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 .

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...

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 ...

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 in...

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 defi...

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: Ho...

FEMA announced late Friday that it will once again renew flood insurance policies, which were halted during the partial federal government shutdown.  This has affected ~40,000 home sale transactions nationwide.  More info here-- https://rismedia.com/2018/12/31/nar-helps-secure-fema-reversal-shutdown/

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You may have been getting a lot of mail about this referendum, here's a 1 minute explainer:

As a Realtor, it's difficult to watch this.  I have a fiduciary duty to my clients to help them buy and sell homes, not give legal advice on how to interpret a loophole in a law.

City leaders in Hayward and Union City are considering increasing their real estate transfer taxes. On Tuesday, June 5, the Hayward City Council directed staff to survey Hayward residents about increasing the transfer tax rate from $4.50 to $10 per $1,000 of assessed value. Hayward officials claim increasing the rate would generate more than $8.7 million in tax revenue. Depending on the survey results, the Council may place the transfer tax increase on the November ballot. More information about the transfer tax increase and an on-line survey is available here . Union City is also planning to increase its transfer tax rate from $0.55 to $10 per $1,000 of assessed value. They claim the increase would generate, on average, $5 million in tax revenue. However, to increase the tax rate it would first need to convert from a general law to a charter city. Changing the City charter requires a majority vote of Union City residents. The Union City Council is holding a public hearing about ...

On April 5, 2018, the jury in a second trial ruled in favor of the listing salesperson and Coldwell Banker on all claims in a square footage case. This is the second jury to exonerate the listing salesperson and broker in the same matter. Billionaire Horiike bought a large Malibu house for $12.25 million in 2007. Although he admitted not reading any of the documents containing varying square footage such as permits, disclosures, public records, architectural drawings, he claimed the “approximate square footage” of 15,000 square feet on a flyer was a misrepresentation and a breach of the listing salesperson’s fiduciary duty. The first jury held in favor of the broker and the listing salesperson on intentional and negligent misrepresentation claims. The judge had dismissed the breach of fiduciary duty claim against the broker that was based solely on the listing salesperson’s actions as the buyer’s salesperson, also licensed with Coldwell Banker, was not named. In 2016, the Ca...

The Hayward City Council is considering tenant protections including mandatory landlord-tenant mediation. But tenant advocates may want more. The Council is holding a work session on Tuesday, Mar. 27 at 7:00 p.m. at Hayward City Hall to review tenant protection options.  Those options include the mediation program and an immediate moratorium on rent increases.   If you are a Hayward resident, own or manage property in Hayward, or represent clients in Hayward, please attend this meeting.

A message forwarded by the Rental Housing Association serving Southern Alameda County The Rental Housing Association is hosting a panel on  Subsidized Housing . Panelists will include representatives from Abode Services, Building Futures for Women & Children, Eden I&R, Housing Authority of Alameda Co., and Veteran's Affairs.  Come prepared with your questions.  Is rent payment  REALLY  guaranteed? What are  YOUR  rights as a landlord? What are the benefits to  YOU  ? What are some the safeguards in place to protect you and  YOUR PROPERTY ? Date:  Thursday, March 29 Time:  12:00 - 1:30pm Location: Castro Valley Moose Lodge 20835 Rutledge Rd . in Castro Valley This event is free and open to the public. RSVP to  caryl@rhosource.com  or by phone at  510.537.0340 .

View this in your browser Basic Housing Rights Workshop: What seniors need to know Legal Assistance for Seniors (LAS) and the Health Insurance Counseling and Advocacy Program (HICAP) serving Alameda County will be a hosting a free Basic Housing Rights Workshop. The workshop will cover: Tenant/Landlord Rights and Responsibilities Overview of the eviction process Security deposits Where to get information and resources for assistance New Union City specific policies WHERE Ruggieri Senior Center 33997 Alvarado-Niles R...