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Requirements for New & Renewed Rental Agreements under AB 1482

For many rental housing providers, July 1, 2020, is an important date as there will be additional notice requirements in new and renewed rental agreements under California’s Tenant Protection Act (AB 1482).

The below information was shared by our colleagues at the Law Offices of Todd Rothbard and outlines the requirements in more detail. We thought our readers would find this information useful.

July 1, 2020 marks an important deadline for a few requirements of the 2020 Tenant Protection Act:

  1. Owners of single-family homes are required, beginning on July 1, 2020, to include the exemption language in each new lease and lease renewal.  If they do not, then their property is NOT exempt.  The required exemption language is included in the attached addendum

  2. Owners of units that are subject to the law, beginning on July 1, 2020, must include a statement that the tenancy is subject to the law in each lease and lease renewal.  The required language is included in the attached addendum.  For leases entered into prior to July 1, 2020, the exemption must be giving to each tenant that is subject to the law, either as an addendum (which they sign) or as a notice (which they are not required to sign), on or before August 1, 2020

  3. In order for an owner to have the right to terminate a tenancy so they or their family can move into a unit, a clause indicating the right to do so must be in each lease and lease renewal beginning on July 1, 2020.

Owners may use the attached addendum to comply or may include the required language in your lease directly.

Paul Getty

Paul M. Getty is one of the most experienced 1031 exchange specialists in the United States, with a career in real estate that spans over 35 years and more than $5 billion in commercial transactions across every major asset class. His work covers single-family rentals, apartments, retail, office, multifamily, and student and senior housing, giving him a practical understanding of how different property types perform across market cycles and how investors can move between them using tax-deferred exchange strategies. As President and CEO of FGG1031 | First Guardian Group, Paul advises investors through the full 1031 exchange process, from identifying qualifying replacement properties to structuring acquisitions through Delaware Statutory Trusts (DSTs) and wholly owned real estate. His guidance covers both the compliance requirements of a valid exchange and the investment decisions that determine long-term portfolio outcomes – a combination that is difficult to find in a single advisor. Paul holds a California and Texas real estate broker license and carries Series 22, 62, 63, and 82 securities licenses as a registered representative with Emerson Equity LLC, member FINRA /SIPC. He has represented buyers and sellers across complex commercial transactions, sourced and structured debt and equity, and worked alongside nationally recognized firms including Marcus Millichap, CBRE, JP Morgan, and Morgan Stanley. Before founding FGG1031, he co-founded Venture Navigation, a boutique investment banking firm whose M&A and IPO activity generated over $700 million in investor returns. Paul holds an MBA in Finance from the University of Michigan and a bachelor’s degree in chemistry from Wayne State University. He has also completed coursework in artificial intelligence at Stanford University. He is the author of four books on real estate investing and tax deferral strategy, including Tax Deferral Strategies Utilizing the Delaware Statutory Trust (DST) and Real Estate Investing in the New Era, both available on Amazon. A frequent speaker on 1031 exchanges, DST investing, and real estate tax strategy, Paul Getty is a recognized voice for investors and advisors seeking guidance on capital preservation through tax-deferred real estate investment.

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