ReLISTO provides San Francisco a free calculator to determine the amount of security deposit interest due on funds held as security deposits. The calculator has been updated to reflect the upcoming March rate. The rate of interest owed on deposits for the period March 1, 2023 through February 29, 2024 is 2.3%. The rate of interest owed on deposits for the period March 1, 2022 through February 28, 2023 is 0.1%.
Landlords dread winter vacancies since there are fewer people seeking housing during this time of the year. Lets face it, there is a lot going on in December/January! Here in San Francisco, not only are people enjoying the holidays, many leave town to visit with family, vacation or go skiing. This phenomenon applies not only to prospective tenants but to landlords and property managers as well. Many plan their yearly vacations during the slow months. and as a result, turnarounds take longer, vacant properties will be held off the market (till the market gets better 🙂 ) or there will be fewer showings.
The fact that so many will keep their property off the market has become somewhat of a boon for us here at ReLISTO. There are still people who need a place to live but are searching in a much smaller pool of properties. We leverage this for our landlords and continue showing our properties throughout the holidays. The end result is a fully executed lease, happy tenant and happy landlord.
For the 2022 Holidays ReLISTO is open for business. Send us an email if you are in need of a qualified tenant for your vacancy or for year round property management services. We are here to serve.
Happy Holidays
Eric Baird
Lead Landlord Avocate
Please contact your Assembly Member today and urge them to vote NO on two bills that threaten your right to sell your property, exit the rental housing market or move into your own home.
The following bills are on the Assembly Floor: AB 2050 (by Assembly Member Alex Lee, D-San Jose) and AB 2386 (by Assembly Member Richard Bloom, D-Santa Monica).
AB 2050 by Lee would require property owners to wait five years after purchasing a rental property before they can either sell the property or move in. AB 2386 by Bloom, meanwhile, would allow cities and counties to regulate the way in which owners hold property after converting from rental property to ownership property.
In rent control cities, one of the most common ways – and typically the only way – that owners can hold multifamily property after converting it from a rental property to ownership housing is as tenancy in common. Owners can then move in, along with other family members or individuals, and can each occupy a unit as their own.
Click here to send a letter.
