Welcome to April's Edition of Our Property Management Newsletter!
Spring is in full swing, and with the fresh bloom comes a season of renewal and readiness. This month, we’re focusing on ensuring your properties are perfectly primed for the warmer days ahead. From vital maintenance updates to seasonal tips like pest control, we’re here to help you maximize comfort and curb appeal. Get ready to dive into essential services and savvy advice designed to enhance your investment and keep your tenants happy. Let's make this season a productive one.
Seasonal Servicing Alert: Preparing Your Evaporative Coolers for Summer
It's that time of the year again! For our property owners with evaporative coolers, we're initiating the seasonal servicing to ensure your systems are optimal and ready for the warmer months ahead. Work orders are being dispatched to bring these units online efficiently and effectively. If you have any questions or specific requests regarding the servicing of your evaporative cooler, please reach out to us. Let's keep your properties cool and comfortable for the summer!
Weather Shifts and Pest Control: Get Ready for Bug Season
As we welcome the warmer weather, we're also seeing an uptick in the activity of bugs and spiders. For our property owners who have invested in pest control services, you're about to see the value of that decision. Regular pest management is essential this time of year to keep these unwelcome guests at bay. Remember, consistent pest control not only protects your property but also enhances the comfort and well-being of your tenants. Let's stay proactive and keep our properties pest-free this season!
California’s Assembly Bill 12 - Security Deposits
Effective July 1, 2024, California’s Assembly Bill 12 introduces significant changes to security deposit requirements for rental properties. Here’s a brief overview to help you understand the new regulations:
- General Limit: Landlords can no longer request a security deposit exceeding one month's rent.
- Exception for Small Property Owners: If you are a natural person or part of a limited liability company, where all members are natural persons owning no more than two residential properties (totaling up to four dwelling units), you may ask for up to two months' rent as a security deposit. This exception does not apply if any of the properties exceed four units in total or to active service members, who are always limited to one month's rent.
- Application of the Law: The new law applies to both furnished and unfurnished properties equally. The previous allowance for up to three months' rent for furnished properties has been removed.
- Pet Deposits: These are included within the general security deposit cap. Label any pet-related fees as additional deposits, keeping within the legal limits.
- Rent Payments:
Landlords can still collect the first month's rent upfront but cannot demand the last month's rent in advance as part of the security deposit.
- No Workarounds:
We encourage compliance with the law, using creative energy for more productive endeavors.
- Impact on the Rental Market: With many landlords now limited to one month's rent for security deposits, those qualifying for the two-month exception will find themselves at a competitive disadvantage, potentially deterring well-qualified tenants.
Prepare for the Busy Season: School’s Out Soon!
As the school year draws to a close, we anticipate a significant uptick in the rental market. Families and students alike are starting to look for new living arrangements, making the next few months a crucial time for property availability and visibility. At Authority Property Management, we’re geared up to help you capitalize on this busy season. Let's ensure your properties are ready to shine and attract the wave of potential tenants looking to make a move this summer.
Wrapping Up: Ready for a Stellar Season
As we close this edition of our newsletter, we thank you for your continued trust in Authority Property Management. Our team is committed to providing the best service and support as we transition into a busy summer. Should you have any questions or need assistance with your property management needs, please don't hesitate to reach out. Here's to a successful season ahead, filled with promising opportunities and great achievements. Stay connected, stay informed, and let's make the most of the vibrant months to come!
