REAA members – Due to guidance from CA public health experts, this class is on hold. We apologize to those that have signed up early for the class, but you will be refunded in total. We hope once things have settled, we will have Denis up to get us up to speed on rent control.
State Rent Control: The New State Law that can have an impact on rental properties ranging from Single Family Residences and Condominiums through multi-unit apartment buildings.
Rent Control- A New State Law
In California, rent control has been a local jurisdiction issue, typically approved by a city’s or county’s voters. Beginning in 2020, there will be a state-wide rent control ordinance that will cover all jurisdictions not currently affected by local rent control and can also impact those
jurisdictions with existing rent control ordinances. This is a significant change that has a direct impact on the evaluation and analysis of residential (one-unit and multi-unit) rental properties. Denis DeSaix, MAI, SRA, will provide an overview of the new law and the potential impact it will have in appraising residential rental properties. Points of discussion will include:
- An overview of the new regulations
- What’s exempt and what’s not
- How a market with existing rent control can be affected
- Valuing a rent-controlled property
- Analyzing Physical Characteristics vs. Economic Characteristics
- Understand the relationship between GRMs/Cap Rates and Market or Below Market Rents
- 1-4 unit appraisal impact of rent control- it does matter!
Whether you are a commercial or residential appraiser, the new rent control laws will affect your appraisal analysis if the property is an apartment building, a 2-4 residential income property, and possibly a SFR or Condominium rental property. Come join us for this informative presentation and be prepared as this new law takes effect.
Our instructor is Denis DeSaix, MAI, SRA. Denis has over 25 years of appraisal experience and is a Principal and Chief Appraiser at Metrocal Appraisal located in the San Francisco Bay Area. Valuation services include commercial and residential property appraisals, consulting and expert witness services. Denis is also a contract commercial and residential reviewer for several community banks. Denis DeSaix holds the MAI and SRA designations awarded by the Appraisal Institute. He has been published in Appraisal Today magazine and quoted by the San Francisco Chronical and Valuation Magazine. Denis is a past President of the East Bay Chapter of the Real Estate Appraiser Association and an active CE instructor for that organization. He co-authored a study funded by PG&E and sponsored by Built It Green on the value impact of green certified homes and the valuation challenges such properties present. Denis develops and teaches appraisal continuing education classes, and is proud to have served as a United States Marine.
This class is approved for two hours of continuing education by the California Bureau of Real Estate Appraisers (approval# 19CP986603109). You must have a free account on the REAA website to receiving continuing education credit.
Cost of the class is $30 for members/$60 for non-members and includes dinner at the Dante Club.
4:30 to 5:30 Chapter board meeting
5:30 to 6:30 Networking and sign in
6:30 to 7:00 Announcements and dinner
7:00 to 9:00 The Class
Online registration closes on Friday, May 29 at 5PM. Please register online if you plan to attend so we can order the right number of meals.