In California, a number of laws related to real estate apply in 2021. And, some are new. In fact, the laws, old or new impact landlords, buyers, sellers and renters alike. As a result, lots of reasons abound to know your CA real estate laws. Many of these laws protect buyers. Others ensure the rental supply expands.
Note: It’s good to know that California still has eviction protections in place, statewide. That means no evictions for anyone affected by coronavirus, through June 2021. Although, what are these laws that agents, landlords, renters and buyers should be most concerned?
Know Your CA Real Estate Laws in Play for 2021
Know your CA real estate laws starting with AB 3182. And, it has to do with Homeowner Association (HOA) rentals. In fact, it mandates that HOA’s must allow at least 25% of their properties to be rented. As a result, preventing any rentals or limiting them to very few is a thing of the past. Also, AB 3182 facilitates an increased level of rentals in the state. At the same time it applies to any type of HOA, including single family home communities. Another caveat of this law prevents HOA’s from making owners live there more than a year before renting. Although, HOA’s are still free to block short-term rentals.
The CA AB38 law requires that buyers know if they will be living in a high-risk fire area. And, that includes signing a document. The real estate agent provides it at closing. In fact, the seller must provide a list of things prone to wildfire damage about the property. Although, this law does not apply to homes built after 2010. As a result, buyers must have the info for pre-2010 homes. And, that includes what agents often call “fire hardening” advice.
There are several other laws significant to real estate, including SB 1079, AB 1885, AB 1482 and Proposition 19. And, if you are buying or selling, you should have an agent on your team that not only is an expert on real estate. You should have one that is an expert on CA real estate law, plus the market. In fact, in San Mateo County real estate, it’s easy to find those skills, and more in Carmen Miranda. Why not give her a call today?