Archive | New Laws

More AB-5

Why? This law was sponsored by Lorena Gonzalez of South San Diego County. She believed that companies were classifying workers as Independent Contractors instead of employees. This was to deny them protection of Minimum Wage, Overtime, etc, etc, etc. Lorena did not speak to any friends, associates or acquaintances. Real Estate Licencees and many other […]

Continue Reading 0
Model house and money coins balancing on a seesaw

Single Family Landlords

Tenant Protection Act of 2019 AB 1482 is in full effect. Most all individually owned single family rentals are exempt. But you must notify your tenants of your exemption. Rent Cap and Just Cause Addendum 12/19 I’m using CAR form RCJC, 12/19, a three pager. Good luck.

Continue Reading 0
Law, Legislation, Document.

Independent Contractor vs W2

AB 5 is in effect. Would be interesting to know what all of your companies are doing. Especially, for example, Lyft, Uber, Grub-Hub, and others. Exemptions As we know, Real Estate Agents are exempt along with Doctors, Dentists, Lawyers, Engineers. One IRS definition states that a Real Estate Licensee selling Real Estate is exempt. Just […]

Continue Reading 0

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 ten 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/

Continue Reading 0

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 […]

Continue Reading 0

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 […]

Continue Reading 0

HOBOR (HOMEOWNERS BILL OF RIGHTS)

New changes were passed by the State Senate and Assembly in 2018. The foreclosure volume has almost disappeared, but it is never too late to study foreclosure regulations to “protect your clients.” For more information, I recommend this article from Nolo.com. They are known for protecting tenants and as a Property Manage (CPM) for decades […]

Continue Reading 0
15372593 - clock faces, calendars and diary

CHANGE TO REGS YESTERDAY

Last URLA Post The last post was written early morning on the 12th of June. The following link discloses that the effective dates were changed and now no one knows when they will start. The lender and servicing lobby strikes again. Will pass along the information when we find it. Theresa Ballard, Compliance Icon from […]

Continue Reading 0

More Information & Classes - www.DuaneGomer.com