New Ordinance Amendments Regarding General Obligation Bond Passthroughs The SF Tenants Union helped pass legislation to close a loophole landlords had been exploiting to unfairly raise rents. The way General Obligation Bond Passthroughs are calculated has subsequently changed. In addition, Tenant Financial Hardship Applications used to only apply to some of the Passthrough. Now,…
New Interest Rate for Security Deposits Effective 3/1/24 The rate of interest owed on deposits for the period March 1, 2024 through February 28, 2025 is 5.2%. The rate of interest owed on deposits for the period March 1, 2023 through February 29, 2024 is 2.3%. Security deposits can sometimes be described as “move-in fees,”…
Mayor Proposes Plan for Easier Demolition of Rent Controlled Housing The “Constraint Reduction” legislation is sponsored by Mayor Breed, Joel Engardio, and Matt Dorsey. The legislation is being sold as a way to speed up housing production by eliminating planning staff review to make many permits automatic with no public objection allowed. It streamlines demolition…
Unlicensed Landlords and Rent Increases Residential property owners were required to report information about their units into San Francisco’s Housing Inventory by March 1, 2023. Property owners who report that a unit is tenant-occupied will receive a rent increase “license” that allows them to impose annual allowable and banked rent increases. Landlords who have not…