Make a difference and support CAA Tri-County’s 24th Annual Charity Golf Tournament. Proceeds benefit the Housing Industry Foundation in its mission to prevent homelessness. Showcase your company as an industry leader and sign up today to sponsor and/or play at this sell-out event that draws more than 200 high-level rental industry executives. If you do not wish to golf, attend the exciting post-tournament networking reception/auction. Sponsors must be CAA Tri-County members in good standing through July 31 to participate. To attend What: CAA Tri-County’s 24th Annual Charity Golf Tournament When: Monday, July 15, 2013 Where: Los Altos Golf & Country… Read More
The San Jose City Council has approved a pilot program to allow rental property owners to self-certify their compliance with the city’s Multiple Housing Occupancy Permit requirements. This move, proposed by Vice Mayor Madison Nguyen, could save rental property owners time and money while allowing the city to focus its inspection efforts on those rental properties that truly pose safety issues to the occupants and the community. The pilot program was included in Mayor Chuck Reed’s 2013-14 budget this month and begins a process for Code Enforcement to work with CAA Tri-County to develop a program that will likely allow… Read More
Following the lead of other cities in the Silicon Valley, San Jose is considering a fee on new development to help pay for affordable housing. This article in the Silicon Valley Business Journal focuses on a San Jose City Council vote approving a “nexus study” on such a fee. Under California law, before a local jurisdiction can assess a development fee, it must establish a nexus, or “reasonable relationship,” between the purpose of the charge and the type of development proposed. Many jurisdictions have interpreted the word “reasonable” quite broadly, leading to fees that may not truly fulfill the nexus… Read More
After raising residential sewer rates last week, the city of San Carlos plans to re-evaluate how sewer bills are calculated for apartments. The City Council agreed to consider a new pricing model for multifamily housing after CAA Tri-County voiced objections over the current pricing structure, especially in light of rising rates. The rate is set to climb 67 percent over the next three years. The rate structure, however, does not account for the size of a residential dwelling or the impact on the sewer system. So, bills for single-family homes that house four people will continue to mirror those for… Read More
In California, fewer homes are for sale these days, and finding “for rent” signs can test a would-be tenant’s patience. The news media are taking notice of these realities — and the impacts they’re having on affordability. Both Forbes and the Huffington Post today published articles about the high cost of rental housing in California, and last week, the Sacramento Bee reported a steep decline in homes for sale. According to the Huffington Post piece, the Golden State has the least affordable rental housing on the mainland United States. The Post cites the National Low Income Housing Coalition’s annual report.… Read More
San Jose’s minimum wage increases from $8 to $10 next month — and apartment managers need to know how this will affect them. In addition to shelling out $2 more per hour, employers affected by Measure D will need to post – in a conspicuous place – notices of the wage increase by March 11. Click here to download the notice that needs posting in the workplace.
During a California Apartment Association event Thursday, a featured speaker predicted that growth in commercial construction will bring a corresponding need for new housing in the Silicon Valley. Larry Souza of the Johnson Souza Group offered that forecast during Tri-County’s annual economic and legislative summit, which nearly 200 members attended. The Silicon Valley Business Journal covered portions of Outlook 2013, including Souza’s comments. “My projections are we’ll reach the peak of the commercial real estate and business cycle by 2017 — and then probably be back in another recession,” he said, according to the Business Journal story. Souza’s presentation also… Read More