ACTION ALERT | LANDLORD’S OPPOSE AB 828
Assembly Bill 828 is proposed legislation that will create further economic hardship for California Landlords. NOW is the time to oppose this bill before it is signed into law. We encourage you to review the bill and contact Assembly Member Phil Ting to express your opposition to this bill.
Contact Assembly Member Phil Ting at telephone number (916) 319-2019 or through his website at by CLICKING HERE.
LEGAL ALERT | CARES ACT MAY APPLY TO RESIDENTIAL TENANCIES
Effective March 25, 2020, the Federal Government enacted the “Coronavirus Aid, Relief, and Economic Security Act” known as the “CARES Act.” The CARES Act applies to residential tenancies if 1) you rent to federally subsidized tenants or receive a federal tax credit for the tenancy (i.e. Section 8), or 2) you have a federally backed mortgage on your rental property.
CLICK HERE: FULL TEXT CARE ACT (See Sections 4022, 4023, 4024)
Q: How do I know whether I have a federally backed mortgage?
You can check if your mortgage is federally backed by contacting your loan servicer or clicking on the links below:
LINK TO FREDDIE MAC LOAN LOOKUP | LINK TO FANNIE MAE LOAN LOOKUP
Q: What happens if the CARE act applies to me as a landlord?
The CARES Act creates an eviction moratorium for 120 days from March 25, 2020.
Q: What does the moratorium mean to residential landlords?
Residential landlords may not:
- File an eviction against a tenant for nonpayment of rent or other late fees or charges;
- Charge fees, penalties, or other charges to the tenant related to nonpayment of rent; or
- Serve your tenant with a notice to vacate until the moratorium is over.
Q: When does the moratorium end?
Approximately July 23, 2020 (120 days from March 25, 2020)
Q: My tenants cannot pay rent because of COVID-19. I have a federally backed mortgage and do not have the money to pay it without rental income. Does the CARES Act provide me any mortgage relief?
Yes, borrowers with Federally backed mortgage loans and multifamily Federally backed mortgage can request a forbearance. You must submit a request for forbearance to the loan’s servicer affirming that you are experiencing a financial hardship during the COVID–19 emergency.
Q: How long does the forbearance last?
For Federally backed mortgage loans on other residential property, the forbearance is for 180 days and can be extended for an additional 180 days.
For multifamily Federally backed mortgages the forbearance is for 30 days and can be extended two additional 30 days periods upon request to the servicer at least 15 days prior to the end of the current forbearance period. You can discontinue the forbearance at any time.
Q: I requested a forbearance on my multifamily Federally backed mortgage. Are there tenant protections while I am not paying the mortgage?
Yes, during the forbearance period you may not:
- File an eviction against a tenant for nonpayment of rent or other late fees or charges;
- Charge any late fees or other penalties related to late payment of rent; or
- Serve your tenant with a notice to vacate that expires within 30 days after the expiration of the forbearance.
This email it to provide general information that should not be considered legal advice. Our firm is ready and available to analyze your specific situation and provide you with guidance during this difficult time.