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
Browse our blog posts to be in the know.
For the month of June, we have supported LGBT Asylum Project, and are hosting this brunch in honor of all the great work this nonprofit does. Come join our teams for a… Read more
Take your real estate career to the next level!
What does 2023 have in store for the housing market?
What does 2023 have in store for the housing market?
Spring has sprung and the market is feeling a lot luckier!
What does 2023 have in store for the housing market?
Have questions about the market? Our team is here to help and connect you to a lender.
Mortgage Applications jump due to lowest rates since September
You’ve got questions and we can’t wait to answer them.