ACTION Apartment Association

The state of real estate in Santa Monica

10/20/2023 9:13 AM | Margaret Fulton (Administrator)

Santa Monica’s real estate market may have peaked recently as local realtors say the combination of high interest rates, taxes, cost of living expenses and general instability are starting to weigh the business.

No one is predicting a real estate crash in the city by the sea, but there are early signs of a softening market with an increase in the number of days homes are for sale and fewer homes selling at or above their listed price.

The root of the current market lethargy is a near record interest rate.

Mayors and City Councils who side with criminals, homeless, outsiders, unions, over taxpayers is Killing California

10/19/2023 10:26 AM | Margaret Fulton (Administrator)

By Houman Hemmatti MD PhD

There's a LOT to be fixed. Replacing Newsom or repealing Prop 47 are necessary but, on their own, insufficient to fix the state. My two cents.

Police Department Nearing Full Force

10/18/2023 9:09 AM | Margaret Fulton (Administrator)

The Department has hired 18 new recruits so far this year, bringing the total number of officers to 2018, just ten shy of the 228 officers budgeted for the current fiscal year, said City Manager David White.

Santa Monica Housing Bill Among 56 Signed into Law

10/16/2023 10:16 AM | Margaret Fulton (Administrator)

A tenant with "a disability related to mobility" can seek to be moved to a first-floor unit under a bill co-sponsored by the City of Santa Monica that was signed into law Wednesday.

AB 1620 authored by Assemblymember Rick Chavez Zbur (D), whose District includes Santa Monica, was one of 56 bills signed by California Governor Gavin Newsom that aim to fast-track new housing construction and bolster tenant protections.

The Santa Monica co-sponsored legislation is the first time the Costa-Hawkins Rental Housing Act -- which allows landlords to charge market rate for most vacant units -- has been significantly amended since it was passed in 1995, City officials said.

Santa Monica Rent Report: October 2023

10/13/2023 4:17 PM | Margaret Fulton (Administrator)

In Santa Monica, the overall median rent in the city stands at $2,203, after rising 2.1% last month. Prices remain down 1.4% year-over-year.

Gov. Newsom Signs Santa Monica-Sponsored Bill Protecting Disabled Renters

10/13/2023 4:08 PM | Margaret Fulton (Administrator)

It Marks the First Time the Costa-Hawkins Rental Housing Act Has Been Substantially Amended

Under AB 1620, which was signed on Oct. 11, local jurisdictions can require landlords to allow physically-disabled tenants (not subject to nonpayment eviction) to move into similar or smaller units on an accessible floor. The tenant would also keep the same rent rate and terms of their lease as long as the move is necessary to accommodate their disability, no operational elevator serves the floor of their current dwelling, the new dwelling doesn’t require renovation to comply with safety standards, applicable authorities determine the owner will still receive a fair rate of return, and the tenant requests to move into an available unit prior to it becoming available.

Newsom signs tenant bills to lower security deposits, prevent more evictions

10/12/2023 11:24 AM | Margaret Fulton (Administrator)

One of the more significant measures Newsom signed this year is Assembly Bill 12, which will prohibit landlords from charging more than one month’s rent as a security deposit.

Santa Monica Is Case Study in Voter Discrimination, Report Contends

10/12/2023 10:45 AM | Margaret Fulton (Administrator)

Santa Monica's switch to at-large elections in 1946 exemplified a nationwide effort to disenfranchise Black and Latino voters, according to a joint study released this month.

The 47-page report -- authored by professors from UC Berkeley, the University of Michigan and Harvard -- was released as Santa Monica is fighting a Voting Rights lawsuit that would upend its electoral system ("Supreme Court Reverses Voting Rights Ruling," August 23, 2023).

Santa Monica Below Market Housing (BMH) Program

10/12/2023 7:26 AM | Margaret Fulton (Administrator)

The Santa Monica Housing Division staff will be hosting informational workshop about the City's Below Market Housing (BMH) waitlist and program.

City Council Approves Metro-Adjacent Affordable Housing Proposal

10/09/2023 9:02 AM | Margaret Fulton (Administrator)

The project, at the block bounded by Olympic and Colorado and 4th and 5th Streets, includes AMCAL’s proposal to acquire the adjacent 27,176 square foot office/commercial building at 1640 5th Street, known as the “Comma Building”, from Lincoln Properties, for additional housing units.