2024 New Laws that Affect Real Estate
- nathaliaventurella
- Feb 13, 2024
- 3 min read
California Association of Realtors published in their website the 2024 new laws that affect real estate. Those laws definitely affect real estate agents, brokers, contractors and the public. If you want more details about them, I recommend you go to the C.A.R. website that I left above for your convenience. Here they are:
"Advertising: All mandatory fees must be disclosed in advertising goods and services.
Commercial Financing Disclosures: Commercial financing provider must disclose the cost of a commercial financing transaction as an annualized rate.
Disclosures: Environmental hazard booklet updated.
Disclosures: Flippers must disclose recent repairs and renovations.
Disclosures: NHD Statement specifically identifies fire hazard severity zones for defensible space and fire hardening disclosures.
Employment: Workplace Violence Prevention Plan required. Certain small employers may be exempt if they have an existing Injury and Illness Prevention Program (IIPP), the requirements of which are simplified for real estate offices (effective on July 1st, 2024).
Housing: ADUs may be sold separately from the primary unit as a condominium.
Housing: Makes permanent the existing prohibition on local government's ability to require owner occupancy on a parcel containing an Accessory Dwelling Unit (ADU).
Housing: HCD now responsible for providing notification of housing law violations in 13 additional categories of housing law.
Housing: Adds exclusions to the requirement that any publicly funded low rent housing project receive voter approval.
Housing: Increases the exemption limit for improvements otherwise subject to the California Coastal Act.
Housing: Limits the ability of developers to sell deed-restricted units intended for owner-occupancy to purchasers that would rent the unit.
Housing: Developments must be approved if consistent with general plan even if not consistent with local zoning ordinance.
Housing: Ministerial approval process under SB 35 is extended by 10 years to sunset in 2036 and expanded to apply to cities in coastal zones and also to cities without a compliant housing element per HCD.
Housing: Attorney General has unconditional right to intervene without court permission in lawsuits brought by third parties for alleged violations of state housing laws.
Housing: Ministerial approval of 10 or fewer unit developments.
Insurance: Extends the FAIR Plan to commercial property.
Landlord/Tenant: Right of disabled tenant in locally rent- controlled property to move to first floor unit at same rental rate.
Landlord/Tenant: Option to provide receipts for tenant screening fees by email when both landlord and tenant agree to it first.
Landlord/Tenant: Landlord must offer “ability to pay” in lieu of reliance on credit history and reports in assessing a tenant’s rental application when prospective tenant is receiving a government rent subsidy such as a Section 8 rental voucher
Landlord/Tenant: Tenants may keep bicycles, e-bikes and other “micromobility” transport devices in their units.
Landlord/Tenant: Prohibition on local government “crime free” housing programs and ordinances.
Landlord/Tenant: Security deposits limited to one month’s rent (effective on July 1st, 2024).
Landlord/Tenant: Tenant Protection Act: Tightens up requirements for no fault evictions; adds damages, penalties, attorney fees and enforcement mechanisms for violations.
Landlord/Tenant: Unbundled Parking Spaces for 16 unit apartments in specified counties.
Listing Agreements: Exclusive listing agreements cannot last longer than two years and cannot be recorded.
Noncompetition agreements are unenforceable no matter where written and are illegal to enter into. Damages can be claimed for entering into or attempting to enforce a void noncompetition agreement.
Noncompetition agreements: Any noncompete agreement in an employment context no matter how narrowly tailored is void.
Notaries: California notaries will be authorized to perform remote online notarization. Out of state online notaries are granted clear recognition.
Small Claims limit increased from $10,000 to $12,500 for natural persons among other limit increases.
Tax: Prop 19 clean-up: Applies Prop 19 to subsequent transfers of ownership interests in a mobile home park or floating home marina following tenant acquisition.
Trespassing – “no trespass” letters may be kept on file for up to one year.
Vacation rentals: Disclosure of all mandatory fees (effective on July 1st, 2024).
Vacation rentals: Right to cancel within 24 hours."
For more California Laws, click on: http://leginfo.legislature.ca.gov/
Nathalia Venturella
Realtor® | CalRE# 02124541
(858)275-3941 |nathaliaventurella@gmail.com
HomeSmart Realty West
300 Carlsbad Village Drive, Suite 217
Carlsbad, CA 92008
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