Southern California Rental Housing Association Rental Advisor Magazine - May 2024

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2024 EXECUTIVE OFFICERS

President

Aiesha Blevins, Greystar

President-Elect

Buck Buchanan, Buchanan Property Management Corp.

Vice President

Todd Henderson, Independent Owner

Secretary

Matt Ruane, Liberty Military Housing

Treasurer

Abigail Rex, American Assets Trust, Inc.

MAGAZINE STAFF

Publisher Apartment News Publications, Inc.

Design & Layout Travis Watson, Production Director Editorial Review Lindsey Lee, Marketing Manager

ASSOCIATION STAFF

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

Allison P ster, CPM®, ARM®,

Legislative Chair Greystar

Immediate Past President

Lucinda Lilley, CPM®, CAPS®, GRI®,

Bridging In uence

2024 DIRECTORS

Alex Winborn, H.G. Fenton Company

Eric Sutton, Creaser & Warwick, Inc.

Jennifer Ford, Douglas Allred Company

Kayla Roeder, CPM®, ARM®,

Cambridge Management Group, AMO®

Kimmi McBryde, Cushman Wake eld

Lisa Mason, Baldwin & Sons

Lorri Goldmann, Avenue 5 Residential

Mark Feinberg, Heinz & Feinberg

Molly Kirkland, mkirkland@socalrha.org 858.751.2200

Kim Zebroski, kzebroski@socalrha.org 858.751.2220

Lindsey Lee,PCM Digital Marketing, CDMP, Marketing Manager llee@socalrha.org 858.751.2218

Alma Macias, Operational Advisor amacias@socalrha.org 858.278.8070

Braden Haycock, Education Manager bhaycock@socalrha.org 858.751.2219

Evan Prado, Events Coordinator eprado@socalrha.org 858.7521.2214

Scott Ledesma, Generation Contracting & Emergency Services, Inc.

Patrick Kappel, Shannon Kelly, Independent Owner Dandy Lion Real Estate

Wesley Harker

9655 Granite Ridge Drive, Suite 200 San Diego, CA 92123 San Diego O ce: 858.278.8070

ADVERTISE: Contact the team at Apartment News Publications, Inc. at 714-893-3971 or email scrha@aptnewsinc.com for advertising information, including rates, production

SCRHAHousingProvider&Resident RightsandResponsibilities

OURVISION

Reenvisioningquality housingforall

OURMISSION

Tocreateathriving rentalhousing communitythrough advocacy,education, andcollaboration

AsmembersoftheSouthernCaliforniaRentalHousing Association,wearepartnersincreatingathrivingcommunity byprovidingqualityrentalhousingforall.Wevalueour residents,ourfellowmembers,andourcommunityandare workingtosupportahealthyhousingecosystemthrough advocacy,education,andcollaboration.

Ashousingproviders,webelievewehavetheresponsibilityto provideCaliforniarenterswith:

Qualityhousingwithhabitableandhealthylivingconditions. Freedomfromarbitraryeviction,retaliation,or discriminationinlinewithallfederalandstatefairhousing laws.

Fairandequalresidentprotectionsandpoliciesthatbalance theneedsofrenters,housingproviders,andthecommunity. Avoiceinhousingdecisionswithrespectandaccessequal tothatofhousingproviders.

Aninnovativeandcollaborativehousingecosystemwhere government,businesses,housingproviders,andrental advocatesworktogethertosolvetheregion’shousingissues byidentifyingtheunderlyingproblemsandcrafting balancedsolutions.

Adherencetohousingqualityandequitystandardsand regulations.

AllCaliforniarentersalsohavearesponsibilitytotheirhousing providerto:

Reviewandfollowrentalagreementterms,includingtimely rentalpayments.

Maintainacleanandhabitablehome.

Beagoodneighborbyrespectingothers’peaceandquiet. Providetimelyreportingofanyissuesandnecessaryrepairs. Keepopenlinesofcommunicationwiththepropertyowner ormanager.

IAiesha Blevins

2024 President Southern California Rental Housing Association

President’s Message: Building A Stronger Community

’d like to start this month’s message with a note of gratitude for the work of everyone who made the 2024 Rental Housing Conference & EXPO on April 25 such a success. It was so nice to spend a day with my rental housing colleagues learning from the industry experts and connecting with Suppliers who support the industry. While our industry faces many challenges this year, it’s more important than ever that we take the time to build new relationships and strengthen existing friendships within the community.

Thank you to our Events and Education Committees who planned the event. We all enjoyed the hard work and thought you put into the event. I’d also like to share a special round of applause to the speakers, exhibitors, and sponsors who truly made this year’s event another day in paradise.

Additionally, the Mark of Excellence Committee is hard at work planning the 2024 Mark of Excellence Awards Ceremony on November 1 at Sycuan Casino. Nominations will start soon, so be sure to subscribe to SCRHA emails and follow SoCalRHA on social media for updates! This event is one of my favorite events of the year, and I am so excited to learn the innovative ways that our members continue to set the mark of excellence as housing providers.

Taking the time to celebrate our accomplishments and strengthen relationships will be more important than ever as we continue to fight the many challenges facing our industry this legislative season.

While it’s important that we come together for educational classes and networking events, it is our advocacy work that will be critical this year If you haven’t already, I encourage you to follow these important steps to support our advocacy work in this important year.

1. Register to Vote – Register to vote and learn more at registertovote.ca.gov. Even if you’re already registered to vote, check your registration status and make sure that your address is up to date!

2. Subscribe to Action Alerts – Our advocacy work only goes so far, and your elected officials need to hear from you. SCRHA Action Alert emails are an easy way to take action and share your thoughts on pending legislation with your representatives Sign up at https://socalrha.info/action-alerts

3. Subscribe to SCRHA Update – SCRHA keeps you informed on the issues affecting housing providers. Sign up today at socalrha org to receive weekly emails and updates on upcoming classes and events.

4. Follow SoCalRHA on Social Media – Keep up with the latest news and happenings on your favorite social media platform. Be sure to follow @SoCalRHA on Twitter, Facebook, Instagram or LinkedIn.

It will take all of us working together to defend the industry as we continue to provide quality housing for our communities.

AAlan

Pentico, CAE Executive Director

Southern California Rental Housing Association

Executive Director’s Message: Your Membership at Work

s a member-driven organization, Southern California Rental Housing Association is here to serve you . Not only do we provide operational resources and support, we represent your interests at all levels of government Whether it’s a public hearing in National City or Oceanside or advocacy days in Sacramento or Washington, DC, we are there to share your experiences and challenges as a housing provider with elected officials

We all know there is strength in numbers, and your membership shows the community that rental housing providers are essential to creating the communities we call home With 2,500 members throughout San Diego, Imperial, and Southern Riverside Counties, we can make a difference when we all work together.

I know that dues statements and invoices look a little different this year, and that is because this year is different. With SB 267 and SB 567 going into effect and with a new, and draconian, rent control initiative on the ballot in November, our industry remains under attack The threats are coming from all levels of government and require us to take decisive action.

A critical way that SCRHA takes action for you is through our comprehensive advocacy efforts. While we lobby for you on a local level, it is through our affiliation with the California Rental Housing Association (CalRHA) and the National Apartment Association (NAA) that we are able to represent you at the state and federal levels

This year your membership renewal invoice includes mandatory fees and voluntary contributions Your membership base dues, unit dues, and an assessment that supports local advocacy and public relations related to multiple Tenant Protection Ordinances proposed around the county are mandatory and must be paid in full

Here is a breakdown of the voluntary contributions and how the funds are used:

SCRHA PAC – Political Action Committee funds are used to support local and state candidates for office, at all levels of government (City Council, County Board, School Boards and Water Districts) as well as to support or oppose ballot measures such as the Justice for Renters Act – which is being used to create permanent rent control in California. The

contribution is VOLUNTARY because we cannot legally charge you for political action committee fundraising THAT SAID, we strongly urge you to pay it. Here’s why…

California does not currently have statewide rent control We have AB 1482, which caps rent increases at 5% plus CPI, (max 10%) California also has the Costa-Hawkins Rental Housing Act which limits the applicability of local rent control laws

The November ballot initiative titled the Justice for Renters Act would end Costa-Hawkins and pave the way for full rent control which creates local rent boards made up of tenants. These tenant boards determine if you can raise rents and how much you can recoup costs for damages or upgrades to your property, if you can move back into your unit, and more It would also take away your ability to reset rents at vacancy. This would apply regardless of whether the property is a condo, single-family home, or a rental property with hundreds of units. It doesn’t matter if it is owned by you and your spouse or a multinational investment firm. If the rent board does allow rent increases, it’s often below the average inflation rate, ~3%. This is why we are asking you to PLEASE make this contribution— to protect your property rights

SCRHA Industry Defense Fund – The IDF is used to organize campaigns, conduct regulatory research and polling, and hire specialized consultants This gives SCRHA the ability to organize campaigns quickly to protect your investments

SCRHA Legal Fund – Funds are used to file lawsuits against bad legislation and regulations, and work to clarify laws to minimize your risk

NAAPAC – National Apartment Association Political Action Committee is used to support candidates for US Senate and Congressional offices.

NAA Better Government Fund (BGF) – Better Government Funds, similar to the NAAPAC but better suited for corporations, as some may not be able to make political contributions

Check with your attorney

I know that these voluntary contributions may seem overwhelming, but they enable us to respond quickly and effectively to threats against our industry. If you ever have questions about your invoice or what the voluntary contributions are funding, please call us at 858.278.8070. We believe in transparency and will always be happy to help you understand your membership investment

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Mark Marshall Company

Elizabeth Dammassa-Uglik Company

REC Properties| Peasquitos

William

Dennis & Tina Daneri

Mira Bella Apartments | Simpson Property

Lynn

Araz Yacoubian Company

Jim

Sherry Bird Company

Mara

Sciuto Properties

Bob

Tom Brady Company

Salvador Vivero Company

Axiom Real Estate

Casa

Barry Treahy Company

Cal

Dennis and Marian Pierce

Jesus and Yolanda Arroyo

Betty

Carol Prior Company Community

Welcome New Members

PROPERTY MANAGERS

Flats LLC

Hemet Estates | Peak Living

Indio Gardens | Peak Living

Palm Springs Pointe | Peak Living

INDEPENDENT OWNERS

Alta Oceanside

Ascent Phase II | Greystar

CJAG, LLC

David Antczak Company

Dennis & Jeanne Ferlito

Doug Lister Company

Jaroslawa Fiumara Company

Margot Arias

Mohsen Mollazadeh/Hosseini Company

Polly Rogers

RICHARD LEE

Schweitzer Realty & Investments

Sharp Construction

Steven Fisher Company

University of San Diego

West Village Poway SUPPLIERS

Aquinas HVAC

BioAir Mechanical & Plumbing

Brothers in Arms Security

BugMizer Termite and Pest Inc

Gorman Roofing Services

H2O Heating Pros, Inc.

Rancho Coastal Tree

Statewide Reach Codes Program

SCRHA Trivia Madness

Thank you to everyone who came out for the first SCRHA Trivia Madness at Original 40 . Congratulations to the winners, and a huge round of applause for our event sponsors, Dexcore Restoration and Aquinas HVAC.

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FAIR & EASY: DEBUNKING COMMON MYTHS ABOUT RUBS

by the Livable Content Team

In the rental industry, utility billing is full of misconceptions, especially among Residents Master-billed utility costs are often simply divided equally among units, or included with rent, regardless of each Resident’s consumption. But with the emergence of Utility Billing Systems, there is a better option for Property Owners, one that is accurate, transparent and fair. Even so, Ratio Utility Billing (RUBS) at times faces pushback from Residents due to misunderstandings of purpose, calculation complexity and perceived unfairness.

The unwarranted pushback leads to hesitation on the part of Property Owners and Managers to utilize the benefits of Ratio Utility Billing Systems. Clarity and understanding of how Ratio Utility Billing Systems work is essential to eliminate pushback on RUBS and enhance its positive impact on conservation - and Housing Provider revenue.

“RUBS IS JUST TAKING MORE MONEY FROM ME!”

One common misconception among Residents is that RUBS is designed to extract more money from them In reality, the objective of Ratio Utility Billing is to ensure that each Resident pays for what they consume with the added benefit of advancing good conservation efforts. By educating Residents about the rationale behind Ratio Utility Billing and demonstrating its cost-saving benefits through reduced consumption, Property Owners and Managers can alleviate unnecessary pushback Make sure that Residents know that reducing their own consumption can affect what they pay AND is beneficial for the planet!

Additionally, involving Residents in the decisionmaking process and soliciting their feedback can

foster a sense of ownership and cooperation

Offering incentives for conservation, such as rewards for reduced usage or energy-efficient upgrades for their own small appliances, can further incentivize participation and mitigate misconceptions.

“RUBS IS TOO COMPLEX TO UNDERSTAND!”

Another common concern surrounding RUBS is the perceived complexity of calculations . Unlike traditional flat-rate or individual metering methods, Ratio Utility Billing Systems require allocating costs based on a predetermined allocation formula This can lead to confusion among Residents However, advancements in computing and tech have streamlined the calculation process, making it more efficient and accurate than ever.

RUBS software can handle complex calculations effortlessly, taking into account factors such as occupancy rates, square footage and baseline consumption levels . By leveraging these tools, Property Owners and Managers can simplify the billing process and provide transparent breakdowns to Residents, enhancing trust and understanding along with conservation efforts for the environment

A good RUBS billing platform will provide that transparency for everyone on the management team and all Residents.

Investing in staff training and education ensures that property management teams are equipped to handle any questions or concerns related to billing calculations . Clear and accessible documentation outlining the methodology and rationale behind the Ratio Utility Billing Systems can also alleviate confusion and further foster trust among tenants.

“RUBS ISN’T FAIR!”

Another misconception surrounding Ratio Utility Billing Systems is the perception of unfairness . Residents may feel that they are being unfairly penalized for the actions of others or that the allocation formula does not accurately reflect their individual usage patterns.

To address this concern, it’s crucial to ensure that the allocation formula is transparent, equitable and based on objective criteria This may involve engaging with Residents to establish a fair distribution method that considers factors such as household size, occupancy duration and common area usage like watering landscaping, lobby plants and communal pools or hot tubs The right allocation method also includes in-unit amenities like dishwashers or laundry

machines, so Residents in units without those pay less. By involving Residents in the decision-making process, Property Owners and Managers can foster a sense of ownership and accountability, thereby reducing misconceptions of unfair billing.

Additionally, implementing measures to address discrepancies or disputes, such as regular audits and grievance mechanisms, can enhance the credibility and integrity of the Ratio Utility Billing System . Open communication channels that allow Residents to voice their concerns and provide feedback are essential for maintaining trust and addressing any perceived inequities promptly. Livable’s platform, for example, allows Housing Providers to share actual bills with their Residents to maintain transparency and allow Residents to track collective consumption and cost fluctuations or increases in rates by utility providers.

RUBS offers numerous benefits including reducing costs and promoting conservation. When it comes to Livable’s Ratio Utility Billing System, Housing Providers can offer a goodwill deduction for any reason they choose Maybe one unit has a sudden occupancy increase like a friend or family member staying for a few weeks. That unit obviously is going to use more water during that time A Housing Provider can choose to give other Residents a goodwill deduction to offset that shared increase if they choose . A significant water line leak that drives up everyone’s bills might be a reason to offer that deduction The best RUBS platform offers that flexibility whenever and for whatever reason it’s needed.

“Livable’s Utility Billing System allows property owner’s to bill Residents with the assurance of an advanced and highly refined system,” says Dan Sharabi, Livable CEO “We understand that any changes can be confusing and even scary for Residents, so we offer the most transparent billing system possible to make sure they see that they’re being billed fairly, for only their own consumption.”

Addressing misconceptions and concerns surrounding Resident pushback, calculation complexity and perceived unfairness is essential for successful RUBS implementation

By fostering transparency, communication and cooperation among Residents and Property Managers, Ratio Utility Billing Systems can become a viable and sustainable solution for equitable utility billing in multi-tenant properties.

This Probably Never Happened to You, But...

By C. Finley Beven

One of our tenants from unit No. 3 had been in the hospital for several days, suffering from the effects of an on-going illness. Unfortunately, and to our sadness, she did not survive.

Beyond our sadness, there were legal issues to be settled. When she first rented with us more than a decade ago, she was the only tenant. A few years later, still many years ago, she asked us to add her partner to the rental agreement. In a lapse of our better judgment, our office simply made a note of the partner’s name, and thereafter treated them as co-tenants. No new lease was written or signed. The partner was never asked to sign the original lease. As such, it made no difference to us who called for maintenance issues, or which of them paid the rent. Sometimes our original tenant would pay the rent, sometimes her partner would pay. They were fine tenants, always paid their rent, and were good neighbors. We were treating them as co-tenants.

All seemed to be going fine … until our original tenant died. One of the provisions of our lease is that at the termination of a contract, and move-out of all occupants, the proper balance of any security deposit will be sent to all adult tenants named in the lease. You can see the problem this presents. We still have a good, qualified tenant (who did not pay into the original security deposit) occupying the property, and an obligation, sooner-or-later, to send the balance of

that deposit to an appropriate heir of our original tenant whose name is on the lease.

We are about half-way through the appropriate resolution of this. The surviving partner will enter into a new lease, he will accept the property “as is”, and he will pay in the same amount of security deposit that our original tenant paid. We are working with our attorney to determine who is the proper heir to the original security deposit, as it must be sent to someone. We do have a name and contact information for our original tenant’s son, but that is not enough to determine that the son is entitled to the balance of the security deposit.

The lesson of all of this is that if a new adult joins in tenancy, it will save you much time and future aggravation if you bring together all interested parties and enter into a new rental agreement. That is what we have been doing for years now, and it has worked well for us.

Dear Readers: This article is the 247th in a series based on the lessons we have learned the hard way. The contents of these articles are merely opinions of the writer. They are not intended as specific legal advice and should not be relied upon for that purpose. Our practice is in constant refinement as we adjust the way we operate to an ever- changing market. I appreciate your questions, comments, suggestions, and solutions. Contact C. Finley Beven, JD, CPM, CCAM, 99 S. Lake Avenue, Pasadena. (626) 243-4145. Fin.Beven@ BevenandBrock.com. www.BevenandBrock.com

C. Finley Beven has been involved in real estate, property maintenance and property management since 1975. He is a Certified Property Manager (CPM), Institute of real estate Management since 1987. He is also a Certified Community Association Manager (CCAM) and is a member of the California Association of Community Managers. He has a brokers License #00696626 in the State of California. He has a BA, USC; JD, Southwestern University Beven & Brock Property Management Co., Inc.

99 S. Lake Avenue, Pasadena. (626) 243-4145

Fin.Beven@BevenandBrock.com - www.BevenandBrock.com

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

May 1

Supplier Council

2:30P - 3:30P

The Supplier Council Meeting offers you the opportunity to share your experience, knowledge, and best practices with colleagues in the rental housing industry through educational sessions, round-table discussions, and practical advice from individuals working in the rental housing industry

May 13

Certificate for Apartment Maintenance Technician

8:30A - 5:00P

Maintenance technicians are critical for an apartment community’s operations. The CAMT Credential will ensure that you have all the necessary skills & knowledge expected of today’s maintenance technicians Take the next step in your career and earn your CAMT with SCRHA

ICON KEY

May 16

Marketing Your Rental

9:00A - 10:30A

Join Marketing maven, Kitty Callaghan, VP of Marketing at Wasatch for this session about building the best marketing plan for your rentals! Learn from an expert in the field to gain practical and applicable knowledge on marketing skills and tactics

ICON KEY

May 28

Independent Rental Owner Council (IROC) Meeting

The Independent Rental Owner Council (IROC) Meeting offers you the opportunity to share your experience, knowledge, and best practices with colleagues in the rental housing industry through educational sessions, round-table discussions, and operational advice from SoCalRHA’s Operational Advice Counselor

ICON KEY

Is my building ready for the California “Balcony Bill”?

“How does SB 721 or SB 326 impact my building?”

“How do I get my balconies and exterior walkways evaluated?” “What’s the process, timeline, and cost?”

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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.

They Want to See Diversity and Inclusion

This highly educated, highly diverse generation is craving a passion and dedication to diversity and inclusion from their employers. As a result, “86% of

Tackling Onsite Manager Behavior

By Kari Negri, Chief Executive Officer, SKY Property Management

Hi, Kari! I’ve really been enjoying your articles about Karen. I think I have one living in my apartment, but the thing is, she’s the onsite manager. What should I do?

Under California law, if your apartment complex has 16 or more units, it’s a must to have a manager living onsite. Regardless of your unit count, recruiting a top-notch onsite manager is a smart move. It’s a must for you, your property, and your tenants

Why, you ask? Well, a GREAT onsite manager acts as the eyes and ears of your property, ensuring it’s tip-top in maintenance response, repairs, and liability-free They’re your “go-to” contact in emergencies like a stuck driveway gate or a flood. Plus, they can boost profitability by attracting and retaining quality tenants, reducing vacancies and turnover, keeping rent flowing in, and enforcing property rules Not only that, but a GREAT onsite manager also elevates your apartment’s reputation.

Any great onsite manager are all about excellent customer service, communication, and problemsolving skills that keep your tenants as happy as they can be. They foster a sense of community and loyalty among tenants, leading to glowing wordof-mouth and referrals. Training and investing in a GREAT onsite manager are a necessity for success!

A GREAT onsite manager ticks off a few key boxes . They’re upfront and friendly, earning your tenant’s trust by being honest and approachable Being organized and punctual, they’re reliable when tenants need help Professionalism and competence make them a respected representative for the property owner or management company. They are not afraid to lay down the rules, making sure tenants stick to the rules and pay up on time.

Notice how I emphasized the word GREAT? That’s because not all on-site managers are created equal Some might even become a major headache, or worse, a “Karen.” Their behavior could range from exhibiting entitlement and rudeness, such as belittling staff and tenants, to creating a hostile environment on the property Additionally, their close-mindedness might hinder progress and problem-solving, leading to inefficiencies in property management Moreover, their disrespectful communication with management could damage professional relationships and impede effective collaboration, potentially jeopardizing overall property management success

To avoid hiring someone with “Karen” tendencies, ensure your screening process is thorough Review resumes, conduct background checks, and contact references to identify any signs of entitlement or rudeness. During interviews, focus on candidates’

conflict resolution skills and emotional intelligence, prioritizing those who demonstrate empathy and professionalism Additionally, assess their alignment with company values such as respect, teamwork, and professionalism Prioritizing these steps in the hiring process minimizes the risk of selecting candidates with traits resembling a “Karen” and instead hiring your rockstar GREAT on-site manager

If you’ve hired a “Karen” type onsite manager as your employee, remember that California is an “at-will” state, but that said, always consult with an attorney (Editor’s Note: In California, the relationship of employer and employee is generally “at will ” This means that, without an employment contract, the employer or the employee can terminate the employment relationship at any time, with or without cause . ) After that, I recommend following due process and promptly finding a more suitable replacement However, if circumstances prevent immediate termination and you’re stuck with this employee, there are strategies to effectively cope and communicate with them:

• Keep Your Cool and Stay Professional Don’t let their antics get under your skin and try not to take it personally Even if you’re seeing red, try to see things from their perspective and show some empathy – it might help ease tensions.

• Assert Authority Firmly When they’re trying to push you around or act like they’re

in charge, stand your ground. Remind them of what they’re supposed to be doing and make sure they know you’re not messing around when it comes to enforcing the rules.

• Hear Them Out. Even if you think they’re way off base, give them a chance to have their say. They might surprise you with a nugget of wisdom or a decent idea. Showing you’re willing to listen can go a long way in smoothing things over.

• Offer a Helping Hand. If they’re struggling or seem lost, don’t leave them hanging. Give them some guidance, offer up resources, and ensure they receive lots and lots of training It’ll help them step up their game and hopefully keep the peace around the office

It’s important to remember that whether your onsite manager exhibits “Karen” like behavior or not, they are still employees and must be treated accordingly under employment laws This means they are entitled to fair treatment and protection. This includes ensuring they undergo proper onboarding, receive equitable pay, have appropriate vacation, leave entitlements, undergo regular performance evaluations, and follow established termination procedures to uphold their rights and legal obligations, ensuring compliance and fairness throughout their employment journey.

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. Do you have a question for me? Please send your questions and comments to me at Kari@SKYprop.LA.

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C APIT OLNEWS O L N E W S California

SCRHA Advocacy in Action - Watch List

By Molly Kirkland, SCRHA Director of Public Affairs and Pat Moran, Legislative Advocate, Aaron Read & Associates

The second year of the 2023-2024 legislative session is underway and the unreasonable and unnecessary bill ideas keep coming . SCRHA’s State Government Affairs Committee has spent hours pouring over legislation that would impact rental housing owners and managers, large and small businesses, and much-needed housing construction.

SCRHA is supporting several bills that would create and/or bolster rental assistance programs However, the state budget deficit is massive, and it will be difficult for legislation that requires funding to get passed this year. We remain hopeful that legislators will see the wisdom of funding a leg-up for certain renters that also makes housing providers whole rather than simply creating more regulatory burdens for housing providers.

SCRHA is also supporting the following bills.

• AB 2059 (Flora) - Tenancy: obligations of landlords: repairs - This bill makes it clear

that a landlord is not liable for dilapidations rendering the premises untenantable, unless the landlord receives written or oral notice of the dilapidations and the landlord is given a reasonable time to repair the dilapidations . The bill would specify that if a landlord acts to repair the dilapidations within 30 days following the notice, it is presumed they acted within a reasonable time . SCRHA will be seeking an amendment to remove oral notice.

• AB 2114 (Irwin) - Building standards: exterior elevated elements: inspection – This bill will add licensed civil engineer to the list of those who can conduct an inspection in Common Interest Developments.

• AB 2278 (Wendy Carrillo) - Rent increases: percentage change in the cost of living: Department of Housing and Community Development – This bill originally sought to require that the Department of Housing and Community Development post the rent increase percentages on their website by August 1 of each year While SCRHA supports the notion

that government should provide the information necessary to comply with the laws they pass, SCRHA expressed concerns with a deadline that coincides with when new rent increase figures become applicable . As a result, the bill has been amended to have the information posted by July 1 . It was also amended to place the responsibility on the Attorney General. SCRHA is still pushing for an earlier publish date so that owners and managers can plan their increases and deliver notices according to state-required timelines.

• SCA 4 (Seyarto) - Property taxation: principal residence and family home transfers – This constitutional amendment would reverse part of Proposition 19 that has created issues for those inheriting property. The measure would reinstate, on January 1, 2025, the prior rule excluding from classification as a “purchase” or “change in ownership” the purchase or transfer of a principal residence, and the first $1,000,000 of other real property, in the case of a purchase or transfer between parents and their children, or between grandparents and their grandchildren if all the parents of those grandchildren are deceased.

Now to the bad news While SCRHA is still reviewing bills that have recently-added language or changed from their original intent, we already have a solid list of bills to oppose.

• AB 2187 (Bryan) - Office of Tenants’ Rights and Protections - This bill would, upon appropriation by the Legislature, establish the Office of Tenants’ Rights and Protections. Protections in the Business, Consumer Services, and Housing Agency, administered by a director appointed by the Governor, and would require that office to create and maintain an up-to-date, digestible, and language-inclusive list of statewide tenants’ rights and protections On its surface this bill does not seem harmful to the industry, but SCRHA is concerned that the role of this office might grow over time to include a “landlord” registry. It’s also concerning that despite all the new laws that impact housing providers, no resources are created to help property owners and managers.

• AB 2216 (Haney) - Tenancy: common household pets – This bill seeks to prohibit a landlord, before accepting the prospective tenant’s

application, from asking whether they plan to own or otherwise maintain a common household pet in their dwelling unit. The bill would require a prospective tenant, no later than 72 hours before entering into a rental agreement, to inform the landlord if they plan to own or otherwise maintain a common household pet. The bill would also prohibit a landlord from preventing a tenant from owning or otherwise maintaining a common household pet without reasonable justification . It would also prohibit charging additional rent (pet rent) . However, rental agreements entered into prior to January 1, 2025, that already limited or prohibited pets and/or charged pet rent would not be subject to the law SCRHA is opposed to the bill and will monitor amendments.

• AB 2384 (Wilson) - Public swimming pools: emergency telephones – This bill would require a landline phone on pool decks. It fails to account for infrastructure costs, the type of phone line, and how it can be abused or damaged . The bill is not scheduled to be heard in Assembly Health Committee until April 16 so there is no analysis available yet that points to a need for such requirement.

• AB 2785 (Wilson) - Tenancy: application fees and security deposits – Firstly, thank you to all of the members who responded to the SCRHA Action Alert on this bill . As originally written, this bill would require a landlord to, within 30 days of receiving a tenant’s security, deposit the sum into an account of a bank or other financial institution regulated by the state or federal government and require that any balance originating from the security that remains in the account after reimbursement to the landlord, including interest accrued on that balance, is payable to the tenant. It would also have prohibited application screening fees from exceeding $50 per applicant and remove the provision authorizing the landlord to adjust the application screening fee annually The bill would also require the landlord to return any amount of the screening fee if the landlord does not select the applicant for tenancy or if the fee collected exceeds the prescribed amount Thanks to SCRHA’s advocacy, the bill was amended in the Assembly Judiciary Committee to not require an interest-bearing account While slightly improved, SCRHA is still opposed and concerned with the amount of work the bill will

require of housing providers and the screening fee cap and refund policy.

• AB 2801 (Friedman) - Tenancy: security deposits - This bill would limit claims against the tenant or the security for materials or supplies to the amount necessary to make reasonable replacements The bill would limit claims against the tenant or the security for materials or supplies related to repairs to those necessary to restore the premises back to the same condition it was in at the inception of the tenancy, exclusive of ordinary wear and tear The bill would also prohibit a landlord from requiring a tenant to pay for or asserting a claim against the tenant or the security for, professional carpet cleaning or other professional cleaning services. It would also prohibit the landlord from using the security for deductions for repairs or cleanings that are not identified in the itemized statement if an initial inspection was done.

SCRHA is also opposed to: AB 2584 (Lee) which would prohibit a business entity that has an interest in more than 1,000 singlefamily residential properties from purchasing, acquiring, or otherwise obtaining an interest in another single-family residential property and subsequently leasing the property. SB 1103 (Menjivar) which would apply what exists in residential tenant law to commercial tenancies for rent increase noticing and security deposit caps and would require notice 90 days prior to the proposed date of termination if the tenant has occupied the property for 3 years or more AB 1333 (Ward) which would prohibit a developer of residential one to 4 dwelling units from conducting a sale of 2 or more parcels of real property containing one to 4 residential dwelling units, inclusive, in a single transaction to an institutional investor if the

occupancy permit was issued on or after January 1, 2025.

As you can see, the SCRHA State Government Affairs Committee has no shortage of bills to review. At the time of writing this in early April, the committee was preparing to comb through even more bills that might impact your business and livelihood Also, SCRHA volunteers were preparing to head to Sacramento for the April 10 Legislative Day to discuss several of these bills with decision makers SCRHA will keep you posted as the legislative session progresses.

QuickBooks Vs. Property Management Software For Accounting

by Max Glassburg, Yardi breeze

A2022 study by RETI revealed 64% of property management businesses use spreadsheets as their primary accounting tool At the same time, many others use basic accounting platforms such as QuickBooks, arguably the bestknown bookkeeping software for small businesses in the U.S.

But are these programs really the best fit for you? Probably not, especially when there are solutions specifically designed for property management

Here’s why. All-in-one property management software is able to handle all your unique needs (e.g., marketing, leasing, accounting, operations). Basic accounting tools can’t do this, which is why it can be challenging to adapt general accounting software like QuickBooks . In this article, we’ll do a quick analysis of QuickBooks for real estate accounting We’ll look at what it does and doesn’t do for this

industry If you’re at the point where you need to choose between all-in-one property management software like Yardi Breeze and general bookkeeping software like QuickBooks, this read is for you.

QUICKBOOKS FOR PROPERTY MANAGEMENT

QuickBooks has been popular and reliable accounting software for decades . Many small businesses use it effectively for bookkeeping, but that doesn’t make it an ideal program for property management and real estate accounting.

If you want real estate functionality, QuickBooks needs to be integrated with another solution You might even need a bookkeeping software to do everything you want to do. This means you’ll have to pay for at least two solutions and manage multiple logins. If you’re looking for a single source of truth in your accounting and reporting, Yardi Breeze and Yardi Breeze Premier are all-in-one systems purposely built for property management with builtin, robust accounting functionality

Max Glassburg is a senior marketing writer at Yardi He is usually found writing blog content for Yardi Breeze and especially enjoys connecting with clients and sharing their successes with the real estate community. In his spare time, he is probably working it on the guitar.

In fact, Breeze clients who switch over from QuickBooks or other accounting software frequently cite multiple logins as an irritating and timeconsuming problem before implementing Breeze For example, according to Breeze user Marty Gonzalez, “Managing several multifamily properties with spreadsheets and outdated software created multiple pain points, making it cumbersome and time-consuming to perform even the simplest tasks.”

GENERAL ACCOUNTING SOFTWARE FOR PROPERTY MANAGEMENT

General accounting software targets multiple markets and business structures. QuickBooks may be a widely used accounting solution, but it’s not specifically designed for real estate accounting As a result, creative setup and customization is often necessary to make it work

Furthermore, businesses using QuickBooks will likely outgrow its capabilities and require a more specialized solution . If you’re deciding between property management solutions and bookkeeping software, we encourage you to make a side-by-side comparison Breeze and Breeze Premier function as all-in-one solutions for marketing, leasing, reporting, accounting, maintenance, rent collection, resident screening, invoice processing and everything else you need to run your business.

ALL-IN-ONE ACCOUNTING FOR PROPERTY MANAGEMENT

Breeze is designed specifically for real estate. Its features cater to the unique requirements of the industry.

Think of property management software this way: accounting software is a one-size-fits-all accounting software, and Breeze is an all-in-one property management solution with robust accounting specifically built for real estate Many clients and consultants tell us that the lack of a tenant ledger in QuickBooks ends the conversation right then and there, as this critical property accounting feature is a core aspect of Breeze’s built-in accounting suite.

As a single stack solution, Breeze provides a transparent and competitive pricing structure . Perhaps most crucially, it eliminates the need for additional software as well as any integration fees you might incur Many competing property management and accounting solutions lack robust commercial functionality, important real estate accounting and tax features, appropriate

reporting structures, ILS site syndication for property marketing and more.

UNIQUE BENEFITS OF DEDICATED PROPERTY MANAGEMENT SOFTWARE

Unlike some small business structures, property managers require dedicated software for operations and accounting It’s essential to find a solution that effectively combines both to avoid problems (e.g., double or triple entries) and ensure a seamless user experience . Breeze and Breeze Premier help mitigate risks associated with audits, data inconsistencies and communication breakdowns among team members.

As all-in-one solutions, Breeze offers an unparalleled number of features tailored to property management:

• Rent rolls

• Property-specific reporting

• Tenant portals and lease tracking

• Late fee assessments

• Vendor-related accounting procedures

• Simple, predictable pricing structures

• Powerful commercial functionality

• Industry-leading accounting and tax functionality

• Advanced reporting and flexible analytics

• Built-in job cost functionality

• Regional functionality (e.g., state-based lease docs)

• No delays to receive screening reports

• No additional costs for inspections

• No charges for 1099 electronic filing (others charge $25 per batch and $4 per form)

• Free, unlimited live chat support

• Add-on modules to suit unique needs (e.g., maintenance call center, chatbot, energy solutions, investment management, fullservice invoice and check processing)

FLIP THE SCRIPT: WHO WOULD BENEFIT FROM QUICKBOOKS OVER YARDI BREEZE?

Clients with smaller portfolios — perhaps fewer than 10 units — or those who are just starting out in the industry may be able to use QuickBooks for property management There will still be workarounds, but with a simple rent roll, difficulties will be kept to a minimum . Nonetheless, Breeze is designed to

streamline every aspect of property management, regardless of portfolio size, making it an ideal longterm solution that can adapt as your business grows.

TRANSITIONING FROM ACCOUNTING SOFTWARE TO PROPERTY MANAGEMENT SOFTWARE

We understand there are challenges when transitioning from one software to another. For some businesses, these challenges are minor, and the process is complete in days or a few weeks For those with many charts of accounts, multiple property types or other complex setups, switching software can be more involved.

Even if that sounds like a lot, consider what you’d be missing by not switching . Evaluate potential solutions, especially if the long-term benefits

outweigh any short-term setbacks. Identify where there’s room for improvements and outdated systems or practices aren’t holding your business back.

CONCLUSION

We’ll leave you with a quick takeaway The best bookkeeping software for landlords with small portfolios is the one that comes across as the most honest, open and upfront. It’s the one that does the most at an affordable price you can calculate from the get-go Before you sign the agreement, you’ll want to know whether there are setup charges, transaction fees, charges for 1099s and other business-critical factors . Assess each potential solution carefully, and don’t be afraid to ask the hard questions during your evaluations.

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

Choose Cert-A-Deck for your deck inspections and experience the expertise and professionalism that sets us apart.

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6.

SCRHA Forms Update

SCRHA is pleased to announce that several forms have been updated so that members can continue to comply with state and local laws. Members may access the latest forms via their Azibo account.

SB 267 which went into effect on January 1, 2024, requires that housing providers allow applicants with government rent subsidies the opportunity to provide alternative evidence of their ability to pay versus having their credit report run as part of screening. SCRHA’s Application to Rent now reflects this option.

SB 567, effective April 1, 2024, changes the rules and requirements when terminating tenancy for No-Fault Cause, specifically for Owner/Family Member Move-In and Substantial Remodel/Demolition. These rules were also adopted into the Tenant Protection Ordinances (TPO) of the cities of Chula Vista and San Diego. Forms specific to those local ordinances have been updated, as has the form for jurisdictions that fall under statewide Just Cause Visit socalrha org for additional information on SB 567 and compliance.

List of Updated Forms

• Form 110 Application to Rent – Updated to include credit screening options for individuals receiving housing assistance through Section 8 or other government subsidies.

• Form 418 Chula Vista Termination of Tenancy –Residential Rental Complex (3+ Units) - Updated to include required fields for Owner/Family Member Move-In and Substantial Remodel This form is for 3+ Unit properties that are not exempt from the TPO.

• Form 419 Chula Vista Termination of Tenancy 2 or Fewer Units – Updated to include required fields for Owner/Family Member Move-In and Substantial Remodel. This form is for properties of 2 or fewer units that are not exempt from the TPO.

• Form 420 City of San Diego Termination of Tenancy (Just Cause) – Updated to include required fields for Owner/Family Member Move-In and Substantial Remodel This form is for properties of any size that are not exempt from the TPO Please note that the City of San Diego requires an additional explanation in a termination notice of why the remodel work will take longer than 30 days.

• Form 421 Sixty Day Notice Termination of Tenancy Statewide Just Cause – Updated to include required fields for Owner/Family Member Move-In and Substantial Remodel. This form is used for all other jurisdictions which fall under the Tenant Protection Act (AB 1482).

(619) 867-1713

San Diego (38428)

THREE 1031 EXCHANGE INVESTMENT OPTIONS

BY DWIGHT KAY Kay Properties and Investments, LLC

It’s both an exciting time and a very trying time when an investor sells a property and wants to defer taxes in a 1031 Exchange . A 1031 Exchange is when an investor sells a property that was held for business or investment use and then exchanges into another property of equal or greater value in an effort to defer taxes.

There are three basic choices that investors can make in 1031 Exchange investment opportunities.

Before reading on, make sure you visit the Kay Properties resource page and learn more about 1031 exchange basics so you invest like a professional.

1031 EXCHANGE INVESTMENT OPPORTUNITY NUMBER 1:

An investor can purchase a property that they

own and manage on their own. This is what most investors think about and at first blush, seems like the easiest choice. However, when an investor tries to find a property, do their due diligence, and then close on the property within the timeframe of a 1031 Exchange, it’s often not as easy as it looks. If the purchase can be accomplished in time, the investor then has the burden of property management with the dreaded tenants, toilets, and trash that go along with management. Often, when purchasing a property to manage, investors find they must put all their money into one property which, to the investor’s detriment, negates any form of diversification*. The investor may even have to go to a bank to borrow funds to complete the purchase. Adding financing to a property adds potential recourse against the investors other assets, potential cash flow sweeps,

Dwight Kay is the Founder and CEO of Kay Properties and Investments, LLC. Dwight is a published author with multiple published white papers and articles on 1031 exchanges, Delaware Statutory Trust (DST) properties and real estate securities. He has been interviewed on local and nationally syndicated radio stations on the matters of 1031 exchanges and replacement properties. He also is the author of the published book “Delaware Statutory Trust (DST) Properties: An Introduction to DST Properties for 1031 Exchange Investors.” Dwight began his career in commercial real estate working for a national commercial real estate brokerage firm focusing on multifamily and commercial real estate.

and the potential to lose the property to the lender in foreclosure.

1031 EXCHANGE INVESTMENT OPPORTUNITY

NUMBER 2:

A second option is when the investor purchases a Triple Net Leased NNN property where the commercial tenant is responsible for rent, taxes, insurance, and some or all of the maintenance on the property NNN Properties often are priced from $1.5 Million to over $10 Million so it may be hard to diversify and investors could end up being over concentrated in one asset class, with one tenant, and one location. During the Covid 19 crisis, many tenants asked for rent relief including even Starbucks, an investment grade tenant. This means NNN owners might have to hire an attorney to negotiate with a massive company over terms and payments which would be tricky for most 1031 investors to say the least. There are also other management issues that many owners don’t think about such as making sure insurance is up to date, that any common area maintenance fees are prorated and collected, that the tenant is indeed paying property taxes in a timely manner and how to re-tenant the building if the property becomes vacant. If there is a loan on the property, the monthly mortgage payment has to be made by the owner even if there is no tenant paying rent. It can get burdensome and be incredibly more risky than 1031 exchangers are often led to believe.

1031 EXCHANGE INVESTMENT OPPORTUNITY

NUMBER 3:

Another way to invest in a 1031 Exchange is into DST 1031 Properties. The DST Delaware Statutory Trust property is where the investors own a piece of the property instead of owning the whole property. By dividing up their investment funds into multiple properties, an investor can own properties in different geographic locations, with different asset classes and different tenants and even different property managers. With a DST, investors are usually investing in high quality properties that they might not be able to afford on their own. These properties are professionally managed and so they are passive investments where the DST sponsor companies (the asset managers) are the ones responsible with the day-to-day issues involving real estate ownership Tenants, toilets, and trash are no longer a concern for the investors If the 1031 investor needs to replace debt in their 1031 Exchange, the loans in the DSTs are non-recourse to the investors which means that the investor doesn’t have to sign personally for the

loans For those investors not wanting the risk of lender foreclosure and not needing debt replacement in their 1031 exchange, due to the fact that they already paid off their mortgages and own their property free and clear, debt free DSTs are available with no long-term mortgages encumbering the assets. DSTs feature properties in most of the major asset classes including multi-family, medical office, NNN retail, industrial, and even self-storage.

ABOUT KAY PROPERTIES & INVESTMENTS & KPI1031.COM

Kay Properties and Investments 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, and real estate research and analysis on each DST (typically 20-40 DSTs). Kay Properties team members collectively have over 200 years of real estate experience and have participated in over 30 billion of DST 1031 investments . Past performance does not guarantee or indicate the likelihood of future results. Diversification does not guarantee profits or protect against losses. All real estate investments provide no guarantees for cash flow, distributions or appreciation as well as could result in a full loss of invested principal Please read the entire Private Placement Memorandum (PPM) prior to making an investment This case study may not be representative of the outcome of past or future offerings. Please speak with your attorney and CPA before considering an investment.

There are material risks associated with investing in real estate, Delaware Statutory Trust (DST)properties 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 multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. All offerings discussed are Regulation D, Rule 506c offerings. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential distributions, potential returns, 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.

Investing in Apartments: Seizing Opportunities in a Changing Landscape

By Mercedes Shaffer, Realtor

In a world where inflation is reshaping the economic landscape and causing the cost of capital and the prices of everyday essentials to surge, apartment owners are finding themselves in a favorable position. The everincreasing costs of goods and services, from a basic loaf of bread to a beloved Big Mac, have led investors to search for stable avenues to safeguard their financial portfolios. This is where the apartment rental market emerges as a promising haven for smart investors.

Consider the significant shifts that have taken place since 2019 before the pandemic swept across the globe. Back then, a loaf of bread cost a mere fraction of what it costs now, having inflated by a staggering 55%. Milk prices have seen a 31% hike,

while ground beef and favorite snacks like potato chips and a 2-liter soda experienced a soaring increase of 34% and 48% respectively Even the iconic Big Mac witnessed a remarkable price jump from $3.79 to $5.17 during this period. At the same time, wages have not kept pace, increasing an average of just over 3% since 2019 . As these figures illustrate, inflation has squeezed wallets and left consumers grappling with higher expenses . While the pace of inflation may have eased slightly, the reality of elevated prices remains a lasting fixture.

Real estate, notably the apartment rental sector, has been greatly affected by these dynamics

Examining the Home Price Index by Freddie Mac

Continued from page 46

reveals that the Los Angeles / Orange County metropolitan area has witnessed an impressive 40% surge in home prices since the summer of 2019. This upward trajectory in home prices, combined with soaring interest rates, has reshaped the concept of entry-level homeownership, gradually reducing the availability of affordable options.

A glance back at the year 2013 serves as a telling narrative of the shifting goalposts in Los Angeles’ real estate market’s lower echelons . During that period, 48% of all closed detached home sales remained below $500,000 Fast forward to 2019, and this proportion dwindled to 23%, with only 1,309 detached homes falling within this price range in Los Angeles. As we charge through 2023, the scenario has evolved even further, with only 216 detached homes sold below $500,000 Just the notion of acquiring a detached home for under half a million dollars has become a thing of the past.

a MUCH LOWER initial deposit, many find renting more appealing . It offers flexibility, convenience, and a cost-effective solution for those seeking com-fortable living spaces without the burdens of homeownership, and consequently, this trend is boost-ing demand for rental housing, especially with Gen-Z whose population is estimated to be 69.58 million in the U.S.

The investment game has changed, in large part due to government interference, and as a result many people are shying away from the multifamily industry despite the potential lucrative returns.

As entry-level homeownership becomes increasingly elusive due to rising home prices and scarcity, the demand for rental apartments and rental homes is likely to intensify. In this evolving landscape, the apartment rental market shines as a beacon of opportunity for investors seeking yield and security, and the growing demand for investment property is driving price increases in multifamily as well.

These statistics starkly underline the acute shortage of affordable housing options in the current market. The scarcity of affordable homes, increasing interest rates, and falling savings rates, have been drivers behind the decadelong increase in average age for first-time home buyers in the U.S. to 34 years old.

In today’s market, if someone is lucky enough to find an entry level home for $500,000, assuming a down payment of 10% ($50,000) at today’s 7.5% interest rate, their monthly mortgage, taxes, and insurance would total around $4,082 However, considering the higher quality and better location of rental homes for a similar monthly payment and

The investment game has changed, in large part due to government interference, and as a result many people are shying away from the multifamily industry despite the potential lucrative returns. The key when buying is to have a deep knowledge of the various submarkets to be able to identify the best opportunities. As a result, the market favors savvy buyers who are ready to move quickly.

If you’re considering buying, selling, doing a 1031 exchange or if you would like a free property valuation, call (714) 330-9999 or email InvestingInTheOC@ gmail.com. I’m Mercedes Shaffer, a multifamily and commercial real estate agent with Coldwell Banker Realty, helping you build wealth one door at a time. DRE 02114448

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.

NMLS #613320

Vice President, Commercial Loan Officer (951) 403-0567 | gkoenen@myprovident.com

They Want to See Diversity and Inclusion

Since 1956 HOMEGROWN & LOCAL GINA KOENEN

This highly educated, highly diverse generation is craving a passion and dedication to diversity and inclusion from their employers. As a result, “86% of

Gen Z job seekers cite a commitment to diversity important factor in deciding whether or not to accept Here it is very important company to talk the talk the walk. Diversity and cannot just be a phrase company’s mission statement a committee that meets quarter. This dedication to be seen in initiatives asking one’s pronoun preference, adequate accommodations those who are differently-abled, policies to ensure fair and pay, etc.

They Want an Offer, and Want it NOW

Standard HR procedures

it difficult to establish a committee and follow the protocol when extending Gen Z wants no part of

1031 EXCHANGE & TRUST SERVICES

Exeter 1031 Exchange Services, LLC (619)239-3091

SMIB Management Inc (619)206-5550

ADVERTISING & MARKETING

Apartment News Publications (714)893-3971

Apartments com (888)658-7368

Financial Designs, Ltd. ........... . (858)597-1980

J&J Creative, LLC (760)703-4471

Realtor com (805)223-9413

Rent (858)220-8521

Zillow Rentals (206)516-2263

AIR CONDITIONING

Aquinas HVAC (619)410-3154

APARTMENT BROKERAGE / SALES

Doug Taber CCIM - Rental Housing Broker .(619)483-1031

APPLIANCE MAINTENANCE & REPAIR

Mr. Appliance of Ramona ............ (760)896-4994

APPLIANCE SALES

R & B Wholesale Distributors, Inc (909)230-5400

Western State Design, Inc (510)931-7099

ATTORNEYS-AT-LAW

Andrew Griffin ............... .(619)440-5000

Heinz & Feinberg ..............(619)238-5454

Kimball, Tirey & St John LLP .(619)234-1690

Todd A. Brisco & Associates, APC (714)634-2814

BACKFLOW TESTING

Pacific Backflow Company, Inc.(760)639-4000

San Diego Backflow Testing, Inc.(877)363-8378

BANKS

Chase Commercial Term Lending (619)464-0573

BATHROOM REMODELING & REFINISHING

American Bathtub Refinishers (619)265-9200

CABINET AND COUNTERTOPS

Grand Design Kitchens (760)789-0992

Marjan Stone (719)651-2041

Qwikkit ............................ (713)540-3205

Surface Experts Central San Diego (858)926-4041

CARPET CLEANING

Cleanology Housekeeping Personnel Service .(619)281-2532

CARPET SALES & FLOORING

America’s Finest Carpet Company (800)888-1568

C R FLOORING COMPANY (619)748-0015

J & C Carpet Company (619)498-1424

KJ Carpet Wholesale (909)455-0180

Sid’s Carpet Barn, Inc (619)477-7000

CLEANING & JANITORIAL SERVICES

Atlas Property Service (858)386-4578

Bar-B-Clean San Diego South (858)988-7966

Cleanology Housekeeping Personnel Service (619)281-2532

DAPA Services Inc. .................. (619)221-9292

Pacific Coast Cleaning, Inc (858)565-1603

Sea Crest Services, Inc. .............. (949)477-4961

TWS Facility Services (888)883-1915

COIN-OPERATED LAUNDRY EQUIPMENT

All Valley Washer Service (800)247-1100

WASH Multifamily Laundry Systems (858)279-1234

COLLECTIONS

Kimball, Tirey & St John LLP (619)234-1690

BuzzCRS, Inc .................. . (816)341-8887

CONSTRUCTION MANAGEMENT

Southern Cross Property Consultants .(858)945-2629

CONSTRUCTION AND REMODELING

Cambridge Maintenance and Property Services, Inc. (619)320-8334

CHC Construction (858)228-7036

Dexcore Restoration (619)993-3417

Larry O’Dell Construction (619)501-5252

McMillin Contracting Services ..... . (619)401-7000

Workright Property Services Inc (858)751-6312

DECK COATING

General Coatings Corporation (619)707-2639

Life Deck Coating Installations (619)262-8600

ELECTRICAL CONTRACTORS

Kennedy Electric ..............(619)582-6568

EMERGENCY SERVICE FLOOD / FIRE

All Dry Services of San Diego (858)353-1646

ATI Restoration, LLC............. . (619)318-2807

BELFOR Property Restoration (858)847-9886

Generation Contracting & Emergency Services, Inc (858)679-9928

Pinnacle Services (877)673-9049

RAMM Restoration .............. . (760)807-8743

EMPLOYMENT AGENCY

Go-Staff (858)518-0326

Legacy Apartment Staffing (619)387-5530

The Liberty Group (951)744-0057

ENERGY EFFICIENCY CONSULTING

ESA Multifamily Energy Savings Program(310)899-5382

Statewide Reach Codes Program ..... (619)987-7035

ENVIRONMENTAL: ASBESTOS / LEAD / MOLD

JJ&S Environmental Services (760)536-3178

Vert Environmental (858)433-3290

EVICTIONS

Kimball, Tirey & St John LLP .(619)234-1690

EXTERMINATORS

Payne Pest Management ....... . (877)277-3970

FINANCIAL SERVICES

Zego .(858)602-2780

FITNESS EQUIPMENT & SALES

Advanced Exercise (303)996-0048

Opti-Fit (888)601-4350

FLOOR COVERINGS

Real Floors (951)317-2231

Redi Carpet Sales of California , LLC (858)576-8400

FURNITURE RENTALS

Cort Furniture Rental .(858)549-0800

GENERAL CONTRACTORS

Apex Contracting & Restoration, Inc .(858)987-1800

A-S General Contracting .(619)379-9410

BluSky Restoration Contractors, LLC .(619)398-0200

Camp Construction Services .... .(713)413-2267

M. C. Contracting Service ...... .(619)282-3083

Modular Building specialist corp (619)980-7481

GOLF CART SALES & SERVICE

CartMart Inc (760)744-4420

HEATING & AIR CONDITIONING

H2O Heating Pros, Inc (951)796-0168

Sam’s Heating and Air Conditioning, Inc (619)697-9824

INSURANCE

Crest Insurance Group......... .(858)547-1128

Farmers Insurance McWhirter Agency (619)463-7320

Pro Specialty Insurance Services (888)558-4776

INTERNET SERVICE PROVIDER

Cox (858)836-7582

Google Fiber (206)531-1250

Quantum Fiber (360)931-9864

Wyyerd Fiber (619)936-1927

LANDSCAPE MAINTENANCE & SERVICE

Landcare Logic ...............(951)316-8002

Pacific Green Landscape, Inc.(619)820-6614

LEAK DETECTION

Cable, Pipe & Leak Detection, Inc (619)873-1530

LENDERS

Luther Burbank Savings .(310)616-0356

MAILBOX INSTALLATION & REPAIRS

Sprint Postal Products (619)660-1956

MAINTENANCE & REPAIR

Schindler Elevator Corporation ..... (949)781-6056

MAINTENANCE SUPPLY

HD Supply (800)431-3000

Lowes Pro Supply

661-219-5611

PACKAGE/PARCEL MANAGEMENT SERVICES

Parcel Pending .(949)490-6987

PAINT MANUFACTURERS & SUPPLIES

Behr Paint ...................(760)415-6015

Dunn-Edwards Corporation .(619)884-3866

Sherwin-Williams Co .(714)404-8212

PAINTING

Executive Coatings & Contracting (888)300-6786

Primus Paint Worx, Inc (619)738-8022

PARKING MANAGEMENT SOFTWARE

Reliant Parking Solutions .(888)977-6848

PAVING MAINTENANCE

Eagle Paving .................(858)486-6400

PEST CONTROL

ATCO Pest Control (415)898-2282

BugMizer Termite and Pest Inc ........ (760)855-2847

Kilter Termite and Pest Control (714)348-0488

Lloyd Pest Control (800)570-2847

PLUMBING

BioAir Mechanical & Plumbing (858)348-9248

Pfister (720)660-2883

PROPERTY MANAGEMENT PERSONNEL

BG Multifamily .(619)785-3164

InterSolutions .(619)804-2554

PROPERTY MANAGEMENT SOFTWARE

Domuso 985-210-3473

RATIO UTILITY BILLING SYSTEMS

Livable......................(877)789-6027

REAL ESTATE

Doug Taber CCIM - Rental Property Broker .(619)483-1031

Voit Real Estate Services .(858)453-0505

RENT GUARANTOR

TheGuarantors .(212)266-0020

REPIPING

National Renovations, LLC - DBA Repipe Specialists, Inc ............... .(703)801-8269

RESIDENT RETENTION

WithMe ..................... .(714)476-6059

RESIDENT SURVEYS

SatisFacts Research ...........(866)655-1490

ROOFING

A-1 All American Roofing Company (858)537-5177

Commercial & Industrial Roofing (619)465-3737

Gorman Roofing Services (602)262-2423

Sully-Jones Roofing (800)611-3110

SECURITY GUARD PATROL

Securitas Mobile Guarding ......(619)214-4919

Security First .................(619)243-3992

SECURITY SERVICES

Bald Eagle Security Services, Inc (619)230-0022

Brothers in Arms Security (844)458-1021

HandyTrac Systems (800)665-9994

JDS Security (619)781-8694

Signal Security (619)363-7233

SEISMIC RETROFIT

Optimum Seismic .(562)298-6395

SMART TECHNOLOGY

Ivy Energy (801)318-7803

SUBMETERING / BILLING SERVICES

Conservice Utility Billing & Mgmt (602)481-7440

QMC Metering Solutions (778)809-0052

VITALITY IO, Inc (801)341-1844

TENANT SCREENING

Intellirent (415)849-4400

TOWING SERVICES

Western Towing ...............(619)297-8697

TREE SERVICES

Rancho Coastal Tree ...........(619)847-4225

WASTE MANAGEMENT

Strategic Sanitation Services ...... . (877)271-7909

Valet Living ..................... (813)248-1327

WasteXperts, Inc................ . (206)496-9289

WATER DAMAGE RESTORATION

First Onsite .(858)880-5419

Generation Contracting & Emergency Services, Inc..........................(858)679-9928

Hometown Restoration .........(858)663-8330

Restoration Management Company(858)933-1871

SERVPRO of Sorrento Valley .(575)420-3885

WINDOWS

Newman Windows and Doors (760)809-8113

applyconnect

HELP STOP RENT CONTROL INITIATIVE

2024 BALLOT INITIATIVE WHAT IT DOES

Local jurisdictions will have free rein to impose and expand rent control.

Will prohibit rent increases upon vacancy (also known as vacancy de-control) by eliminating the owner's ability to charge the market rate when a tenant vacates the unit.

Imposes rent control on all properties i ncluding single-family homes and condominiums by eliminating AB 1482 protections.

FACTSHEET

A new rent control initiative will be on the November 2024 ballot.

PROPERTY OWNERS WHY IT MATTERS

Your rental income and property value will decline.

If you are renting your units below market, you may never catch up because the initiative allows local jurisdictions to "cap" how much you may increase rent following a vacancy.

Rent "caps" would apply to single-family homes and condominiums.

To stop this so-called "Justice for Renters" initiative in 2024, CalRHA and its affiliates are asking for your support and contribution to fight this third attempt by the same anti-housing activists behind Propositions 10 and 21 from 2018 and 2020. CalRHA and its regional associations collectively need to raise a minimum $5 million dollars, so we're all in this together.

To make a contribution, please scan the QR code. Thank you for your generosity.

$5 MILLION TARGET

The last rent control fight cost the broader housing industry $80 million dollars. This next fight will cost even more.

DEDICATED FUNDS

Funds will be deposited into a dedicated account specifically for fighting the initiative.

SUCCESS TOGETHER

We defeated both the 2018 and 2020 rent control initiatives. With your support, we can do it again.

SAN DIEGO GAS & ELECTRIC & 211 PARTNERING FOR YOUR SAFETY

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

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

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CHECK OUT THE OPEN BOXES, DISPLAY MODELS, AND DISCONTINUED ITEMS FOR FAMOUS SAVINGS!

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Experienced Associates to assist you with: Brand name products, sales, selection, and service

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

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Phone: (619) 236-0616 (ask for Joan)

E-Mail:Joan@aztecappliance.com

Mon.-Fri. 8:30am-5:30pm

Sat 10am-4pm

Sat. 10am-4pm

APARTMENT MANAGEMENT MAGAZINES

VALUE OUTREACH ADVOCACY

OURVISION

Reenvisioningquality housingforall

VALUE

Recognizedresourcehubthatinspires diversemembershipgrowth& engagementfromallsectorsofrental housing.

Theultimateresourceforallthings relatedtorentalhousing.

ADVOCACY

Rentalhousingfriendlypublic policy&electedandappointed officials

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Character&integritythatnegates needforregulation

OURMISSION

Tocreateathriving rentalhousing communitythrough advocacy,education, andcollaboration

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