California Rent Control - New Changes for Residential Income Analysis

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Notes

Rent Control- A new State Law

In California, rent control has been a local jurisdiction issue, typically approved by a city’s or county’s voters.  Beginning in 2020, there will be a state-wide rent control ordinance that will cover all jurisdctions not currently affected by local rent control and can also impact those jurisdictions with existing rent control ordinances.  This is a significant change that has a direct impact on the evaluation and analysis of residential (one-unit and multi-unit) rental properties.   Denis DeSaix, MAI, SRA, will provide an overview of the new law and the potential impact it will have in appraising residential rental properties.  Points of discussion will include:

·         An overview of the new regulations

·         What’s exempt and what’s not

·         How a market with existing rent control can be affected

·         Valuing a rent-controlled property

·         Analyzing Physical Characteristics vs. Economic Characteristics

·         Understand the relationship between GRMs/Cap Rates and Market or Below Market Rents

·         1-4 unit appraisal impact of rent control- it does matter!

Whether you are a commercial or residential appraiser, the new rent control laws will affect your appraisal analysis if the property is an apartment building, a 2-4 residential income property, and possibly a SFR or Condominium rental property.  Come join us for this informative presentatoin and be prepared as this new law takes effect.

Cancellation Policy

Up To 15 days prior to program start date, $15.00 cancellation fee.

    2 - 14 days prior to program start date, $30.00 cancellation fee.

    Less than 2 days prior to program start date, forfeit of payment.

Additional Information

Zoom Log in information will be emailed out on 11/10/2020

Class starts at 1:00 PM 

Zoom log in will be available at 12:30 PM 

2 Hours of BREA Pending Approval 

Photo Verification: REQUIRED
As part of the required attendance monitoring, all students need to provide the Chapter Office with a copy of your Driver's License in advance of the offering. 

• Simply take a picture of your DL with your phone or send a scanned copy to lianna@sccai.org
• Registrants who have not yet forwarded their photo IDs will be ineligible for credit and will be prohibited from attending the seminar

Required Equipment

It is the student's responsibility to have the required equipment - dependable Internet access, computer, webcam and microphone.  As noted in the material section below, some registrants who opt not to print out the seminar materials may find a secondary device (Ipad, cell phone, laptop or desktop computer) helpful during instruction. 

• A webcam is required.  The instructor and/or session monitor must be able to see each of the students and verify that they have access to the seminar materials throughout the presentation.  If you do not have a camera on your computer, they are available at BestBuy and other online retailers starting at around $30.
   
• Webcams must remain on throughout the offering.  Those who turn off their webcams jeopardize receipt of CE credit.  No camera = no credit.
   
• Joining the offering with a cell phone is not recommended as these devices often lead to connection problems.  Cell phones are better utilized solely as a secondary devise.
   
• Students must be able to see and be seen. They must be able to view the instructor's PowerPoint, and follow along in handbook all at the same time, while the instructor sees them.

Disclaimer Information

ENROLLMENT

Enrollment is on a first-come, first served basis. If the event is filled, a waiting list will be retained. The Southern California Chapter reserves the rights to cancel, limit, or reschedule this event if the minimum enrollment level is not reached, and to change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations. There are NO transfers; you must cancel out of the offering.

ATTENDANCE

The Appraisal Institute enforces attendance requirements mandated by state licensing and certification regulatory agencies. The Appraisal Institute issues certificates for state certification/licensing or state continuing education credit that verify successful completion and attendance of 100%, with your grade notification letter for courses, or at the conclusion of seminars. One hundred percent (100%) attendance is required for all Appraisal Institute education programs. This follows Appraiser Qualification Board minimum criteria requirements.

National Disclaimer

This Educational Program was developed by an outside party. The Appraisal Institute Chapter made arrangements for the Third-Party to offer the Program with the intent of addressing topic(s) based on a certain chapter or local need for such topic, solely educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program and does not endorse the Program or its content.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The Appraisal Institute does not publish examination review materials. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.