Fremont Real Estate and Beyond

The City of Hayward's preliminary Residential Rent Stabilization and Tenant Protection Ordinance includes fines and jail time for rental property owners who don't share rent increase and eviction information with City Hall. Other rules include Hayward politicians and bureaucrats determining a property owners "fair rate" of return on their investment. You can review the entire draft Ordinance here. The City Council will take action on the Ordinance during their June 18 meeting.  Share your thoughts about this issue, and your experiences as rental property owners or managers, with the Hayward City Council.

The City of Hayward released a draft of a Residential Rent Stabilization and Tenant Protection Ordinance. The 45-page document presents new rules regarding:  -A landlord's "fair rate" of return on investment -Limits on rent increases including increases on vacant units -Landlord-tenant dispute resolution -Security deposits -Eviction and harassment -Discrimination based on source of income -Information landlords must provide to tenants and to the City of Hayward including terminations and rent increases. The Hayward City Council is scheduled to take action on this ordinance during its June 18 meeting. You can review the entire draft Ordinance here .

Let me know if you're interested! I can help you with the purchasing process. Habitat for Humanity East Bay/Silicon Valley  is getting ready to kick off phase two of Fremont's  Central Commons  development located at 4369 Central Avenue in Centerville. Central Commons is a partnership between the City of Fremont and Habitat for Humanity that gives limited income families the opportunity to own their own home. The development features 30 energy efficient condo-style homes in several different floorplans. Phase two of Central Commons will include 19 homes to be sold to moderate income households earning between 80% and 120% of the area median income. Preference will be given to applicants who currently live and/or work in Fremont or who have lived in Fremont for the past five years. Please see the income requirements below.  Household Size  Minimum Income  Maximum Income  2  $78,850  $107,232  3  $88,700  $120,636  4  $98,550  $134,040  5  $106,450  $144,763  6  $114,350

BayEast posted their East Bay housing statistics for the month of March. You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

The City of Fremont would like to share the following information regarding two new housing programs funded by the Alameda County Measure A1 Housing Bond. The AC Boost Program provides financial assistance to middle-income working households to purchase a home in Alameda County. The program offers shared equity loans of up to $150,000 to first-time homebuyers who live, work, or have been displaced from Alameda County. For more information, view the  AC Boost Flyer . The Renew Alameda County (Renew AC) Program helps homeowners make renovations necessary to stay, grow, and thrive in their homes. Renew AC provides 1% interest loans from $15,000 to $150,000 to qualified homeowners. For more information, including how to qualify, visit  Renew Alameda County Flyer .

“Like-kind” means I must exchange the same type of property, such as an apartment building, for another apartment building.   FALSE A 1031 Exchange means that the sale and the purchase have to happen at the same time. In other words, the seller has to find someone willing to swap properties. FALSE My attorney or CPA can handle the exchange for me as my Qualified Intermediary. FALSE To do a 1031 Exchange I just need to file a form with the IRS with my tax return and “roll over” the proceeds into a new investment.  FALSE I can only defer my capital gains tax via a 1031 Exchange.  FALSE All of the funds from the sale of the relinquished property must be reinvested.   NOT NECESSARILY You must replace the debt that you had on the relinquished property with at least the same amount of debt on the replacement property.  FALSE Opportunity Zone Funds are another alternative to defer my taxes.  POSSIBLY When I sell my personal residence I need to set it up as a 1031 Exchange.  FALSE

BayEast posted their East Bay housing statistics for the month of February. You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

A special City of Hayward task force will discuss a moratorium on increasing rents and other tenant protections during a meeting on Thursday, March 21.  An agenda for the meeting was released March 19. The Council Homelessness-Housing Task Force was established to advise the City Council on rental housing policies.  During the March 21 meeting they will study the rent moratorium and these other issues: A mandatory mediation program with binding arbitration triggered when rents are increased more than five percent.  (Single family homes and condominiums would be exempt); Elimination of the vacancy decontrol provisions of the current Residential Rent Stabilization Ordinance; Protecting Section 8 voucher holders from discrimination; Requiring landlords file rent increase and eviction notices with the City of Hayward; and Explore requiring

During their March 5 meeting, the Hayward City Council unanimously approved an emergency that requires landlords to show a "just cause" for evicting a tenant.  The requirement applies to all rental housing in Hayward including single-family homes and condominiums. According to a press release issued by the City of Hayward, landlords must notify their current tenants of the new policy no later than April 5 and must notify all future tenants, as well. A complete list of "just causes" for eviction are available here .  For more information please contact Jennifer Ott, Deputy City Manager at: Jennifer.Ott@hayward-ca.gov

During their Feb. 19 marathon meeting lasting well past midnight, the Hayward City Council directed staff to work on the following new rental housing policies: Increasing rent, and all other charges, more than 5% would trigger a mandatory meditation process with the potential of a binding arbitration between the landlord and tenant.  This requirement would apply to all rental units except single-family homes.  It is not yet clear whether condominiums would be exempt. The current vacancy decontrol process could be eliminated altogether or possibly suspended for three to five years for the remaining 1,000 to 1,600 units in Hayward currently subject to the Residential Rent Stabilization Ordinance. Eviction for Cause would be expanded to cover all rental units including single-family homes and condominiums. Require all landlords to notify the City of Hayward when increasing rent

The Hayward City Council is considering new rental housing policies some of which will cover single family homes and condominiums. Hayward staff will present the suite of new and expanded regulations to the City Council during a work session on Tuesday, February 12.  They include: Binding landlord-tenant mediation in disputes related to rent increases exceeding five percent.  Single family homes, condominiums and rental units constructed after 1979 and would be exempt. Eliminating the vacancy decontrol provision from the existing Residential Rent Stabilization Ordinance. (RRSO) Expanding eviction for cause to all rental units including single family homes and condominiums. Adding a relocation assistance provision to the RRSO that would require a landlord to pay a tenant an amount equal to three times the Fair Market Rent as defined by the U.S

2017-2018 Rent Ordinances Annual Report The City Council will be reviewing the 2017-2018 Annual Report on the Rent Review and Eviction Protection Ordinances at their February 12, 2019 meeting. No regulatory action is being taken at this meeting.  Meeting Information City Council Meeting Tuesday, February 12, 2019 7:00 PM City Council Chambers 34009 Alvarado-Niles Road Union City, CA Agenda/Staff Report The meeting agenda and staff report can be accessed HERE and will be available online on Friday, February 8, 2019. Additional Information For additional information regarding the Rent Review and Eviction Protection Ordinances, please visit www.unioncity.org/rent-requirements Contact Information Program Administrator ECHO Housing Phone: 1-855-ASK-ECHO / 1-855-275-3246 Email: UnionCityRentReview@EchoFairHousing.org Website: www.echofairhousing.org City of Union City Housing & Community Development Division Phone: (510) 675-5392 Email: Housing@UnionCit

BayEast posted their East Bay housing statistics for the month of December. You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

Happy New Year! My amazing Escrow Officer, Jennifer Thayer, put together this graph to summarize who pays for what in 2019 as there have been a ton of changes that went into effect.  Feel free to DM me if you have any questions!