San Francisco Owners Required to Register Homes
Steven Huang | January 31, 2023
Steven Huang | January 31, 2023
All San Francisco owners of residential properties, including your primary residence and possibly unpermitted units, are now required to register on San Francisco Rent Board's Housing Inventory. Previously, this requirement applied to larger landlords only, but by March 1, 2023, all owners must register each of their units in order to receive a "license" to raise rents. Owners must report the mailing address of each property, amount of rent collected, who lives there or if it's vacant, among other property details.
More information may be found on the Rent Board: https://sf.gov/information/rent-board-housing-inventory-frequently-asked-questions-faq
Take note that as of 2024, due to voters' passage of Prop M, property owners with at least three units that have been vacant for more than 182 days (six months) will be taxed between $2,500 and $5,000 per empty unit. In ensuing years, that penalty will increase to as much as $20,000 per empty unit. We will be writing another blog about this soon.
If you'd like recommendations to an attorney who can advise on your particular circumstances, please contact us!
Source(s):
https://sf.gov/information/rent-board-housing-inventory-frequently-asked-questions-faq
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