Compliance Deadline For All Rental Units
Don't forget about 1482 compliance!
In January, just struggling to understand 1482 seemed like such a daunting task.
Was your property subject to the 1482 Rent Cap or Exempt? How much was the rent cap?
Who would have guessed that over the next couple months we were going to be hit by wave after wave of new legislation? With the tsunami of new emergency orders hitting us now – don't forget that 1482 compliance deadlines are approaching soon.
1482 NOTIFICATION REQUIREMENTS
For existing tenants, remember that you must notify every tenant by August 1, 2020 whether they are exempt or subject to 1482. If you haven't already done so, use the SBRPA forms to notify every tenant if they are SUBJECT TO or EXEMPT from 1482.
Can't remember whether your property is subject to 1482?
If you want a 1482 refresher, here is a summary 1482 FAQ sheet.
2020 CPI CALCULATION
For properties subject to 1482 the annual CPI increase is the Department of Industrial Relations’ (DIR) Consumer Price Index (CPI) in April of each year. (AB1482 SEC. 3. Section 1947.12 ) See 6/24/2020 Article on Rent Cap. 2020 CPI is 6%
CURRENT STATE LEGISLATION
CalRHA recently did a presentation on current state legislation that is brewing in Sacramento. A convoluted concoction with a very bitter after taste. Presentation here.