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Landlords, cross your fingers that job growth will keep fueling demand for apartments, especially in San Jose, where rent prices jumped 6.7 percent in the second quarter. That $134 rent spike followed a surge in San Jose’s workforce. Last year, the city added 34,200 jobs, with an estimated 27,500 more on the way, reports RealFacts, citing a study by Marcus & Millichap. Read this RealFacts article for the national perspective on rent growth, plus predictions on whether rent prices will continue climbing as more apartments come on line.

Tagged: Tri-County

The California State Legislature is finishing up its summer recess and will return in August to wrap up the first year of the 2013-14 Legislative sessions. To date, 2013 has been one of the most challenging Legislative sessions for the apartment industry in a decade. The California Apartment Association has actively lobbied on 75 bills to make certain that the industry is protected from over-reaching legislative proposals. Three measures in particular would have had far-reaching economic impacts on the industry but were successfully stopped or amended by CAA. Senate Bill 750 – Water sub-metering and RUBS The issue of ratio-utility… Read More

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The California Apartment Association’s Greater Inland Empire Division has endorsed Brian Johsz for the Chino Valley Fire District Board. Johsz was recently appointed to fill the vacancy on the Chino Valley Fire District when Ray Marquez was elected to the Chino Hills City Council this past March. Johsz hopes to maintain his position as director of the Chino Valley Fire District in an Aug. 27 consolidated, mail-in ballot election. “The Chino Valley Fire District Board is responsible for the oversight and protection of our members’ properties,” said Kelly Vickers, chairwoman of CAA-AAGIE’s Government Affairs Committee. “Mr. Johsz has a track… Read More

Tagged: Greater Inland Empire

E&S Ring Management has won approval to build a mixed-use development in Pleasanton that will boast nearly 350 apartment units and almost 40,000 square feet of retail. The approval can by the unanimous vote of the Planning Commission on July 10, according to this article in the Contra Costa Times. The development will stand on 16 acres at Stanley Boulevard and Bernal Avenue. “I’m thrilled we’re at this point,” Commission Chairwoman Jennifer Pearce said, according to The Times. “This is a great use for this site. The architect has stepped up, and it looks great.”    

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In the Silicon Valley, apartment rent prices jumped an average of $134 in the second quarter. “It shows there’s plenty of demand,” says Joshua Howard, executive director of the California Apartment Association’s Tri-County Division. “With the lack of homes available for sale, more people are renting. And with home prices going up, some consumers are figuring out it’s less expensive to make a rent payment.” For more specifics on average rents in the state’s top markets, check out this article in the Silicon Valley Business Journal. Despite high demand, occupancy dropped slightly in the Silicon Valley, something Howard attributes to… Read More

Tagged: Tri-County

Landlords, cross your fingers that job growth will keep fueling demand for apartments, especially in San Jose, where rent prices jumped 6.7 percent in the second quarter. That $134 rent spike followed a surge in San Jose’s workforce. Last year, the city added 34,200 jobs, with an estimated 27,500 more on the way, reports RealFacts, […]

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The San Diego U-T reports that despite rising rental prices, vacancies continue to shrink, a trend especially evident in the downtown area. The article also offers a forecast for demand — both single-family homes and rentals — construction and financing.

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The California Apartment Association and Vallejo Fire Department have extinguished some confusion over the city’s new Fire and Life Safety inspection program. After notifying property owners in mid-January that annual inspections would begin, the Vallejo Fire Department began the checkups on multifamily residences this past spring. The Vallejo Fire Department had not conducted fire inspections in more than 15 years, and most small-income property owners had no idea what to expect. Moreover, the Fire Department hadn’t told owners they could schedule and be present for the inspection. Instead, fire inspectors began arriving unannounced and listed violations in poor handwriting that… Read More

Tagged: Contra CostaSolano

California lawmakers this year introduced an array of bills that would lower the voting requirement to approve taxes for local infrastructure, schools, libraries, and the like. But the chances of these bills passing the Legislature – at least this year — are slim at best. That’s reassuring to the California Apartment Association and other business groups in a coalition that’s opposed the measures, which would amend the state Constitution and undermine Proposition 13. Each requires a two-thirds vote of the Legislature, and the support of voters, to become law. Senate President Pro Tem Darrell Steinberg has said lawmakers have bigger… Read More

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For a community to stamp out crime, it takes all kinds, from street cops to soccer coaches to neighborhood watch captains. They’re the pillars of crime suppression, intervention and prevention. These front-line crime-fighters need back-up, so to speak. Keeping criminals behind bars and at-risk youth on the right path costs money. And in Antioch, the City Council made the right move last month by asking voters to help raise the needed dollars. The California Apartment Association applauds the council’s unanimous vote to place a half-cent sales tax on the November ballot. This offers a community-wide opportunity to tackle a community-wide… Read More

Tagged: Contra Costa