August 2018

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It is almost time for Trade Show and we are hot on the heels of a great event. Have you submitted your nominations for the 23rd Annual Saluting Our Stars Regional Awards Breakfast yet? This is the best time to honor maintenance staff, property managers, regionals, vendors and properties to recognize them for all the work that they do for this industry.

I want to thank the Apartment Association of Greater Los Angeles, National Association of Residential Property Managers, Santa Barbara Rental Property Association, and the Long Beach Commercial Real Estate Council for participating in the Regional Awards event. We are expecting record nominations, but we can’t consider yours unless we receive your form and video. It’s a great way to say thank you to those who support our industry.

I also want to acknowledge and thank California Safety Agency, our Trade Show Kentucky Derby Sponsor! Their continued support over the years is greatly appreciated.

For those who attended the annual Summer Social, what a great way to enjoy the afternoon. As usual, we had great attendance and even more of you came out to meet our vendors and members at the Maya Hotel. A special thanks to our sponsors Jim’s Floor Covering, McCarthy Roofing, V&S Carpet & Cleaning, Chase Multifamily Lending, PPG Paints, and BMS CAT. We will share the pictures in next month’s Apartment Journal.

On the educational front, we are starting our second and last round for the year of the NAA Certified Apartment Manager (CAM) Certification Course this month, so be sure to sign your staff up for this important course. Individual classes can also be taken—see you there!

Another important reminder is the issue of Costa-Hawkins Rental Housing Act and our fight to keep it firmly in place. If you have not attended a meeting about this very critical vote, please make sure you go to our website to stay informed about any upcoming meetings or information. AACSC is fighting hard on your behalf but we need every owner and operator to support this effort. This will forever devastate our industry so be sure you are educated about the negative impacts.

Here, again, are some of the important facts if the Costa-Hawkins Rental Housing Act were to be repealed:

• If passed, all types of housing may be subject to rent control, regardless of the year built.
• If passed, all protections against onerous rent control laws will be eliminated statewide.
Property owners will be at the mercy of local government and special interest groups.
• If passed, public employee pension funds, many of which are heavily invested in apartment buildings, will decline in value and unfunded pension liabilities will increase even more.
• If passed, vacancy decontrol will be eliminated, meaning that your local lawmakers and nonelected rent control boards can limit the amount of rent you can charge to new tenants after your old tenants move out.
• If passed, rent control can apply to condominiums and single-family homes, and not just to apartments.
• If passed, many more communities throughout California will be emboldened by rent control activists and special interest groups to pass laws that will severely restrict your property rights and the rent you can charge.
• If passed, the only way to repeal or amend the initiative will be through another voter initiative. That will take years at best. Your State Legislature is powerless when it comes to amending and appealing these new burdens that will be placed on property owners.
• If passed, hundreds of millions of your tax dollars are at stake. Any court actions to challenge its constitutionality will be paid by taxpayers. That’s you!
• If passed, property values will decline as owners of rental property will incur significant losses in revenue and will no longer be able to maintain their properties resulting in neighborhood blight. Lower property values steal badly needed property tax dollars that fund our schools and first responders.
• If passed, no new affordable housing units will be created, new housing construction will decline, and construction jobs and trades servicing the apartment industry will be negatively impacted.


Don’t let this happen, stay informed and vote NO in November.

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Apartment Association,

California Southern Cities
333 W. Broadway St., Suite 101
Long Beach, CA 90802
(562) 426-8341

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