2024 Laws That Effect Housing And More

As the calendar turns to 2024, landlords in Los Angeles find themselves on the brink of significant legislative changes that will reshape the property management landscape. From tenant protections to energy efficiency mandates, it's crucial for landlords in the City of Angels to familiarize themselves with the new laws that will come into effect this year. Here's a comprehensive guide to help Los Angeles landlords navigate the evolving legal terrain.

AB 12: No more saving up two month's rent for a security deposit when moving into an apartment. This new law limits the amount landlords can charge for a security deposit to just one month.

AB 1418: Prohibits cities and counties from adopting nuisance ordinances that require or encourage penalties or even an eviction if a tenant or a family member had an interaction with law enforcement or a criminal conviction.

SB 4: Removes regulatory barriers to allow churches, religious organizations and non-profit colleges to build affordable housing on their land.

More Housing Laws In Effect in 2024

SB 407: Directs the California Department of Social Services to modify its foster parents' vetting process to ensure that LGBTQ+ youth are placed in supportive and gender-affirming homes.

SB 567: Modifies the state's 'no fault just cause' eviction to make it harder for a landlord to dislodge a tenant. Starting April 1, the law will require that if a tenant is evicted for an owner move-in, the property owners or their family members must move into a property within 90 days and live there for at least 12 months.

SB 712: Allows tenants to store electric scooters and bicycles in their apartment, as long as the battery meets certain safety standards. If a battery does not meet safety standards, then the tenant may have to purchase liability insurance or may be prohibited from charging the mobility device indoors.

For a complete list of the new California Laws that went into effect January 1st and that impact workplace, housing, transit, food, consumer, internet/social, entertainment and more, visit ABC News Article: HERE (Opens in a new tab)

In Case You Missed It From Our Last Newsletter - - - Are You Ready For SB326 and SB721?

SB 721 (2018) (Opens in a new tab) and SB 326 (2019) (Opens in a new tab)require inspections of Exterior Elevated Elements (EEE) by 2025. Buildings that are proposed for conversion to condominiums to be sold to the public after January 1, 2019, must be inspected prior to the first close of escrow. EEE inspections, as well as any required maintenance or repair which is identified as a result of the inspection, are the responsibility of the private property owner. While some local governments already impose a local inspection program, this California law requires inspection of specific balconies throughout California.

What Buildings Must be Inspected?

Buildings with 3 or more units that have:

• Balconies, decks, porches, stairways, walkways, and entry structures that extend beyond exterior walls of the building and that rely in whole or in substantial part on wood or wood-based products for structural support or stability; and
• A walking surface that is elevated more than 6 feet above the ground level; and
• Balconies designed for human occupancy or use.

If you are unsure if your building fits the criteria, feel free to give us a call. We work collaboratively with qualified inspectors and are happy to provide referrals.

Power Property Management Believes Strongly In Our Core Values

Elevating Property Management Through Values: In the dynamic world of property management, where challenges and opportunities abound, the importance of core values cannot be overstated. These guiding principles serve as the bedrock of a property management company, shaping its culture, defining its identity, and ultimately driving its success. They aren't just words on a page, our company's core values are are the foundation of our organization, our north star in guiding us in every decision we make and every action we take. Today, I want to share with you the essence of our core values: Resourcefulness, Adaptability, Loyalty, Family Values, and Doing the Right Thing.

Resourcefulness: At the heart of our operations is a commitment to resourcefulness. Property management often requires creative problem-solving and an ability to make the most of what we have. Whether it's finding innovative solutions to maintenance challenges, optimizing our resources for cost-efficiency, or seeking new opportunities in a changing market, we are resourceful in every aspect of our work. We believe that through resourcefulness, we can unlock the full potential of the properties we manage.

Adaptability: In the dynamic world of property management, adaptability is key. Markets evolve, tenant needs change, and regulations shift. To thrive, we must adapt quickly and effectively. This means staying current with industry trends, embracing new technologies, and being open to fresh ideas. Our adaptability enables us to meet the ever-changing demands of our clients and provide the best possible service.

Loyalty: Loyalty is a two-way street. We value the loyalty of our clients and tenants, and in return, we are steadfast in our commitment to them. This loyalty extends to our employees, who are the backbone of our company. We believe in fostering a culture of loyalty within our organization, where every member is valued and supported. This sense of loyalty helps us build lasting relationships and trust, which are fundamental in our line of work.

Family Values: Just as we prioritize loyalty, we also hold family values dear. We understand that our properties are not just buildings but homes to the families we serve. Our commitment to family values means creating safe, welcoming environments where our tenants can truly feel at home. It also means treating our employees and clients like members of our extended family, with care, respect, and empathy.

Doing the Right Thing: We believe in doing the right thing, even when it's not the easiest path. Ethical conduct and integrity are non-negotiable in our company. We are committed to fairness, transparency, and honesty in all our interactions. We strive to make decisions that benefit not only our organization but also the communities we serve.

In the world of property management, where client relationships, ethical decisions, and team dynamics are paramount, core values are the guiding stars. They define the essence of our property management company, shaping our culture, influencing our decisions, and ultimately determining our success. As property management professionals, embracing and embodying core values is not just a choice; it's a commitment to excellence, integrity, and the enduring success of our company and clients.

Value Add

Renovations that resulted in a 50% increase in rent!

Our dedicated team has been hard at work, orchestrating a transformative CapEx project for one of our esteemed property owners. The spectacular results of this value-add opportunity that has turned a single-family home into a true masterpiece speak for themselves.

🚀 Key Upgrades Include:

• ✔️ Stunning kitchen transformations featuring sleek quartz counters and modern cabinetry.
• ✔️ Elegant hardwood floors throughout, adding a touch of sophistication to every corner.
• ✔️ Luxurious bathroom renovations that redefine the concept of relaxation.
• ✔️ Ample storage solutions ensuring functionality meets style.

💰 Results That Speak Volumes:
Thanks to these thoughtful upgrades, the property underwent a remarkable transformation that not only enhanced its aesthetic appeal but also led to a staggering 50% increase in rent! 📈💸