Santa Monica Real Estate Report

* City Of Santa Monica Approves $5.7M Towards Income Housing Development
* City Council Passes Emergency Rental Increase Relief Ordinance
* Local Properties For Sale And Rent In Your Neighborhood!

See Video: https://smmirror.com/2022/09/city-of-santa-monica-approves-5-7m-towards-income-housing-development-santa-monica-real-estate-report-september-6th-2022/

Santa Monica City Council Approves Emergency Eviction Moratorium

09/03/2022 9:15 AM | Margaret Fulton (Administrator)

Council Also Approves Measure To Cap The General Adjustment At 3% On November Ballot

On August 23, The Santa Monica City Council approved an emergency ordinance allowing a temporary eviction moratorium to take effect immediately for rents due September 1, 2022, for residential tenants in rent-controlled units. The press release from the Santa Monica City Government said, “The moratorium is a measure to safeguard Santa Monica residents who may be unable to afford potential rent increases of up to 6% due to an increase in the maximum allowable rent (MAR) for rent-controlled housing.”

This eviction moratorium narrowly applies to tenants in rent-controlled housing who face eviction for nonpayment of rent due to COVID-19-related financial distress between September 1, 2022, and January 31, 2023. The eviction protection applies to those tenants whose rent will be increased by more than 3% starting in September 2022. The moratorium will not apply to an owner who agrees not to collect rent increases over 3% for the September rent.

Council candidates start picking-up endorsements

09/03/2022 9:14 AM | Margaret Fulton (Administrator)

Candidates for local offices are touting endorsements on a daily basis as they prepare for big fundraising pushes in advance of the heavy campaign work and a trio of council candidates are among the first beneficiaries of a significant union endorsement.

Firefighters Endorse Negrete, Melkonians, Tororis for Council

09/03/2022 9:13 AM | Margaret Fulton (Administrator)

"Armen Melkonians has proven his commitment to the city of Santa Monica through years of pro-resident activism," Bei said of the founder of the slow-growth online group.

School Board Slate Eyes Major Shake-Up

09/03/2022 8:49 AM | Margaret Fulton (Administrator)

For what may be the first time in at least two decades, an organized slate of four challengers from Santa Monica and Malibu will try to gain control of the School Board.

Named A Brighter Future (ABF), the four-member slate is composed of Santa Monica residents Angela DiGaetano, Esther Hickman and Miles Warner, and Malibu resident Stacy Rouse.

Local Landlords and Management Company Placed on Criminal Diversion

09/01/2022 10:27 AM | Margaret Fulton (Administrator)

On July 29, 2022, a judge for the California Superior Court placed defendants Adam Shekhter, MySuite, LLC., 1238 10th Street, LLC., and 1433 Euclid Street, LLC., on a 12-month diversion program in connection with misdemeanor criminal charges of tenant harassment, public nuisance, and zoning violations at apartment buildings in Santa Monica owned or managed by the defendants.

AND: https://www.smdp.com/defendants-in-criminal-tenant-harassment-case-could-end-prosecution-for-102000/220888

Rents Dip in Santa Monica After Slowly Inching Up

08/31/2022 8:49 AM | Margaret Fulton (Administrator)

After slowly rising over the past five months, rents in Santa Monica dipped in August by less than 1 percent, according to Apartment List's monthly rent report released Tuesday.

The 0.5 percent decrease came as rent growth nationwide began slowing for the season, with the median rent increasing 0.5 percent, after a 1.1 percent increase in July.

Paolo Velasco Hired As Santa Monica’s Equity and Inclusion Manager

08/31/2022 8:48 AM | Margaret Fulton (Administrator)

Per the press release from the City of Santa Monica’s Communication Officer, City Manager David White has selected Paolo Velasco to lead the City’s diversity, equity, and inclusion (DEI) initiatives as its Equity and Inclusion Manager. In this role, Velasco will strengthen a culture of equity and inclusion that builds on the significant progress the City has made over the last two years, through efforts by Equity and Inclusion Officers (EIOs) in every City department. He starts on September 19 with an annual salary of $155,580.

Rent Control Board race all but sewn up

08/29/2022 11:59 AM | Margaret Fulton (Administrator)

With three seats up for grabs in this November’s Santa Monica Rent Control Board election and three candidates qualifying for the ballot, the competition to determine who will administer the 43-year-old rent control program is all but decided.

SMa.r.t. Are you Surprised?

08/29/2022 11:49 AM | Margaret Fulton (Administrator)

Illusions have “protected” us

We have the illusion that we are protected by distance from grim climate-induced catastrophes elsewhere. “That’s over there, it doesn’t affect me” is a common sentiment. But, as the news cycle proves repeatedly, distance is no protection.