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Home arrow Real Estate News arrow General News arrow Real Estate affected by Lawmakers’ choices

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Real Estate affected by Lawmakers’ choices
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Monday, 04 September 2006

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Creel and company were tracking 96 bills that could have an impact on the real estate industry either directly or indirectly. Lobbyists packed the state Capitol last week, crowding corridors as they squatted near the offices of legislators, hoping to appeal to their good senses.

"There's a lot of stuff this year that affects real estate," said Creel said.

Lawmakers worked to push through or kill the throngs of measures in both the Assembly and Senate. Bills involving local government, taxation, zoning, condominium associations and real estate licenses either met the approval of both houses and were either sent to the governor's desk or died on one house floor or another.

During a typical two-year session in which myriad bills are born and die, there are 1,200-plus pieces of legislation related in some way to real estate, Creel said.

Here are a few bills of interest:

AB 1169 - The bill requires a 60-day notice to terminate tenancy. The bill was passed and sent to Gov. Arnold Schwarzenegger and awaits his signature or veto.

The bill would reinstate the 60-day notice until 2010. Realtor associations oppose the bill because they say landlords need the ability to evict troublemaking tenants as soon as possible.

Proponents of the bill say it allows tenants more time to search for another place to live.

AB 2100 - The bill was passed and has already been signed by the governor. It requires homeowners associations to adopt an assessment schedule and assessment amounts necessary for the association's reserve account.

Proponents of  the legislation say it creates law that will ensure association members will be provided clear and concise information on how much they will have to pay for the association's special and regular assessment needs, such as repairs and replacements.

AB 2511 - The bill streamlines the permitting process and requires local governments to report to the state on their housing production to ensure they can accommodate their share of regional housing needs for the next five years.

It also enables developers to rely on the standards throughout the local government review process and not have the rules arbitrarily changed, according to authors of the bill, which was sent to the governor's desk on Thursday.

AB 2429 - The bill repeals the conditional sales licenses granted Realtors following the completion of a three-unit course.

Realtors have 18 months to complete two more courses, but during that time they can obtain a conditional license.

The bill was passed and sent to the governor's desk. If signed, agents must then complete all courses before getting a license.

The bill is a focus of industry watchers, because it will mean home buyers and sellers will be dealing with more knowledgeable agents, Creel said, adding, "We think the people coming into the business are not prepared."


Edwina Baniqued

 
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