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each year until the case is settled.
MORE STATE RENTAL RELIEF FUNDING MAY BE FORTHCOMING?
According to our sources within the California Housing and Community Development Department, the U.S. Department of Treasury has set November 30, 2021, as the date in which California (and other states) are being given the first opportunity to request reallocated money from other states. As reported in several previous communications, California was allocated $5.4 billion in rental relief funds to assist qualified renters with paying rental debt obligations incurred due to financial impacts associated with the pandemic.
Overall, approximately $46 billion in Federal funding has been provided for rental relief programs throughout the U.S., but so far, only $27 billion has been committed potentially leaving approximately $19 billion available for re-allocation among other jurisdictions. States such as Montana and North Dakota, for example, each hold unused funds totaling approximately $180 million, which funds are likely to be re-allocated elsewhere.
We have learned that California is requesting $1.9 billion in additional rental assistance funding. Other states such as Texas is requesting $1.0 billion in additional rental relief funds and New York is requesting an additional $0.9 billion.
This additional rental relief funding would be made available for state-run programs only and would not be allocated to local jurisdictions (City or County). Local jurisdictions would need to apply on their own for additional funding from re-allocated rental relief funds.
JLS PALMS REAL ESTATE OFFERS FREE ELECTRIC VEHICLE (E.V.) CHARGING STATIONS TO PROPERTY OWNERS
JLS Palms Real Estate, a
Los Angeles based real
estate investment and
property management
company, has contracted with a Los Angeles based company which installs Electrical Vehicle (E.V.) chargers for free to property owners. The company states that it will take care of all paperwork, permitting, hardware, software, wiring, conduit, and
electrical breaker changes for property owners.
Installing E.V. chargers add a free amenity at multifamily rental properties and may be the deciding factor in leasing to a good renter when filling a vacancy. E.V. adoption is set to explode in the coming years as gas prices are at all-time highs, environmental awareness grows, and more and more drivers make the switch. Federal, state, and local financial incentives can add up to tens of thousands of dollars, and in some cases up to $17,000, off the purchase of a new E.V. The company advises that current rebates to install chargers will not last forever, and in fact, many are being reduced and phased out soon.
Currently, free E.V. chargers are being offered to customers of the Los Angeles Department of Water and Power (L.A. DWP), and beginning next year, JLS Palms Real Estate expects that similar incentives will be available for Southern California Edison customers in Los Angeles, Riverside, Orange, and San Bernardino Counties.
JLS Palms Real Estate will help qualified rental property owners obtain and install free E.V. chargers at their properties. These free, E.V. chargers are amenities that generate cash! Residents pay for the use of the E.V. chargers via a mobile app and property owners have the leeway to set the rates. For additional information, contact Jonathan at JLS Palms Real Estate at (424) 326-3120 or visit their website at www.jlspalms.com/ev-chargers.
THE “ORANGE CURTAIN” IS PIERCED – SANTA ANA ENACTS RENT CONTROL
During its September 22, 2021, meeting, the Santa Ana City Council approved an ordinance to establish rent control and eviction protections within the city. The approval by the seven-person City Council followed many hours of testimony from over 100 residents. The City Council voted 4-to-3 to approve the ordinance for the benefit the majority-renter community residing in Santa Ana.
Under the ordinance, rent increases are limited to just 3% annually or 80% of inflation, whichever is less, for buildings built before 1995 and for mobile home parks established before 1990. The ordinance also includes just cause eviction rules which limit the circumstances under which a housing provider may evict a renter who has lived in the property for at least 30 days. Additionally, the ordinance provides an allocation of pandemic relief money towards creating an “eviction defense fund”
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