If you're an apartment owner, I know you have a lot of questions right now. Last year, they passed statewide rent control. This year due to COVID-19, they passed eviction moratoriums. The CPI just came out so the way that you could raise your rent has been changed as well. And so I know there's a lot of uncertainty. Can you raise your rent? Can you serve a three-day notice? Can you get your property back? And also, there's questions about ADUs and how that impacts whether you're exempt from rent control or not. So to help clarify this, we're going to sit down with Bruce Menke, one of the best well-known attorneys in Long Beach, and he's going to help bring some clarity to the questions that we all have.
The first half of the year has been none like ever before. We've had the COVID-19 pandemic, we've had high unemployment, business closures, no school, quarantine, masks, even more quarantine possibly coming. What does this all mean to your apartment building, your investment in the city of Long Beach? Today I'm going to give you a midyear review, explain what the numbers from Quarter 2 of 2020 are telling us, and how it's going to impact the value of your fourplex in Long Beach.
As your Long Beach fourplex market leader. We're going to give you an update on what is going on in the fourplex market. In this 2020 Quarter 2 Market Update, we will discuss:
• Number of Sales
• Days on Market
As your market leader in Long Beach fourplexes, we are tracking statistics, trends, and important information affecting Long Beach 4-plexes. In this 2020 Quarter 1 Market Update, we will discuss:
- COVID-19 Rent Collection
- Increased Long Beach 4-plex Inventory
- Market Response to COVID-19
- Rent Repayment Forms for Owners
If you are an apartment owner in Long Beach, an active apartment buyer, or someone thinking of investing in multifamily units, it is essential to have the necessary information to make the best investment decisions. More specifically, the market intelligence and statistics that we have compiled for you are vital in determining whether you should buy, sell, hold, or refinance. This information is not available anywhere else, and we are the ONLY firm that has these metrics, as our team of in-house analysts have generated these statistics from the ground up.
Statewide rent control is here. Many owners are unaware of the new rent control law, what it entails, and how it affects their property values and management methods. For buyers, this new law will change the way that they forecast future rents and initial investment. This information and these resources are extremely important for all owners and investors to understand.