URGENT: In California, two bills are about to pass that will completely destroy your property investments and our housing market, and our economy.
SB 1410 heard in Assembly Judiciary Committee on 08/12/2020 AND PASSED which means it is out of committee and going to Senate vote.
SB 1410 permits a tenant to stop paying rent and would prohibit the owner from serving a notice terminating the tenancy or filing a complaint for unlawful detainer for that unpaid rent during and for an additional period of up to twenty-four (24) months after the “State of Emergency.”
· Any rental property owner that has experienced a tenant’s failure to pay rent during the State of Emergency, is prohibited from filing an unlawful detainer to recover possession, unless that owner signs and offers the tenant a COVID -19 Eviction Relief Agreement, which is one sided and unilaterally optional for tenants only.
· This Agreement affirms that the property owner will agree to forego any rental payments due that accrue from March 2020 until 2024 and will not be fully repaid for rent that is due now until 2034 and only in the form of a tax credit and only IF THE FTB AGREES TO THE CREDIT!
· The state tax credit that will be amortized over a period of ten (10) years starting in 2024 prohibits charging interest on any deferred rent, consequently failing to compensate an owner for the time value of money which would be lost over the fourteen (14) year deferral period. For all the boomers who invested in the rental market for retirement, you’ll likely be dead before you’re “reimbursed.”
– All eviction notices for ANY reason since March 2020 would be retroactively void. Only prospective notices for public health and safety with tenant signed rejections of covid relief agreements could proceed. All agreements made between owners and tenants from March on may be set aside AT THE TENANT’S ELECTION.
AB 1436 will be heard in Senate Judiciary Committee on 08/18/2020.
This bill would prohibit the filing of unlawful detainer for up to 90 days following the lifting of the COVID-19 State of Emergency. Consequently, under the terms of this bill an action to recover unpaid rent is not permitted for up to twelve (12) months following the ninety (90) day period after the State of Emergency has lifted.
· AB 1436 would permit a tenant who has failed to pay rent during the State of Emergency period to remain in possession of the premises until a hearing, to be held no earlier than fifteen (15) months after the official lifting of the State of Emergency WITHOUT PAYING AND WITHOUT ANY REPAYMENT OF RENT.
· AB 1436 encourages non payment by stopping evictions for unpaid rent and the impeding the ability to regain possession, while at the same time prohibiting the reporting of any rent defaults occurring during the State of Emergency or ninety (90) days after, as a negative factor for credit.
Here is a “call to action” link from CAA:
If you care about this issue, please call your Member/Senator for the District you live in, work in or own Property in and urge the representative to vote no on SB 1410 (Caballero) and AB 1436 (Chiu).
Senator Durazo – Phone: (916) 651-4024
(Cities: E. Hollywood, Westlake, Koreatown, Boyle Heights)
Senator Gonzalez – Phone: (916) 651-4033
(Cities: Huntington Park, Lynwood, Paramount, Long Beach)
Senator Jackson – Phone: (916) 651-4019
(Cities: Santa Barbara, Ventura, Oxnard)
Senator Jones – Phone: (916) 651-4038
(Cities: San Diego, El Cajon, Escondido)
Senator Stern – Phone: (916) 651-4027
(Cities: Simi Valley, Thousand Oaks, Calabasas, Santa Clarita)
Senator Umberg – Phone: (916) 651-4034
(Cities: Seal Beach, Garden Grove, Santa Ana, Fountain Valley)
Tasha Boerner Horvath – Phone: 760-434-7605
(Cities: Carlsbad, Oceanside, Encinitas)
Autumn Burke – Phone: 310-412-6400
(Cities: Westside, El Segundo, Gardena, Hawthorne, Inglewood, Lawndale, Marina Del Rey, Playa Del Rey, Playa Vista, Venice, Westchester)
Ian Calderon. – Phone: 562-692-5858
(Cities: Avocado Heights, Hacienda Heights, City of Industry, La Mirada, La Puente, Puente Hills, Santa Fe Springs, Whittier)
Wendy Carrillo – Phone: 213-483-5151
(Cities: Los Angeles, East Los Angeles)
Sabrina Cervantes – Phone: 951-371-6860
(Cities: Riverside, Corona, El Cerrito)
Ed Chau – Phone: 323-264-4949
(Cities: Monterey Park, South San Gabriel, Alhambra, El Monte, Temple City, Arcadia)
Tom Daly – Phone: 714-939-8469
(Cities: Anaheim, Santa Ana)
Laura Friedman – Phone: 818-558-3043
(Cities: Burbank, Glendale)
Jesse Gabriel – Phone: 818-904-3840
(Cities: Van Nuys, Calabasas)
Cristina Garcia – Phone: 562-861-5803
(Cities: Artesia, Bell Gardens, Cerritos, Commerce, Downey, Montebello, Norwalk, Pico Rivera)
Mike Gipson. -Phone: 310-324-6408
(Cities: Carson, Compton, Gardena, Watts, Willowbrook, Wilmington)
Chris Holden – Phone: 626-351-1917
(Cities: Pasadena, La Canada, Flintridge)
Jacqui Irwin – Phone: 805-482-1904
(Cities: Oxnard, Camarillo, Thousand Oaks, Simi Valley, Moorpark)
Sydney Kamlager – Phone: 310-641-5410
(Cities: Culver City, Ladero Heights, West Los Angeles, Mid-City, Baldwin Hills, Windsor Hills)
Brian Maienschein – Phone: 858-675-0077
(Cities: North San Diego County, Poway)
Patrick O’Donnell – Phone: 562-429-0470
(Cities: Long Beach, Los Angeles, San Pedro, LA Harbor, Signal Hill, Wilmington, Channel Islands)
Cottie Petrie-Norris – Phone: 949-251-0074
(Cities: Huntington Beach, Laguna Beach, Costa Mesa, Irvine)
Sharon Quirk-Silva – Phone: 714-525-6515
(Cities: Fullerton, Buena Park, La Palma, Cypress)
James Ramos – Phone: 909-476-5023
(Cities: Rancho Cucamonga, San Bernardino, Highland, Redlands, Loma Linda)
Anthony Rendon – Phone: 562-529-3250
(Cities: Bell, South Gate, Lynwood, Lakewood, Hawaiian Gardens)
Eloise Gomez Reyes – Phone: 909-391-3238
(Cities: Colton, Fontana, Rialto, San Bernardino)
Luis Rivas – Phone: 818-504-3911
(Cities: Sylmar, San Fernando, Arleta, Pacoima, Sun Valley, Sunland, Tujunga)
Freddie Rodriguez – Phone: 909-902-9606
(Cities: Chino, Ontario, Montclair, Pomona)
Christy Smith.- Phone: 661-286-1565
(Cities: Santa Clarita, Simi Valley)