Rentals In SF

We love when we find exceptional tenants for our clients!!

https://www.kqed.org/news/11995878/ai-raising-the-rent-san-francisco-could-be-the-first-city-to-ban-the-practice

AI Raising the Rent? San Francisco Could Be the First City to Ban the Practice | KQED The legislation comes as President Biden is looking to curb rental increases at 5% for corporate landlords.

Good morning, Just a reminder that beginning July 1, the maximum security deposit an owner can take is 1 months rent.

There is an exception:

This is taken from the California Apartment Association notice…

With an exception for qualified “small” landlords described below, effective July 1, 2024, AB 12 (Haney) limits the amount of a security deposit to one month’s rent for all tenants regardless of whether the rental unit is furnished or unfurnished.i Civ. Code 1950.5. Note that the law capping security deposits to one month’s rent as of July 1, 2024 is not retroactive; landlords are not required to refund to the tenant any portion of a security deposit properly collected from the tenant prior to July 1, 2024 that exceeds one month’s rent.

Special Exemption to Security Deposit Amount for “Small” Landlords
Effective July 1, 2024, there is a narrow exception to the one month’s rent cap for “small” landlords as described below. If this “small” landlord exception applies, a security deposit of up to two month’s rent, for either an unfurnished or furnished unit, may be collected.

The “small” landlord exception applies only to a landlord who (1) is a “natural person” or a “limited liability corporation in which all members are natural persons” and (2) owns no more than two residential rental properties that collectively include no more than four dwelling units “offered for rent.” A qualifying “small” landlord may collect a refundable security deposit from a new tenant in an amount equal to up to two month’s rent.

This is what we have been feeling since January…..

Report: SF Rents Still Coming Down, Despite Rents Going Up Pretty Much Everywhere Else Nationwide The San Francisco rental market is still facing a sluggish recovery, which is great news for local apartment-hunters, as the median rent for a one-bedroom apartment in SF is now 3.3% lower than it was a year ago.

https://socketsite.com/archives/2024/03/asking-rents-in-san-francisco-drop-nearly-25-percent-below-peak.html

Asking Rents in San Francisco Drop, Nearly 25 Percent Below Peak – SocketSite™ Having held at around $3,450 a month in January but slipped on a year-over-year basis, the weighted average asking rent for an apartment in San Francisco has since dropped to $3,400, which is 5 percent lower than at the same time last year, over 17 percent lower than prior to the pandemic and 24 per...

https://ktla.com/news/california/california-bill-would-require-landlords-to-accept-pets-report/?fbclid=IwAR16nLUQmTas1wzCpmMB_eEr7EIhztvkGVBR2DWXj3UnAG55XHpIt9M01Gg_aem_AdWjqeG2G7EGY6eOYyhvTiN3GPlQD2uEws9tYkt8LKvkewUsKp_RvQ9wYm3QE4BoFDQ

California bill would require landlords to accept pets A new California bill would require landlords to accept pets. The bill, formally known as AB 2216, was introduced by Assemblymember Matt Haney (D- San Francisco) and is considered to be the first l…

Rental Inventory/Availability in San Francisco Climbs – SocketSite™ While the cost of capital has climbed, back to an average rate, the weighted average asking rent for an apartment in San Francisco proper has now held firm at roughly $3,600 a month for the eighth month in a row. At the same time, the number of apartments listed for rent in San Francisco continues t...

https://www.sfchronicle.com/bayarea/article/s-f-apartment-demand-weak-18457897.php

S.F. struggles are causing ‘weak demand’ and rent concessions, apartment landlords say The city is still struggling from a pandemic hangover that is dampening apartment...

This will only make landlords tighten their screening criteria.

Maybe a better solution would be to not limit security deposits but to allow a down payment and monthly installments, or a fund for the city to come up with additional funds for deposit! Ha!

A California bill would cap renters’ security deposits A bill moving through the state Legislature seeks to cap that cost, as part of a broader...

I just had to share.
We showed the property today and found this sign on the breezeway door !!!!
Lol!!!

Can I AirBnB my SF Condo? We are often asked by buyers considering a condo, TIC, or stock cooperative purchase if they will be able to use their new home as a short-term rental. The answer is almost always: No, you may not. Short Term Rentals in SF Condos, TICs, Stock Cooperatives The use of your home in a multi-unit […]

This is for all the Landlords and Agents who are not yet members of the San Francisco Landlord Group here on Facebook!

Pricing units in a transitional market:
One of the current challenges landlords face is determining the optimal pricing for their units. Many landlords rely on the current listings in the market to gauge where they should start, but this approach doesn't provide insight into the actual rental prices those units achieve.
In a transitioning market, it becomes crucial to strike a balance between avoiding overpricing, which may lead to extended vacancy, and not undervaluing the property and leaving potential rental income on the table.
However, what I've discovered through experience is that regardless of the initial price, if you position the property appropriately, it will typically rent at its market value. A recent scenario serves as an excellent example. We had a property available, and it was initially listed at $4,200 plus parking. However, it generated minimal interest at that price point. Sensing the need for adjustment, we decided to lower the rent to $4,000/$3,995, which immediately attracted a significant amount of interest. Moreover, the open house received a substantial turnout, creating an impression of high demand for the property. Consequently, we received an offer that matched the original asking rent!
This real-life experience highlights the fact that while it may be uncertain where you should begin with your asking price, employing effective strategies and positioning the property appropriately can ensure that it rents at its market value, irrespective of the initial starting point.

https://sfstandard.com/business/the-grim-state-of-downtown-san-francisco-by-the-numbers/

The Grim State of Downtown San Francisco, by the Numbers Five data points underscore the city's potentially long path to recovery.

https://www.pbs.org/newshour/nation/eviction-filings-soar-over-50-above-pre-pandemic-levels-in-some-cities-as-rents-increase?utm_source=facebook&utm_medium=news_tab&mibextid=Zxz2cZ

Eviction filings soar over 50% above pre-pandemic levels in some cities as rents increase Among the hardest-hit are Houston, where rates were 56 percent higher in April and 50 percent higher in May. In Minneapolis/St. Paul, rates rose 106 percent in March, 55 percent in April and 63 percent in May.

New kitchen design trends!

https://www.thespruce.com/2023-kitchen-trends-6823768 #:~:text=While%20white%20will%20continue%20to,and%20gray%20farmhouse%2Dstyle%20kitchens.

The 2023 Kitchen Design Trends We’re Eyeing Right Now From enhanced technology to bold colors and more multifunctional spaces, here are 6 kitchen trends for 2023 that we already have our eyes on.

This will likely affect rental property values that do not have parking available with the unit and are located near a shopping district.

Parking is about to get a lot more expensive in SF. Here's why. Parking meter hours are being extended in San Francisco as its transit agency is expected...

It’s only 11am and I have visited SIX properties already, thanks to good parking kharma!!!!

https://www.cbsnews.com/sanfrancisco/news/oakland-landlord-tenant-eviction-moratorium-no-rent-back-pay/

Oakland landlord stands to lose everything after tenant fails to pay rent for 3 years Oakland is one of the last cities in the Bay Area hanging on to its eviction moratorium, which was introduced during the pandemic to protect tenants from eviction.

This just seems wrong. I am fine with providing protections to tenants on the verge of eviction due to the pandemic however, they need to offer something to the owners to compensate them for missing rent.
Many, of our clients depend on rental income, to survive, and use the income to pay their mortgage.

If the city wants to extend these protections, perhaps they should compensate Landlords themselves for missing rent payments… sigh

S.F. supervisor wants city to extend moratorium on evictions California's eviction moratorium has already expired but, in San Francisco, a supervisor has a plan to help city tenants still recovering from the pandemic e...

We haven’t posted here in a while. We’ve been busy. Since March 1, we have had over 40 notices of a vacancy. I say our market is shifting!

Rentalsinsf.com Available now!
Spectacular, renovated three bedroom, two bathroom located in Mission. Brand new kitchen cabinets with quartz counters and stainless steel appliances. Two renovated bathrooms with stand up showers. Private laundry in unit!

Unit Features
- Updated unit
- Three bedrooms
- Two bathrooms
- Nice bright unit
- Wood floors
- Laundry in unit
- Updated kitchen with stainless steel appliances

Rentalsinsf.com If you are looking for a spacious home in the central Richmond district that’s been totally remodeled and is only one block from prestigious Sea Cliff — look no further! This lovely, two story home boasts 2200 square feet of living area with 3 bedrooms, 2.5 bathrooms. The kitchen is completely updated with state of the art stainless steel appliances, all new cabinetry and plenty of gorgeous countertops. The original wood floors have been lovingly restored and hypoallergenic carpeting has been install throughout the second floor. the house is freshly painted and there is a large, private backyard. There is a single car garage, and easy access to both California and Geary St bus lines. Beaches, restaurants, coffee shops, parks, Land’s End, and shopping are all just a short walk away as well as a choice of excellent schools.

Two bedrooms, Two bathrooms located at 1 Hawthorne. Light-filled & well-maintained unit featuring an efficient floor plan with beautiful warm hardwood floors. Large open living/dining room combination with big windows. Updated kitchen with Bosch stainless steel appliances ( Gas range, microwave, refrigerator and dishwasher), quartz countertops and white cabinetry. In unit washer & dryer.

24 hours valet parking & concierge assistance plus an on-site management, HOA amenities include a professional quality gym & panoramic rooftop deck with a BBQ area, Walking distance to several well-known restaurants/cafes and shopping, Next to SFMoMa, Easy access to freeways and all major transportations, museums & galleries Come and enjoy living in a boutique modern residence in the heart of San Francisco !!

KEY FEATURES
- Unit 19E
- 1243 sq ft
- 2 large bedrooms / 2 bathroom: One primary ensuite w/ soaking tub, shower stall and walk in closet
- Gorgeous brand new modern eat in kitchen
- Wood floors throughout
- Open floor plan
- Laundry in unit

Located at One Hawthorne, this amazing 1 BD + Den, 1 BA condo is available to lease with a spacious 849 sqft.(approx) floor plan, a balcony, and access to a rooftop garden/BBQ area with stunning views, fitness center, 24-hour concierge, on-site management and valet parking.
This highly desirable floor plan consists of an open plan living/dining room with hardwood flooring, a designer-inspired kitchen with chef-grade stainless steel appliances, a master suite with a large walk-in closet, and a flexible den space.
Convenient downtown location connects you to major local and regional transportation, and is close to Yerba Buena Park, the SF MOMA, Union Square shopping, and some of the cities best dining and nightlife.

KEY FEATURES
- Unit 4G
- Approx 849 sq ft
- 1 large bedroom / 1 bathroom / Plus office and private patio
- Bathtub and shower combination
- Gorgeous new modern kitchen with kitchen island
- Wood floors throughout
- Living room/dining combo w/ direct access to private patio
- One car parking is available

Completely renovated four bedroom in SOMA. This unit has been redone with a spectacular eat-in kitchen ( new cabinets, appliances, countertops). Appliances include stainless steel refrigerator, gas range, microwave and dishwasher. Just off the kitchen there is a deck. Four spacious bedrooms and two renovated bathrooms.

Key Features:
- 4 bedrooms / 2 bathrooms / Plus back porch
- Gorgeous brand new modern eat in kitchen
- Wood floors throughout

Location:
- 984B Harrison St., San Francisco, CA 94107
- SOMA
- Near Wholefoods, parks, cafe's, restaurants, access to freeways and much more!

Completely renovated four bedroom in SOMA. This unit has been redone with a spectacular eat-in kitchen ( new cabinets, appliances, countertops). Appliances include stainless steel refrigerator, gas range, microwave and dishwasher. Just off the kitchen there is a deck. Four spacious bedrooms and two renovated bathrooms.

Key Features:
- 4 large bedrooms / 2 bathrooms / Plus back porch
- Gorgeous brand new modern eat in kitchen
- Wood floors throughout

Location:
- 984A Harrison St., San Francisco, CA 94107
- SOMA
- Near Wholefoods, parks, cafe's, restaurants, access to freeways and much more!

Asking Rents In SF Ticked Up This Year, But They're Still Well Below Pre-Pandemic Levels Renting an apartment in San Francisco remains slightly more affordable than it was three years ago, and a good bit cheaper than the high-water mark of 2015, but prices are on the rise.

Happy Holidays!!!!!

Spacious 1 Br, 1 Ba w/ Laundry & Shared Garden! - apts/housing for... PROPERTY INFO ID: 172724622 Rent: $2,995 / Month Beds: 1 Bath: 1 Available Date: NOW! Pet: Cats Allowed Located just blocks from the Divisadero Corridors, this beautiful and immaculate, cat-friendly...

Lots of new listings coming up. It’s 10:44 and I’ve been to four brand new properties already!

More to come!