State Rent Control – Assembly Bill 1482

The bill will restrict landlords from raising rents by more than 5% plus the regional Consumer Price Index which is about 2.5% in any year. Again in this bill there are exceptions. Less than then years old, and buildings owned by landlords with 10 or fewer single-family units. For more information: https://www.lamag.com/citythinkblog/california-rent-control/

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Independent Contractor Law Change – Assembly Bill 5

A small number, a big change for California. It codifies a stricter set of requirements laid out in a California Supreme Court decision regarding the classifying of employees. Simple English: More 1099’s will become W-2’s. You should check to see who lobbied and got exceptions. Doctors, dentists, insurance agents, stockbrokers, lawyers, accountants, engineers, and real […]

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Interest Rate Caps – Assembly Bill 539

This bill is waiting signature by the Governor as of 9/16/19. His comments on payday lenders during the 2018 election indicates that he will sign it. This is the first change in 30 plus years. Lenders can ONLY charge 36% plus the Federal Funds Rate which currently is 2%. This rate applies to loans from […]

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NUMBERS FROM DRE

DRE Form 149 Just received the 2019 DRE Form 149 for the Fiscal Year ending June 30, 2019.  This is a form prepared by the DRE and sent to me each month. If you would like a copy, please go to our blog at www.duanegomer.info. Trends Some interesting and disappointing facts for a Real Estate […]

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