The County of Los Angeles Board of Supervisors has implemented a Temporary Rent Stabilization Ordinance for eligible rental units in the unincorporated areas of Los Angeles County. Rent stabilization is a local law that establishes limits on rent increases and extends eviction protections. The ordinance will go into effect on December 20, 2018. Here’s what it means for property owners according to the LA County DCBA website: An annual cap of 3 percent on rent increases; Rent increases must be based on the legal “base rent” a renter was paying on September 11, 2018; If you believe you are not receiving a fair return on your property, a process is in place for you to request to increase rent above the annual cap; You may only evict renters for specific “just cause” reasons; If you own 50 or fewer rental units, you are able to pass additional costs associated with the Measure W parcel tax to renters (approved by voters in the November 2018 election); The County ordinance voids rent increases over 3 percent in effect after September 11, 2018. If your renter already paid a rent increase over 3 percent, you must return the overpayment. You may either pay this back in one lump sum or issue a credit against future rent due over a six-month period. The temporary ordinance will be in effect for 180 days from its effective date of December 20, 2018. The Board of Supervisors can extend the temporary ordinance, as necessary, or vote to replace it with a permanent ordinance. Single-family homes, condominiums, and some apartments are not eligible rental units. For more information, visit rent.lacounty.gov
The TCAC 2019 Excel application for 4% non-competitive projects is available on the TCAC website: http://www.treasurer.ca.gov/ctcac/2019/application/index.asp. This Excel document can be used either for a joint CDLAC-TCAC application as Attachment 40 or for a 4% application with a separate CDLAC application. This Excel document is not yet available within the CDLAC online application but will be shortly; a separate notice will be sent when that process is complete. The 2019 Attachments will be available on the TCAC website after January 2, 2019. The 9% competitive and 4% competitive Excel applications are currently being revised. Staff expects these to be available in January. TCAC will send a subsequent notice when these applications are available. For general application questions contact the appropriate regional analyst: http://www.treasurer.ca.gov/ctcac/assignments.asp. For technical questions or issues related to the Excel application please contact Diane SooHoo at: firstname.lastname@example.org
Government Shutdown: HUD is currently operating under a Contingency Plan. The Contingency Plan calls for “excepted employees” to perform necessary functions. These include processing “Closings on Projects with Firm Commitments that have a scheduled closing during the shutdown period; Closings on final Endorsements that have critical external deadlines; Make payments under Section 8 contracts, rent supplement contracts, Section 236, agreements, Project Rental Assistance Contracts (PRAC) on an as needed basis to ensure ongoing viability of assets and preservation of affordable housing. Payments will be contingent on budget authority being available from prior year appropriations or recaptures. Payments may require processing Section 8 and PRAC renewals for expiring contracts and processing amendment funds for non-expiring Section 8 contract renewals”. Since payments on assistance contracts is contingent on sufficient carryover funding, it is recommended that you check for the appropriate deposits. Currently “excepted staff” is also required to process HAP funding for the Section 8 Housing Choice Voucher program so these payments should remain timely. The full Contingency Plan may be viewed at https://www.hud.gov/sites/documents/HUDCONTINGENCYPLANFINAL.PDF.