Southern California Rental Housing Association Rental Advisor Magazine - August Issue

August 2022

From the Publisher of

See Page 19

Termites!!!!

NO TENANT MOVE OUTS

Guaranteed!

COVID SAFETY - Protecting families is more important than ever. At Xtermite, that's been our top priority all along. Our protective gear keeps you and our technicians safe, and our XT-2000 Orange Oil Plus gets rid of termites while you stay home.

We've been doing that all along too. Those tenting-and-toxin companies are no help while you're sheltering in place, and that stuff they use should never enter your home anyway. Want the protection Xtermite has been offering all along? Now's the perfect time to call for your free termite inspection, and get your termites gone.

· · · · · · · · · · · ·

XTERMITE’S XT-2000 ORANGE OIL PLUS TERMITE SERVICE:

No Tenant Displacement Free Comprehensive Inspection No Utility Cut-Off Minimally Invasive Procedure Least Toxic/Low Impact Products No Security Concerns 2 Year Full Structure Warranty (includes Annual Check-Ups and Treatments) Renewable Options Fully Licensed, Bonded and Insured (NO Sub-Contracted Personnel) Preventative Treatments Included (where applicable) No Roof Insurance Required No ADA Liabilities

Let Xtermite’s Experts in Termites and Wood Destroying Organisms resolve your tenant’s termite concerns.

Great smell of Oranges!

800-858-1694 www.xtermite.com

Real Estate Investment Opportunity Investment Highlights

9.25% Annualized

✔ 9.25% Annualized Distribution Potential*

Distribution Potential*

✔ Monthly Payments via ACH*

with monthly payments via ACH*

✔ Minimum Investment $50,000 ✔ Projected Hold Period: 4 Years with a limited liquidity feature ✔ Available for IRAs and 401ks

LEARN MORE! coveaptmgtmag.com 1.866.558.4272

✔ Accredited investors only

FOR INVESTORS SEEKING: ✔ MONTHLY INCOME POTENTIAL

✔ ALTERNATIVE TO INCREDIBLY LOW RETURNS AT THE BANK

✔ ALTERNATIVE TO STOCK MARKET VOLATILITY

*The Debentures will bear non-compounded interest at the annual rate of 9.25% per annum (365-day year basis) on the outstanding principal, payable monthly on between the twentieth and twenty fifth day of the following month. An investment in the Debentures will begin accruing interest upon acceptance and closing of the Investor’s Subscription Agreement. There is a risk Investors may not receive distributions, along with a risk of loss of principal invested.

Scan for more info!

This offering is a Regulation D, Rule 506c offering. This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Limited Liability Company owned (LLC) properties, LLC interests, promissory notes, and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and net leased properties, short term leases associated with net leased properties after the primary lease term has decreased, financing risks, potential adverse tax consequences, general economic risks including the effects of pandemics and civil unrest, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, p otential returns, potential tax benefits and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC. Cove Capital Investments, LLC and FNEX Capital are separate entities.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

3

VALUE

ADVOCACY VALUE

Presence in the community

The ultimate resource for all things related to rental housing.

Product and program diversification

Rental housing friendly public policy & elected and appointed officials

Reenvisioning quality housing for all

Robust funding for rental housing policy creation

To create a thriving rental housing community through advocacy, education, and collaboration

Resource hub

STRATEGIES Strategic alliances Fundraising Set strategic priorities

Character & integrity that negates need for regulation

OUTREACH

OUR MISSION

STRATEGIES

Recognized resource hub that inspires diverse membership growth & engagement from all sectors of rental housing.

ADVOCACY

OUR VISION

OUTREACH

People coming to SCRHA for opinion, advice, knowledge, & expertise

STRATEGIES Visibility & prominence Collaboration

Rental housing providers are recognized as valuable & essential members of the community

SOCALRHA.ORG 44| Southern Rental Housing Association Rental AMM7 Advisor April 2022 AUGUST California 2022 - APARTMENT MANAGEMENT MAGAZINE

april2022.indd 4

5/3/2022 12:40:23 PM

Volume 64 Number 08 August 2022

APARTMENT NEWS PUBLICATIONS, INC. 15502 Graham Street Huntington Beach, CA 92649 www.aptnewsinc.com 714-893-3971

PRESIDENT’S MESSAGE: PREPARING FOR THE FUTURE.... . . . . . . . . . . . . . . . . . . . . . . . . 7

By Lucinda Lilley

EXECUTIVE DIRECTOR’S MESSAGE: IT’S BETTER TO LEARN IN THE CLASSROOM THAN IN

FOUNDER : Don Smeallie, Sr.

THE COURTROOM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

By Alan Pentico, CAE

PRESIDENT: Don Smeallie, Jr. PRODUCTION DIRECTOR: Travis Watson production@aptnewsinc.com

REGIONAL LEGISLATIVE UPDATE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

CREATIVE DIRECTOR: Sean Buur sean@aptnewsinc.com

EVEN DURING DROUGHT WATER WASTE IS RAMPANT. . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

By Livable

OFFICE ADMINISTRATOR: Jessica Smith admin@aptnewsinc.com

ARE YOU PREPARED FOR WILDFIRE SEASON?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

Are you moving or having trouble receiving By San Diego Gas & Electric your magazines? We want to solve it!

Email us: admin@aptnewsinc.com

FEATURED COLUMNS:

SAN DIEGO COUNTY MULTIFAMILY FEE SURVEY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 MEMBER SPOTLIGHT: BLAIR MADRID, CALP, AMERICAN ASSETS TRUSTS . . . . . . . . . . . 35 SEVEN DST 1031 EXCHANGE TERMS EVERY REAL ESTATE INVESTOR SHOULD KNOW. 37

By Betty Friant

Are You Prepared for Wildfire Season?

By: San Diego Gas & Electric

Pg. 29

ARE YOU READY FOR REQUIRED INSPECTIONS OF BALCONIES AND EXTERIOR

ELEVATED ELEMENTS?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41

By Omid Ghanadiof

8 APARTMENT LEASING INCENTIVES THAT ENTICE RENTERS (PLUS 3 THAT DON’T). . . 47

By Steve Goyette

QUESTIONS & ANSWERS WITH KIMBALL, TIREY & ST. JOHN, LLP. . . . . . . . . . . . . . . . . . . 53

By Kimball, Tirey & St. John LLP

Required Inspections of Balconies and Exterior Elevated Elements By: Omid Ghanadiof

BUSINESS DIRECTORY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57

Pg. 41

SUPPLIER DIRECTORY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 ADVERTISING DIRECTORY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64

Apartment Management Magazine is published monthly by Apartment News Publications, Inc. at 15502 Graham Street, Huntington Beach, CA 92649. Subscription Rate: $20.00/ year with zip codes beginning with 900-935, (outside of L.A. & Orange counties $69.00/year.). The publisher and Apartment News Publications Inc. assume no responsibility for opinions expressed in articles appearing under an author's name. The contents of this publication may not be reproduced without written permission from the publisher. Bulk rate postage is paid at Bell Post Office BMC, 5555 Bandini, Bell, CA 90201.

For Advertising Information: 1-800-931-6666 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

5

2022 OFFICERS

President Lucinda Lilley, FBS Property, AMO President Elect Abigail Rex, American Assets Trust, Inc. Vice President Todd Henderson, Independent Owner

MAGAZINE STAFF Publisher Apartment News Publications, Inc. Design & Layout Travis Watson, Production Director Editorial Review Lindsey Lee, Marketing Coordinator

Secretary Shannon Kelly, Independent Owner

ASSOCIATION STAFF

Treasurer Aiesha Blevins, Greystar Legislative Chair Greystar Immediate Past President Kendra Bork, Cambridge Management Group, Inc.

2022 DIRECTORS

Angela Mallory, Greystar (Board Advisor) Buck Buchanan, Independent Owner Jay Lopeman, BG Multifamily Jennifer Ford, Douglas Allred Company John LaRaia, HG Fenton Mark Feinberg, Heinz & Feinberg Matt Ruane, Liberty Military Housing Melissa Wickerd, Natasha Howell, Millcreek, WTS Trust Scott Ledesma, Generation Contracting & Emergency Services Inc. Tom Tamar, Independent Owner

Alan Pentico, CAE, Executive Director apentico@socalrha.org 858.278.8070 Olivia Galvez, Director of Business Operations/Operational Advice ogalvez@socalrha.org 858.751.2217 Molly Kirkland, mkirkland@socalrha.org 858.751.2200 Kim Zebroski, kzebroski@socalrha.org 858.751.2220 Lorna R. Kindred, Education Manager lkindred@socalrha.org 858.751.2219 Mike Nagy, mnagy@socalrha.org 858.751.2214 Lindsey Lee, Marketing Coordinator llee@socalrha.org 858.751.2218 Alma Macias, Operational Advisor amacias@socalrha.org 858.278.8070

HONORARY LIFE ADVISOR G. Wesley Harker

Southern California Rental Housing Association Rental Advisor Magazine is published by the San Diego Multi-Housing Corporation (SDMHC) a wholly owned subsidiary of the Southern the author's views and do not necessarily represent those of the Southern California Rental Housing Association or SDMHC. All rights reserved. Materials may not be reproduced or translated without prior written permission by the publisher. Contact the Southern California Rental Housing Association at 858.278.8070 or visit socalrha.org for more information.

Advertising - We do not guarantee or endorse the products or services of any of the advertisers, but and respect for one another. Information provided in the advertisements are the sole responsibility of the advertiser. For concerns please contact the advertiser directly.

Our Address

Southern California Rental Housing Association Toll Free: 888.762.7313 Fax: 888.871.5229 socalrha.org

6

CONTRIBUTE: Educational articles in Rental Advisor

Magazine must be between 500-800

the 10th of the month before publication. Submit to socalrha@aptnewsinc.com.

ADVERTISE: Contact the team at Apartment News Publications, Inc. at 714-893-3971

or email scrha@aptnewsinc.com for advertising information, including rates, production

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Lucinda Lilley 2022 President Southern California Rental Housing Association

Preparing for the Future

Y

ou may not realize it at first, but August is a time of reflection and preparation. As students return to the classroom and housing providers prepare their budgets for the upcoming year, late summer is a time to set aside the joys of summer and prepare for autumn.

As you prepare for the upcoming year, I want to remind you that Southern California Rental Housing Association is here to support you. We take great pride in listening to the needs of our members and providing expert resources that make a difference.

Our education efforts go beyond articles and include blog posts and social media posts. I encourage you to share this information with your network and help us create a thriving rental housing community. All these efforts to learn and grow will help strengthen our ability to serve our residents and foster a stronger sense of community.

Your SCRHA membership gives you access to expert information and industry insights. Login to your Member Compass at scrha.org to access the complete survey. Not a member? Join today to access this comprehensive report on vacancy and rental rates throughout San Diego County.

As I’ve discussed in previous messages, the mission of the Southern California Rental Housing Association is to create a thriving rental housing community through advocacy, education, and collaboration. This month, I’d like to focus on the element of education for housing providers. While we have a full calendar of classes, our education efforts go far beyond the classroom (or Zoom webinar) and provide housing providers the support they need to be prepared.

Case in point, this issue of the magazine features the annual San Diego County Multifamily Fee Survey that provides updates on utility services throughout the county. Many of our members use this data to assist their budgeting process for the upcoming year. The comprehensive report is available at no additional cost to members at socalrha.org.

In addition to the annual Multifamily Fee Survey, this month’s magazine includes information on wildfire preparation from San Diego Gas & Electric. With the current drought throughout our region, we know that it’s going to be essential for housing providers to partner with residents to reduce risk and improve the safety of our communities.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

7

Recognize excellence in rental housing during the 2022 Mark of Excellence Awards.

December 2, 2022 Town & Country Resort SOCALRHA.ORG

Platinum Sponsor

Thank You to Our Association Wide Sponsors

8

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Silver Sponsors

Event Sponsors

Bronze Sponsor

Alan Pentico, CAE Executive Director Southern California Rental Housing Association

O

It’s Better to Learn in the Classroom than in the Courtroom

ne popular saying we have at Southern California Rental Housing Association is that it’s better to learn in the classroom than in the courtroom. Education has long been at the forefront of our mission and continues to be one of the core resources we provide our members.

Our Education Committee does an incredible job of scheduling industry experts to share insights and best practices with our members. The Education Calendar is on our website under the Training tab. Our classes have new logos to help you identify the seminars that are most appropriate for you.

We are also excited to announce that we now offer Education Packages. These packages allow you to purchase tickets to classes for the entire year at a discounted price. Our Education Package can be purchased by individuals or companies and includes 25 passes that allow unlimited access to SCRHA classes AND the Education Conference or a credential education package for individuals that combines the credential course AND access to SCRHA classes throughout the year. There is a package for everyone.

The highlight of our educational offerings is the Innovations in Rental Housing Education Conference & EXPO on September 7 at Town & Country Hotel. This event is your chance to attend seminars taught by

industry experts on a range of topics from legislative issues and appliacen repair to team management and emotional support animals.

While we want you to learn in a classroom, not a courtroom, we’ve expanded the idea of a classroom and see the opportunity to share educational resources in many different ways. If the past two years of living and operating through a pandemic have taught us anything, it’s that flexibility is key.

In addition to our classes and annual education conference, we provide educational resources in many ways. If you missed a class, you can purchase a recorded webinar or download a white paper on the topic. When you need one-on-one support, you can call and speak to an operational advisor and get answers to your questions.

Whether you prefer to learn on the go or join an in-person discussion in a classroom, we have something for everyone. If you can’t find what you need, I encourage you to join the Education Committee or email me at info@socalrha.org to share your ideas.

As a member-driven organization, the success of our members is our success. Please let us know if you have trouble finding the resources you need to be a successful member of the rental housing community.

Education is a two-way street, and we always want to know how we can serve you better.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

9

© Vadim Startsev | Dreamstime.com

© Adeliepenguin | Dreamstime.com

REGIONAL

© Hhunlimitedmedia - Dreamstime.com

LEGISLATIVEUPDATE

© Sumikophoto | Dreamstime.com

California Allows Proposed Project To Exceed San Diego’s Building Height Limits In Coastal Zone

C

alifornia’s Department of Housing & Community Development (HCD) and the California Coastal Commission (CCC) recently approved a proposed 60-unit apartment project in San Diego’s Pacific Beach Community.

of Mission Bay. For Decades, the San Diego Coast Height limit has kept most development at or below 30 feet. Due to San Diego’s severe housing shortage and state housing law requiring local governments to plan for and build more housing throughout their communities, San Diego City and state officials have been looking for opportunities to overrule local regulations that impede housing production.

The proposed project called the Rose Creek Apartments will be entirely deedrestricted, dedicated to very low and low-income residents. It is located on a 0.4-acre parcel and the proposed height of the project will be at least 60 feet, but building heights located in Pacific Beach and other San Diego Coastal Areas are restricted to a maximum of 30 feet according to San Diego’s Municipal Code.

However, HCD and the Coastal Commission are permitting the project to be built much taller than what San Diego’s coastal building height restrictions allow.

The state agencies contend that because the Rose Creek Apartment project will be entirely affordable utilizing state and local density bonus laws and is within one-half mile of a major mass transit corridor, the project can be built higher than permitted because state law supersedes city law in this case. The state’s current density bonus law allows Rose Creek to add another 3 stories to the project. At the same time, San Diego City Council is attempting to remove similar building height restrictions elsewhere to allow taller and more dense housing in the city’s coastal zones.

In 1972, San Diego voters approved a referendum limiting building heights to a maximum of 30 feet in the city’s coastal areas to preserve views of the coastline with exception of Downtown San Diego and portions

In 2020, the San Diego City Council placed Measure E on the November ballot. Measure E would have repealed the 30-foot building height limit in San Diego’s Midway

10

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Please turn to page

12

dennisblock

dennisblock

San Diego (38428)

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

11

Continued from page

10

Community. Despite that Measure E was approved by city voters with 57 percent supporting it; a judge overturned Measure E in December 2021 because the city should have provided more environmental analysis showing how buildings taller than 30 feet could impact the Midway Community before placing Measure E on the ballot.

In June, the City Council’s Rules Committee voted to place a similar city measure on the ballot that would repeal the 30-foot building height in the Midway Community – voters will have another chance to vote for the measure this November. Even if Measure E is approved, it would not apply to the Pacific Beach Community. The City Council hopes that voters will vote to repeal the building height restriction again to allow for taller projects in the Midway Community and the redevelopment of the Sports Arena property.

It is too early to say if the HCD and Coastal Commission decision will set a precedent for future taller, more dense projects to be built in Pacific Beach or other coastal zones. However, taller, and more dense projects in San Diego’s Coastal Zones presently have a better chance of being built with the support city and state officials.

SEVERAL SAN DIEGO CITIES LOSE COURT DECISION ON HOUSING NUMBER REQUIREMENTS Several San Diego cities filed a lawsuit against the San Diego Association of Governments (SANDAG) in 2020 alleging SANDAG’s weighted voting process, when it voted to adopt its 2021-2029 Regional Housing Needs Assessment (RHNA) plan, unfairly assigned smaller cities too many new homes. However, an appellate court dismissed the case ending their challenge to SANDAG’s voting process and RHNA plan.

In September 2020, the cities of Coronado, Lemon Grove, Imperial Beach, and Solana Beach filed a

cpl

lawsuit after SANDAG adopted its RHNA plan. The lawsuit alleged SANDAG’s adoption of its RHNA plan was flawed because of SANDAG’s weighted vote process.

SANDAG’s weighted vote, which was signed into law in 2017, changed its voting governance structure granting cities with larger populations like Chula Vista and San Diego more voting power than less populated cities like Lemon Grove or Solana Beach. Coronado, Lemon Grove, Imperial Beach, and Solana Beach contend the weighted vote unfairly grants larger populated cities greater voting power over smaller cities in SANDAG policy decisions. Thus, SANDAG’s adoption of its RHNA unjustly assigned smaller cities more new homes than they can handle. SANDAG countered that its weighted vote process was following state law and that all cities must plan for more homes because of the state and San Diego region’s housing shortage.

Under the RHNA, 6th cycle, all San Diego cities and the county saw their housing number requirements significantly increase. Under the previous cycle, Coronado was only responsible for planning or building 50 affordable units; Coronado now must plan for or build 1,001 affordable units by 2029. Likewise, the other cities must plan or build a significant number of affordable units; Imperial Beach must account for 1,375 new units, Lemon Grove 1,359 units, and Solana Beach 875 new affordable units between 2021-2029.

In June 2022, the appellate court dismissed the lawsuit ruling that SANDAG by using its weighted vote process was following state law and, unless SANDAG’s law is amended or changed by the legislative process, the court does not have the authority to overturn it.

The dismissal of the lawsuit means all cities are responsible for achieving their allocated number of new low, moderate, and above moderate-income homes.

UNDERGROUND DETECTION SERVICES

SERVING ALL OF SOUTHERN CALIFORNIA

Please turn to page

ASPHALT PAVING CONCRETE WORK

Sidewalks & Curbs • Resurfacing Seal Coating & Striping • Repairs

Free Estimates • Payment Plans Available

•Pipes•Slab Leaks•Cable Faults•Gas Leaks•Gas Surveys• Sewer Lines•Sep c Tanks•U lity Surveys•Water Main Leaks•TV & Electrical Cable•Irriga on Leaks•Post Tension Cable & Rebar•Ground Penetra ng Radar•Concrete Scanning•Leak Correlator

MGB Construction General Engineering Contractor

Great Quality & Service

Ask for Bill McClary

cell: 909-957-4731 office: 951-342-0303 Serving California for 25 Years

12

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

15

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

13

Certified Apartment Manager Learn in person at Southern California Rental Housing Association! Class series starts October 10, 2022, in San Diego, California.

For more information, visit naahq.org/CAM.

WE RECOMMEND THIS COURSE for community managers and experienced assistant managers.

Earning your CAM credential allows you to demonstrate that you have the knowledge and ability to manage an apartment community and achieve the owner’s investment goals.

YOU’LL LEARN ABOUT: • Occupancy rates

• Apartment turnover

• Comprehensive marketing plans

• Working with contractors and suppliers

• Sales team management and product readiness

• Recruiting high-caliber employees

• Equitable treatment of current and potential residents

• Employee orientation, training, and evaluation

• Resident retention and maintaining a positive company image

• Analyzing the property’s financial operations and taking corrective actions for underperformance

• Communicating with residents

• Monitoring property performance to achieve the owner’s investment goals

• Employment regulations and record keeping

• Customer service and issue resolution • Enforcing company policy and complying with laws and regulations

• Accounting principles and practices

• Property inspections

• Reporting property performance accurately

• Maximizing net operating income

• Preventive maintenance programs • Service requests’ management

For me, earning my credentials meant solidifying myself as a true player, here for a long-term career, not just a job. It helped me build confidence in my role as a regional manager. I learned more of the “why” behind things that we do daily. I built relationships with other students and phenomenal instructors. Achieving my CAM and CAPS credentials are two of the best things I have ever done for my professional development.

Shane Raby CAM, CAPS, Notary Regional Property Manager TRIBRIDGE RESIDENTIAL

14

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Continued from page

12

All cities in the San Diego Region that fail to meet their assigned RHNA housing unit targets potentially could face penalties or other punitive actions from the state.

SAN DIEGO CITY COUNCIL APPROVES BALLOT MEASURE REPEALING THE CITY’S PEOPLE’S ORDINANCE The San Diego City Council took another step with what could result in the change or repeal of the city’s People’s Ordinance. The council’s action last June allows the city’s labor relations staff to begin the ‘meet and confer’ process to amend the city’s municipal code if the People’s Ordinance is eventually changed or repealed.

The People’s Ordinance adopted in 1919 prohibits San Diego from charging most single-family homes in the city a separate fee for trash service; however, the city can charge businesses and multifamily properties a fee for that same service. Last year, Council President Sean Elo-Rivera introduced a plan to initiate a process that could eventually repeal the ordinance by placing a measure on the city’s November 2022 ballot.

Supporters say the People’s Ordinance must be repealed, or at least amended, because San Diego

cannot afford to continue providing free trash service or achieve its climate action goals. A 2009 Grand Jury report concluded the cost of the People’s Ordinance will balloon to $234 million annually by 2023 if not changed or repealed. If approved by voters this November, the ballot measure would allow the city to initiate a process allowing the city to change or repeal the ordinance.

However, even some supporters voiced concerns with changing or repealing the ordinance when businesses and households are seeing fee and rate increases in other city services. The Southern California Rental Housing Association is closely monitoring the ballot measure but has not taken a position on it.

RIVERSIDE COUNTY SUED OVER REDISTRICTING The Americans for Civil Liberties Union (ACLU), Inland Empire United, and several county voters filed a lawsuit against Riverside County in June. The lawsuit is an attempt to dissolve the County Supervisor electoral maps approved by the County Board last year and force the county to redo its redistricting process again.

Please turn to page

16

kennedyelectric

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

15

Continued from page

15

The lawsuit alleges that County Supervisors did not follow federal and state redistricting laws when they adopted the Supervisor districts and Latinos living in the county are not being properly represented as a result. The lawsuit contends that County Supervisors redrew the districts to make it easier for them to win reelection; the County rejects the allegations.

The groups began criticizing the County’s redistricting process last year. The groups argued the districts need to reflect the dramatic increase of the county’s Latino population over the previous decade. According to the 2020 Census, Latinos represent about half of Riverside County’s total population. Critics of the Supervisor districts point out there is only one Latino County Supervisor despite Latinos representing half of the county’s population. The groups had advocated for a plan that would add two new county supervisor districts, known as Map 1.4, but County Supervisors disagreed with the proposed map opting for district maps based on the county’s existing 5 Supervisor districts.

Even if the court rules in favor of the plaintiffs’ lawsuit, it will not overturn the 2022 elections. County District 2 Supervisor Karen Spiegel and District 4 Supervisor Manuel Perez, who ran unopposed, won reelection 16

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

outright in the June 7 Primary. The race for the County’s District 5 will be decided this November when incumbent Supervisor Jeff Hewitt faces Mayor of Moreno Valley Yxstian Gutierrez. If the courts rule in favor of the lawsuit, Supervisors will likely have to run for election in 2024 depending on the court’s ruling.

The County Board of Supervisors’ authority to determine their districts could be in jeopardy in the future. Assemblymember Sabrina Cervantes introduced AB 1307 earlier this session which passed the Assembly and is waiting to be heard in the State Senate later this year. If enacted into law, redistricting of County Supervisor seats will be determined by an independent redistricting commission, not by the County Board of Supervisors.

Your SCRHA membership gives you access to expert information and industry insights. Login to your Member Compass at socalrha.org to access the complete survey. Not a member? Join today to access this comprehensive report on vacancy and rental rates throughout San Diego County.

S e r v i n g A l l O f S a n D i e g o Co u n t y California State Contrac tors License #748915

SCRHA Member SDCAA memberSince since1977 1977 americanbathtub

Porcelain and Fiberglass Sur faces North County 760-940-9200

619-265-9200 858-642-9200

Bathtub Refinishers • Expert porcelain and fiberglass refinishing • Repairs of chip and cracks or completely refinish • Weak bottoms

Bathtub Liners / Complete Bathroom Remodels • Designed to fit over your existing tub.

• Commercial and Residential • Will not disturb plumbing, walls or floor.

• Will not chip, dent, crack or peel.

• Installed in just two hours for same day use.

619-265-8126

All of our S er vices: • Porcelain Sinks • Porcelain Bathtubs • Wall Sinks • Bath Bowls • Kitchen Sinks • Kitchen Counter Tops

• Fiberglass Bathtubs • Fiberglass Showers • Pedestal Sinks • Vanity Counter Tops • Tile Surrounds • Wall Surrounds

• Crack & Chip Repair • Plumbers Cutouts • Terrazzo Pans • Complete Support & Cutouts

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

17

Mitigate Risk with NAA Click & Comply

RISK MITIGATION Automate and trust that your properties NAA’s newest performance management and compliance software allows property management companies to consolidate processes and systems into one place for ease of use, transparency and communication for your teams.

are remaining compliant.

Benefits: RISK MITIGATION

SOPS

• Mitigate risk across your entire portfolio • Extend the list of costly equipment INSPECTIONS

PREVENTATIVE MAINTENANCE

• Achieve consistency and compliance • Save time and avoid costly violations • Build accountability and trust through real time visibility

REPORTING

COMPLIANCE

MUNICIPAL CODES

PREVENTATIVE

Affiliate Logo Here

Learn more or request a demo at comply.naahq.org.

18

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

W

ith dire weather events such as the current Califor nia drought, it’s as crucial as ever to reinforce conservation practices as a property owner or manager. Water and energy c o n s e r v a t i o n e ff o r t s w i l l protect community lifestyle and, equally as important, allow you to increase the net operating income (NOI) of your property. Across the country, property owners are seeking solutions for revenue generation since the usual tactics - like raising rent - aren’t always possible.

A great - and obvious - way to increase your NOI is by focusing on reducing consumption, thereby reducing expenses. With a utility-centered approach, you can increase your property’s income and help the planet. The approach is simple: cut costs by cutting back utility use. Here’s how a focus on conservation education can positively impact your expenses, lifestyle, and the environment.

WATER IS BEING WASTED In a year, the average family spends more than $1,000 in water costs. Based on information shared

by the U.S. Environmental Protection Agency (EPA) the average American uses 82 gallons of water per day. This means that in a 30-day period, a family of four uses almost 10,000 gallons of water. Leaks make up a significant portion of that; the average family can waste over 700 gallons per month just from household leaks.

In current times of drought, there are simple practices you can focus on that will yield significant impacts: ● Avoid unnecessarily flushing the toilet or disposing waste in the toilet. ● Rely on short showers. ● Don’t let water run during household tasks. ● Use excess water for chores such as watering plants. ● Hand wash dishes. ● Store drinking water. ● Decrease laundry loads by fully loading washing machines. ● Do not leave sprinklers or hoses unattended and running.

Please turn to page

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

21 19

www.MoneyTalkRadio.com Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory Services offered through Concorde Asset Management, LLC (CAM), an SEC Registered Investment Advisor. Financial Designs is independent of CIS & CAM. This is for informational purposes only, does not constitute as investment advice, and is not legal or tax advice. There are material risks associated with investing in real estate securities including illiquidity, general market conditions, interest rate risks, financing risks, potential adverse tax consequences, general economic risks, development risks, and potential loss of the entire investment principal.

Preferred Partner of

Special offers available for members

Finally, Ratio Utility Billing with NO Unit Minimums!

You too can offset rising utility costs with Ratio Billing and Conservation Education.

Free Recovery Estimate! wwwLlivaSleLcomQscrha

12 | Southern California Rental Housing Association Rental Advisor April 2022

april2022.indd 12

20

5/3/2022 12:40:37 PM

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Continued from page

19

Remember, targeting household utilities is always a smart and easy strategy for reducing consumption and utility bills.

CONSERVATION VS EFFICIENCY Both conservation and efficiency are means of reducing consumption of a resource – whether that resource is water, energy, or something else.

It’s tempting to use the words ‘conservation’ and ‘efficiency’ interchangeably. But in reality, conservation and efficiency refer to two different – but related - things.

Conservation is about adjusting behaviors and habits to use less water/energy, while efficiency refers to using less of a resource to perform the same function. For example, installing energy efficient lights is an energy efficiency method, while turning off the lights when they aren’t needed is an energy conservation method.

Both are equally important endeavors, impacting operating income and eco-conscious lifestyles.

ENERGY RATES ARE RISING Back in 2019, the U.S. Energy Information Administration (EIA) reported that the average monthly electric bill for residential customers was $115. That year, the average price of electricity was 13.01cents/kWh. Of course electricity rates vary from place to place, but since 2019 energy rates all over America have been on the rise.

In fact, home energy prices have outpaced inflation which is already at a 40-year high in the U.S. according to the Guardian. With the cost of energy on the rise, it doesn’t help that households waste a lot of electricity. Studies have shown that 35% of residential energy consumption in the U.S. is wasted energy.

YOUR TENANTS ARE KEY IN YOUR CONSERVATION STRATEGY There are many things that a property owner can do to facilitate lower water and electricity use on their property. WaterSense labeled products are 20% more water-efficient and perform as well as (and sometimes better than) standard models, according to the EPA. You could replace old, inefficient faucets on your property with WaterSense labeled models, but if your tenants continue to leave the faucet running while they brush their teeth and shave, a lot of water is still being wasted.

Share conservation tips with your tenants so they are aware of the things that they can do to conserve water and energy. A study by the Yale Program on Climate Change Communication found that Americans are becoming increasingly worried about global warming and increasingly supportive of climate solutions. It’s likely your tenants are interested in conservation and just need to be equipped with the knowledge and tools necessary to get involved!

Go a step further and share utility data with your tenants. Let them know just how much their unit, or even the whole building, is using. This can empower them to make informed decisions about their utility use. They can track the efficiency of their unit, and get the information that they need to refine their personal conservation approach and be even more conscientious about utility use.

One way to do this is by sharing utility data in a newsletter that highlights conservation trends on your property. Technology can be a powerful asset to the modern property owner, especially where conservation is concerned. By using a smart billing company, you can get access to software that Please turn to page

22

STOP PAYING FOR TENANT SCREENING Create Your Free Account! anp.ApplyConnect.com

800.288.4757 *Renters pay $29.95 or the landlord/agent may choose to cover cost.

opt. 7

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

21

Continued from page

21

simplifies the communication of utility data and also gives tenants tips they can use to lower their usage.

and square footage, to ensure fair and accurate billing to tenants.

BILLING: A BETTER INCENTIVE TO CONSERVE

Property owners and tenants can build a community of conservation around RUBS. As a property owner, when you use this system, you make your residents aware of what their share of the utilities are, keeping them informed of trends and incentivizing them to conserve. By actually making tenants directly financially responsible for their utility use, you can offset the rising costs of utilities and increase your bottom line.

It’s easier to stay on track with conservation goals when you’re accountable for your consumption.

Seeing month-to-month utility costs and trends can provide motivation, more so if you’re financially responsible for the utilities you use.

A study compiled by the National Apartment Association and the National Multi Housing Council showed that residents manage their utility use more carefully when they have to pay separately for their share of the water service as opposed to when these costs are embedded in rent. This study found that implementing a ratio utility billing system (RUBS) in particular resulted in an approximately 6-18% reduction in water use.

HOW RUBS IS A TOOL FOR CONSERVATION AND COST CUTTING A ratio utility billing system divides a property’s utility costs among residents based on selected criteria.

This system takes into account many different factors, like unit occupancy, common area amenities

22

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

There are important guidelines to follow with RUBS implementation. For example, in rent-controlled markets, tenants can only be enrolled on turnover.

A utility billing expert can help you navigate RUBS implementation and get the maximum possible benefit out of this system.

Livable is a full-service residential & commercial real estate billing partner. Focusing on bulk amenity/ utility billing, our mission is to promote savings and conservation through education. Our suite of cloud services and end-to-end solutions helps to reduce monthly consumption, overall expenses and adds more money to your bottom line. To learn more, visit livable.com/apn.

forward-thinking. Now, Gen Z is Gen Z job seekers cite a company’s not as concerned with recreation commitment to diversity as an or downtime at the office, rather important factor in deciding a financial investment in their whether or not to accept an offer.” future. However, stock options Here it is very important for a and a standard 401(k) won’t cut it company to talk the talk and walk when they are actually searching the walk. Diversity and inclusion for “student loan assistance, cannot just be a phrase in your tuition reimbursement, and company’s mission statement or The SCRHA Business Directory of maternity and paternity benefits.” a committee that meets once a Suppliers is where you'llquarter. find the This generation values a work-life This dedication needs products and services you need balance and is highly optimistic to be seen into initiatives like for the future, so these types asking one’s pronoun preference, run a successful rental business. of benefits will not only attract adequate accommodations for but also encourage them to stay differently-abled, Use an SCRHA memberthose firstwho to are invest and take advantage of these policies to ensure fair and equal in businesses that support a thriving opportunities. pay, etc.

feel if it’s a right fit, the offer should be made. “Nearly one in five Gen Zers expect a job offer one week from the initial phone screen. The majority expect an offer within two weeks.” Whether this expectation is realistic or not, companies that make an actionable change to speed up their hiring process will win top Gen Z talent. *Statistics pulled from Yello

rental housing community!

They Want to See Diversity and They Want an Offer, and They Inclusion Wantwith it NOW Scan the code to connect This highly educated, Standard HR procedures make SCRHAhighly Supplier Members! diverse generation is craving it difficult to establish a hiring a passion and dedication to committee and follow the correct diversity and inclusion from their protocol when extending an offer. employers. As a result, “86% of Gen Z wants no part of that. They

Generation Name

Birth Years

Baby Boomers

1946-1964

Gen X

1965-1980

Millennials

1981-1996

Gen Z

1997-2012

www.SoCalRHA.org

So CA 3.625x4.875

Power-up your NOI

westerntowing

Net Operating Income

With an all-inclusive bulk internet solution for your property, we can help you boost revenue.

Future-ready fiber is an investment to power-up your property value.

We’ve got you covered Instant WiFi is uniquely designed for multi-dwelling properties to provide property-wide WiFi coverage.

Multifamily developers and owners engage with us

Although our fiber service usually means 100% fiber-optic network to your residence, in limited circumstances Quantum Fiber may need to deploy alternative technologies coupled with a non-fiber connection from a certain point (usually the curb) to your residence in order to provide the advertised download speeds.

Service is not available everywhere. Quantum Fiber may change, cancel, or substitute offers and services, or vary them by service area, at its sole discretion without notice. All products and services listed are governed by tariffs, terms of service, or terms and conditions posted at www.q.com/legal. Restrictions apply. © 2022 Q Fiber, LLC. All Rights Reserved. Quantum, Quantum Fiber and Quantum Fiber Internet are trademarks of Quantum Wireless LLC and used under license to Q Fiber, LLC. 24 | Southern California Rental Housing Association Rental Advisor April 2022 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

april2022.indd 24

23

5/3/2022 12:40:55 PM

Preferred Partners As a member of Southern California Rental Housing Association, you have access to discounts on the products and services provided by our Preferred Partners. Visit socalrha.org/preferred-partners for details!

socalrha.org 24

MAY AUGUST 2022 2022 - APARTMENT - APARTMENT MANAGEMENT MANAGEMENT MAGAZINE MAGAZINE AMM7 AMM7

CELEBRATING Griswold Real Estate Mgmt., Inc. Clark Commercial Investments J. C. Jensen Company John Souza Company Barbara Strong Company Leon Edmonds Company Sherry Ann Hackett Company Team Bourda Incorporated Ocean Realty William Hilsdorf Company Donald & Adla Tessier Ruben Ascanio Company Nick Frank Company Bonnell Goycochea Company Hoppe Casa Del Sol, LLC Larry M. Kelly Thomas Lowe Cox Realty William Hagerty Company Marsha Reece Company Celeste Taylor Company Doris McDowell Company Joanne Freitas Kevin Dean Company Mike D'Angelico Company David Anderson Company James and Nancy Essery Henry Cagle Company Debbie Postlethwaite Company Louisa Golden Company Hector Lopez Company Sycamore Properties John Stoll Company Duane Lucca Company Richard Lesser and Don Taylor Small Properties, LLC Finch Management Corporation Doris Erenea Company MCM Enterprises Rutledge Kent Trust Eva and Shauna Aiken Thatcher Properties, Inc. Georgette Gavin Company Investors Property Management Group Life Deck Coating Installations Robson Associates Philip and Joanna Pieper Albemarle, LLC Earnel and June Durden The Helm Management IMOJIM, Inc Hilleary Park Miramar Capeharts Miramar Milcon Miramar PQ & Orion Miramar Townhomes Park Summit Prospect View Ramona Vista Silver Strand II

1968 1968 1971 1972 1973 1973 1973 1975 1975 1975 1976 1976 1976 1977 1978 1978 1979 1980 1982 1983 1984 1987 1987 1987 1987 1988 1988 1989 1990 1993 1993 1993 1993 1993 1994 1994 1994 1995 1995 1996 1996 1996 1997 1997 1997 1997 1998 1998 1999 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000

CELEBRATING

an ANNIVERSARY This Month

10+ years of membership

Vista Ridge Woodlake Tellervo Luostarinen Company Home Terrace La Mesa Park Pomerado Terrace| Pomerado District Liberty Military Housing Admiral Hartman Bayview Hills Beech Street Knolls Rasor Properties Delevan Lisk Company Canyon Rim| Fairfield Residential Vista Del Mar Investments| Oceanview Terrace Apts.

South Bay Community Services America's Finest Carpet Company Villa Gardens AMFLP Robert & Ann Blakemore Ray & Susie Mathews Phil Kasavage Company Arnold Baynard Marlyn McDonald Company Glenn Hom and Rosemarie Lim Mike Urbano Company Arturo Hoffman Company Canyon View Chesterton Chesterton Townhomes Chollas Heights & Historical Eucalyptus Ridge Howard Gilmore Terrace Lofgren Terrace Mira Mesa Ridge Orleck Heights River Place Santo Terrace Silver Strand I Terrace View Villas Village at NTC Village at Serra Mesa Frank Real Company Ben Zanin Company Sholeh Mahmoudian Company Conservice Utility Billing & Mgmt Laura Middlebrook Company Barbara Brooks Company Phillips Investment Corporation of California Phillips Realty & Management Inc. Mike Fogarty & Laura Shoemehl Aero Ridge Randi Osen Company Robert O'Dwyer Company James S Dunlop Company Charles Been Company 355 Dodson LLC Draper LLC TSD Unlimited Warren Properties, Inc. Marcia Martin Company Karl Grusendorf Company

2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2000 2001 2001 2002 2002 2002 2002 2002 2002 2002 2003 2005 2005 2005 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2006 2007 2007 2007 2007 2007 2007 2007 2008 2008 2008 2008 2009 2009 2009 2010 2011 2011 2011 2011

an ANNIVERSARY This Month

10+ years of membership

account, account,ororwere weretaken takenunder undernew newownership, ownership,the themember memberwill willnot notappear appearhere. here.IfIfyou youfeel feelthat thatyour yourmembership membershipshould shouldbe beininthis thislist listand andisisnot, not,please please contact contactthe thepublications publicationsdepartment departmentatatpublications@socalrha.org publications@socalrha.org SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

25

CALENDAR Register at socalrha.org Register for events and classes online at socalrha.org. Please note, that all in-person classes Questions? Contact us at events@socalrha.org or 858.278.8070.

August 10

10:00A - 11:00A

The Journey Home Mapping Out the Prospect & Resident Experience

Instructors: Melissa DeCicco, Satisfacts Resident experience and reputation are the new, intangible amenities for apartment communities. In this session, we will venture into new territory and explore best practices for engagement and connection for both prospect and resident satisfaction.

We will map out what has changed in renter preferences and how to get the most mileage out of your efforts to win the experience journey ICONand KEY set you apart from your competition.

August 17

3:30P - 5:00P

City Of San Diego Retroactive Fire Alarm Requirements And Inspection Fees

City of San Diego Retroactive Fire Alarm Requirements Webinar Instructor: Daniel Hypes, Assistant Fire Marshal, City of San Diego Fire-Rescue Department California fire code requires that an apartment house with 3 or more stories, existing as of January 1, 1975, have in place a fire alarm system capable of warning all occupants. This could mean a retrofit for yourKEY ICON rental property.

Featured Innovations in Rental Housing

9:30A - 3:00P

Education Conference & EXPO September 7, 2022 With more than 100 exhibitors and six seminars included in the tradeshow admission, the SCRHA Innovations in Rental Housing Education Conference and EXPO brings you the latest trends in the industry while providing solutions to all your maintenance and management needs.

ICON KEY

26

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

September 19

8:00A - 5:00P

Advanced Electrical

Instructor: Peter Cline, The Phoenix Staffing This class goes further and will get into the indoor breaker box as well as heavy on troubleshooting. This class is the next step up in electrical work. This course is designed for maintenance workers looking to gain additional in-depth hands-on understanding of complex control circuits.

This course is intended to be taken only after completion of the Electrical Troubleshooting & Preventive Maintenance course. Hands-on lab activities are theICON focusKEY of this class.

September 21

10:00A - 11:00A

Solution Series: Reputation Management Is Not Enough This session breaks down the components that drive a renter’s onsite experience and what teams can do to control the online narrative.

September 29

2:30P - 3:30P

Supplier Council

SCHRA wants to help our supplier members be successful. This is great opportunity to hear new ideas and share yours. We hope that you’ll take the time to join us.

ICON KEY

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

27

SAN DIEGO GAS & ELECTRIC & 211 PARTNERING FOR YOUR SAFETY

We all need a little help sometimes. During wildfire season, some of us need a little more help. That’s why SDG&E® is working with 211 San Diego to help provide additional customer assistance if a Public Safety Power Shutoff is necessary.

To get connected to community, health, social and disaster services, please call 211 or visit 211sandiego.org.

© 2021 San Diego Gas & Electric Company. Trademarks are the property of their respective owners. All rights reserved.

28

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

ARE YOU PREPARED?

H

igh winds, dry vegetation, and low humidity continue to elevate the risk and frequency of major wildfires across California. When these weather conditions occur in combination, your electric utility may need to temporarily shut off power to help prevent wildfires. This temporary outage is called a Public Safety Power Shutoff (PSPS) and while inconvenient, it is a preventative step that must be taken to help keep customers and communities safe.

If you receive electric service from PG&E, SDG&E or SCE and you own or manage a master metered, multi-family dwelling located in a Tier 2 or Tier 3 high fire-risk area, take these important steps TODAY to prepare and stay informed:

• Keep contact information current to receive PSPS alerts or, sign up to receive them if enrollment is required by your electric service provider.

• Encourage your tenants to sign up for alert notifications (they can receive PSPS Address Alerts for any address they care about, even if the electric bill is not in their name).

• Review your emergency plan and tenant roster to ensure both are current.

Sign up for alerts, view outage tips and learn more about your electric service provider’s customer care programs, including rebates for backup power devices at prepareforpowerdown.com.

Pacific Gas and Electric Company (PG&E), San Diego Gas & Electric (SDG&E) and Southern California Edison Company (SCE) contributed to this article

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

29

A refreshingly simple way to manage your properties Residential

Commercial

Affordable

Self Storage

Discover what you can do with intuitive & powerful property management software

Condo/HOA

Breeze

Starting at

$1

Easy setup Property accounting Vacancy & prospect tracking ILS posting Online applications Online payments Online maintenance Email & text communications Walk-in payments with PayNearMe Vendor payments Owner payments & reports Live chat support Renters insurance† Resident screening† Corporate websites† Property websites†

per unit per month*

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Online lease execution†

“

Yardi Breeze is easy to use.

Tenant tracking, maintenance requests and online support …

I love everything about it!

Customer relationship management

Danielle Drozdek RB Homes, Inc.

Corporate accounting

”

Job cost tracking Rent deferment Rent control Invoice approval & processing Customizable financial statements Menu-level security *Minimums apply

yardibreeze

Manufactured

Breeze

Starting at

unit $2 per per month*

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

†Additional fees apply

Get a free, personalized demo to see why thousands of companies choose Yardi Breeze YardiBreeze.com | (800) 866 -1144

april2022.indd 26

30

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

5/3/2022 12:40:57 PM

San Diego City-County Multifamily Fee Data Sheet for FY 2022-2023

T

he Southern California Rental Housing Association’s MultiFamily Fee Survey for the San Diego region posts information on housing data, current and pending changes in fees for each jurisdiction in the San Diego Region. The Association sent questionnaires in May to the County of San Diego and each city in the San Diego Region requesting the jurisdictions to provide information on housing

stock, sewer, trash, and water rates for residential properties, and anticipated rate changes in the Fiscal Year or Calendar Year, 2022-2023.

To download the full report, please visit socalrha.org.

You will need to log in to your account to download the complete report.

If you aren’t a current member of Southern California Rental Housing Association, you can create a guest login and purchase the comprehensive report at socalrhra.og.

FREE ADMISSION! WITH REGISTRATION HU N D R ED S O F VEN D O R S & ED U C ATI O N A L SEM I N A R S

October 18th, 2022 9am - 4pm Pasadena Convention Center

To reserve a booth call us today

(800) 931-6666

PR E-R EGISTER N O W IPMEXPO.COM

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

31

401(K) PLANS DENTAL INSURANCE MEDICAL INSURANCE WORKERS COMPENSATION LIABILITY BENEFITS VOLUNTARY BENEFITS LIFE INSURANCE

32

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Welcome New Members INDEPENDENT OWNERS

Adagio Luxury Apartments | Greystar Al Ju Company Anita L. Barkelew Ariel Castillo Garrido Company AV8 | Greystar Bella Terra Apartments | Greystar Cambridge Maintenance and Property Services, Inc. Casoleil Living | Greystar Charles Murdock Lucas Company Crest 850 | Greystar ECB Esprit Luxury Villas | Greystar Feldman-Scarr & Wolman First Onsite Four Pillars Lighting, Plumbing & Furniture Frank Sapienza Greenfield Village | Greystar Jackson Pointe 111 | Greystar Jo Lancaster Company Joanne Stevenson-Bellomo Company Kacie Planavsky Company Lakeview 88 | Greystar Legacy | Greystar Marcelle Bronson Properties MCG COMPANY Melissa Ouellette Company

Metro Mission Valley | Greystar Missions at Rio Vista | Greystar Monterey Property Management Ocean Air | Greystar Palomar Station | Greystar Phyo Ko Company Ridgestone | Greystar Rivue | Greystar Roro Salerno | Greystar Seta Apartments | Greystar Shadowridge Woodbend | Greystar Silo | Greystar Softwind Point | Greystar Sola at Pacific Highlands Ranch | Greystar Sorano | Greystar Sunbow Villas | Greystar Susan West Company The Casas | Greystar The Crnkovic Family Trust The Heritage | Greystar Village Square | Greystar VK Smith Realty LLC Whitfield Capital LLC Windsor Real Estate

PROPERTY MANAGERS Five Peaks Property Management Holland Partner Group Urban Coast Properties, Inc.

SUPPLIERS Aire-Master of Coastal California SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

33

ARE YOU DONE WITH THE HEADACHES OF RENTAL PROPERTY? CALL YOUR LOCAL DST ADVISOR

• • • • •

Potential for monthly cash flow and capital appreciation Potential to defer capital gains taxes Potential close in as little as 3-4 days Help build a diversified portfolio Invest in “out-of-state” properties 1031capitalsolutions

• • • • •

No need to obtain a loan Low minimum investment amounts Institutional asset and property management Pass through tax benefits No escrow

“ My mission is to provide expert advice that helps investors escape the burdens of traditional rental property ownership, and 1031 exchange into potentially 100% passive income DST properties.”

Jason McMurtry, MBA Managing Partner

To learn more, visit 1031CapitalSolutions.com or call us at (800) 445-5908 DST 1031 properties are only available to accredited investors (typically defined as having a $1 million net worth excluding primary residence or $200,000 income individually/$300,000 jointly of the last three years; or have an active Series 7, Series 82, or Series 65. Individuals holding a Series 66 do not fall under this definition) and accredited entities only. If you are unsure if you are an accredited investor and/or an accredited entity, please verify with your CPA and Attorney.

This is for informational purposes only, does not constitute as individual investment advice, and should not be relied upon as tax or legal advice. IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax concepts, therefore you should consult your legal or tax professional regarding the specifics of your particular situation.

Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated. Diversification does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk.

Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC (CAM), an SEC registered investment advisor. 1031 Capital Solutions is independent of CIS, CAM and CIA.

34

april2022.indd 17

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

April 2022 socalrha.org | 17

5/3/2022 12:40:48 PM

Blair Madrid, CALP, American Assets Trusts

C

ongratulations to Blair Madrid, CALP, American Assets Trust, on earning her Certified Apartment Leasing Professional credential from NAA. Learn more about her experience on taking the course at SCRHA and passing the exam.

TELL US ABOUT HOW YOU STARTED WORKING IN THE MULTI-HOUSING INDUSTRY? WHAT MOTIVATED YOU?

I stumbled into the industry, as most do, through a friend. I started working at our corporate office, and then a leasing position became available at Loma Palisades, and I jumped at the opportunity to interview.

HOW LONG HAVE YOU BEEN IN THE LEASING? I have been in the industry now for about nine years.

WHAT WAS YOUR EXPERIENCE TAKING THE EXAM? The exam was exactly as described. It contained a lot of the information that was taught in the courses. To prepare for the exam, I studied the knowledge checks and did the practice test about five times. I feel as though doing the practice test and re-reading the knowledge checks really benefited me as a lot of the questions were tailored from those documents.

WOULD YOU ADVISE YOUR CO-WORKERS AND COLLEAGUES TO GET THE CALP? I would definitely suggest for anyone within the multifamily leasing industry get the certification. It allowed me to refresh a lot of my knowledge, and I found that networking with industry colleagues was helpful in sharing best practices.

WHAT ADVICE WOULD YOU GIVE SOMEONE WHO WANTS TO GET THEIR CREDENTIAL?

WHAT MADE YOU DECIDE TO GET YOUR CREDENTIAL? I decided to get my credential to better myself as a Leasing Manager. Going through the course allowed me to freshen up on hot topics and learn more about the leasing profession. This training allowed me to bring the knowledge back to my team and assist them in their growth and training.

WHAT WAS THE EXPERIENCE WITH THE CLASSES? My experience was fantastic. The instructors were very knowledgeable, and they kept the classes interesting!

I would advise them to pay close attention to the knowledge checks at each course completion and focus on the math. Memorizing the math equations and making sure they really make sense to you is important for the exam. I would also advise them to build relationships with their classmates. Test preparation is much more enjoyable when you have others to bounce your thought processes off of!

If you are ready to take the next step in your career, learn more about upcoming courses at socalrha.org.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

35

Simply and efficiently generate legally compliant leasing documents to better serve your residents.

Available in

50 States

Over

6,000,000

Units in the U.S.

Management Companies Utilizing NAA Click & Lease:

Legally Compliant

Ensure Compliance & Reduce Risk Online & Paperless

Streamline your process with default community settings, reporting & e-signatures.

Integrates With All PMS Software Integrates with your current Property Management Software. No need to retrain staff!

naahq.org/lease 36

april2022.indd 2

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

5/3/2022 12:40:19 PM

SEVEN DST 1031 EXCHANGE TERMS EVERY REAL ESTATE INVESTOR SHOULD KNOW

BY BETTY FRIANT

Senior Vice President Kay Properties and Investments, LLC

KEY TAKEAWAYS:

Therefore, Kay Properties thought it would be a good idea to present some of the most important investment terms that all Delaware Statutory Trust 1031 Exchange investors should know.

• Knowing key terms for a 1031 Exchange is important for investors • What is the definition of “beneficial interest” and how does it relate to DST’s?

• What is a Tenant In Common Investment?

B

• Do you know what a Qualified Intermediary is?

ecoming a serious 1031 Exchange real estate investor can involve a significant learning curve. For example, there are many investment terms that every investor should know and understand in order to better understand the nuances surrounding 1031 Exchange real estate investments and help find success as an investor.

1. DST: This term stands for “Delaware Statutory Trust” which is an entity that is used to hold title to investment real estate. A DST is also a powerful real estate planning tool because it allows “beneficial interest” ownership where multiple investors can share ownership of a single property or an entire portfolio of properties. A DST is often paired with the 1031 Exchange.

Pairing these two entities together allows for individual investors to diversify* their investment dollars into multiple properties and potentially mitigate concentration risk of over-concentration in their investment properties. This can potentially be accomplished by investing in DSTs with properties in different geographies, in many of the asset classes, and with various property

Kay Properties and Investments, LLC is a national Delaware Statutory Trust (DST) investment firm with offices in Los Angeles, San Diego, San Francisco, Seattle, New York City and Washington DC. Kay Properties team members collectively have over 94 years of real estate experience, are licensed in all 50 states, and have participated in over $7 billion of DST real estate. Our clients have the ability to participate in private, exclusively available DST properties as well as those presented to the wider DST marketplace; with the exception of those that fail our due-diligence process. To learn more about Kay Properties please visit: www.kpi1031.com Call: 1-855-8994597 or email: info@Kpi1031.com SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

37

managers, asset managers, and sponsoring companies.

2. TIC: This term means “Tenancy in Common”, and refers to an investment arrangement where two or more individuals share the ownership rights of a property that qualifies under the rules to be used as like-kind in a 1031 Exchange. TIC investments must comply with IRS Rev Proc 2002-22 which has a limit on the number of investors. This gives the TIC entity unique challenges where each investor is named on the mortgage and each investor has the right to vote on decisions concerning the property which can be cumbersome in a co-ownership arrangement.

This property can be commercial or residential.

TIC allows investors to own different percentages of a property. Tenants in common can leave their share of the property to anyone of their choice upon their death.

3. NNN: Anytime you see three N’s in a row when referring to real estate, it will invariably be referring to the concept of triple net lease investing. This is a lease agreement where the tenant promises to pay all expenses of the property. This includes real estate taxes, building insurance, and maintenance. Typically, these are expenses of the landlord. However, in a NNN lease agreement, the tenant pays these expenses along with rent and utility fees. Tenants generally pay a lower rent charge by taking on these additional expenses. Triple net leases have become popular as they have the potential to provide low-risk steady income to investors.

4. 1031s: Section 1031 is probably one of the most familiar passages in the Internal Revenue Code (IRC). These numbers refer to an IRS provision that allows individuals to defer tax on qualifying exchanges of like-kind real estate. To utilize this tax strategy investors must take certain steps when selling and buying real estate. The replacement real estate must be like-kind, tax must be paid on any boot in the year of the exchange, and replacement real estate must be identified within 45 days and acquired within 180 days to utilize the 1031 exchange.

5. QI: The letters “QI” typically refer to a Qualified Intermediary. The Qualified Intermediary is an accommodator or facilitator that works as an entity that facilities 1031 tax-deferred exchanges.

They act like the glue that puts the buyer and seller of property together into the form of a 1031 Exchange. A QI is an individual who enters into a written agreement with the taxpayer of a property.

The QI acquires the relinquished property from the taxpayer, transfers the relinquished property to the buyer, acquires the replacement property from the seller, or transfers the replacement property to the taxpayer.

6. PPM: Anytime an investor is involved with a private or public investment vehicle, a Private Placement Memorandum (PPM) will be involved. A PPM is a document that divulges everything an investor needs to know before investing in a Regulation D Offering. The PPM is very beneficial to an investor as it details the investment opportunity, disclaims legal liabilities, and explains the risk of losses. All real estate investors are strongly advised to carefully read the PPM and consult their tax attorney or CPA prior to investing.

7. IOI: When real estate investors become interested in a particular real estate asset or portfolio, they will usually request more information on the property in question. In many cases, the seller will provide a document called an Indication of Interest (IOI). An IOI is an informal proposal that is non-binding and designed to provide the investor more information on the investment. For example, IOI’s typically include property details like leasing data, square footage, and market overview.

An IOI might also include due diligence plans, aerial photos, and site maps. Finally, the IOI will typically include information about the sponsoring seller of the real estate asset.

Knowing and understanding these acronyms will help in placing you on a path of success in the investment world. You might want to keep this list of the alphabet soup of acronyms handy as you research the world of investment real estate.

This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing.

IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation. There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed.

Nothing contained on this website constitutes tax, legal, insurance or investment advice, nor does it constitute a solicitation or an offer to buy or sell any security or other financial instrument. Securities offered through FNEX Capital , member FINRA, SIPC.

38

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

April 2022- socalrha.org 37 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION SCHRA.ORG | 39

april2022.indd 37

5/3/2022 12:41:16 PM

40

april2022.indd 33

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

April 2022 socalrha.org | 33

5/3/2022 12:41:12 PM

Are You Ready for Required Inspections of Balconies and Exterior Elevated Elements?

California’s Senate Bill 721 (SB721) and Senate Bill 326 (SB326) Mandate Compliance by Statutory Deadlines

G

By Omid Ghanadiof, EEE Advisor Engineering

et ready! January 1, 2025 is the deadline for compliance with both Senate Bills 721 and 326 for multifamily rental properties and condominiums that contain three or more dwelling units. Applicable residential property owners and homeowners’ associations (HOAs) throughout California must have inspections of balconies and exterior elevated elements at their properties. Property owners and manages, and HOAs should seek the help they need before the deadline and become familiar with the inspection criteria to ensure they are in compliance with the so-called “California Balcony Inspection Laws.”

WHAT MUST BE INSPECTED? EXTERIOR ELEVATED ELEMENTS (EEES) These two state laws are designed for buildings that

contain three or more dwelling units. Senate Bill 326 is for condominiums, and Senate Bill 721 is for apartment buildings. The laws emerged following a balcony collapse in the City of Berkeley, which then established a local balcony inspection ordinance, and many of the local ordinance’s provisions have been incorporated into state law. Accordingly, required inspections must be made to any elevated element structures. Exterior Elevated Elements are building elements that are constructed of wood, have a walking surface, have any portion sitting 6-feet above the ground, and that extend outside of the four walls of a structure. Exterior Elevated Elements include balconies, outside decks, porches, exterior stairways, and exterior walkways that have a walking surface that is elevated more than six feet above ground level according to these ordinances. Required inspection includes waterproofing system supports and railings, and load bearing component.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

41

LOAD-BEARING COMPONENTS Under Senate Bill 721, load-bearing components are “those components that extend beyond the exterior walls of the building to deliver structural loads from the exterior elevated element (EEE) to the building.”

Senate Bill 326 gives a more descriptive definition of “load-bearing components” as components that extend beyond the exterior walls of the building to deliver structural loads to the building from decks, balconies, stairways, walkways, and their railings, all designed for human occupancy or use, supported in whole or in substantial part by wood or wood-based products, and associated waterproofing systems including flashings, membranes, coatings, and sealants that protect the load-bearing components of Exterior Elevated Elements from exposure to water.

VISUAL INSPECTION COMPLIANCE Under Senate Bill 721, the minimum requirements for inspection include “identification of each type of exterior elevated element that, if found to be defective, decayed, or deteriorated to the extent that it does not meet its load requirements, would, in the opinion of the inspector, constitute a threat to the health or safety of the occupants.” Senate Bill 326; however, defines visual inspection as “inspection through the least intrusive method necessary to inspect load-bearing components, including visual observation only or visual observation in conjunction with, for example, the use of moisture meters, borescopes, or infrared

42

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

technology.” One of the major challenges with visual inspection compliance is understanding the terms, especially visual inspection, as it is required by the law, which is where the team at 3EAdvisor Engineering can assist you.

Inspectors will provide a written report that lists the components that have been checked and that describes their condition, including estimates of the components’ remaining functional life, any necessary repairs, and a report on any immediate dangers to occupants. The Senate Bill 326 report will be incorporated into the HOAs’ next reserve study, and HOAs will be required to keep the reports for at least two inspection cycles, that is, up to 18 years.

If the inspector in the Senate Bill 326 or 721 report identifies any issues that require repairs to be made, but the property owner or HOA board member decides not to address the issue, an inspector is then required to notify the local jurisdiction about the condition.

Moreover, if a building element fails and someone is injured as a result, there could be severe liability for any property owner or any HOA and HOA board member.

The distinctions between the required inspection cycles under Senate Bill 721 and Senate Bill 326 are striking. The timeframe under Senate Bill 326 is at least once every nine years, except for new common interest buildings. But, under Senate Bill 721, subsequent inspections need to be completed by January 1st every Please turn to page

45

Response

griswold

6 | Southern California Rental Housing Association Rental Advisor July 2021 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG 18 | Southern California Rental Housing Association Rental Advisor April 2022

43

payrent

The Safe & Simple way to Collect and Report Rent Payments

Scan Me 44

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Continued from page

42

six years following the initial inspection. In addition, Senate Bill 326 does not specify any fines; however, the inspection report is incorporated into the HOA’s reserve study and it will likely be subject to the same penalties as failure to comply with the Davis-Stirling Act. Local enforcement agencies have the ability to collect enforcement expenditures, according to each of Senate Bills 721 and 326.

SAMPLE SIZE OF INSPECTIONS Described as “the biggest divergence between the law meant for apartments and the law meant for condominiums, sample size for inspection under Senate Bill 721 is just 15% of each type of Exterior Elevated Element shall be inspected. Under Senate Bill 326; however, sample size is a bit more elaborate.

Senate Bill 326 requires any inspection to include

“a sufficient number of units inspected to provide 95% confidence that the results from the sample are reflective of the whole, with a margin of error of no greater than plus or minus five percent.”

Understanding the terms of each of these state laws and subsequently ensuring compliance can sometimes be a daunting task, especially for inexperienced engineers and contractors, let alone property owners and managers or members of an HOA board. Consequently, it is imperative that you hire only experienced professionals to ensure safety and of course, compliance with these very complicated laws. 3Eadvisor Engineering has the knowledge and experience you need to ensure your inspections are completed in accordance with the law, and also to ensure safety of your residents and to reduce your risk of liability.

Omid Ghanadiof is a co-founder of EEE Advisor Engineering, a specialized engineering structural inspection firm active located in Southern California. EEE Advisor Engineering assists rental property owners and homeowners associations (HOAs) with compliance with state mandated balcony inspections per Senate Bills 721 and 326. EEE Advisor Engineering is a leading engineering inspection company that assists clients in meeting the January 1, 2025 deadline for compliance with Senate Bills 721 and 326. For more information, contact Mr. Ghanadiof at (805) 312-8513 or info@EEEadvisor.com.

SCHOLARSHIP PROGRAM Support leaders in rental housing by contributing to our Rental Housing Scholarship program.

Your donation to the Rental Housing Scholarship is an investment in the future of our industry.

DONATE AT SOCALRHA.ORG SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

45

Մենք խոսում ենք հայերեն,

Since 1967

DIRECT DISTRIBUTOR TO THE MULTIFAMILY OWNER, INVESTOR, MANAGER, BUILDER, CONTRACTOR, & DESIGNER

NH: 818-769-8000 | www.ApartmentSupply.com | VN: 310-450-8585

THIS SEPTEMBER

THANKING OUR CUSTOMERS FOR THE PAST 55 YEARS AND LOOKING FORWARD TO SERVING YOU FOR 100 MORE! CALL US NOW FOR SUMMERTIME AIR CONDITIONER SPECIALS

Our most popular builder-model air Window / Wall Air Conditioners THOUSANDS AVAILABLE conditioners are available to order now!

These units slide into most existing wall COOLING ONLY sleeves larger than 24" wide and 14½" LG 5,000 BTU: $20800 tall and include a trim-kit…

LG 8,000 BTU: $36100

Portable Air Conditioners Midea 12,000 BTU Cooling Only: $46000 Haier12,000 BTU Cooling Only: $51100 Midea 14,000 BTU w/ Heating: $54600 GE 13,500 BTU w/ Heating: $65600

Thru-The-Wall Replacement Units (Trim-Kit Included) 8,000 BTU Cooling Only: $42600 12,000 BTU Cooling Only: $50200 14,000 BTU Cooling Only: $59600 9,000 BTU Cooling w/ Heat Pump: $1,08300 12,000 BTU Cooling w/ Heat Strip: $51100 14,000 BTU Cooling w/ Heat Strip: $54900

Midea 10,000 BTU: $40000 LG 10,000 BTU (WiFi Enabled): $45100 Midea 10,000 BTU Casement: $47700 LG 12,000 BTU: $53300 LG 12,000 BTU (WiFi Enabled): $55400 LG 14,000 BTU (WiFi Enabled): $65400 LG 18,000 BTU: $68800 Midea 25,000 BTU: $74700 COOLING w/ HEAT Midea 8,000 BTU (115v): $48900

CALL NOW FOR BEST PRICING OR VISIT OUR WEBSITE:

SINCE 1967: 5720 Lankershim Boulevard North Hollywood: 818-769-8000

ApartmentSupply.com

New Showroom: 14117 Vanowen Street Van Nuys: 310-450-8585

APARTMENT REPLACEMENT | CONTRACT SALES | NEW CONSTRUCTION | SINGLE-FAMILY SA ME-DA Y O R NEXT -DAY D EL IVER Y AND INST ALLATION AVAIL ABL E! CALL US FOR MORE INFO R MATIO N PRICES, SI ZES, AVAILABI LITY & MODELS ARE SUBJECT TO CHANGE ANYTIME WITHOUT NOTICE

46

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

8 Apartment Leasing Incentives That Entice Renters (Plus 3 That Don’t)

T

by Yardi breeze

he best apartment leasing incentives are the ones that entice renters (without hurting your bottom line). That can take trial and error to get right. Some renters may not be enticed by a waived security deposit, but they might be interested in flexible lease terms. Every community, and every renter, is different.

conscious renters. There’s arguably no better way to get someone’s attention than a free month of rent.

(Some properties go as high as six weeks!)

Let’s explore the incentives property managers can use to attract renters. At the end of the article, we’ll also touch on three leasing incentives that don’t work and explain why.

A security deposit is a safety net for you and your owners. It might not be possible to eliminate, but you may be able to reduce it. This can be done across the board or only for select renters with high credit scores, good rental history, etc. If you’re a property manager who collects first and last month’s rent in addition to a security deposit, you might be able to ease one or more of those requirements. That’s an easy way to make your property more enticing to prospects.

1. RESIDENT REFERRAL PROGRAM

The first apartment leasing incentive on our list is actually more of a benefit for current renters. The incentive could be reduced rent or even a free month of rent. A resident referral program is a great way to build a stronger, tighter community. After all, residents will be “paid” to live closer to friends or family. If you have a program like this, make sure your internal communications are promoting it repeatedly.

It’s expensive to move, especially for long-distance or out-of-state renters. Between moving fees, first/last month’s rent and security deposits, a move-in special might be the push a prospect needs to consider renting from you.

3. REDUCE THE SECURITY DEPOSIT

4. OFFER LONGER LEASE TERMS

2. GIVE A FREE MONTH OF RENT

A free month of rent has the potential to negatively impact your monthly reports. It might be easier on your bottom line if you offer reduced rent on a lease.

This spreads your free month incentive over the course of a 12-month lease. The upside is that you don’t have a big hole in your earnings for the month, and renters still get a great leasing incentive.

Some property management businesses offer leasing incentives that make a big difference to budget-

As another option, you can provide discounts for longer leases (18 months or more). That ensures less

And don’t forget: Happy renters are more likely to provide references, and they’re more likely to leave positive property reviews.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

47

turnover and provides a special incentive for longterm residents.

5. OFFER SHORTER LEASE TERMS There are circumstances where a little creativity will get your property filled faster. Students and seasonal workers might be looking for shorter leases in the sixto nine-month range. With a shorter lease, short-term residents don’t have to stay where it no longer makes sense for them to live. They’ll save money on rent because they have the freedom to move on sooner, penalty-free.

6. WAIVE PET DEPOSITS (APPLIES ONLY TO PETFRIENDLY PROPERTIES) According to the 2022 NMHC Renter Preferences Survey Report, 51% of respondents prefer petfriendly apartments. So in addition to making your pet policy easy to find online, consider making your properties even more welcoming to pet owners.

If your prospects with pets are considering your property and a comparable property in the area, they’ll be more likely to choose the one that waives (or reduces) the pet deposit.

7. OFFER THE AMENITIES YOUR COMMUNITY WANTS There are so many ways to create value without offering free or reduced rent. The 2022 NMHC Renter Preferences Survey reveals the best amenities according to renters. To get you thinking, check out the top-10 list of renters’ favorite features and amenities, starting with the most desired: 1.

In-unit washer and dryer

3.

Soundproof walls

2.

4.

5.

6.

7.

8.

9.

10.

Air conditioning

High-speed internet access Garbage disposal Walk-in closet Dishwasher

Pre-installed window shades/blinds Patio or full balcony Microwave oven

Don’t just go by this list. Your apartment community preferences are probably different than the national average. On your next tenant satisfaction survey, ask your residents to rank the amenities listed above.

Add in a few that make sense for your property. That will tell you what people love about living there as well as what may be missing.

48

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

PAY ATTENTION TO THE TRENDS The popularity of some amenities can wax and wane.

For instance, “better modular closet systems” saw the highest year-over-year increase in interest. In 2020, this feature only appealed to 56% of renters surveyed. In 2022, this figure grew to 72%. That’s a 16-point difference! It’s also a sign that people are looking for more customizable storage space — a good thing to know when you’re looking to add amenities.

8. SUBSCRIPTIONS TO GYM, GROCERY DELIVERIES, ETC. If it’s not in your budget or floor plan to add a gym — but your renters want one — you might be able to compromise by subsidizing their gym memberships.

See if you can partner with a local gym for a free or discounted membership. You might be able to do the same with a grocery delivery service such as DoorDash or Uber Eats.

Just keep in mind that a subscription is nice, but it’s not the most powerful apartment leasing incentive.

There’s no comparison to free or discounted rent.

That said, it’s a budget-conscious incentive that might help entice more renters to your community.

APARTMENT LEASING INCENTIVES THAT DON’T WORK Now that we’ve looked at the best leasing incentives, let’s look at some of the worst. These three “incentives” all lack credibility because they don’t really save the renter any real money. (Aka don’t nickel and dime your community when it comes to leasing incentives.)

1. GIFT CARDS While it sounds like a nice part of a move-in package, a gift card to a local shop or restaurant isn’t much of an incentive to rent. Residents are looking to save hundreds of dollars or more (depending on rent in your area). A coffee break or restaurant experience doesn’t even come close.

2. PROPERTY IMPROVEMENTS The reason we’re including this here is because property improvements are a standard part of market rate rental pricing. You won’t necessarily be able to increase rent just because you put in new appliances.

If the appliances are old and in need of replacement, you’re simply doing what you need to do to stay competitive, attract prospects and retain residents.

Of course, if you really go above and beyond with Please turn to page

51

Affordable Housing

The San Diego County Board of Supervisors and the San Diego Metropolitan Transit System (SDMTS)

An affordable housing builder began construction on a project called the Las Haciendas Apartments in Temecula. The apartment community is being

Future-proof your laundry. wash

Keep your residents happy with WASH’s digital laundry room solutions.  Mobile pay, credit card and laundry card options  Unparalleled security  Fewer service calls, vandalism and theft  Refunds, service requests, payments and more through the WASH-Connect mobile app

Visit wash.com/mobile or call 800.777.1484 to future-proof your laundry room today!

Ditch the quarters and choose mobile pay!

April 2022 socalrha.org | 11

WS22-018 Future-Proof Ad 7_5x4_875.indd 1

april2022.indd 11

12/30/2021 9:11:28 AM

TIRED OF TOILETS, TENANTS AND TRASH? INVEST IN OUR MORTGAGE FUND.

5/3/2022 12:40:36 PM

Consistent, reliable returns 9+% per year for the past six years • 10+ years in business • 6 years of consecutive 3rd party audits • Quarterly distributions • 9.23% net to investors for 2020

CA DRE # 01912381 | NMLS # 951838

To learn more about how to participate: (415) 475-8800 ext. 1 or www.RedTowerCapital.com/landlord

REAL ESTATE LENDING AND INVESTMENTS SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

49

50

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Continued from page

48

luxury amenities and appliances, you might have a case for treating these upgrades as leasing incentives.

3. GIFT BASKETS & WELCOME PACKAGES It’s thoughtful of you to provide a welcome package or gift basket to new residents. Such a package might include snacks, replacement household items like light bulbs, a guide to local restaurants and activities, gift cards, etc. And don’t forget a handwritten welcome letter!

However, while a welcome package might help your new renter feel more at home and starts your relationship off on the right foot, it doesn’t make sense to offer one as an apartment leasing incentive.

Just imagine what “free gift basket for new leases” would look like on a billboard! Not too impressive.

Counterpoint: Not everyone believes in apartment leasing incentives If an incentive results in higher retention and shorter vacancies, you stand to profit in the long run from any discounts in the short run. Still, incentives are as controversial as they are popular. Not everyone thinks they’re a good business practice. Some people think incentives cheapen your brand and image.

On the other hand, the right leasing incentive is eyecatching and can keep your brand top-of-mind for future renters. If your properties are being outpriced by a local competitor, you might not be able to lower rent, but you can entice prospects with something else.

If nothing else, an incentive can get people talking to you. That means leads you might have missed without an incentive.

Yardi Breeze is property management software designed for you. Our refreshingly simple platform puts you in charge of marketing and managing your entire portfolio, with support for residential, commercial, affordable, self storage, HOA/condo and manufactured properties. Rest easy knowing your reports are accurate with Yardi’s trusted, built-in accounting system to track your revenue and expenses. And since Breeze is in the cloud, you can work from anywhere and get fantastic support when you need it.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

51

(619) 867-1713

52

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Questions &Answers

by Kimball, Tirey & St. John LLP

Q A Q

uestion: In a co-signer situation what forms do you recommend that the co-signer sign along with the tenant?

nswer: They should sign a separate guarantee agreement that has been reviewed by competent counsel.

uestion: As resident managers, we are dealing with several tenants in violation of pet rules. In retaliation, they have made false accusations of us entering their apartments without notice. They are now disturbing other tenants with this untruth and questioning our integrity. How can we protect or defend ourselves?

A

nswer: California law does not prohibit a landlord from charging the tenant a bona fide late charge after the rent is delinquent. The rent is not delinquent unless one business day has passed at the time the rent became due. If the rent is due on the first and the first is on a weekend, a late charge could not be imposed until after the first business day expires.

A

Q A

Q

Q

nswer: You can serve a Three-Day Notice to Perform Conditions and/or Covenants or Quit to permanently remove the unauthorized pets, if permitted by your local moratoria, if any in place. If you can prove the pets are still there after the notice expires, you can file for unlawful detainer.

uestion: I want to start charging a late charge in my future leases. Is there a law stating how many days after the due date must expire before a late charge can be imposed?

uestion: What happens when the lease expires? Is it assumed that the agreement goes month-to-month? Or should a new agreement be signed? nswer: If the lease does not speak to renewal or reversion to month-to-month and the tenant remains in the premises with the landlord’s consent, the law will presume a month-to-month agreement if the rent is paid and accepted by the landlord. It then can be terminated by either side serving the other with a written Thirty-Day or SixtyDay Notice to Quit unless subject to a just cause provision like AB 1482 or a local provision.

uestion: I have a lease with two male tenants.

The lease specifies two occupants only. One of the tenants has a girlfriend who spends the night every day of the week for the last month. How do you determine when a guest is an occupant?

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

53

A

nswer: Unless the tenant admits to having another person move into the rental unit, you need to prove that they are occupying the unit through circumstantial evidence. Proof of facts such as receiving mail at the premises, coming to and from work on a daily basis, present on weekends, or making requests from management all could lead a trier of fact to conclude that the person is an occupant of the premises. The required level of circumstantial evidence may vary from different jurisdictions.

Q

uestion: Is there a law for returning the security deposit within a certain time frame?

If I missed the due date is there an automatic penalty? I overlooked accounting for a deposit and it has been 25 days.

A

nswer: California law allows residential tenants and landlords to contract for up to 21 days for the accounting and, if applicable, return of all or a portion of the tenant’s security deposit. There is no automatic penalty for being late. It is advisable to have the accounting provided within 21 days, even if the accounting provides for the estimates for work not already completed.

Q A

uestion: When we have called attention to a violation of the lease or community rules, tenants frequently will say we are “picking” on them. How can we protect ourselves? nswer: First, make sure you are enforcing the lease and community rules equally to all violators. The best way to avoid or minimize legal challenges is by documenting all incidents and responding in a consistent manner.

Q A

uestion: When typing up a new lease, should we use the spelling of the tenant’s names as it appears on the application or on their driver’s license? nswer: It is important to be consistent on how you spell their name in the event legal action is necessary. It is best to use the name exactly as it appears on their driver’s license and request that they fill out the application in a manner consistent with this request.

Q A

uestion: If a one-year residential lease is broken, what becomes of the security deposit?

nswer: Once the tenants have vacated the premises and the landlord has taken over possession, the time to account for the use of the security deposit (normally 21 days) begins.

The deposit can be used for any monies owed the landlord including delinquent rent left over from the contract.

Q A

uestion: I have single family homes that I have for lease. They have large, well- maintained gardens. How do I best ensure that they are kept up? nswer: Your best bet is to hire a gardener yourself, build the cost into the rent and have the lease read that the gardener has permission to enter the property for gardening, landscaping, mowing etc. That way you have more control over the price and the quality of the work done.

Kimball, Tirey & St. John LLP is a full-service real estate law firm representing residential and commercial property owners and managers. This article is for general information purposes only. Laws may have changed since this article was published. Before acting, be sure to seek legal advice. For contact information, please visit our website. www. kts-law.com. © 2022 Kimball, Tirey and St. John LLP

LOOKING FOR NEW BUSINESS?

Advertise in Apartment Management Magazine, and make your business services available to more apartment owners and managers monthly.

Just call (714) 893-3971 or (800) 931-6666 for advertising rates and information.

54

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

2022

INNOVATIONS IN RENTAL HOUSING EDUCATION CONFERENCE & EXPO

SEPTEMBER 7, 2022 TOWN & COUNTRY HOTEL SAN DIEGO 500 HOTEL CIR N, SAN DIEGO, CA 92108

Exhibit at the SCRHA Innovations in Rental Housing Education Conference & EXPO to grow your business and build relationships.

Meet independent owners and property managers.

Showcase your products and services.

Increase your visibility with event sponsorships.

RESERVE YOUR BOOTH & BECOME A SPONSOR Need more details?

Contact our team today! socalrha.org | 858.278.8070 events@socalrha.org

Thank You to Our Association Wide Sponsors Bronze Sponsor

Platinum Sponsor

Silver Sponsors

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

55

2022 Sponsorships Diamond Sponsor $11,000 Exhibitor Member | $12,500 Exhibitor Non-Member

Ruby Sponsor - Stage Sponsor $2,200 Exhibitor Member | $3,000Exhibitor Non-Member

Sapphire Sponsor - Photo Booth $1,650 Exhibitor Member | $2,000 Exhibitor Non-Member

Emerald Sponsor - Event Bag $1,450 Exhibitor Member | $1,800 Exhibitor Non-Member

Increase Your Visibility

Amethyst Sponsor - Grand Prize $1,100 Exhibitor Member | $1,350 Exhibitor Non-Member

Garnet Sponsor - Lanyard $880 Exhibitor Member | $1,000 Exhibitor Non-Member

Pearl Sponsor - Decal $700 Exhibitor Member | $1,000 Non-Member

Jade Sponsor - Water Station

Reach Your Target Audience

$770 Exhibitor Member | $1,000Exhibitor Non-Member

Onyx Sponsor - Coffee Station $2,500 Exhibitor Member | $3,000 Exhibitor Non-Member

Coral Sponsor - Passport $675 Exhibitor Member | $825 Exhibitor Non-Member

Build Relationships

Amber Sponsor - Lounge Area $550 Exhibitor Member | $725 Exhibitor Non-Member

Keynote Sponsor

Scan the code to become a sponsor!

$5,100 Exhibitor Member | $6,000 Exhibitor Non-Member

General Education Session Sponsor $550 Exhibitor Member | $1,000 Exhibitor Non-Member

socalrha.org | 858.278.8070 56

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

socalrha.org | 58.278.8070 events@scoalrha.org

2022

REGISTER TO ATTEND $15 Members $30 Non-Members Scan the code to register!

INNOVATIONS IN RENTAL HOUSING

EDUCATION CONFERENCE & EXPO

SEPTEMBER 7, 2022 TOWN & COUNTRY HOTEL SAN DIEGO 500 HOTEL CIR N, SAN DIEGO, CA 92108 The SCRHA Innovations in Rental Housing Education Conference and EXPO brings you the latest trends in the industry while providing solutions to all your management and maintenance needs.

socalrha.org | 58.278.8070

8:30 AM - 9:15 AM: Legislative Update Presented by Molly Kirkland, Director of Public Affairs and Pat Moran, Aaron Read & Associates

1:00 PM - 1:45 PM: You Bet Your Assets! What You Need to Know about ESA Processing Presented by Victoria Cowart, CPM, Director of Education and Outreach, PetScreening

10:30 AM - 11:15 AM: Team Leadership and How to Hold Your Team Accountable Presented by Alex Winborn, VP of Residential Asset Management

2:00 PM - 2:45 PM: San Diego Apartment Market Overview Presented by Josh Ohl, Director of Market Analytics for San Diego with the CoStar Group

11:30 AM - 12:30 PM: Rise above the Chaos with Carolyn Gross Presented by Keynote Speaker, Carolyn Gross

2:15 PM - 3:00 PM: Appliance Repair Class Presented by Peter Cline, The Phoenix Staffing

Thank You to Our Association Wide Sponsors Bronze Sponsor

Platinum Sponsor

Silver Sponsors

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

57

2022 EXHIBITORS A-1 All American Roofing of San Diego, Booth 414 Advanced Excercise, Booth 609 Aire-Master of San Diego, Booth 707 All Valley Washer Service, Booth 09 American Bathtub Refinishers, Booth 706 Apartments.com, Booth 103 Bald Eagle Security Services, Inc., Booth 900 BG Multifamily, Booth 910 Bio One, Booth 322 Cable, Pipe & Leak Detection, Inc., Booth 314 California Safety Agency, Booth 514 Corporation for Supportive Housing, Booth 612 County of San Diego Housing and Community Development 610 Dish Network, Booth 310 Dunn-Edwards Paints, Booth 502 Four Seasons Tree Care, Booth 511 General Coatings Corporation, Booth 607 Generation Contracting & Emergency Services, Booth 504 Griswold Real Estate Management, Inc., Booth 318 HD Supply, Booth 311 HD Supply, Booth 410 Hometown Restoration, Booth 412 Interior Logic Group Property Services, Booth 207 InterSolutions, Booth 208 Kimball, Tirey & St. John LLP, Booth 308 KJ Carpet Wholesale, Booth 320 Legacy Custom Cushions Inc, Booth 714 Life Deck Coating Installations, Booth 212 Lloys Pest Control 908 Luther Burbank Savings, Booth 312 Optimum Seismic, Booth 304 Pacific Bathtub Refinishers, Inc., Booth 507 PCC Trip Hazard Removal, Booth 711 PetScreening, Booth 509 PrintWithMe, Booth 315 Redi Carpet, Booth 222 Reliant Parking Solutions, Booth 606 Restoration Managment Company, Booth 611 Saga Security, Inc., Booth 313 San Diego Backflow Testing, Inc., Booth 306 San Diego Backflow Testing, Inc., Booth 306 SD Wood Cabinet, Booth 205 Security First, Booth 203 Security First, Booth 203 Southwest Equity Partners 709 Sully-Jones Roofing, Booth 500 The Phoenix Staffing, Booth 302 USGI - Upland Group, Booth 715 WASH Multifamily Laundry Systems, Booth 615 Western Towing, Booth 307 Yardi Systems, Inc., Booth 109 Zumper, Booth 210

58

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Scan the code to sign up today! socalrha.org 858.278.8070

# 655 WB Operating LLC . . . . . . . . . . . . . . (619)702-0655 A ADD Realty, Inc. . . . . . . . . . . . . . . . . . . . . . (619)232-6811 All Points Real Estate . . . . . . . . . . . . . . . . (619)298-7724 Alliance Investment Corp. . . . . . . . . . . . . (858)597-4900 AltaCima Apartment Homes . . . . . . . . . . (858)565-8333 American Assets Trust . . . . . . . . . . . . . . . . (858)350-2564 Antelope Ridge (Sentinel Real Estate) (951)672-8181 Arbor Terrace . . . . . . . . . . . . . . . . . . . . . . . (619)293-3612 Arbors at California Oaks Apartment Homes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (951)461-3264 Asset Property Management . . . . . . . . . (858)560-9363 Avenue 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . (206)582-3333 Award Property Mgmt . . . . . . . . . . . . . . . . (619)471-1755 B Barone Galasso & Associates, Inc. . . . . . (619)855-5241 Bob Cota Realty . . . . . . . . . . . . . . . . . . . . (619)465-9934 Book and Ladder . . . . . . . . . . . . . . (949)209-8347x0029 Brennan And Associates Inc. . . . . . . . . . (619)475-2470 Brentwood Management Co. . . . . . . . . . (619)220-8595 Bridge Property Management . . . . . . . . . (801)716-5795 Brycorp, Inc. . . . . . . . . . . . . . . . . . . . . . . . . (619)920-7174 Buchanan Property Management Corp. (619)269-0276 C CASAVIDA . . . . . . . . . . . . . . . . . . . . . . . . . (858)454-8857 Cambridge Management Group, Inc. (619)497-0771 Campus Village 1, 2 & 3 | 6 Star Properties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)583-3339 Chase Pacific Property Management and Real Estate Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)271-8841 Choice Properties / Point Loma Real Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)223-4075 Cirrus Asset Management, Inc. . . . . . . . . (818)222-4840 City View Apartments|Greystar . . . . . . . . (619)234-0134 Common Living Inc. . . . . . . . . . . . . . . . . . (844)612-6697 Community Research Foundation, Inc. (619)275-0822 Core Property Group . . . . . . . . . . . . . . . . (619)399-7279 Cushman & Wakefield . . . . . . . . . . . . . . . . (949)224-2929 D Delta Property Management . . . . . . . . . . (619)465-5851 Domain | STYL/Magnolia Capital . . . . . . (858)292-1111 Douglas Allred Company . . . . . . . . . . . . . (858)793-0202 E Eagle Glen Apartments | Greystar . . . . . (951)461-4565 Elevate SD Properties . . . . . . . . . . . . . . . . (619)535-8112 Elite Property Management . . . . . . . . . . . (619)823-3712

Encore Realty, Inc. . . . . . . . . . . . . . . . . . . . (619)742-5678 Euston Management . . . . . . . . . . . . . . . . (858)793-8899 F FBS Property Management, AMO . . . . . (619)286-4721 Five Peaks Property Management . . . . . (619)814-7505 Foothills at Old Town . . . . . . . . . . . . . . . . (951)676-7545 G Gables Oak Creek . . . . . . . . . . . . . . . . . . . (951)600-9696 Gables Point Loma . . . . . . . . . . . . . . . . . . (619)223-6577 Gables at Alta Murrieta . . . . . . . . . . . . . . . (951)698-0628 Griffis Mission Valley . . . . . . . . . . . . . . . . . (619)220-0530 Griswold Real Estate Mgmt., Inc. . . . . . . (858)597-6100 H H.G. Fenton Company . . . . . . . . . . . . . . . (619)400-0120 Hanken, Cono, Assad & Co. . . . . . . . . . . (619)698-4770 Hanover Little Italy . . . . . . . . . . . . . . . . . . . (619)677-1799 Heartland Associates Inc. . . . . . . . . . . . . (619)462-2082 HeetWave Properties . . . . . . . . . . . . . . . . (888)557-4338 Holland Partner Group . . . . . . . . . . . . . . . (360)940-0251 HomeTeam Property Management . . . . (619)872-7368 Homes Management, ATS Homes, Inc. (760)432-4663 Horizon Properties Management Service(619)482-3054 Humphreys Residential . . . . . . . . . . . . . . (619)865-0389 I IPI Property Management . . . . . . . . . . . . (858)277-2700 ISG Real Estate . . . . . . . . . . . . . . . . . . . . . (619)500-5860 Iconic on Alvarado | BH Management Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)286-3990 Income Property Advisors Inc. . . . . . . . . (858)279-1500 Interfaith Housing Assistance Corporation . . . . . . . . . . .

(619)668-1532 Investors Property Management Group (760)967-4764 J JHB California Properties, LLC . . . . . . . . (760)722-6421 Jensen Properties . . . . . . . . . . . . . . . . . . . (858)449-7294 Johnston Property Management, Inc. (760)944-0703 K KFR STAR Realty . . . . . . . . . . . . . . . . . . . . (619)293-7653 Kleege Enterprises . . . . . . . . . . . . . . . . . . (858)481-3081 A Leonero Properties . . . . . . . . . . . . . . . . . . (619)273-4350 Liberty Military Housing . . . . . . . . . . . . . . (858)874-8100 Logan Property Management . . . . . . . . . (619)260-5562 Lyon Living . . . . . . . . . . . . . . . . . . . . . . . . . (949)838-1274 M MG Properties . . . . . . . . . . . . . . . . . . . . . . (858)658-0500 Maya Linda Apartments . . . . . . . . . . . . . . (858)566-5350 Melroy Asset Management . . . . . . . . . . . (858)483-5111 Mill Creek Residential . . . . . . . . . . . . . . . . (714)800-1391 Mira Bella Apartments | Simpson Property Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)560-5720 Modera San Diego | Mill Creek Residential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)500-8509 N Nick Pappageorgio Company . . . . . . . . . (858)357-9472 Noah Realty . . . . . . . . . . . . . . . . . . . . . . . . (858)504-0416 O Ocean Breeze Apartments|Greystar . . . . (619)428-3369 Olympus Property . . . . . . . . . . . . . . . . . . . (858)268-8858 P Pacific Commercial Management, Inc (858)450-6886 ParkLife Real Estate . . . . . . . . . . . . . . . . . (619)435-9100

Parkdale Apartments | Norco Mgmt. Corp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)737-9017 Pasas Properties, Inc. . . . . . . . . . . . . . . . . (619)607-7560 Paul Langley Company . . . . . . . . . . . . . . (415)431-9104 People Helping Others Prop. Mgmt. . . . . (619)282-5400 Pierside North | Greystar . . . . . . . . . . . . . (949)202-3991 Pierside South | Greystar . . . . . . . . . . . . . (760)433-3500 Premier Real Estate Management, Inc. (619)632-6852 Professional Real Estate Management (619)297-7736 Providence Real Estate Management Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)525-8705 R R & V Management . . . . . . . . . . . . . . . . . (619)285-5500 R. A. Snyder Properties, Inc. . . . . . . . . . . (619)297-0274 REC Properties| Peasquitos Point Apts. (858)484-5047 RG Investment Real Estate Services Inc.(858)268-5004 Real Property Management . . . . . . . . . . . (760)434-1791 Rehmann Realty Group . . . . . . . . . . . . . . (619)440-5669 River Oaks |Waterton Residential . . . . . . (760)721-8585 Rohn Properties Management . . . . . . . . (619)990-7433 Rolling Hills Gardens | Greystar . . . . . . . . (619)482-7583 S SD Rent Pros . . . . . . . . . . . . . . . . . . . . . . . (619)884-0906 San Terra Properties . . . . . . . . . . . . . . . . . (858)832-7800 Sardo Properties . . . . . . . . . . . . . . . . . . . . (619)405-9418 Scott Management Company . . . . . . . . (310)370-2696 ScottWay Capital . . . . . . . . . . . . . . . . . . . . (619)209-3544 Sea West Property Management . . . . . . (760)787-6035 Skyline Management Group, Inc (310)246-4750x818 South Bay Community Services . . . . . . . (619)420-3620 Southwest Equity Partners . . . . . . . . . . . . (760)419-5300 Stafford Property Group . . . . . . . . . . . . . . (619)957-7326 Summit Realty and Management . . . . . . (619)423-3023 Sun An Sea Property Mgmt. . . . . . . . . . . (619)298-4160 SunRidge Properties, Inc. . . . . . . . . . . . . (858)578-3600 Sunrise Management Company AMO (858)751-1768 T Team Bourda Incorporated . . . . . . . . . . . . (619)851-3784 Thatcher Properties, Inc. . . . . . . . . . . . . . (619)286-4250 The Dylan | Afton Properties . . . . . . . . . . (760)439-2752 The Helm Management . . . . . . . . . . . . . . (619)589-6222 The Legacy Real Estate Company . . . . . (619)980-7467 The Phillips Group- Property Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)407-8729 The Premiere Residential, LLC . . . . . . . . (858)455-7711 The Rey Apartments | Berkshire Communities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (408)614-5587 Torrey Pines Property Management . . . . (858)454-4200 Trilar Management Group . . . . . . . . . . . . (760)929-4940 U UDR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . (720)283-6120 Urban Coast Properties, Inc. . . . . . . . . . . (619)797-6733 V Valentina by Alta . . . . . . . . . . . . . . . . . . . . (619)391-2700 Valor Property Management . . . . . . . . . . (619)771-2600 VandenBerghe Properties . . . . . . . . . . . . (925)819-1009 W Whispering Oaks Apartments | Greystar (760)471-1262 Willin Properties . . . . . . . . . . . . . . . . . . . . . (619)298-0500 Winn Residential . . . . . . . . . . . . . . . . . . . . (559)435-3434 Z Zimmerman Property Management . . . . (619)546-5361

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

59

forward-thinking. Now, Gen Z is not as concerned with recreation or downtime at the office, rather a financial investment in their future. However, stock options and a standard 401(k) won’t cut it when they are actually searching for “student loan assistance, tuition reimbursement, and maternity and paternity benefits.”

This generation values a work-life balance and is highly optimistic for the future, so these types of benefits will not only attract but also encourage them to stay and take advantage of these opportunities.

Gen Z job seekers cite a com commitment to diversity a important factor in decidin whether or not to accept an Here it is very important fo company to talk the talk an the walk. Diversity and inc cannot just be a phrase in y company’s mission stateme a committee that meets on quarter. This dedication ne to be seen in initiatives like asking one’s pronoun prefe adequate accommodations those who are differently-a policies to ensure fair and e pay, etc.

They Want to See Diversity and Inclusion This highly educated, highly Since 1956 diverse generation is craving 3 or more units to an LLC, Corp, or Partnership – 5 or more units to individuals and other entities. a passion and Loans subject to borrower and property qualifications. Brokered originations are not eligible.

Otherdedication to restrictions may apply. All rates, fees, terms and programs are subject to change without notice and except as required by law. ©2022 Provident Bank. NMLS #449980. All rightsdiversity reserved. Member FDIC.inclusion from their REV0122 | 855-217-3541 employers. As a result, “86% of

They Want an Offer, and Want it NOW Standard HR procedures m it difficult to establish a hir committee and follow the c protocol when extending a Gen Z wants no part of that

Low cost financing for Multi-Family1 Apartment properties.

Refinance today, beat inflation and higher rates tomorrow!

JERRY FURLONG

NMLS #1951320 Vice President, Commercial Loan Officer (949) 940-5950 | JFurlong@myprovident.com

HOMEGROWN & LOCAL 1

er. Las working

Own Appreciated Investment Real Estate?

Market Values at ALL TIME HIGH

o be corridor ula. area hers of the oor

Selling Appreciated Investment Properties?

Big Taxes on Profits!

Consider 1031 Exchange Options Case Study

lifedeck

financialadvisors

Online Webinars Saturdays@10am and on-demand See www.RentalOwnerWorkshop.com Aubrey Morrow CERTIFIED FINANCIAL PLANNER™ Practitioner

rs. The nancial was not

Financial Designs, Ltd. 5075 Shoreham Place, Suite 200 San Diego, CA 92122 Phone (858) 597-1980 | Fax (858) 546-1106 www.MoneyTalkRadio.com

Tune in Saturdays 8am AM 600 KOGO

Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory Services offered through Concorde Asset Management, LLC (CAM), an SEC Registered Investment Advisor. Financial Designs is independent of CIS & CAM. This is for informational purposes only, does not constitute as investment advice, and is not legal or tax advice. There are material risks associated with investing in real estate securities including illiquidity, general market conditions, interest rate risks, financing risks, potential adverse tax consequences, general economic risks, development risks, and potential loss of the entire investment principal.

60

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Preferred Partner of

24 | Southern California Rental Housing Association Rental Advisor April 2022

april2022.indd 24

1031 EXCHANGE SERVICES, & TRUST SERVICES Blueprint Equity . . . . . . . . . . . . . . . . . . . . . (310)383-6597 ADVERTISING & MARKETING Rent Dynamics . . . . . . . . . . . . . . . . . . . . . (435)669-4628 Zumper . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)264-6429 Financial Designs, Ltd. . . . . . . . . . . . . . . . (858)597-1980 Innovative Building Materials . . . . . . . . . . (813)997-3152 Apartments.com . . . . . . . . . . . . . . . . . . . . .888.658.7368 APARTMENT BROKERAGE/SALES Doug Taber CCIM - Rental Housing Broker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)483-1031 APPLIANCE PARTS & REPAIR Appliance Parts Company . . . . . . . . . . . . (480)755-5540 APPLIANCE SALES R & B Wholesale Distributors, Inc. . . . . . (909)230-5400 ASPHALT & ASPHALT MAINTENANCE AMS Paving, Inc. . . . . . . . . . . . . . . . . . . . . (858)880-6133 ATTORNEYS-AT-LAW Buchalter, A Professional Corporation (619)929-5448 Heinz & Feinberg . . . . . . . . . . . . . . . . . . . . (619)238-5454 Kimball, Tirey & St. John LLP . . . . . . . . . (619)234-1690 Todd A. Brisco & Associates, APC . . . . . (714)634-2814 Ted Smith Law . . . . . . . . . . . . . . . . . . . . . . (619)610-9332 BACKFLOW TESTING Pacific Backflow Company, Inc. . . . . . . . (760)639-4000 San Diego Backflow Testing, Inc. . . . . . . (619)916-8054 BANKS / FINANCIAL SERVICES; / ENDERS Chase Commercial Term Lending . . . . . (619)464-1597 BATHROOM REFINISHING Pacific Bathtub Refinishers Inc. . . . . . . . . (619)772-2535 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Citiwide Restoration . . . . . . . . . . . . . . . . . (858)231-2801 BATHROOM REMODELING & REFINISHING American Bathtub Refinishers . . . . . . . . . (619)265-8126 BROKERAGE Doug Taber CCIM - Rental Housing Broker . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)483-1031 CABINET AND COUNTERTOPS Designer Quartz . . . . . . . . . . . . . . . . . . . . . (702)325-1580 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Dixieline . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)358-8188 CABLE TELEVISION Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 CARPET CLEANING Cleanology Housekeeping Personnel Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)281-2532

CARPET SALES & FLOORING America’s Finest Carpet Company . . . . . 800.888.1568 J & C Carpet Company . . . . . . . . . . . . . . .619.498.1424 Sid’s Carpet Barn, Inc. . . . . . . . . . . . . . . . . 619.477.7000 KJ Carpet Wholesale . . . . . . . . . . . . . . . . (909)455-0180 CLEANING & JANITORIAL SERVICES Cleanology Housekeeping Personnel Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)281-2532 DAPA Janitorial Services Inc. “Customized Cleaning Soultions” . . . . . . . . . . . . . . . . . . . . . . . . . . (619)221-9292 Pacific Coast Cleaning, Inc. . . . . . . . . . . . 858.565.1603 Professional Maintenance Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)549-1821 Sea Crest Services, Inc. . . . . . . . . . . . . . . (877)536-2777 SD Construction Cleaning & Janitorial LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)534-1189 COIN-OPERATED LAUNDRY EQUIPMENT All Valley Washer Service . . . . . . . . . . . . . 800.247.1100 WASH Multifamily Laundry Systems (800)421-6897 Washtek, Inc. . . . . . . . . . . . . . . . . . . . . . . . 760.735.2495 COLLECTIONS / EVICTIONS Kimball, Tirey & St. John LLP . . . . . . . . (6190234-1690 CONSTRUCTION & REMODELING Dexcore Restoration . . . . . . . . . . . . . . . . . (619)993-3417 TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Matrix Construction Services . . . . . . . . . (951)493-0100 Fast Affordable Restorations . . . . . . . . . . 858.449.7294 McMillin Contracting Services . . . . . . . . . 619.401.7000 Larry O’Dell Construction . . . . . . . . . . . . . 619.501.5252 Workright Property Services Inc . . . . . . . . (858)751-6312 General Coatings Corporation . . . . . . . . (858)587-1277 Southern Cross Property Consultants (858)945-2629 Parra Building Consultants, Inc. . . . . . . . . (619)540-2000 COURTESY PATROL Signal 88 Security of San Diego . . . . . . . (619)363-7233 City Wide Protection Services, Inc . . . . . (619)929-2628 DECK COATING Life Deck Coating Installations . . . . . . . . (619)262-8600 General Coatings Corporation . . . . . . . . (858)587-1277 DRAWERS & DRAWER PULLS TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 EDUCATION Grace Hill, Inc. . . . . . . . . . . . . . . . . . . . . . . (404)895-9570 ELECTRICAL CONTRACTORS Kennedy Electric . . . . . . . . . . . . . . . . . . . . 619.582.6568 EMERGENCY SERVICE FLOOD/ FIRE CommercialRestoration Company . . . . . (858)922-3218 J & M Keystone Restoration & Emergency Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)466-9876 BELFOR Property Restoration . . . . . . . . (858)847-9886 ATI Restoration, LLC . . . . . . . . . . . . . . . . . (619)318-2807 EMPLOYMENT AGENCY The Liberty Group . . . . . . . . . . . . . . . . . . . (951)744-0057 The Phoenix Staffing Company . . . . . . . . 855.222.4136 ENERGY EFFICIENCY CONSULTING ICF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (503)816-6002 ENVIRONMENTAL: ASBESTOS/ LEAD/ MOLD Alliance Environmental Group, Inc. . . . . . (626)633-3500 Superior Abatement Services, Inc. . . . . . (619)458-1763

EXTERMINATORS & PEST CONTROL Lloyd Pest Control . . . . . . . . . . . . . . . . . . . (619)668-1958 FINANCIAL SERVICES MyPoint Credit Union . . . . . . . . . . . . . . . . (858)268-7203 FIRE EQUIPMENT SALES & SERVICE Symons Fire Protection . . . . . . . . . . . . . . (619)588-6364 Bay Alarm Company . . . . . . . . . . . . . . . . (858)205-7223 A-Tech Systems . . . . . . . . . . . . . . . . . . . . (909)444-9695 Standard Electronics . . . . . . . . . . . . . . . . . (619)596-9950 CVA Security . . . . . . . . . . . . . . . . . . . . . . . . (619)726-8200 Time and Alarm Systems . . . . . . . . . . . . . (858)245-1188 FITNESS EQUIPMENT & SALES Advanced Exercise . . . . . . . . . . . . . . . . . . (303)996-0048 Opti-Fit . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)822-7370 FLOOR COVERINGS TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 Redi Carpet Sales of California , LLC (858)576-8400 Star Flooring & Remodeling . . . . . . . . . . . (619)282-4000 FURNITURE RENTALS Cort Furniture Rental . . . . . . . . . . . . . . . . . (858)549-0800 GENERAL CONTRACTORS BluSky Restoration Contractors, LLC (858)336-9695 Camp Construction Services . . . . . . . . . (713)413-2267 FSI Construction . . . . . . . . . . . . . . . . . . . . (713)690-5330 M. C. Contracting Service . . . . . . . . . . . . (619)282-3083 HEATING & AIR CONDITIONING Sam’s Heating and Air Conditioning, Inc. 619.697.9824 INSURANCE Farmers Insurance McWhirter Agency (619)463-7320 Snapp & Associates Insurance Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)254-9478 LeaseLock . . . . . . . . . . . . . . . . . . . . . . . . . (310)906-2910 State Farm Insurance Kathy Jurgensen (951)225-4940 INTERIOR FINISHES TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 INTERNET ADVERTISING SERVICE Apartments.com . . . . . . . . . . . . . . . . . . . . .888.658.7368 RAPIDSOFT SOLUTIONS . . . . . . . . . . . . (619)752-4929 Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 Dish Fiber . . . . . . . . . . . . . . . . . . . . . . . . . . (951)201-3544 Quantum Fiber . . . . . . . . . . . . . . . . . . . . . . 360.931.9864 LANDSCAPE MAINTENANCE & SERVICE MSE Landscape Professionals, Inc. . . . . (442)257-4229 New Way Landscape and Tree Service (858)505-8300 Pacific Green Landscape, Inc. . . . . . . . . (619)390-9962 LEAK DETECTION;SEWER & DRAIN LINE VIDEO Cable, Pipe & Leak Detection, Inc. . . . . . 619.873.1530 LENDERS Luther Burbank Savings . . . . . . . . . . . . . . (858)436-1819 LIGHTING TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 MAINTENANCE & REPAIR PCC Trip Hazard Removal . . . . . . . . . . . . 760.658.6116 A & PM, Inc. . . . . . . . . . . . . . . . . . . . . . . . . (858)722-5953 Pacific InterWest Building Consultants (925)939-5500 MAINTENANCE SUPPLY HD Supply . . . . . . . . . . . . . . . . . . . . . . . . . (858)226-9671 MARKET RESEARCH ALN Apartment Data . . . . . . . . . . . .(800)643-6416x218

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

61

MARKETING & ADVERTISING RentPath . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)220-8521 SOCi, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . (858)225-4110 PAINT MANUFACTURERS & SUPPLIES Behr Paint . . . . . . . . . . . . . . . . . . . . . . . . . . (619)772-2170 Dunn-Edwards Corporation . . . . . . . . . . (619)884-3866 PAINTING General Coatings Corporation . . . . . . . . (858)587-1277 Pro-Tech Painting Company . . . . . . . . . . 858.527.0200 PARKING MANAGEMENT SOFTWARE Reliant Parking Solutions . . . . . . . . . . . . . (888)977-6848 PAVING MAINTENANCE Eagle Paving . . . . . . . . . . . . . . . . . . . . . . . . (858)486-6400 AMS Paving, Inc. . . . . . . . . . . . . . . . . . . . . (858)880-6133 PEST CONTROL Kilter Termite and Pest Control . . . . . . . . (714)348-0488 ATCO Pest Control . . . . . . . . . . . . . . . . . . (760)418-4573 PROPERTY MANAGEMENT Wakeland Housing & Development . . . . (619)326-6213 Rowland Realty . . . . . . . . . . . . . . . . . . . . . (619)223-1621 PROPERTY MANAGEMENT PERSONNEL BG Multifamily . . . . . . . . . . . . . . . . . . . . . . (619)785-3164 Link Staffing Services . . . . . . . . . . . . . . . . (858)874-3334 InterSolutions . . . . . . . . . . . . . . . . . . . . . . . (858)381-4378 PROPERTY MANAGEMENT SOFTWARE Domuso . . . . . . . . . . . . . . . . . . . . . . . . . . . . (469)286-9619 SafeRent Solutions . . . . . . . . . . . . . . . . . . (419)367-7615 AppFolio . . . . . . . . . . . . . . . . . . . . . . . . . . . (805)308-6274 Yardi Systems . . . . . . . . . . . . . . . . . . . . . . (805)699-2040 HappyCo . . . . . . . . . . . . . . . . . . . . . . . . . . (510)239-1868

RATIO UTILITY BILLING SYSTEMS & SUBMETERING / BILLING SERVICES & WATER CONSERVATION Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (877)789-6027 REAL ESTATE ACI Apartments Office . . . . . . . . . . . . . . . . (619)725-3624 Voit Real Estate Services . . . . . . . . . . . . . (858)458-3337 Lee & Associates Commercial RE . . . . . (760)929-7846 RENOVATIONS & REMODELING TASORO . . . . . . . . . . . . . . . . . . . . . . . . . . . (330)429-1389 REPUTATION MANAGEMENT SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 RESIDENT RETENTION SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 ShipIT dba ShipMagic . . . . . . . . . . . . . . . . (209)576-5013 RESIDENT SURVEYS SatisFacts Research . . . . . . . . . . . . . . . . . (866)655-1490 ROOFING AMS Construction . . . . . . . . . . . . . . . . . . . (949)388-0289 Commercial & Industrial Roofing . . . . . . (619)465-3737 DILS Roofing & Exteriors . . . . . . . . . . . . . (760)727-6000 Sully-Jones Roofing . . . . . . . . . . . . . . . . . (800)611-3110 A-1 All American Roofing Company . . . . (858)539-9113 Guardian Roofs . . . . . . . . . . . . . . . . . . . . . (714)633-3619 SECURITY GUARD PATROL Security First . . . . . . . . . . . . . . . . . . . . . . . . (619)243-3992 Securitas Mobile Guarding . . . . . . . . . . . . (619)214-4919 SECURITY SERVICES California Safety Agency . . . . . . . . . . . . . .866.996.6990 JDS Security . . . . . . . . . . . . . . . . . . . . . . . . (619)781-8694 Bald Eagle Security Services, Inc. . . . . . (619)230-0022 Stealth Monitoring . . . . . . . . . . . . . . . . . . . (214)341-0123 Signal 88 Security of Oceanside - Escondido . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (877)779-7980

SEISMIC RETROFIT Optimum Seismic . . . . . . . . . . . . . . . . . . . (818)625-2908 SMART TECHNOLOGY ADT Smart Communities . . . . . . . . . . . . . (562)712-7504 Company Ivy Energy . . . . . . . . . . . . . . . . (858)682-3489 Hotwire Communications . . . . . . . . . . . . (954)809-9577 SUBMETERING / BILLING SERVICES Conservice Utility Billing & Mgmt . . . . . . (602)481-7440 TELEPHONE SERVICES Cox . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (949)563-8176 TENANT SCREENING KCB Screening LLC . . . . . . . . . . . . . . . . . (714)384-7047 TOWING SERVICES Western Towing . . . . . . . . . . . . . . . . . . . . . (619)997-0904 TRAUMA SCENE CLEAN UP BIO-ONE of Poway . . . . . . . . . . . . . . . . . . (858)261-4527 TREE SERVICES Four Seasons Tree Care . . . . . . . . . . . . . . (760)705-7751 WASTE MANAGEMENT WasteXperts, Inc . . . . . . . . . . . . . . . . . . . . 858.677.0881 WATER DAMAGE RESTORATION Generation Contracting & Emergency Services, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (858)679-9928 WATER DAMAGE RESTORATION Restoration Management Company . . . . (858)935-1170 SERVPRO of Sorrento Valley . . . . . . . . . . (575)420-3885 Hometown Restoration . . . . . . . . . . . . . . (858)663-8330 WATERPROOFING General Coatings Corporation . . . . . . . . (858)587-1277 WINDOWS Milgard Manufacturing - Temecula . . . . . (951)334-1584 Newman Windows and Doors . . . . . . . . (760)438-8080

SECURE RENTAL FORMS

BlueInk This gives you access to SCRHA forms in a digital format with electronic signature capabilities.

CIC information about your applicant, while keeping you compliant with all legal requirements.

socalrha.org 62

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

© Sunan Panyo | Dreamstime.com

Worried about signing rental documents when you can't meet in person? SCRHA has several ways to electronically share and sign our forms.

applyconnect

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

63

April 2022 socalrha.org | 25

1031 EXCHANGES

Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49

1031 Capital Solutions . . . . . . . . . . . . . . . . . . . . . . . . 34

COUNTERTOPS

Kay Properties & Investments . . . . . . . . . . . . . . . . . . 44

CREDIT CHECKS

AIR-CONDITIONING

ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63

AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

DECKING & STAIRS / MAGNESITE / WATERPROOFING

Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67

Life Deck. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 50 APARTMENT ASSOCIATIONS Southern California Rental Housing Association . . . 4 APPLIANCE SALES AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 ASPHALT MGB Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 BACKGROUND SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 BATHROOM REMODELING / REGLAZING American Bathtub Refinishers . . . . . . . . . . . . . . . . . . 17 CABINETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 COIN-OP LAUNDRY SALES Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 WASH Laundry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 COLLECTIONS Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11 COMMERCIAL LENDING

Luther Burbank Savings . . . . . . . . . . . . . . . . . 20 Provident Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60

EARTHQUAKE RETROFITTING & ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 ELECTRICAL SERVICES Kennedy Electric. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 ENERGY SAVING / REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 FINANCIAL / ESTATE PLANNING Financial Designs, Ltd. . . . . . . . . . . . . . . . . . . . . . . . . 60 Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 HEATING Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 50 INSURANCE Newfront Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . .66 INTERNET SERVICE PROVIDER Lumen Quantum Fiber . . . . . . . . . . . . . . . . . . . . . . . .23 KITCHEN REMODELING AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 LEAK DETECTION Cable, Pipe & Leak Detection, Inc . . . . . . . . . . . . . . 12

LEGAL & EVICTION SERVICES Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11 PEST / TERMITE CONTROL XTermite . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 PROPERTY MANAGEMENT Griswold Real Estate Management . . . . . . . . . . . . . 43 LRS Property Management . . . . . . . . . . . . . . . . . . . .52 PROPERTY MANAGEMENT SOFTWARE YardiBreeze . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 RATIO UTILITY BILLING Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 RENT COLLECTION / PAYMENT PROCESSING PayRent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44 SEISMIC RETROFIT / SOFT STORY ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 TOWING / PARKING CONTROL / SIGNAGE Western Towing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 TENANT SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 TOILETS/SINKS/FAUCETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 UTILITIES REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 WATER HEATERS/BOILERS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 WINDOWS & DOORS SIVAN Windows & Doors . . . . . . . . . . . . . . . . . . . . . . 65

Apartment Management Magazine cannot guarantee or be responsible for the products or services offered by advertisers in this publication - AMM 7-1

64

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

ER !

M E M ER SUIS H

YOUR TRUSTED SOURCE FOR

REPLACEMENT WINDOWS & DOORS

EXTERIOR & PATIO DOORS • FRENCH SLIDING DOORS INSTALLATION RETRO-FIT WINDOWS FIBERGLASS, VINYL, CUSTOM WINDOWS AND MORE.

NEW! TRINSIC™ SERIES | V300 ALL BLACK VINYL!

Purchase direct from wholesaler.

No pushy sales people.

We help you choose the perfect window or door plan to fit your needs.

$

BEST GUARANTEE

PRICE

SPECIAL

99

per month*

WHOLE HOUSE

6 WINDOWS + 1 PATIO DOOR

*Any finance terms advertised are estimates only with an interest rate of 2.99% for 60 months on approved credit through a third-party lender. This offer not valid with any other offer and cannot be combined. Some restrictions may apply on window and door sizes. Discount applied by representative at the time of contract execution.

Expires END-OF-MONTH

VISIT OUR SHOWROOM CALL NOW FOR A FREE ESTIMATE!

888.383.6798 SivanWindowsandDoors.com LIC # 1000582

9596 Chesapeake Drive Suite B. San Diego, CA 92123 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

65

newfrontinsurance

5%

Get Your FREE Quote

To take advantage of these exclusive readership savings, please go to www.ANPSavesU.com or call (855) 830-8954 66

AUGUST 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

FAM OUS FOR VALUE

aztecappliance

Huge Clearance Center Largest Selection in San Diego Famous quality and value since 1974 Professional Delivery, Installation, & Haul Away Property Management & Commercial Accounts Welcome

100’S OF MODELS AND BRANDS TO CHOOSE FROM! CHECK OUT THE OPEN BOXES, DISPLAY M ODELS, AND DISCONTINUED ITEMS FOR FAMOUS SAVI NGS! Famous for Customer Value since 1974!

Trusted for “On Time” service for 37 Years!

Providing the Multi-Unit Housing community with value and service Experienced Associates to assist you with: Brand name products, sales, selection, and service The Right Product, for the Right Application to Rent that empty unit, or complete your home’s remodel!

Most items available for same-day will call, or order by noon-have it delivered the next day!

LAUNDRY ROOM, REFRIGERATORS & FREEZERS, MATTRE SS SETS, COIN-OPERATED WASHERS, DRYERS, DISHWASH ERS, DISPOSERS, TRASH COMPACTORS, RANGES, OVENS, COOKTOPS, VENTILATION, OUTDOOR APPLIA NCES, WATER HEATERS & ACCESSORIES

We Welcome Residential and Commercial Clients. Serving San Diego since 1974!

4070 Kearny Mesa Road, San Diego, CA 92111 Phone: (619) 236-0616 (ask for Joan) E-Mail:Joan@aztecappliance.com Mon.-Fri. 8:30am-5:30pm Sat 10am-4pm Sat. 10am-4pm

APARTMENT MANAGEMENT MAGAZINES

PRESORTED STANDARD U.S. POSTAGE PAID LOS ANGELES, CA PERMIT #1831

Real Estate Investment Opportunity Investment Highlights

9.25% Annualized

✔ 9.25% Annualized Distribution Potential*

Distribution Potential*

✔ Monthly Payments via ACH*

with monthly payments via ACH*

✔ Minimum Investment $50,000 ✔ Projected Hold Period: 4 Years with a limited liquidity feature ✔ Available for IRAs and 401ks

LEARN MORE! coveaptmgtmag.com 1.866.558.4272

✔ Accredited investors only

FOR INVESTORS SEEKING: ✔ MONTHLY INCOME POTENTIAL

✔ ALTERNATIVE TO INCREDIBLY LOW RETURNS AT THE BANK

✔ ALTERNATIVE TO STOCK MARKET VOLATILITY

*The Debentures will bear non-compounded interest at the annual rate of 9.25% per annum (365-day year basis) on the outstanding principal, payable monthly on between the twentieth and twenty fifth day of the following month. An investment in the Debentures will begin accruing interest upon acceptance and closing of the Investor’s Subscription Agreement. There is a risk Investors may not receive distributions, along with a risk of loss of principal invested.

Scan for more info!

This offering is a Regulation D, Rule 506c offering. This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Limited Liability Company owned (LLC) properties, LLC interests, promissory notes, and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and net leased properties, short term leases associated with net leased properties after the primary lease term has decreased, financing risks, potential adverse tax consequences, general economic risks including the effects of pandemics and civil unrest, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, p otential r eturns, potential tax benefits and potential appreciation are not guaranteed. For an investor to qualify for any type of investment, there are both financial requirements and suitability requirements that must match specific objectives, goals and risk tolerances. Securities offered through FNEX Capital, member FINRA, SIPC. Cove Capital Investments, LLC and FNEX Capital are separate entities.