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August 2020 Commercial Newsletter

August 2020 Commercial Newsletter

Download Complete Newsletter | Volume 8, Issue 8

Is It Time to Revisit Your Goals for 2020?

Let’s face it, a lot has changed within recent months, and these changes were not on our radar screen when we originally designed our goals for 2020. So with this in mind, might it be appropriate right now to revisit the goals that you set for yourself this year, to determine whether or not they need revision?

With the business closures that have occurred, the reduced income, and people getting laid off from work, so many people have been impacted by all of this. In addition, people who own properties are dealing with tenants who can’t pay their rent, and it’s looking like this will continue on into our future.      

Even when it comes to other investments, unless you’re invested in a company that has been experiencing a boost to its revenue and profitability because of COVID-19, the chances are that the company or companies you’re invested in have been facing their own financial challenges. So with this in mind, it may be time for you to do the following:

  1. Take a look at the goals that you set for yourself for 2020, and determine if they need to be revised.
  2. In addition to doing this, take a look at the game plan you designed for achieving these goals, and determine whether or not that game plan now needs to be revised, too.

In keeping this in mind, what is your income goal between now and the end of the year, taking into consideration everything that’s been going on, and including your predictions around how everything will be playing out economically for you between now and December 31st? In addition, what is your game plan for accomplishing this goal, including all of the activities that you must be doing on a daily, weekly, and monthly basis in order to achieve your goal?

With all that we’ve been experiencing, engaging in this process can help you to add more clarity, certainty, and direction to your life in moving forward, and let’s face it, we can definitely all use more of this during these challenging times.

With the continuation of the pandemic, the upcoming November election, the release of the vaccine, and what world leaders are now referring to as being “The Great Reset”…a major revision to capitalism that they’re saying will be rolled out to all of us during the first half of 2021, things are likely to continue on in getting very interesting.                                                                                                                                                          

California Faces Potential Wave of Evictions With Statewide Ban Set to Expire Next Week

Apartment Industry Groups Call for Reopening Courts to Landlords Seeking to Pursue ‘Unlawful Detainer’ Actions

By Randyl Drummer CoStar News August 5, 2020

The rule-making arm of the nation’s largest court system could allow California’s statewide moratorium on evicting residential tenants during the coronavirus pandemic to expire as early as next week, potentially triggering a wave of evictions and causing what housing advocates fear could be a surge in homelessness that might contribute to further spread of the virus.

California property owners have been prevented from legally evicting tenants since April, when the Judicial Council of California, the state court system’s rule-making body, issued an order temporarily halting all eviction proceedings in the pandemic. Many landlords across the state argue that they are being prevented from ensuring they get the income from rental payments that they need without the mechanism that allows them to replace nonpaying renters with paying ones.

Chief Justice Tani Cantil-Sakauye recently announced that the council expects to vote “very soon” to dissolve the emergency suspension of virtually all unlawful-detainer cases, or cases involving the removal of a tenant by a landlord, in the state as early as Aug. 14.

“The remedies are best left to the legislative and executive branches of government,” Cantil-Sakauye said in an announcement on the council’s website. “I want to give the two branches enough notice that the council will very soon resume voting to terminate these temporary orders.”

California, which has the nation’s largest court system with 58 superior courts, is home to roughly 40 million people, or 12% of the U.S. population, according to the state website. The state already has the largest crisis of homelessness in the nation, according to federal figures. It has some of the most expensive rents in the nation and is behind in housing development by as many as 4 millions units to keep up with population growth, according to some estimates.

Now, lawmakers say the spike in unemployment caused by the coronavirus pandemic has worsened the housing affordability crisis, the effects of which have only been kept at bay because of the emergency protections.

The looming August deadline is too soon for state lawmakers to pass several bills extending the eviction bans and providing other protection for tenants, including giving them more time to pay back rent, which is expected to take until at least the end of this month, state Assemblyman David Chiu, a San Francisco Democrat, said this week.

“We could see a massive wave of evictions begin within a day or days of that order being rescinded,” Chiu said in a news conference with housing advocates and local health officials, who described the pending evictions and escalation of homelessness as a potential public health crisis.

The California Apartment Association has called on the Judicial Council to allow unlawful-detainer proceedings to move forward.

“Eviction should always be the last resort, especially when people have been out of work or had their hours cut,” said Tom Bannon, the association’s chief executive, in a statement. “But without the unlawful detainer process, rental property owners are without the legal tools necessary to preserve the peaceful, quiet enjoyment of their rental communities.”

State Safety Net

California Gov. Gavin Newsom said at a press conference this week his office is “working against the clock, that Aug. 14 clock,” with the Legislature to extend tenant protections. Chiu urged Newsom to issue another executive order extending his March 27 executive order.

The governor has already extended that order once in July through Sept. 30. San Francisco, Los Angeles and other local governments have also passed or extended measures protecting tenants from being evicted outright. A San Francisco judge on Tuesday upheld a law that protects San Francisco tenants unable to afford rent because of the pandemic, dismissing concerns by landlords and real estate groups that alleged in a lawsuit that the ordinance conflicts with California’s unlawful-detainer law, which allows landlords to seek evictions in court for tenants who don’t pay rent.

If the Judicial Council allows its ban to lapse, there is no safety net for tenants if the governor or Legislature fail to put new measures in place, Chiu said. Landlords would be allowed to file lawsuits for failure to pay rent and proceed with the process short of actually evicting the tenants.

“If we don’t make any changes to the law, we’re going to see a whole slew of Californians being evicted and those landlords will never get paid,” said Chiu, author of state Assembly Bill 1436, a proposal under consideration in the Senate that would give renters up to one year to pay back rent and ban any eviction for non-payment of rent due to the pandemic.

The fate of hundreds of thousands of Californians is in the hands of the governor and Legislature and ending the Judicial Council rule now and allowing a flood of evictions just as COVID-19 cases are spiking will cause “needless and substantial harm to Californians who cannot pay rent,” the Western Center on Law & Poverty, a social justice group, said in a statement.

Margot Kushel, a professor of public health at the University of California at San Francisco, said a surge in evictions would make it even more difficult to achieve social distancing, potentially allowing the virus to spread rapidly among homeless and lower-income populations.

“Evictions result much of the time in households doubling up with another household or becoming homeless,” Kushel said during the news conference with Chiu.

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