The San Diego Union-Tribune declares that eviction filings are 50% higher today than before the pandemic. The root cause is that rental prices are rising, making living costs less affordable for many.
Eviction protection laws have changed dramatically in recent months. This makes matters more complex for San Diego real estate investors.
Renters have rights; you must know the law to avoid making costly mistakes. You can save yourself from a tremendous hassle, too. Please leave these matters to experienced property managers.
Here are the newest developments around eviction protection laws for San Diego residents.
1. What Is the New Eviction Protection Law for San Diego
The San Diego City Council enacted new legislation to provide stricter protection for renters. As of April 25, 2023, eviction protection in San Diego means that a landlord must provide relocation assistance for no-fault evictions. This can cost two to three months of rent.
San Diego real estate investors previously experienced California's most lenient eviction protection laws. Now, it is the most advantageous for renters. Consider that California law calls for landlords of no-fault evictions to pay one month of rent. However, San Diego now demands that a landlord pay two months of rent unless your renter is over 62 years old or disabled, which would call for three months.
Another reason San Diego is stricter is that California's eviction protection only begins after 12 months of the tenancy. Meanwhile, San Diego takes into effect on day one of a residence.
2. Why Changes Were Made
It is designed for the accountability of bad landlords. Hiring experienced property managers who understand the law and will not violate tenant protection laws is best.
Unfortunately, some landlords remove their tenants for minor renovations and then re-rent their property at higher rates. While it protects tenants in situations like this, other adverse effects will be significant for real estate in San Diego.
3. What Are the Disadvantages
Many landlords worry about the implications of the new legislation. While these laws seem to target larger San Diego real estate companies, they will still affect small and seasonal landlords, which account for most rental properties.
However, many landlords with smaller real estate investments may give up avoiding this scenario. If there are fewer units to rent, then rental prices can skyrocket. Before selling your real estate in San Diego for fear of eviction protection measures, consult a professional property management firm to help you navigate today's laws and protect your rights as a landlord.
Experts in San Diego Property Management
Being a San Diego real estate investor has its perks. To reap the benefits, you must invest more than money. It would help if you had time, effort, and tenant/ landlord relationship knowledge.
Harland Property Management understands the frustrations you experience, and they offer comprehensive services to ensure peace of mind and success with your investment. From marketing to accounting to maintenance, we manage it all. You do not need to worry about the new eviction protection laws because we will take care of that, too.
Contact the experts at Harland Property Management today for a free consultation.