Read the full post here.
Leno’s SB 364 mirrors last year’s SB 1439, which was approved by the Senate last year but fell one vote short in the Assembly Housing Committee.
On February 19th, the San Francisco Superior Court concurred with the recent Federal District Court decision, Levin v. CCSF, in invalidating the Campos Amendment to the San Francisco Rent Ordinance, in the case Jacoby, et al. v. CCSF. The Campos Amendment required additional relocation assistance to residents displaced by Ellis Act evictions in San Francisco.
The SF Examiner reports that Sinbad’s restaurant, a decades’ old waterfront icon, may soon serve its last shrimp cocktail. The restaurant’s landlord, the Port of San Francisco, is expecting the restaurant to vacate by March 21, 2015, as the San Francisco Bay Conservation and Development Commission plans to demolish Pier 2 that month, allowing construction to expand the ferry terminal in 2016.
That is, unless the Stinson brothers – the restaurant’s owners – are successful in evoking the “no harm, no foul” doctrine, to continue operating until the City breaks ground on construction.
Charles Stinson was also briefly involved in an attempt to reopen a restaurant in the San Francisco historical landmark, Julius Castle, at the top of Telegraph Hill. That effort resulted in, among other things, the decision Julius Castle Restaurant Inc. v. Payne (2013) 216 Cal.App.4th 1423, where the First District Court of Appeals analyzed fraud in the inducement of commercial lease agreements.
Beginning March 1, 2015, the new rate for interest on security deposits is 0.1%, for the period of March 1, 2015 to February 29, 2016.
Security deposit interest must be paid every year on the tenant’s “annual due date”. For tenancies beginning after September 1, 1983, the annual due date is the same day and month the landlord received the deposit from the tenant. If the tenant moved in and paid a deposit before September 1, 1983, interest was due on September 1, 1984 and every September 1st thereafter.
For more information, please visit the Rent Board website.
The new allowable rent increase rate for San Francisco rent controlled tenancies goes into effect on March 1, 2015. For rent increases between March 1, 2015 and February 29, 2016, the allowable increase is 1.9%.
For additional information, please visit the Rent Board website:
A landlord may increase the tenant’s base rent once every 12 months by the amount of the allowable annual rent increase without filing a petition at the Rent Board.
Effective March 1, 2015 through February 29, 2016, the allowable annual increase amount is 1.9%.
This amount is based on 60% of the increase in the Consumer Price Index for All Urban Consumers in the Bay Area, which was 3.2% as posted in November 2014 by the Bureau of Labor Statistics.
To calculate the dollar amount of the 1.9% annual rent increase, multiply the tenant’s base rent by .019. For example, if the tenant’s base rent is $1,500.00, the annual increase would be calculated as follows: $1,500.00 x .019 = $28.50. The tenant’s new base rent would be $1,528.50 ($1,500.00 + $28.50).
The San Francisco Chronicle Reports that a condo listing at 2701 Van Ness Ave #604 is offering a year of unlimited Uber rides in lieu of a parking spot. Embracing the “sharing economy”, wily realtors are expected to offer free unlimited bottled water delivery from Google Express for listed properties without functional plumbing.
SFist reports that Airbnb recently paid an undisclosed amount (believed to be $25 million) to the City of San Francisco for an assessed “hotel tax”. San Francisco recently passed an “Airbnb legitimacy law” (available here), allowing tenants to participate in the sharing economy as long as they follow the rules of the regulation (including limitations on number of days per year, registration with the Planning Department, carrying insurance, etc). A proposed amendment – requiring that Airbnb pay back taxes – failed to pass, but Airbnb nonetheless made good on the assessment.
PropertyShark.com put together an interesting map of changes in San Francisco median home prices, by neighborhood, over the past decade. Zoom in for changes in price per square foot. Surprisingly, some neighborhoods dropped in price (presumably within a wide margin of error).