Happy 2014 and Welcome to the Esquire "Hot off the Press" Real Estate blog!
This blog will provide you with relevant, important information relative to owning, buying, selling, leasing, and improving real estate in California. Please remember Esquire Real Estate for all of your real estate transaction needs.
Did you know that more than 800 new California laws went into effect on January 1, 2014? Did you know that many of these new laws affect California real estate? Regardless of the pros or cons of these new laws or the sheer number of new laws, you as a California buyer, seller, lessor, lessee, or owner of California real estate must be aware of these changes.
Effective January 1, 2014, a master-meter customer of an apartment building, mobilehome park, or similar residential complex, must post in a conspicuous place the applicable specific current residential gas or electrical rate schedule as published by the serving utility, rather than the prevailing residential utilities rate schedule as previously required. Alternatively, the master-meter customer may elect to post the website address for a tenant to access the schedule as long as the master-meter customer also does the following: (1) state in the posting that an individual user may request a copy of the specific current residential gas or electrical rate schedule from the master-meter customer; and (2) provide the schedule upon request at no cost. See Public Utilities Code § 739.5(e). See the analysis by the California Apartment Association shortly before the governor signed the bill: http://www.caanet.org/news_events/brown-could-flip-off-switch-on-utility-rate-posting-requirement/.
Coming next posting: If you are planning to sell your home in 2014, a new law will require further disclosures in the Transfer Disclosure Statement. Check back next time for further details.