What should you do as a property owner if the fence between your neighbor’s property is damaged? In 2014, the California Civil Code set guidelines for shared fences. If you decide to build a new fence without telling your neighbor, you cannot automatically expect them to pay for it. According to Code 654.1422, you must provide a written notification of the repair plans to the other involved party at least 30 days before any reconstruction takes place. This should include:

• An explanation of what needs to be done;
• A substantial justification of why it needs to happen;
• A detailed analysis of the neighbor’s expected responsibility, including measurements and costs as needed;
• The total anticipated cost of the replacement, with written documentation;
• The dollar amount that each party will pay; and
• The anticipated start date of the project (which should be at least 30 days from the date that the letter is delivered).

If the fence is down, a temporary solution may be necessary for those 30 days to maintain the safety of your property. However, when installing a permanent solution for the damaged fence, the Civil Code must be obeyed in order for the neighbor to help with payment.

Every year, PwC publishes a report of the latest developments in real estate around the world. Here is a summary of their latest findings about the market in the Bay Area in 2019:

• Focus groups in San Francisco, San Jose, and Oakland expressed concern about the lack of affordable housing, which could potentially limit future economic growth. 
• In San Francisco, there is concern about whether enough housing is available in general.
• Some believe that San Francisco’s Proposition M, which limited development after 1986, enabled both a commercial and a housing crunch. Now, the city may decide to lower some of those restrictions. 
• San Francisco is building new properties to meet the rapidly changing technology needs of tenants. 
• The burdens of regulation, high construction costs, and rising NIMBY (Not In My Back Yard) sentiment are significant issues in San Francisco and Oakland real estate.
• The implementation of new construction processes and the rise of urbanized suburban developments may be solutions for San Francisco, San Jose, and Oakland. 
• San Francisco and San Jose report that suburban locations are becoming more attractive to Bay Area tenants.

The full report is available here:

https://www.pwc.com/us/en/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2019.pdf

The Bay Area is home to over 700,000 students enrolled in college or graduate school, many of whom will need off-campus housing each year. Here are some of the pros and cons of renting to students:

Pros

• High Demand: There is a constant need for student housing every school year.
• Higher Rents: Due to the high demand for housing, students may be willing to pay more rent.
• Third Party Payment: Parents often pay their student’s rent.
• Word of Mouth Fills Vacancies: Students may seek out convenient rental spaces on their own.
• Satisfied With Less: Students are looking for temporary spaces to live while they attend school, and may be content with more modest rentals.

Cons

• Inexperience Renting Property: Students may be less careful with property and late on rental payments.
• Frequent Turnover: New student renters may need to be found each school year.
• Competition: Other rental properties may be competing for student tenants, so lower rents may be necessary as incentive.
• Breaching The Lease: Students may ignore the details of their lease agreement.
• Summer Vacancies: When students leave for the summer, it may be difficult to fill open properties.

 

To read more about this issue, check out https://www.thebalancesmb.com/pros-and-cons-of-renting-to-students-4156810