AB832 and Its Impact to Landlords

Indeed a confusing period with the CA AB832. Yes we want to extend the tenant protection since many of them suffered losses from the Pandemic, and the AB832 is a great bill to offer government assistance. During the last whole year, many of the small landlord/buy n hold investors were hurting too. What started of being part of the retirement cash flow are either completely non-paying or under-paying. And they may have to file forbearance to get by. All of a sudden, it is an endless source of financial worries. Fortunately, AB832 covers these investors as well and it goes retroactively back to April 2020, and forward to 9/30/21. The only catch is, owner cannot apply on his/her own, need to apply along with the tenant.

Question arise in all sorts of situations which may be subject to interpretation and therefore very confusing on what is/isn’t allowed. Video has some possible moves landlord can make, but most are so tricky one would need legal advice to proceed. Safest is to wait till moratorium expires and then follow normal procedure. If that does not work for your situation, then seek legal advice. I can always be a good sounding board, but cannot provide legal advice.

To apply for assistance, along with your tenant, visit: https://housing.ca.gov/ (HousingIsKey website)

To see Governor Newsom announcement of AB832: https://www.gov.ca.gov/2021/06/28/governor-newsom-signs-nation-leading-rent-relief-program-for-low-income-tenants-eviction-moratorium-extension-additional-legislation/

To see AB832 bill text, see: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220AB832

And I always welcome your comment, like or subscription. Let me know what questions you have and I can chime in with what I know. Thx!

Michael.Chu@exprealty.com
Zen Realtor Serving Silicon Valley
Know anyone buying/selling/investing? Send them my way and I will reward you with a gift upon COE. (Or $1,000 donation to charity of your choice, in your name)

My Suspender Look – A Tribute To My Dad

Hi,

I have been wanting to do a tribute for my late dad for awhile, but needed to muster up some courage as well as fight my tendency of procrastination. But here it is. Even though it can be more complete and more polished, I had condensed his life into 8 minutes. I finally did at least one public tribute for him.

Please take some time to reflect on your important relationships, especially with your family. We came into this world with all of our karmic energy and people close to us travel through lives together. Let’s appreciate the karmic forces and continue to evolve into best self. We have both buddha in us and been made in the image of God. Let’s let it shine through.

Thank you for watching and,

God Bless

Introverted Naomi Osaka Takes A Break – What to Do if You Are An Introvert?

World champion Naomi Osaka refused to attend press conference at French Open, due to her anxiety and being an introvert. Well many of us are introvert and not as accomplished. How do we cope with the extrovert world, be successful and still find that inner peace? We all have the struggle to fit in, to be successful, and still can’t and don’t want to be like an extrovert. So it is important to find that balance of success/external world facing and inner peace/self fulfillment. May Naomi come back strong and may all of us find inner joy & happiness.

Among some of the suggestions I made, a friend of mine is teaching self care, you can find her info at: https://www.linkedin.com/in/riya-wang-7933a327

Finally, find all real estate related information at my website: MichaelChu.exprealty.com

FSBO Checklist

In this scorching hot real estate market, some sellers opt to do it themselves without hiring a pro. Main reason usually is to save the commission to the listing agent, but there could be other reasons. If the property is priced right and had sufficient exposure, and sellers’ expectations are in check, there is no reason the property will sit for too long. For the For Sale By Owner (FSBO) sellers, here is a small checklist to see if the property sale is on track.

Is your property on the market for more than 2 weeks?

No, keep the fsbo effort

Yes, a review of pricing, marketing, property condition and seller expectation may be necessary

Are you compensating buyers’ agents?

Are you relying only on Craigslist?  At least using a flat fee MLS listing service?

Do you know the comps in the immediate neighborhood?

Is your property vacant for showing?  How are you doing open house?

Do you have all the repairs done?  How about a current inspection report? How appealing does the property look?

Have you received/rejected any offers?  With focused marketing and showing, there will be buyer hype and if the property is a good property, it will generate multiple offers.

Have you estimated sellers’ net? are you familiar with all things that could go wrong in a close and how to remedy each? How about ranking offers and arranging for backup offers? Escalation clause and how/when to use it?

Do you have the next residence lined up?  Considered 1031 exchange?  

At what point would you consider using a full service realtor?

Is it OK to miss the selling window for the next year or two?

If seller goes through these questions and answer each of question honestly, that exercise can help to stay at the current course, or perhaps talk to agents who are great in helping out with all of the above, plus more. Either way, happy selling!

Cash Offer in SF Bay Area Explained

There are many benefits to a cash offer, but only for the right seller. Watch the video to find out the formula investor buyers uses to evaluate property, and what sellers may go through to either accept or reject the offer! Of course, use a realtor with good understanding of both sides to ensure entering and completing the purchase agreement!

India Fundraiser

The organizer, Trisha, is my friend’s daughter. AND this is a humane thing to do to help get oxygen into parts of India. Please help with anything you can! Thx. 

I forwarded the fundraiser to my contacts in LinkedIn, FaceBook, Twitter etc., since it follows what I think of ZenjiNet, helping others do good easily. Everyday, I look at the news and find many needs at different parts of the world and I pray/chant for helping to relieve the pain & suffering of the living, and sending the dead peacefully into their next destination. Let’s do our small part so it is a better place by just that much.

#india #donations

https://gofund.me/f009d6e4