ACTION Apartment Association

Prices Climb, Turnover Persists for Rent-Controlled Units, Report Finds

04/27/2023 10:57 AM | Margaret Fulton (Administrator)

"The forces that suppressed the market in recent years seem to have ended," the report said. "One factor may have been the unusually high number of units rented in 2021 (3,693 units), resulting in fewer units available for rent in 2022.

"The number of new tenancies established and registered with the Agency in 2022 (2,139 units) was the lowest in recent years. Market demand and a relatively lower number of units offered for rent may have fueled the rise in initial rents."

California lawmakers want to know why billions in spending isn’t reducing homelessness

04/18/2023 9:03 AM | Margaret Fulton (Administrator)

The state has stepped up its involvement and investment in the crisis under Gov. Gavin Newsom’s leadership, allocating $20.6 billion toward housing and homelessness since 2018-19, according to the Legislative Analyst’s Office. But despite the influx of cash, during that time, the number of unhoused people in the state has increased by nearly a third — to more than 170,000 as of last year.

That discrepancy between what’s being spent in Sacramento and what voters see — tent cities in their neighborhoods — has many legislators clamoring for an accounting. They have instructed the state auditor to embark on a sweeping project that will analyze multiple state homelessness programs — as well as focus on homelessness spending in two cities — in an attempt to improve California’s response.

WS Communities Unveils ‘The Santa Monica Six’

04/17/2023 8:42 AM | Margaret Fulton (Administrator)

Development firm WS Communities (WSC) made waves in California last year when it utilized the little-known legal provision called “builder’s remedy” to file over a dozen project applications in Santa Monica as reported by The Real Deal.com. Now, WSC has collated a portfolio of six of those projects, collectively called “The Santa Monica Six.” These projects total 2,930 units spread out over 1.45 million square feet, and cover five and a half acres, making it a significant collection of development properties for the state of California.

Santa Monica has an 8% vacancy rate

04/15/2023 3:43 PM | Margaret Fulton (Administrator)

According to Apartmentlist.com, Santa Monica has the third highest vacancy rate among California areas it tracks.

State utility bills may see a change with a fixed-rate based on income

04/15/2023 10:42 AM | Margaret Fulton (Administrator)

PG&E, Southern California Edison and San Diego Gas & Electric filed a joint proposal with the state Public Utilities Commission seeking to add a fixed monthly charge for services, based on household income levels.

Santa Monica Business and Property Owners Taking Steps to Secede from Downtown Santa Monica Inc

04/12/2023 8:58 AM | Margaret Fulton (Administrator)

Tenants and landlords of the area have long complained that DTSM charges high fees but produces poor results

Citing out-of-touch leadership and mismanagement of funds, 54 business and property owners on the Third Street Promenade have hired an attorney to create their own business district, apart from Downtown Santa Monica Inc, with no city government participation.

Over Half of Short-Term Rentals Advertised in LA Don’t Comply

04/11/2023 9:24 AM | Margaret Fulton (Administrator)

Better Neighbors LA report highlights the inadequacies of enforcement measures for short-term rentals in Los Angeles, calling for increased regulation

Spotlighting the 16 Builder’s Remedy projects

04/10/2023 9:45 AM | Margaret Fulton (Administrator)

SMDP is continuing its coverage of the Builder’s Remedy projects with an ongoing series focusing on each project. Here, you’ll find the rundown on the only 100% affordable project among the applicants along with some background information on the city’s overall housing stock.

New bidder emerges for the Civic Auditorium site

04/10/2023 9:38 AM | Margaret Fulton (Administrator)

The Santa Monica Malibu Unified School District professed a desire to purchase the property earlier this year but a secret admirer has emerged with Community Corporation of Santa Monica also entering the negotiation process.

L.A. County's eviction moratorium has expired. What does that mean for renters?

04/10/2023 9:32 AM | Margaret Fulton (Administrator)

Here we try and answer some common questions about the changing rules and about what tenants facing eviction can do. This article focuses on tenants who have fallen behind on rent. But some of the new rules adopted since the pandemic also cover rent increases, relocation assistance and other issues.