proactive and do everything in your power to make sure you are choosing the best and most responsible tenant available from the candidates you have. By doing your screening with the Apartment Association, you will have an advocate on your side. Be sure to check out past residences, talk to previous landlords, and even drive by previous places of residence. The more information you get, the better. If you choose wrong, it can be a very expensive mistake. Evictions have never been pleasant, but in the current climate, it can be much worse.

AT THE END OF THE DAY. Everyone has to live somewhere. That is a given. If your unit is clean, well-kept and fairly priced, you will have your choice of prospects. In these times of reduced housing availability there are fewer choices. This is primarily due, in my opinion, to things like rent control and excessive regulations, which lead to hesitancy from would be- investors and builders. I believe that if you have a great product, you will have the best choices.

“It’s not the will to win that matters -everyone has that. It’s the will to prepare to win that matters.” Kobe Bryant

What we at PRS PROPERTIES CAN DO. We are always available to chat. We can give you referrals for professionals, such as lenders, contractors, and engineers, so that you can decide who you feel best with. We can supply you with rent and sale comparables in the area of your properties, so that you know what rental values are in your area. It is important that you know the true value of your rental units, so that you can get them rented right away at market value, or at least as much as possible with rent control restrictions. We can look at potential purchases that you may be interested in to make the property more desirable, and maybe look at potential issues that an insurer might require you to repair

R= This is something that a lot of housing providers have not thought about or have decided to do later, but now may be a good time.

If you should decide to sell your building, we can help you exchange into a larger or smaller properties. We can even help you move into something with less management responsibilities. We can also help with getting the paperwork together for a refinance if that is your desire. We can also recommend experienced licensed contractors who can perform any repairs or installations you may need prior to selling. We can also look at your building for other easy and inexpensive changes that might allow you to get a higher value. We can help you to get the maximum value for your property, should you decide to sell, or the maximum return if you are planning to keep your building.

We always have many investors who are looking for “as-is” properties and are willing to purchase with low rents, deferred maintenance or even with a problem tenant in place. We have put together numerous transactions over the years which involve properties that are not listed for sale. Many investors are currently in 1031 exchanges and need to identify a replacement property before their 45 day identification period runs out.

Should you decide to put your property on the market, we will put together an aggressive, targeted and professional campaign to get your property sold fast. We have been doing this for over 40 years, and we will use all the tools available to bring you the most dollars at closing. If you are thinking of selling or are just curious about the value of your property, don’t hesitate to give us a call.