Portfolio Properties

Did you know...Evictions Can Proceed?

If your tenant fails to pay rent for April, or any month thereafter, a standard 3 Day Notice can be served. An eviction action can then be initiated, with some exceptions as noted below.

Under the COVID-19 Tenant Relief Act, all rent owed from October 1, 2021 through March 31, 2021 required the landlord to apply to the California Rental Assistance Payment Program. Under this program, an eviction action could be initiated 20 days after your application was filed with the program. If rent was paid by the State, the eviction action in most cases would be dismissed. If no funds were paid, the eviction action could proceed if there was a rejection of the landlord's application.

This now changes for rent owed as of April, 2022. The Rental Assistance Program does not extend passed March 31, 2022. On that basis, a standard 3 Day Notice to Pay Rent or Quit can be served. An eviction action can proceed, even if you have previously applied under the rent relief program. If rent is payable on the first, your 3 Day Notice can be served on April 2, 2022. There are some exceptions!

Los Angeles County has extended the moratorium through May 31, 2022. The ordinance requires that the tenant "Self Certify" the inability to pay rent was due to COVID-19. This must be accomplished within 7 days of the rental due date.

- Dennis P. Block & Associates, APC

Supreme Court Strikes Down Federal Eviction Ban

CoStar News - Supreme Court Strikes Down Federal Eviction Ban The U.S. Supreme Court has sided with landlord groups and struck down the Biden administration's latest extension of the federal eviction ban, ruling in a 6-3 unsigned decision that the Centers for Disease Control and Prevention had overstepped its authority.

Please join our very own Daniel Holt for a virtual panel discussion about Multifamily Investing in Central California on August 4th, 2021 at 10:30 am Pacific Time.

Topics to be Covered:
How has Covid changed demand for single-family housing and multifamily development in Central California?

What are the most active markets and opportunities for investors today?

What are the political risks from Sacramento or Washington DC (e.g., 1031 Exchange law changes, etc.)?

For sale housing vs. apartment rental

Build to rent SFR

To Register:
https://www.arixacapital.com/events-all/2021/08/04multifamilyinvestingcentralca

We specialize in commercial properties and multi-family investments. Actively seeking future development projects and ways to improve our community. If anyone would like more information on this listing, or any others, please reach out.

https://www.bakersfield.com/news/hodels-weigh-possibilities-including-affordable-housing-at-banquet-hall-lot-listed-for-sale/article_a890426e-666d-11eb-be90-d76801bcc477.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share&fbclid=IwAR1rcdH4ObY7kpZmqj8y20gBlmNOY4uO0mRx1VCddz_VhT6fsQois8f9twA

Hodels weigh possibilities including affordable housing at banquet-hall lot listed for sale When members of the Hodel family say they're "going fishing" by putting up a for-sale sign on the northern 2.99 acres of their Knudsen Drive campus, they mean just that.

https://www.globest.com/2020/11/11/los-angeles-rents-fall-nearly-7-since-march/?kw=Los%20Angeles%20Rents%20Fall%20Nearly%207%25%20Since%20March&utm_source=email&utm_medium=enl&utm_campaign=californiaalert&utm_content=20201111&utm_term=rem&slreturn=20201011163032

Los Angeles Rents Fall Nearly 7% Since March | GlobeSt Los Angeles isn’t among the cities with the highest rent decreases, but it is trending significantly above the national rent decrease of 1.4%.