SCRHA Apartment Management Magazine - June Issue

WELCOME SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION MEMBERS! JUNE 2022

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SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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APARTMENTALIZE

JUNE 22-24

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Join us in June at the San Diego Convention Center. We’ll have more opportunities for you and your team to make brilliant connections, get bright ideas and see success in a new light. Plan now to be there!

REGISTRATION IS NOW OPEN! Visit apartmentalize.com for all of the details.

Another Chance TO Focus Forward 2021 Apartmentalize was exactly what we needed to reconnect with the industry, reenergize and find a better way of doing things. If you or your team missed the Chicago event or missed a few education sessions, here’s your chance to catch up and continue learning.

Order NAA’s REWIND program to get access to 80+ PowerPoint-synced audio and video sessions from Apartmentalize.

Learn more at naahq.org/rewind.

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Volume 64 Number 06 June 2022

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

PRESIDENT’S MESSAGE: A TIME FOR CONNECTION.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

By Lucinda Lilley

EXECUTIVE DIRECTOR’S MESSAGE: INVEST IN YOURSELF. . . . . . . . . . . . . . . . . . . . . . . . . . 9

By Alan Pentico, CAE

PRESIDENT: Don Smeallie, Jr. PRODUCTION DIRECTOR: Travis Watson production@aptnewsinc.com CREATIVE DIRECTOR: Sean Buur sean@aptnewsinc.com OFFICE ADMINISTRATOR: Jessica Smith admin@aptnewsinc.com

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

SCRHA’S SPRING 2022 VACANCY & RENTAL RATE SURVEY. . . . . . . . . . . . . . . . . . . . . . . . 15

Are you moving or having trouble receiving WHY REAL ESTATE INCOME FUNDS HAVE DISTINCT BENEFITS FOR INVESTORS. . . . . . 19 your magazines? We want to solve it!

By Steve Haskell Email us: admin@aptnewsinc.com

FEATURED COLUMNS: DEAR MAINTENANCE MEN

DEAR MAINTENANCE MEN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29

By Jerry L’Ecuyer & Frank Alvarez

LANDLORD / TENANT QUESTIONS & ANSWERS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

Dear Maintenance Men By: Jerry L’Ecuyer & Frank Alvarez Pg. 29

By Ted Kimball, Esq.

MARKETING 101: GETTING BACK TO SOME BASICS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37

By Kari Negri

THE 2021 FOLLOW THE MONEY REPORT. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47

By Howard Jarvis Taxpayers Association

The 2021 Follow the Money Report

By: Howard Jarvis Taxpayers Association Pg. 47

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

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

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2022 OFFICERS

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

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

Treasurer Aiesha Blevins, Greystar

EDITORIAL ADVISORY BOARD Norman Cullen, CULTR 1, LP Kathy Belville, Lifetime Member

Legislative Chair Greystar

ASSOCIATION STAFF

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

HONORARY LIFE ADVISOR G. Wesley Harker

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

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

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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

JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

Lucinda Lilley 2022 President Southern California Rental Housing Association

A Time for Connection

J

une is an exciting time to be a Southern California Rental Housing Association member. The Apartmentalize Conference is back in San Diego and will take over the San Diego Convention Center from June 22 – 24! This education conference is a wonderful opportunity to connect and build relationships with the rental housing community at large.

This signature event hosted by the National Apartment Association brings incredible resources together in our backyard. Whether you’re looking to connect with new Suppliers to streamline your operations or build on your understanding of industry best practices, the Apartmentalize Conference has something for everyone.

adapt to the COVID pandemic and are moving into the endemic phase, reactionary and hasty legislation continues to threaten our operations, especially at local and state levels. We will need the support of all housing providers as we tirelessly work towards our mission to create a thriving rental housing community through advocacy, education, and collaboration.

While SCRHA has a new mission and vision, the heart of what we do day in and day out remains the same. We are all dedicated to providing housing for our communities. Whether you have one rental unit that is the bedrock of your retirement plan, or you are a member of an onsite team or oversee a portfolio spanning the region (or the nation), you are a housing provider. You have a place at Southern California Rental Housing Association and play a critical role in providing essential services to our communities.

In addition to a diverse array of classes and speakers, the national conference is a great opportunity to build and strengthen your connections with your industry peers. Over the years, I’ve learned that developing and nurturing these professional networks is key to building a strong industry. These relationships enrich our lives, but they also help us speak in a unified voice as we educate and advocate for the community.

Even if you can’t make it to the Apartmentalize Conference this month, check our calendar for upcoming classes and events near you. Our Education and Events committees stay busy throughout the year to ensure that we provide our members with a full slate of classes that nurture professional development and personal relationships.

Invest in your rental operations and take advantage of the member discount for these valuable classes. Not only will you learn from industry experts, but you’ll also stay abreast of changing legislation, best practices, and new technologies that will help you continue to provide quality housing for your residents.

The relationships we build within the industry will support and sustain us as we continue our advocacy efforts at this critical time. As we all have learned to SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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

SOCALRHA.ORG 48| Southern California Rental Housing Association Rental Advisor April 2022 JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

STRATEGIES Visibility & prominence Collaboration

Alan Pentico, CAE Executive Director Southern California Rental Housing Association

Invest in Yourself

W

hile school may be out for summer for students across Southern California, Southern California Rental Housing Association doesn’t take a break. Our educational seminars fill the calendar with both in-person and online training for independent owners, property management teams, maintenance teams, and industry suppliers.

Education is a bedrock of what we do and provide at the Association. We want to give our members, and all rental housing professionals, access to the latest industry updates and best practices from the experts.

This year, we are excited to be the host association for the National Apartment Association’s Apartmentalize conference. This incredible event features a packed schedule of classes and speakers who will help you grow and succeed in your role as a housing provider.

Even if you can’t make it to Apartmentalize, as a member of SCRHA, you enjoy discounted pricing on our educational seminars and classes, and you have access to the resources provided by the National Apartment Association Educational Institute (NAAEI).

Whether you’re pursuing a professional credential or need continuing education credits, we have the resources to support your career.

Whether you're looking to pivot to a new role or advance in your career, the RPM Career Center hosted

by NAA has an array of resources that will help you accomplish your career goals. In fact, next month we will celebrate the RPM Career Week, so look for tools to help you celebrate your onsite team and take the next step in your career.

RPM Career Week will be next month from July 18 to July 20. This week is a wonderful opportunity to celebrate your onsite team and bring attention to the rewards and benefits of a career in the rental housing industry. Be sure to look for official toolkits with fun ideas for spirit week and social media graphics that make it simple for you to share your participation. By celebrating your team and showcasing your career opportunities, you’ll reach potential new hires who are looking for a new role and career advancement.

As many of you know, the rental housing industry is a tight-knit community that values relationships.

Whether you’re taking classes offered at SCRHA, SCHOLARSHIP PROGRAM continuing your education through NAAEI or attending Support leaders in rental housing Apartmentalize, your industry education is the perfect by contributing to our Rental backdrop for building the relationships that program. will support Housing Scholarship you throughout your career.

Your donation to the Rental

Invest in yourself and get involved with Southern Housing Scholarship is an in the future of our California Rental Housing investment Association. industry.

DONATE AT SOCALRHA.ORG

BROKER PROGRAM Helping a client close on their first rental property?

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

Get them started out right with a gift membership to the Southern California Rental Housing Association.

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

CALL 858.278.8070 or EMAIL MEMBERSHIP@ SOCALRHA.ORG

DONATE AT SOCALRHA.ORG

April 2022 socalrha.org | 55

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG april2022.indd 55

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5/3/2022 12:41:43 PM

© Vadim Startsev | Dreamstime.com

© Adeliepenguin | Dreamstime.com

REGIONAL

© Hhunlimitedmedia - Dreamstime.com

LEGISLATIVEUPDATE

© Sumikophoto | Dreamstime.com

Southern California’s Metropolitan Water District issues water restrictions for several counties, will more counties be included?

L

ast month, the Metropolitan Water District (MWD) of Southern California Board of Directors approved new water use restrictions on Los Angeles, San Bernardino, and Ventura counties beginning June 1.

MWD’s decision comes in response to California’s severe multi-year drought, and the announcement that the regional water agencies will receive significantly less water from the state water project for the coming year. MWD will receive only 5 percent of water delivered it typically receives from the state water project. MWD had asked agencies earlier this year for a voluntary reduction of 20 percent.

MWD represents 26 local water agencies in Los Angeles, Riverside, San Bernardino, San Diego, and Ventura counties including the San Diego County Water Authority, Eastern and Western Water Municipal Districts. Desert Water Agency (DWA), Coachella Valley Water District (CVWD), and Imperial County’s Imperial Irrigation District (IID) are separate from MWD receiving their water independently from the state water project

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

and the Colorado River. DWA, CVWD, and IID have not indicated if they plan to impose similar restrictions on their local districts.

Regional and local water agencies will be required to enforce the new water restrictions. Water agencies will have the option to set their restrictions to overall usage or daily usage limits. Local water districts that fail to reduce the amount of water used could face penalties of $2,000 per acre-foot from the MWD and the state.

Customers in the affected counties will be required to significantly reduce their usage including the requirement they limit their outdoor irrigation to one day a week and leave their lawns yellow or brown.

Some water districts are requiring their customers to reduce their water use by 30-50 percent of their daily use. Water district will receive additional money to promote their water efficiency and conservation programs such as turf replacement and refitting homes and businesses with low flow plumbing fixtures.

So far, MWD’s order does not apply to Riverside and San Diego counties. Riverside and San Diego Please turn to page

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dennisblock

dennisblock

San Diego (38428)

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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April 2022 socalrha.org | 17

Continued from page

10

water agency officials state their water supplies will remain unaffected through 2022 due to their ongoing efforts to improve local water supply. Water agencies will continue to encourage customers to voluntarily conserve more water. The State Water Resources Board will be issuing more orders depending on the status of California’s drought.

SCRHA members can refer to the SCRHA’s ‘Water Conservation Packets’ located on the White Papers webpage to learn more about water saving tips and links to local water agencies. Members should also contact their local water agency for information on water rebate programs and current rules. Members can visit MWD’s bewaterwise.com, or visit San Diego County Water Authority’s https://www.sdcwa. org/do-your-part-to-stay-watersmart/ for additional information.

DESERT HOT SPRINGS ADOPTS PLAN TO ALLOW CARPORTS TO HELP HOUSING COSTS The City of Desert Hot Springs adopted an ordinance giving builders the option to add carports in place of garages. The city believes the plan will help make housing more affordable to residents.

The city council unanimously approved an ordinance on May 3 allowing builders to build two-car carports at sustainable housing projects to reduce housing costs. The ordinance also adds a new “sustainable housing” definition to the city’s municipal code.

Sustainable housing is defined as two or more new single-family residential units constructed out of green building materials. The houses must be built with energy-efficient materials and have water efficient features. The houses must be Leadership in Energy and Environmental Design (LEED) certified and utilize LEED building methods.

However, carports will still be required to meet Desert Hot Springs’ building codes and zoning requirements.

Carports also must be attached to the house and meet architectural requirements. Carports are only allowed in existing and new HOAs; HOAs will be responsible for regulating the carports to ensure they are adhering to HOA guidelines to prevent buildup of clutter.

According to city documents, building a garage could add as much as $20,000 to a new single-family unit. The city council believes allowing the option of carports will decrease the cost of housing and make it more affordable for lower income residents. The City Council will have its second reading of the ordinance on May 17 and if approved will go into effect in 30 days.

No information as to whether the city council will consider new cost saving incentives for multifamily housing. Desert Hot Springs must plan for 3,872 new housing units between 2021-2029 to meet its state housing requirements. The city plans to introduce more policies to incentivize the building of more and less expensive housing for low- to middle-income households.

UPDATE: ENCINITAS TO RECONSIDER RESIDENTIAL PROJECT This is an update to an article published in the May RentalAdvisor concerning a proposed apartment project previously rejected by the Encinitas City Council. The city council’s denial triggered a lawsuit from the builder and an official warning from the State Attorney’s Office. On May 3, it was announced that the Encinitas City Council and the builder reached an agreement stipulating the city council will review the revised plan for the Encinitas Boulevard Apartment project this June.

The seven-acre, 277-unit Encinitas Boulevard Apartment project is sited near the busy intersection of Encinitas Blvd and Rancho Santa Fe Road. However, the Encinitas Planning Commission last November denied the project citing the project is too tall and large for the community where it is to be located.

The Encinitas City Council later voted to uphold the Planning Commission’s decision by denying an appeal filed by the builder.

As a result, the builder filed a lawsuit against Encinitas stating the project was following state housing law. CA Attorney General Rob Bonta also issued a formal letter warning Encinitas that it was violating state housing laws and could face additional legal action from the state by denying the Boulevard project.

The developer stated that it would redesign the project for the council’s consideration. The revised project will be scaled down from 277 to 250 units, but the number of affordable units will increase from 41 to 50.

The Encinitas City Council is scheduled to review the project on June 8.

The Attorney General’s office did not comment on the settlement or whether it would act against Encinitas at the time this article was written.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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SCRHA’s Spring 2022 Vacancy & Rental Rate Survey

S

outhern California Rental Housing Association’s (SCRHA) Spring 2022 Vacancy and Rental Rate Survey recorded a significant increase in average weighted rents accompanied with a dramatic drop in the vacancy rate in the San Diego region. The SCRHA’s Spring 2022 Availability Index Survey (AIS), a separate survey that asks the Association’s 25 largest members with the most rental units to provide data on unit vacancies and notices to vacate, also recorded a significant decline of available rental units.

The City of San Diego and the unincorporated communities in San Diego County saw an overall decline in the vacancy rate dropping from 2.91% in Spring 2021 to 1.25% in Spring 2022. According to survey data, the vacancy rate dropped in all county regions and the City of San Diego dropped to numbers not seen since 2000.

The City of San Diego and East County San Diego saw their vacancy rate decrease to below 1 percent year over year; San Diego City’s decreased from 3.3% in Spring 2021 to 0.92%, and East County’s fell from 2.2% to 0.85%. The regions of North and South County saw their vacancy rate fall from 2.6% to 1.8%, and 2.1% to 1.69% respectively. The SCRHA’s Availability Index Survey of its members with the largest unit totals fell from 5.51% in Spring last year to a new low of 3.29% this Spring.

The survey recorded higher weighted average rents for all unit types in the San Diego region. The overall weighted average rent rose approximately 17% from $1,911 to $2,242 from last Spring to this Spring.

Weighted averages for studio apartments countywide rose from $1,519 to $1,611 year over year. Rents for one, two, and three-bedroom units all increased from $1,810, $2,154, and $2,863 in Spring 2021 to $1,970, $2,432, and $2,826 respectively in Spring 2022.

The City of San Diego’s overall weighted rent averages rose from $2,053 in Spring 2021 to $2,303 this Spring.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Weighted average rents increased from $1,581 to $1,810 for studio units and from $1,598 to $2,031 for one-bedroom units. Rents for two and three-bedroom units increased from $2,154 to $2,479 and $2,863 to $2,981 respectively.

asked to record information about their rental units such as rental rates, the number of bedrooms, squarefootage, age, location of the property, if the property is a condominium, single-family or apartment unit, and if the unit was unoccupied on a specific date.

The latest numbers in the 2022 Spring Survey reveal again that demand remains competitive for available rental units. The data confirms what the industry has been seeing that many households are remaining in their rentals and households looking for rentals will continue to experience heightened competition for those units. The increase in the rental averages and decrease in vacancy rates to historic levels are most likely the result of state and local governments placing additional regulations on rental housing, many of which were designed to keep people in their units during the pandemic.

The data recorded from each Vacancy and Rental Rate Survey is unique and varies. The data from the surveys are dependent on the number of responses and information provided by SCRHA members and non-members. While it may be difficult for housing providers to determine market trends in the San Diego region’s rental housing market, SCRHA surveys remain vital resource providing information on all rental unit types in the region. The SCRHA recommends rental housing professionals review the data of nearby cities and zip codes in the current and past SCRHA and SDCAA surveys and use other rental housing resources to track rental and vacancy rates.

Southern California Rental Housing Association has used its Vacancy and Rental Rate Surveys to track rental and vacancy rate data in the San Diego Region since the 1950s. Surveys were mailed to approximately 6,000 San Diego rental property owners and managers last March. SCRHA received approximately 450 responses representing 14,088 units. Housing provider owners and managers were

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.

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

WHY REAL ESTATE INCOME FUNDS HAVE DISTINCT BENEFITS FOR INVESTORS

T

BY STEVE HASKELL

Vice President Kay Properties and Investments, LLC

he recent fluctuations in the United States stock market have many investors looking for more conservative and less volatile investments. On top of that, traditional investment instruments like stocks and bonds are similarly not looking very attractive because of their lackluster yield performances. Therefore, more and more investors are attracted to Real Estate Income Funds.

While Kay Properties & Investments is best known for its expert-level knowledge of Delaware Statutory

Trust 1031 exchange investment strategies and opportunities, the company also has a great reputation for working with nationally recognized real estate sponsors to source and structure All-Cash/Debt-Free Real Estate Income Funds for accredited investors.

WHAT IS A REAL ESTATE INCOME FUND? In general terms, any “income fund” is simply a pool of capital that has been assembled on behalf of a group of investors. There are literally tens-of-thousands of different types of investment funds, including equity funds, bond funds, money market funds, mutual Please turn to page

21

STEVE HASKELL, VICE PRESIDENT, KAY PROPERTIES AND INVESTMENTS, LLC Steve Haskell is Vice President and DST 1031 specialist at Kay Properties and Investments where he works with 1031 exchange and direct investment clients throughout San Diego County and the rest of the United States. Prior to coming to Kay Properties and Investments, Steve served for seven years as an officer in the United States Air Force in the special operations community where he led small teams as well as a large staff of hundreds of military and civilian personnel. Though Steve has retired from active duty, he still serves in the Air Force Reserves. Steve holds a Master’s Degree from the American Military University and a Bachelors in Accounting from Point Loma Nazarene University where he graduated as International Development Student of The Year for his work providing business education to entrepreneurs in impoverished areas in Mexico, Nicaragua, and San Diego.

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

April 2022 socalrha.org | 47

Continued from page

19

funds, and hedge funds. While direct ownership of real estate has been a popular investment for centuries, recently many investors have also started investing in real estate through participation in a fund.

A Real Estate Income Fund is a specific subset of funds that is focused exclusively on investing in potentially income-generating real estate. Real estate income funds provide another entry point for those looking to invest in large commercial or multifamily real estate portfolios. Real Estate Income Funds are particularly appealing to retail investors who want to own institutional quality real estate that would normally be out of reach for them. A Real Estate Income Fund pools capital from many investors, and then the fund’s sponsor oversees all the fund’s activities, including performing due diligence, underwriting, and property management. Investing in a Real Estate Income Fund is a great way to potentially generate passive income, gain access to institutional level assets, and avoid the responsibilities of direct ownership.

AN EXAMPLE OF A TYPICAL REAL ESTATE INVESTMENT FUND EXCLUSIVELY OFFERED BY KAY PROPERTIES Net Lease Income Fund 18 LLC: Focused on acquiring, owning, and actively managing a portfolio of singletenant, Long-term, NNN lease, income producing tenants operating in the industrial, medical, and retail spaces throughout select United States markets.

This Real Estate Income Fund targets an 8% preferred return* for investors with monthly distributions generated through corporate backed leases. The offering size of this fund is $50,000,000 with a minimum investment of $50,000.

Example properties the funds seeks to acquire include those leased to recessionary-resistant, essential businesses that remained open and paying rent during

the pandemic, such as: Amazon, FedEx, Davita Kidney Care, Frito Lay, Walgreens, UPS, CVS, Coca-Cola, InN-Out Burger, and 7 Eleven. *Preferred return is not guaranteed and is subject to available cash flow. Past performance is not a guarantee of future results. For further information about cash flow distributions from operations and capital events, please refer to the Private Placement Memorandum.

THREE DISTINCT BENEFITS OF INVESTING IN A REAL ESTATE INCOME FUNDS DIVERSIFICATION The ability to diversify in real estate funds has attracted conservative investors that want to avoid the concentration risk that often accompanies purchasing one piece of real estate. Typically, real estate investing requires a large down payment in order to obtain a loan with reasonable terms, tying up a significant portion of investors’ wealth in a single asset. Funds allow an investor to often place a smaller amount of cash into a highly diversified portfolio, therefore mitigating risk through diversification. Not only do funds allow investors to diversify in different pieces of real estate all over the country but investors can also diversify their investment by asset type and tenants. Funds may hold multifamily apartments, net lease commercial assets, medical, industrial, etc. Asset types can have varying market cycles. Diversifying one’s investment across asset types and geography can potentially insulate their investment from market volatility. *Diversification does not guarantee profits or protect against losses.

DEPRECIATION An additional benefit to real estate income funds is the potential for depreciation. Many real estate income funds allow investors to depreciate their basis in

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the fund. The non-cash expense lowers the taxable income incurred from fund’s distributions. This may hold significant benefits for investors in high tax states such as California and New York. Investors should speak to their CPA to determine their own potential tax efficiencies from investing in real estate income funds.

ABLE TO OPTIMIZE BOTH INFLATIONARY AND DEFLATIONARY MARKET CYCLES Finally, the ability for funds to continue to purchase real estate over time allows investors to optimize both inflationary and deflationary market cycles. An inflationary market will theoretically drive up the value of the fund. In a deflationary cycle, the fund may continue acquiring assets, cost dollar averaging as the market retreats. Funds have the flexibility to pick up these assets at a discount. Cap rates often expand in a deflationary market, which will allow investors to potentially realize higher distributions as they wait for the market to turn around.

ADDITIONAL POTENTIAL BENEFITS OF REAL ESTATE INCOME FUNDS ● Passive income and/or distribution potential ● May provide monthly cash flow and/or distributions ● Capital appreciation/equity growth potential

● Tax advantages ● Typically low minimum investment amounts ($25k - $50k) ● Professional asset management ● Elimination headaches

of

day-to-day

management

While it is almost impossible to predict what the economic future will look like, many prudent investors are posturing their portfolios to mitigate risk while optimizing their upside potential no matter which direction the market turns. As more investors learn about the potential benefits of Real Estate Income Funds, their popularity will continue to grow throughout the coming years.

ABOUT KAY PROPERTIES AND WWW.KPI1031.COM Kay Properties is a national Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market. Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over $21 Billion of DST 1031 investments.

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.

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CELEBRATING

Teryl Springstead & Rita Possehl, Co-Trustees Jacqueline Mathews Company Harold J. and Geraldine Gray William Pollock Company Barber G. Lewis Charles & Marilyn McKerlie & Margaret Schock Donald and Sandra Jackel Lamden Property Management, Inc. Allison Logan Company Nancy Parks Robert Keck Company CASAVIDA Phil Salvato, Owner Robert Quade Company Richard Jenkins Company Angela Merrill Company Felton Management Associates David and Patricia Nelson Carla Mercer Company William and Susan Moore Carol T. Crossman Marissa Moncrief Company Lloyd Pest Control Joseph and Mary Berardino, Owner-Managers Sandra Clarkin & Brian Calvano Pruitt Properties Alcasid Kim Conant Company Joe & Irina Siemienowski Jungman Investments McPheeters Trust Spero Tzathas Company Richard E & Diane P Martin DILS Roofing & Exteriors Betty A. Gueldner Triple T, LP Bob Kasak Company Molloy Properties Harvey Investment Properties

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Bill Winans Company L. Clark Ritter Company Brentwood Management Co. Zita Liebermensch Company Alvarado Property Management Brycorp, Inc. Steve Rayner Company Mesa View Apartments | Shaw Development Kristen Webb Company Nobel Prize Properties Ronald Stone and Faith Maybury Benjamin Bustria Company Shawn & Lily Smith, Owners Wade Hansen Company Jeffrey McMillen Company John Meyer and Jeff Lancaster Park Hill Investments Cambridge Management Group, Inc. Karen Blumenshine Company Randon J. & Jane A. Strick S. D. Chula Vista Properties, LLC Roberta G. Eklund Mark & Diane Nesbit Janet R. Hammer Robert Kozel Company Marlene Wimberly Company William D. Holman Woodward Associates Adam S. Leeds Lawrence C. Barry Phillip Morgan Company Thomas Gregg Company Premier Real Estate Management, Inc. SENTRE, Inc Laurie Zimmerman Company Gables Oak Creek Vicrud Peace, LLC Tom Cartier Company

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account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please contact the publications department at publications@socalrha.org account, or were taken under new ownership, the member will not appear here. If you feel that your membership should be in this list and is not, please contact the publications department at publications@socalrha.org contact the publications department at 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.

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DEAR MAINTENANCE MEN: I have installed vinyl floor squares a number of times, but I can’t seem to get it square with the walls. It always looks like the floor is slightly cocked to one side. Do you have a procedure on how to start the first tile straight and end up with a square looking job?

- Noah Dear Noah, Complete all of your floor prep work; be sure the surface is clean, dry and free from dust and debris.

Measure the length and width of the floor; divide each measurement by two and mark the floor at the intersecting lines. Snap a chalk line along the length and width of the floor, using the previous measurements. This will produce a cross dividing the floor into quadrants. Now check your chalk line for squares-ness, using a carpenter’s square at the intersection of the two lines. Next, dry fit your tile in both directions to determine your run. Keep the following in mind: adjust your chalk reference lines to allow for full tiles at high traffic tile termination points such as dining room to kitchen, hallway to

bathroom etc. Ideally, you will want to use no less than one half of a tile at any wall or termination point if possible. Start your first tile at the cross section of the two chalk lines. This will allow you to use two perpendicular straight lines to align your first tile. Follow each chalk line, putting down tile until you have a formed a cross dividing the floor into quadrants. Continue gluing down your tile in each quadrant by going down one axis and across the other.

DEAR MAINTENANCE MEN: I have just finished cleaning the gas stove in my rental unit and now the burner will not light. The pilot light is ok, but the burner will just not light automatically. What did I do wrong?

- Sally Dear Sally: The burner might be too clean!! Start at the pilot flame and follow the pilot tube to the burner. Look at the side of the burner with a bright light where the pilot tube and the burner meet. You should see Please turn to page

31

Frank Alvarez is licensed contractor and the Operations Director and co-owner of Buffalo Maintenance, Inc. He has been involved with apartment maintenance & construction for over 20 years. He is also a lecturer & educational instructor and Co-Chair of the Education Committee of the Apartment Association of Orange County as well as being Chairman of the Product Service Counsel. Frank can be reached at (714) 956-8371 Frankie@ BuffaloMaintenance.com For more info please go to: www.BuffaloMaintenance.com Jerry L’Ecuyer is a licensed contractor & real estate broker. He is currently on the Board of Directors and Past President and past Chairman of the Education Committee of the Apartment Association of Orange County. Jerry has been involved with apartments as a professional since 1988.

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DEAR MAINTENANCE MEN Continued from page

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small inlet holes that lead up the side of the burner.

These holes may be clogged with soap or other debris. Use a toothpick or straight pin to clean out the holes. These tiny holes are used by the pilot flame to climb up the burner assemble and ignite the burner. Inspect the whole burner assemble and poke out each jet if the flame does not go all the way around the burner when ignited.

DEAR MAINTENANCE MEN: I have been shopping to replace an air-conditioning unit from one of my apartment units. The salesmen ask how many “Tons” my old unit was and if I wanted the new one the same size? Well, I’m sure my old A/C unit could not have weighed more than a couple of hundred pounds. I don’t understand, what does the weight of my air conditioning unit have with its cooling capacity. And what does term “Tons” have to do with it?

- Fred Dear Fred, Good Question. The term “Ton” as referred to in the cooling power of an air conditioner or refrigerator is

like many units of measure such as “horsepower” comes from a by gone era. Before the days of modern A/Cs and refrigerators, ice was commonly used for cooling. The term “Ton” came into use when engineers developed standards for measuring mechanical cooling capacity. One method was the cooling capacity of ice as it related to melting. The standard was set equating one “Ton” of cooling to the amount of energy needed to melt one ton of ice over a 24-hour period. One ton of ice equals 2000 pounds. It takes 12000 BTU per hour to melt one ton of ice in a 24-hour period. The same power is needed to freeze one ton of water in a 24-hour period. (BTU stands for British thermal unit, a measurement of heat or energy.) A one-ton air conditioner would equal a 12000 BTU/hr machine.

Generally, one ton of cooling is needed for each 500 square feet of living space.

WE NEED YOUR QUESTIONS!!!

If you would like to see your maintenance question in the “Dear Maintenance Men:” column, please send in your questions to:

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SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

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Questions &Answers Landlord/Tenant

by Ted Kimball, Esq. Kimball, Tirey & St. John LLP

Q

uestion: I rent out a three-bedroom home with a covered patio that I have turned into a fourth bedroom. There are four individual people renting. My question is, can I call it renting rooms or am I renting a house to four different people?

leases have a provision which states that one waiver of strict enforcement of the terms does not constitute a continuous waiver for subsequent breaches. If the agreement contains this clause, the court should rule that the rent is all due on the first of the month.

Q

Q A

A

Q

A

nswer: It is better if you rent the house to all four under one lease with each tenant being “jointly and severally” liable, meaning they are individually responsible for the lease, as well as collectively. Also make sure that the covered patio is a legal unit.

uestion : The previous owner of an apartment building I recently purchased allowed the tenants to pay half a month’s rent on the first and the other half on the fifteenth of the month. The lease, however, says it is all due on the first and I want to enforce the lease. What, if any legal problems do I face? nswer: California judges may find that there has been a modification of the payment terms of the agreement by “mutual consent and execution” of the new payment terms. Many

uestion: One of our tenants is complaining about the carpet and says it is California law that the carpeting must be changed every seven years. Have you heard of any law on this subject? nswer: The tenant may be thinking about the expected useful life of carpets traditionally.

However, California law does not require landlord to replace carpeting, unless the condition of the carpet creates a health hazard or risk of injury. As long as the carpet does not have any holes in it, it should be fine. California law requires a habitable unit not an aesthetically pleasing unit. uestion : When tenants give notice that they will be vacating the residence, is it permissible for me to give them a notice Please turn to page

35

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 32

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Continued from page

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stating that I will be advertising the vacancy and will be showing their apartment?

A Q A Q A

nswer : Unless the tenant agrees to another arrangement, you would be required to give reasonable notice (24 hours) in writing for every entry.

uestion: I have a “Guarantee of Rental Agreement” from the mother of a tenant. The tenant is twelve days late with the rent. Do I have an obligation to notify the mother and give her the chance to pay? What is my recourse against her if she refuses to live up to the guarantee agreement? nswer : Notifying the guarantor may be a requirement depending upon the language of the guarantee agreement.

You may want to advise the guarantor in any event and send her a courtesy copy of the three-day notice before taking action. uestion: Is it necessary that a notice to perform or quit be for three (3) days, or can I choose to give an otherwise good tenant more time to solve the problem?

nswer: You could provide notices of lease violations for certain breaches. For ongoing breaches, write the tenant that you are going to allow them to cure the breach by a certain date and if not cured by then, a three-day notice to perform will be served. You should give the same treatment to all residences for the same type of breach.

SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG

35

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JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

40 | Southern California Rental Housing Association Rental Advisor April 2022

Marketing 101: Getting Back to Some Basics

By Kari Negri, Chief Executive Officer, SKY Property Management

I

Dear Kari, How can I rent my vacant units faster?

- Alyssa C., Sherman Oaks think with all the options out there, it is sometimes easy to forget some very basic things that are vital to renting your vacant units. One of the most important things you can do to rent your vacancies faster is to answer the phone. If you love your building, answering phone calls always comes across positively, and is one of the biggest reasons a person will rent from you – sometimes it’s just about how you handle incoming calls.

Answer the phone in person, be ready to give great reviews of the neighborhood and talk about specific places, know your building and unit amenities and when it will be available to look at. You should also let them potential applicants how long it normally takes to have maintenance addressed at your property as people often move when maintenance

is not addressed. Last and not least, be sure to establish and follow your rental criteria and send to any prospect up-front so that you are not wasting their time or yours. Bottom line: be professional and train anyone showing your apartments to be professional in their communications, actions and appearance.

CURB APPEAL Before we had the luxury of posting everything online, your property had to speak volumes for itself, and that is still true today. How your building looks when a prospective tenant pulls up to it is essential because they can take one look and drive away. It is imperative that it is at a minimum always neat and clean. Make a critical inspection of your property every 3 months and make small upgrades or changes so that your property stays relevant (important to neighborhood appeal) and noticeable. This can sometimes lead to a waiting list for any upcoming rentals.

ABOUT KARI NEGRI -- Name any aspect of the complex world of property management and Kari Negri has been at the forefront, forging new ground, fighting for the rights of property owners and tenants alike, adding value, and making a significant difference.

With a strong background in management, Kari founded SKY Properties, Inc. in 1997 to offer hands-on, boutique-level property management at a competitive price for multitenant property owners. Kari currently serves as a Board Member for the Apartment Association of Greater Los Angeles (AAGLA) as the Co-Chair of State Legislation.

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SIGNAGE Make sure to put “For Rent” signs with bright colors to attract the eye, banners, balloons, flags and open house signs. This is especially important for properties in high traffic / walkable areas. Something special or different like balloons around a sign or even a bush trimmed to look like an animal can make a huge difference and draw attention to your rental sign for very little money.

LANDSCAPING & EXTERIOR Once your sign has grabbed the attention of a potential resident, look at the rest of the exterior of the building. This includes exterior paint, condition of the gates and rails, the landscaping and how well it is maintained, as well as the safety of the structure and all the factors that may affect it. Do not underestimate the importance of the first impression on a potential resident who may be driving by or be in the neighborhood for one reason or another.

Do not respond negatively - that is the worst thing you can do but it is important to always respond.

Remember that you can’t make everyone happy but you can at least take a positive approach that will hopefully get you more good reviews than bad ones.

FACEBOOK Like Yelp!, it is another place where consumers can share their opinion, whether it is correct / fair or not.

More importantly Facebook, along with other social media, gives your brand a chance to display itself through campaigns and to keep your profile up to date. Potential renters aren’t just looking for a home anymore, they are looking for a lifestyle. And let’s not forget about all the online communities you can use to advertise your vacancies such as “LA Housing and Rentals”. After you submit a post, Facebook finds similar pages you can post the same advertisement to or post to the Facebook Marketplace!

NON-PAID PLATFORMS

THE NEW WORD OF MOUTH

CRAIGSLIST

Word of mouth is now often called an online review. Talking about a property doesn’t necessarily mean a resident speaking to a friend anymore - we have the internet to thank for that.

With online platforms, past, present and future residents or applicants can review your services.

Remember that potential renters ALWAYS check reviews.

One of the most favorite and familiar places to shop online, especially for housing. It’s free. It’s simple for the person posting and the person looking. With the filter options you can weed out what you don’t want and quickly find what appears to be the perfect apartment. Remember to refresh your advertisements every 72 hours if your vacancy doesn’t get rented right away and to include lots of good pictures. Dark, unattractive pictures and pictures that show an unfinished unit will hurt your traffic. The pictures also need to be an accurate depiction of what you are offering. It is alright to use a different apartment that has already been completed if you say so and the apartment you are working on will look basically the same. Craigslist allows you to filter ads by whether they contain pictures

YELP! We are all guilty of leaving some good and some bad reviews at our favorite spots. As a property, you must keep an eye out for both. On occasion tenants feel as though their requests aren’t being met in a timely manner and take to Yelp before following up with the management first. Most of these can be fixed by paying attention and immediately reaching out.

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or not and most use this option. these tax Families Fund, forpeople the purpose of spending dollars on rental assistance, homelessness, affordable PAID PLATFORMS housing, and housing counseling services.

ZILLOW, APARTMENTS.COM AND RENTPATH Further, AB 1199 would require a qualified entity, Paid marketing sometimes make aorbig currently defined ascan a limited liability company difference in the amount of time a unit remains limited partnership, owning multifamily or singlevacant - so don’t be shy about reaching out family rental homes, to report specified information for short term advertising for smaller buildings about thelarger property eachnegotiate year to theaSecretary of and for ones longer term if State’s Office. would of have create needed.

SKYThat as aoffice customer all to three wea have searchable database on itsof website. experienced a surplus applicants, especially through programs like lead mail. In contrast to Since the an urgency measure, meaning that paying forbill a is monthly spot, it’s a one-time emailblast to potential residents and it has proven if passed, it would take effect immediately, it will successful with vote. multiple leases.

Allbar, thehowever, platforms require a 2/3rds Usually a high offer different packages for monthly with Democrats enjoying more than a 2/3rdsservices through websites including the majority, itvarious will be difficult to stop.

It is hard to most visited ones such as Apartments.com, Rent.com believe that someone would introduce a bill to tax and Apartment property ownersGuide. for the “privilege” of providing rental housing, especially considering all that has SOFTWARE been piled on property owners over the last few Property places management years. WeManagement would like to software see this bill just go away. and residents on the same platform, providing them Very far away. with accounting tools, maintenance request forms and management can communicate with tenants by

texting from portal!

There’stono need What isor theemailing definition of their insanity according to give your personal contact information out! Many Einstein? “Doing the same thing over and over property management software options also and expecting different results.” Well, here weprovide go marketing tools again. Assembly Member Buffy Wicks has proposed

legislation for the third year-in-a-row would APPFOLIO, YARDI AND MANY that OTHERS force rental housing providers to register their Marketing is a great selling point for software. The properties with the government.

dashboard can highlight upcoming move-ins and move-outs to keep yourcities teamand on the sametopage.

The AB 1188 would require counties create vacancy section allows you to create advertisements and administer a rental registry with an online from the marketing description, to rental terms and portal designed to receive specified information even pictures. Using a professional photographer fromstaging landlords or operate five or more when and thewho unit own will make a huge difference rental dwellings.

The billvacancy. would require landlords posting an upcoming Staging does not to provide a variety of information regarding thelightly always require fully furnishing a unit. You can location rental its ownership, andsuch as stage a of unit withproperty, about $100.00 at stores its occupancy, among other things.tons It also wouldplants, Ross and Marshall’s.

They carry of faux candles, and knickknacks to nicely prohibit atowels, landlordsoaps from issuing various notices to add a “pop color” to your vacant unit kitchens increase theof rent or terminate a tenancy unless theand bathrooms.

With a click on on “Post to the portal. internet” landlord has submitted a form the online your advertisement will be uploaded to several web platforms well asthe your own website.

The SCRHAas opposed prior billsproperty and assisted in It helps cut the middleman out and cut back on some killing them. We will work toward the same result in work. Guest cards created both automatically and 2021 for AB 1188. manually help keep track of the traffic and create a list of potential renters.

16 | Southern California Rental Housing Association Rental Advisor April 2022 CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG SOUTHERN

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employers. As a result, “86% of

Gen Z wants no part of that. They

Housing Discrimination

Gen Z

1997-2012

westerntowing

What housing providers need to know.

CSA San Diego County Written by Monica Lopez

CSA San Diego County receives and investigates hundreds of fair housing complaints annually.

Some of the complaints come as a result of agents or landlords not having up to date training, they lack in-depth knowledge of fair housing laws that prohibit actions, or their rental documents are out of date.

Fair Housing Training

Discriminatory Policies, Practices or Procedures Another issue that can be a challenging source of fair housing complaints are items such as rentals applications, rental agreements and house rules.

These documents should always be reviewed to ensure compliance with fair housing laws.

For example: Having house rules that prohibit a child from being able to go outside their apartment unless accompanied by their parent.

The Fair Housing Act prohibits rules that target any protected groups. Families with children often encounter issues in housing due to overly restricted or targeted rules. Having your rules reviewed prior to posting is always best practice.

Fair housing training is critical and necessary to help avoid complaints.

Housing providers should ensure that they and all of their employees are familiar with their obligations under federal and state fair housing laws, practice these principles and incorporate them into their daily interactions with both applicants and residents.

For example: Amy the apartment manager was trained in fair housing in 2008 when she was first hired. She The solution to housing recently encountered an issue for discrimination starts denying an applicant because their with you. If you or your 24 | Southern California Rental Housing Association Rental Advisor April 2022 community does not accept Section 8 staff are in need of vouchers. Had Amy receive training training, contact CSA. annually, she would have known that applicants that are receiving assistance april2022.indd 24 from programs such as Section 8 are About the Agency now protected under Source of Income.

CSA San Diego County is a 501(c)

Fair Housing Knowledge

(3) non-profit organization whose primary mission is the promotion of social justice and public welfare through programs, services, and advocacy against all forms of discrimination, including advocacy for the eradication of housing discrimination to assure equal housing opportunity for all individuals.

Fair housing training is imperative, but an in-depth knowledge of fair housing laws is also part of this process. Giving an agent a role of renting or leasing should include the proper tools.

Providing a limited fair housing training program is dangerous and could result in costly lawsuits.

For example: Sara the leasing agent was recently hired and was required to watch a 1-hour fair housing training video during orientation. The training covered very basic information on protected groups and prohibited actions, but nothing specific about disability related topics. Six months later, Sara encounters a complaint that resulted because she informed an applicant with a disability that they could 327 Van Houten Ave not rent a unit in their building because their assistance animal was on their El Cajon, CA 92020 breed restricted list. Sara was unaware Website: of reasonable accommodations or the csasandiegocounty process it involves. www.c4sa.org Any opinion, findings, and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of HUD. This material is based on work supported by the Department of Housing and Urban Development (HUD) under FHIP Grant FEOI210047.

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The 2021 Follow the Money Report Billions in California Taxpayer Dollars Needlessly Wasted Documented in Howard Jarvis Taxpayers Foundation Report by the Howard Jarvis Taxpayers Association

T

he consequences of California’s failure to provide meaningful accountability manifest in declines in venture capital investment, tourism, and Congressional representation. Once again, around this year’s “Tax Day” (e.g., the IRS tax filing deadline), the Howard Jarvis Taxpayers Foundation has once again issued its annual edition of the Follow the Money Report detailing examples of government waste, fraud, and abuse in the past year that total in the billions.

The examples in this new report should be grounds for them to ask hard questions to the political class which continues to fail to prevent such abuses from occurring. Among the examples cited in the report are a $1.7 billion contract awarded to a COVID testing lab whose employees had been reported sleeping on the job and billions of new delays and cost overruns in the state’s high speed rail program.

“When California taxpayers must struggle to make ends meet more than ever with inflation and gas prices at record highs, there is truly no excuse for politicians to spend their hard-earned money so recklessly,” said Jon Coupal, Chairman of the Howard Jarvis Taxpayers Foundation. “Taxpayers now need accountability more than ever,” he said.

This last year, the State of California once again ranked the worst in the nation to do business, according to an annual report by “CEO Magazine,” and numerous examples of waste, fraud and abuse totaling billions of taxpayer dollars “down the drain” and were reported by independent investigations. However, none of that is new. For years, Sacramento has tied up small business owners in red tape and wasted the people’s hardearned tax dollars without much in the way of political repercussions.

Perhaps it is exactly this lack of consequence for their mismanagement that has made the political class believe they can continue to abuse the public trust forever without jeopardizing their position of power.

However, this last year brought signs that people may no longer be willing to look the other way just because the weather is pleasant. For the first time ever, Silicon

Valley, long one of California’s biggest economic engines, saw its share of venture capital investment nationally fall below 20%.

Meanwhile, tourism, long a California strength, continued to suffer in 2021 despite a $95 million marketing blitz by the Newsom administration.

California tourism in 2021, while up from 2020, still lagged far below its 2019 performance, with many travelers opting to go instead to Florida, which made major gains. California’s ongoing exodus of jobs and productive citizens also resulted in the state’s firstever loss of a Congressional seat, indicating the state’s political power in Washington may be on the decline if the policies driving this exodus remain unaddressed.

California’s new budget system, a program dubbed “Fi$Cal,” is now years behind schedule and hundreds of millions over budget. This disaster, which some have suggested could have been averted completely by using an off-the-shelf solution, has been discussed in the Follow the Money report before because the delays have turned into an ongoing saga that may even threaten California’s credit rating. The latest target completion date is now the summer of 2022, but this date has been pushed back five times already from its original target of 2016, so whether this time is the true completion date is anybody’s guess.

An investigation by auditors at the nonprofit OpenTheBooks.com found Los Angeles lifeguards can make a virtual fortune. They found in 2019, 82 lifeguards made over $200,000 and seven made over $300,000, including the value of benefits.

IT’S YOUR MONEY, BUT YOU CAN’T SEE THE CHECKBOOK …

Can you imagine if you or I told the IRS we “can’t locate” our records? The Federal government, hundreds of large cities and 49 states are all able to produce a checkbook detailing their spending.

However, in California a watchdog organization has been requesting this information for nearly two years and has yet to receive the records, with State Controller Betty Yee saying she “can’t locate” them. In fact, the organization requesting the records says not a single

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transaction out of $320 billion of spending has been disclosed.

DMV EMPLOYEES ADMITTED TAKING BRIBES FOR LICENSES Five Department of Motor Vehicle (DMV) employees at the agency’s Torrance and Lincoln Park offices admitted taking bribes in exchange for issuing licenses to unqualified drivers. Tens of thousands of dollars were received in connection with the scandal and the employees involved admitted to taking bribes several times a week. The scam was discovered by a DMV investigator who noticed an unusual pattern associated with the fraudulent applications.

CALIFORNIA’S “FIRST PARTNER” JENNIFER SIEBEL NEWSOM RECEIVES CORPORATE DONATIONS An investigation by the Sacramento Bee found Governor Newsom’s wife’s nonprofit, an organization focusing on gender equity in film, has received $800,000 in donations from companies involved in lobbying the state. These companies, which have also donated to the Governor’s political activities, include PG&E, Kaiser Permanente, AT&T, and Comcast. The Governor denies the donations to his wife’s nonprofit have any inappropriate influence on his decisions, stating in response to reporters’ questions, “There’s no correlation, period, full stop. Absolutely none.”

TOP UNION LEADER CHARGED WITH TAX FRAUD, EMBEZZLEMENT, PERJURY AND FAILURE TO PAY TAXES The executive director of the Service Employees International Union (SEIU_, the state’s largest union and an advocate of higher taxes, resigned after being charged with numerous crimes including failure to pay her own taxes. Under this official’s tenure, the union donated more than $6 million to Gavin Newsom’s antiRecall campaign.

STATE EMPLOYMENT CHIEF SAYS SHE DOESN’T KNOW WHY UNEMPLOYMENT IS HIGH California’s unemployment rate soared to historic highs as strict COVID-19 rules combined with the state’s usual high tax and anti-business political stance. However, when Assemblyman Kevin Kiley questioned the Director of the Employment Development Department on why unemployment was so high she was absolutely baffled, and said she would have a “research team” look into it.

REGULAR CALIFORNIANS TOLD TO “STAY HOME SAVE LIVES” WHILE POLITICIANS ENJOY JUNKETS Although many Californians continued to live under strict COVID-19 rules, legislators themselves enjoyed trips to Pebble Beach, Australia, Scotland, Portland 48

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and Maui. Many of these trips were paid for by lobbyists with important business before the Legislature. These all-expenses-paid trips give lobbyists an opportunity to discuss their issues while they wine and dine politicians, giving them an additional level of access not enjoyed by regular constituents.

STATE EMPLOYEES EMBEZZLE $2.7 MILLION INTENDED FOR AIDS PATIENTS State employees conspired to bilk the California Office of AIDS of $2.7 million through a scheme where fake invoices were submitted on behalf of a company that didn’t actually exist. The funds embezzled were used to fund travel, cruises, parties and trips to sporting events. The fraud was first discovered when an official asked for more information on the fake company, but not until millions had already been stolen. Government watchdogs pointed to the situation as an example of why more safeguards are needed to ensure taxpayer funds are spent appropriately.

CONGRESSMAN’S SON ACCEPTED TO STANFORD UNIVERSITY FOLLOWING $50,000 DONATION Democrat Representative, Ted Lieu, donated $50,000 of campaign funds to Stanford University before his son was accepted, Federal Election Commission reports have revealed. The contributions were first exposed by an anonymous Twitter account, which was subsequently banned by the social media giant.

LOS ANGELES CITY COUNCILMEMBER CHARGED WITH FUNNELING LUCRATIVE CONTRACTS TO THE UNIVERSITY OF SOUTHERN CALIFORNIA IN EXCHANGE FOR A PROFESSORSHIP AND SCHOLARSHIP FOR DISGRACED SON A federal grand jury indicted South Los Angeles City Councilmember, Mark Ridley-Thomas, on charges of funneling millions of dollars of contracts to the University of Southern California in exchange for an admission with a full scholarship and a paid professorship for his son. His son, Sebastian Ridley-Thomas, is himself no stranger to scandal. Sebastian Ridley-Thomas was a State Assemblymember embroiled in a “#metoo” scandal before resigning his position with the Assembly to become a professor, despite lacking a graduate degree.

INLAND EMPIRE SUPERINTENDENT EARNS $600,000 PLUS A YEAR Including benefits, the superintendent of Ontario Montclair schools routinely receives over $600,000 a year. His high rate of compensation includes various benefits including an ability to cash out sick time, resulting in a 2019 salary of $561,748, more than Please turn to page

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the President of the United States earns at $400,000 annually.

CALIFORNIA DIVERSITY BUREAUCRAT DOESN’T EVEN LIVE IN CALIFORNIA California’s Superintendent of Equity, a brand-new position paying $180,000 a year, resigned after Politico revealed he didn’t even live in California, but lived in Philadelphia where he ran a business. Further questions were raised about the ethics of how he was hired. The position was not found to have been publicly posted on the state’s website and the official’s resume did not show any experience working with California school districts. Meanwhile, it was revealed he had a decades-long friendship with the State Superintendent of schools.

UNPAID UTILITY BILLS RISE TO $1.25 BILLION A report on COVID-19 by the California Public Utilities Commission revealed the state’s public utilities have unpaid bills totaling $1.25 billion, the costs of which are ultimately shouldered by ratepayers who do pay their bills. Contributing to Californians’ increasing inability to pay their bills may be the state’s “decarbonization” efforts. In fact, in the last seven years, rates charged

by San Diego’s electric company Pacific Gas & Electric (PG&E), and Southern California Edison, increased 48%, 38%, and 6% respectively.

CARBON CREDIT SCHEME HARMING, NOT HELPING, THE ENVIRONMENT, STUDY FINDS California has sold millions of carbon credits, but a new analysis found there are problems with the official forest maps that create opportunities for participants to game the system. The projects then funded may be counter to the plan’s emission reduction goals. The analysis was conducted by CarbonPlan, a nonprofit organization, in association with experts from universities including UC Berkeley and Columbia. Businesses including large oil companies have had to spend billions to purchase these credits and those costs are ultimately shouldered by consumers, especially fuel consumers.

RESIDENTS OF NANCY PELOSI’S DISTRICT TO RECEIVE SUBSIDIES TO BUY ELECTRIC FIREPLACES Residents of Speaker Nancy Pelosi’s district will receive $2.1 million in federal tax dollars in partnership with a $205,000 contribution by the Bay Area Air Quality Management District to replace their wood fireplaces with electric ones. While ostensibly meant to improve air quality, it certainly raises questions about why the funds were directed to this particular area. Furthermore, the allocation duplicates incentives for removing wood burning fireplaces which were somehow included in

the coronavirus relief plan.

AUTHORITIES CHARGE FOUR WITH $20 MILLION THEFT ASSOCIATED WITH NON-EXISTENT SOLAR PROJECT The Los Angeles County district attorney charged four men including a former state senator with stealing $20 million intended for a solar project. One of the individuals is accused of spending over $8 million of these funds on personal items.

CALIFORNIA BANS GAS POWERED LAWN MOWERS AND LEAF BLOWERS, PLEDGES $30 MILLION FOR ELECTRIC EQUIPMENT As part of the California Legislature and the California Air Resources Board’s ongoing drive to save the planet, officials have decided gas powered lawn mowers and leaf blowers will no longer be made available to consumers after 2024. The plan also includes spending $30 million to incentivize the purchase of electric lawn mowers and leaf blowers, which will still be allowed.

FREE MONEY! CITY OF LOS ANGELES CUTS POLICE FUNDING, DIVERTS FUNDS TO FREE MONEY PAYOUTS Los Angeles Mayor Eric Garcetti’s budget included $24 million dedicated to no-strings-attached $1,000-a-month payments to Angelenos. Low-income parents and people suffering from medical conditions are expected to receive priority in the selection process. An additional $6 million diverted from the Los Angeles Police Department is set to provide payments to single parents in Los Angeles City Council District 9, which includes the communities of South Central and downtown. Considering that these payments are paid for by police cutbacks, who are the recipients supposed to call if their check is stolen?

25 LUCKY LGBT SENIORS IN WEST HOLLYWOOD TO GET $1,000 CHECKS 25 LGBT senior citizens will receive unconditional $1,000-a-month payments under a new program in partnership with the University of Pennsylvania and an organization of mayors advocating more such “universal basic income” programs be adopted nationally. While some in the community expressed concerns over why the program leaves out other groups considered marginalized, officials argued they lacked full control of the program due to the partnership. Specifics related to funding the program also remained to be finalized.

SAN FRANCISCO PLANS TO PAY PEOPLE $300 A MONTH TO NOT SHOOT OTHERS Ten individuals in San Francisco deemed to be at risk Please turn to page

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(619) 867-1713

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of being part of a shooting will receive $300 a month to behave better. These payments, which are funded by a nonprofit through a partnership with the city, will be in the form of gift cards, and the payments can be bumped up to $500 if the individuals participating also perform some volunteer work.

HEALTH AND COVID-19: HOW DO ELECTRIC CARS PREVENT CORONAVIRUS? Governor Newsom’s COVID-19 relief budget raised some eyebrows when a closer look at the proposal revealed it included $1.5 billion for electric car infrastructure and incentives. In fact, the amount of money allocated to electric cars was nearly triple the $575 million planned for helping small businesses weather the pandemic.

COUNTIES THAT VOTE FOR THE MAJORITY PARTY GET MORE CORONAVIRUS RELIEF Although rural, more Republican-leaning counties are no less susceptible to the effects of the COVID-19 pandemic, the state auditor found large cities were prioritized for receiving relief. Do you think this was a coincidence or a conscious decision to favor counties that are more supportive of our state’s majority political party?

EDD AND BANK OF AMERICA “NIFTY LITTLE KICKBACK SCHEME” While many Californians struggled to receive unemployment benefits, the Employment Development Department (EDD) and Bank of America were receiving revenue every time debit cards issued by the agency were swiped, according to a CalMatters report.

Although officials said they did not know how much money Bank of America received, and Bank of America itself declined to comment, the EDD reported receiving $5.2 million in September alone in response to a public records request by CalMatters. “This is essentially a nifty little hidden kickback scheme,” said Assemblymember Jim Patterson.

BIG BUSINESSES GIVE BIG TO GOV. NEWSOM AND RECEIVE LUCRATIVE CONTRACTS Governor Newsom raised over $200 million in “behest payments,” mostly for COVID-19 relief programs.

These donations, which were made at the Governor’s request, included payments from healthcare companies that received lucrative state contracts. Is this really appropriate? You be the judge.

WHEN YOU’RE THE GOVERNMENT YOU PAY WHEN YOU WANT …

Have you ever gotten a threatening letter from the government over an unpaid tax bill or fine? They want

to be paid on time and they’re not afraid to threaten drastic consequences if ordinary taxpayers can’t pay up. However, when it comes to them, they don’t hold themselves to the same standard they expect from the rest of us. When Los Angeles experienced a fiscal crisis, the city simply blamed the coronavirus pandemic and told their creditors they would have to wait.

CALIFORNIA SPENDS $50 MILLION ON “GLITCHY” COVID-19 APPOINTMENT WEBSITE Only 27% of Californians who received coronavirus vaccinations used “MyTurn” to schedule their appointments due in part to multiple glitches in the hastily built site. The site failed to list many providers and pharmacies where Californians could be vaccinated and the site also frustrated and confused people by requiring multiple logins. The contract to build the site itself was awarded to Blue Shield of California on a “no bid” basis.

WHO WANTS TO BE A VACCINATED MILLIONAIRE?!

As part of its drive to get Californians vaccinated against COVID-19, the state resorted to lottery-style payouts and prices. Under this plan, 10 Californians received $1.5 million each in prizes, 30 got $50,000 and 2 million were eligible for $50 gift cards.

LABORATORY AWARDED $1.7 BILLION CONTRACT DESPITE REPORTS THEY WERE SLEEPING ON THE JOB Whistleblowers exposed a COVID-19 test facility for serious problems including lab technicians sleeping while processing samples and test swabs found in bathrooms. First, state officials denied the existence of any problem at all. While they later did acknowledge “serious deficiencies” were present, they still renewed a contract worth $1.7 billion with the same lab.

HOUSING: WHEN DOES AN 8-FOOT SHED COST $130,000? WHEN THE GOVERNMENT IS THE ONE IN CHARGE OF BUYING IT! A program to build “tiny home villages” in Los Angeles consisting of 64-square-foot aluminum and composite sheds, paid $130,000 each for the structures, ten times what other cities spent, according to a Los Angeles Times report.

TENTS THAT COST MORE THAN LUXURY APARTMENTS The San Francisco Chronicle reported 260 tents that the City of San Francisco maintains in six “sleeping villages” cost the city $5,000 per tent per month, or $60,000 annually. In addition to tents, the sleeping villages provide access to showers and 3 meals a day, but some have

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raised concerns about the cost. At $5,000 per tent per month, the rent on a luxury apartment would be less, and the rent on an average 1-bedroom apartment in San Francisco would be less than half.

RENT RELIEF MONEY GETS STUCK IN BUREAUCRACY The U.S. Treasury allocated $900 million to provide rent relief for San Francisco residents, but as of mid-July only about 10% of the money had actually reached residents. The program was heralded as an unprecedented collaboration of multiple levels of government but the money, however well intentioned, seems to have gotten stuck in the bureaucracy.

LOS ANGELES AREA NONPROFIT STAFF EMBEZZLED $400,000 IN HOMELESS FUNDS Three nonprofit staff members for a Los Angeles based nonprofit were charged with embezzling $400,000 intended to assist people experiencing homelessness.

The staffmembers enlisted friends and family members to apply for assistance with falsified documents. The fraud occurred in 2017 but since being brought to light the women involved have been charged with 56 felonies including embezzlement and grand theft.

TRAINS: CONTRACTOR CALLS HIGH SPEED RAIL CONSTRUCTION DELAYS “BEYOND COMPREHENSION” A letter from one of the main contractors working on the high-speed rail project expressed dismay over delays related to the state securing right-of-ways, suggesting delays and cost overruns on the project would continue to worsen. The letter, obtained by the Los Angeles Times, stated: “It is beyond comprehension that as of this day, more than two thousand and six hundred calendar days after (official approval to start construction) that the authority has not obtained all of the right of way … ” TRAINS: CENTRAL VALLEY HIGH-SPEED RAIL SEGMENT A YEAR BEHIND AND $1.4 BILLION OVER BUDGET A segment of California’s troubled high-speed rail project under construction in the Central Valley will again have its completion date pushed back. This development is just the latest in a long series of delays and cost overruns related to the high-speed rail project, a scheme which has changed considerably and at least doubled in estimated cost from what was originally approved by voters.

SUBWAYS: HOW DOES A SUBWAY IN NANCY PELOSI’S DISTRICT PREVENT CORONAVIRUS? Many members of Congress expressed dismay when a federal coronavirus relief package included $141 54

JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

million for a South Bay BART project benefiting Speaker Nancy Pelosi’s district. While transit ridership has been declining throughout California long before the pandemic, ridership crashed especially once people began working from home and avoiding crowds, making the allocation especially nonsensical.

TRAINS: HIGH-SPEED RAIL CONTRACTOR FOUR YEARS BEHIND AND OVER BUDGET California’s high-speed rail officials awarded a contract for construction of a Central Valley segment of the route to the lowest bidder, a Spanish company named Dragados. Dragados promised it could deliver $300 million in cost savings with design changes. These design changes were later abandoned and Dragados is now four years behind schedule and has only completed 50% of the work it had planned. The HighSpeed Rail Authority bears a share of the responsibility both for not doing its due diligence on the feasibility of the proposal itself and by failing to deliver 278 of 998 land parcels needed to complete construction.

LIGHT RAIL: 30 NEW LIGHT RAIL TRAINS IN THE BAY AREA San Francisco County Supervisors approved $200 million for 30 new light rail trains and new parking meters. However, given that transit ridership was falling even before the pandemic, whether this is actually a good idea is an appropriate question.

CONCLUDING THOUGHTS It’s always important to note that the waste, fraud, and abuse listed in the “Follow the Money” report is not a full list of government ineptitude and corruption for the year — it’s simply a selection of examples that were publicly exposed by watchdog organizations, media investigations and official inquiries. The fact that the Howard Jarvis Taxpayers Foundation can compile such a report annually, each with new revelations of billions of dollars wasted, illustrates the extent of the problem.

People once flocked to California from around the country and around the world. Today, people are leaving in droves to go to states like Texas and Florida where taxes and lower and state governments are less overbearing. What is the solution? Perhaps the political class will continue to abuse their power with impunity so long as they know there will be no real consequence for their failed leadership. The first step, however, is simply to raise awareness among our friends, neighbors, and communities so that our fellow citizens can at least be informed about the situation at hand. You can help bring about this increased awareness by sharing this report with others.

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April 2022- socalrha.org 27 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION SCHRA.ORG | 55

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# 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 FDC Management, Inc. . . . . . . . . . . . . . . (714)685-7000 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 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 L 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 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 Pacifica SD Management . . . . . . . . . . . . (619)296-9000 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)354-8404 Professional Real Estate Management (619)297-7736 Providence Real Estate Management Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (760)525-8705 Q Quail Ridge Apartments . . . . . . . . . . . . . . (925)819-1009 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 Richman Property Services . . . . . . . . . . . (813)262-0401 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 STYL Residential . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

San Diego Housing Commission . . . . . . (619)578-7531 San Diego Realty Services . . . . . . . . . . . . (619)713-1044 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 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 The Townsend | Dinerstein . . . . . . . . . . . . (858)481-4808 Torrey Pines Property Management . . . . (858)454-4200 Trilar Management Group . . . . . . . . . . . . (760)929-4940 U UDR, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . (720)283-6120 V Valentina by Alta . . . . . . . . . . . . . . . . . . . . (619)391-2700 Valor Property Management . . . . . . . . . . (619)771-2600 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

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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 Heinz & Feinberg . . . . . . . . . . . . . . . . . . . . (619)238-5454 Todd A. Brisco & Associates, APC . . . . . (714)634-2814 Buchalter, A Professional Corporation (619)929-5448 Ted Smith Law . . . . . . . . . . . . . . . . . . . . . . (619)610-9332 COLLECTIONS / EVICTIONS Kimball, Tirey & St. John LLP . . . . . . . . (6190234-1690 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 Sea Crest Services, Inc. . . . . . . . . . . . . . . (877)536-2777 CLEANING & JANITORIAL SERVICES DAPA Janitorial Services Inc. “Customized Cleaning Soultions” . . . . . . . . . . . . . . . . . . . . . . . . . . (619)221-9292 Pacific Coast Cleaning, Inc. . . . . . . . . . . . 858.565.1603 SD Construction Cleaning & Janitorial LLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)534-1189 Professional Maintenance Systems, Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (619)549-1821 COIN-OPERATED LAUNDRY EQUIPMENT All Valley Washer Service . . . . . . . . . . . . . 800.247.1100 WASH Multifamily Laundry Systems (800)421-6897 Washtek, Inc. . . . . . . . . . . . . . . . . . . . . . . . 760.735.2495 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

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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 ENFORCEMENT 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

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socalrha.org 60

JUNE 2022 - APARTMENT MANAGEMENT MAGAZINE AMM7

© Sunan Panyo | Dreamstime.com

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Las

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 commitment to diversi important factor in dec whether or not to accep Here it is very importan company to talk the tal the walk. Diversity and cannot just be a phrase company’s mission stat a committee that meets quarter. This dedication to be seen in initiatives asking one’s pronoun p adequate accommodati those who are different policies to ensure fair a 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 diversity and except as required by law. ©2022 Provident Bank. NMLS #449980. All rights reserved. Member FDIC.inclusion from their REV0122 | 855-217-3541 employers. As a result, “86% of

They Want an Offer, a Want it NOW Standard HR procedure it difficult to establish a committee and follow t protocol when extendin Gen Z wants no part of

Low cost financing for Multi-Family1 Apartment properties.

Refinance today, beat inflation and higher rates tomorrow!

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

HOMEGROWN & LOCAL 1

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

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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.

24 | Southern California Rental Housing Association Rental Advisor April 2022 SOUTHERN CALIFORNIA RENTAL HOUSING ASSOCIATION - SCHRA.ORG 61

Join fellow Rental Property Owners Rental property owners have joined Stewart Tours for a wonderful 14-year tradition – traveling together to amazing locations around the globe. This October we have a wonderful journey starting in the ancient city of Prague. We’ll stay in the very heart of the city and enjoy three nights exploring with memorable Stewart Tours experiences. Discover a city frozen in time, with narrow, cobblestoned streets, beautiful architecture, even a world-famous astronomical clock. After three nights, we’ll go overland a few hours to reach historic Nuremberg, Germany. Made famous for the trials held here after World War II, Nuremberg’s stunning walled old town is worth a visit before we step aboard the riverboat on the Danube/Main Rivers. After visiting Nuremberg, we’ll board the beautiful 5-Star AmaPrima. With only 162 guests, it is one of the finest classes of new riverboats sailing the rivers of Europe with one of the best companies. Enjoy exceptional accommodation in everything from a window stateroom to rooms with stunning double balconies to enjoy some of the loveliest scenery in Europe gliding by.

stewarttours

During the next week, you’ll travel on the Daube, Rhine, Main and Moselle Rivers. From the meandering Main to the UNESCO-designated Upper Middle Rhine Valley with its multitude of castles dotting its shores to the vineyard-clad hills of the Moselle, enjoy Europe at its most picturesque. Let the storybook villages—Bernkastel, Cochem and Wertheim—captivate you; and Rothenberg, located on the Romantic Road enchant you. Marvel at the world’s largest ceiling fresco in the Würzburg Residenz, a UNESCO World Heritage Site; and the beautiful Chagall windows while in Mainz. Savor the many flavors of Germany with a chance to sample the world-famous wines of the Rheingau, the hearty smoked beer of Bamberg and Rüdesheim’s famed coffee. Lots of options to experience included touring from overland journeys to walking tours.

After seven glorious nights on the river, we’ll step ashore to stay in the stunning Grand Dutchy of Luxembourg.

Touring this fairytale city is the icing on the cake of a magical 12 days in the Czech Republic, Germany and Luxembourg.

This October’s tour is September 16-29, 2022 - Visit StewartTours.com for detailed pricing and information, email travel@stewarttours.com or CALL 704.517.5381

“Come See Why Our Travelers Return Year After Year” Mark & Vicki Stewart - founders

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1031 EXCHANGES 1031 Capital Solutions . . . . . . . . . . . . . . . . . . . . . . . . 12 Kay Properties & Investments . . . . . . . . . . . . . . . . . . 44 AIR-CONDITIONING

COUNTERTOPS Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 CREDIT CHECKS ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58

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

DECKING & STAIRS / MAGNESITE / WATERPROOFING

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

Life Deck. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61

Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 18 APARTMENT ASSOCIATIONS Southern California Rental Housing Association . . . 8 APPLIANCE SALES AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 ASPHALT MGB Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 BACKGROUND SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 BATHROOM REMODELING / REGLAZING American Bathtub Refinishers . . . . . . . . . . . . . . . . . . 23 Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 CABINETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 COIN-OP LAUNDRY SALES Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 San Diego Laundry Equipment . . . . . . . . . . . . . . . . .21 WASH Laundry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 COLLECTIONS Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11 COMMERCIAL LENDING

Bank of Hope . . . . . . . . . . . . . . . . . . . . . . . . . . 56 Luther Burbank Savings . . . . . . . . . . . . . . . . . 50 Provident Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49

EARTHQUAKE RETROFITTING & ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 ELECTRICAL SERVICES Kennedy Electric. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 ENERGY SAVING / REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 ENGINEERING ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 FINANCIAL / ESTATE PLANNING Jewish National Fund . . . . . . . . . . . . . . . . . . . . . . . . .50 Financial Designs, Ltd. . . . . . . . . . . . . . . . . . . . . . . . . 61 Red Tower Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 HEATING Aztec Appliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 Genie Air Conditioning . . . . . . . . . . . . . . . . . . . . . . . . 18 INSURANCE Newfront Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . .66 INTERNET SERVICE PROVIDER DISH Fiber . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 KITCHEN REMODELING

PROPERTY MANAGEMENT Griswold Real Estate Management . . . . . . . . . . . . . 43 LRS Property Management . . . . . . . . . . . . . . . . . . . .52 PROPERTY MANAGEMENT SOFTWARE YardiBreeze . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 RATIO UTILITY BILLING Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 RENT COLLECTION / PAYMENT PROCESSING PayRent. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44 SEISMIC RETROFIT / SOFT STORY ADU1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 SUPPORTING HOUSING PROVIDER SERVICES CSA San Diego County. . . . . . . . . . . . . . . . . . . . . . . .42 TOWING / PARKING CONTROL / SIGNAGE Western Towing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 TENANT SCREENING ApplyConnect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 TOILETS/SINKS/FAUCETS AA Feders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 TRAVEL Stewart Tours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62 UTILITIES REBATES Livable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56 WATER HEATERS/BOILERS

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

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

Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28

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

LEAK DETECTION Cable, Pipe & Leak Detection, Inc . . . . . . . . . . . . . . 22 LEGAL & EVICTION SERVICES Dennis P. Block & Associates . . . . . . . . . . . . . . . . . . 11

Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 WINDOWS & DOORS Contractor’s Warehouse . . . . . . . . . . . . . . . . . . . . . . .28 SIVAN Windows & Doors . . . . . . . . . . . . . . . . . . . . . . 65

PEST / TERMITE CONTROL XTermite . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

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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*

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*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.

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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.