New California Housing Laws 2024

🏡 New S.F. Housing Scrutiny: California's Annual Check-In

In a groundbreaking move, California's housing agency will commence yearly evaluations of San Francisco's progress toward state-mandated housing goals, beginning next year. This heightened scrutiny, championed by Senator Scott Wiener, places San Francisco under a more frequent review compared to other regions, which will be assessed every four years. Wiener, the law's architect, attributes this decision to his city's sluggish pace in approving new housing projects, blaming the Board of Supervisors and the notoriously slow permitting process. The newly enacted law, SB423, adds to the mounting pressure on San Francisco, following an unprecedented audit of its housing approval process by the state housing agency. Failure to streamline processes may lead to the city relinquishing control over permitting.

🏠 "Yes In God's Backyard" Law: Affordable Housing Simplified

Breaking barriers to affordable housing, SB 4, or the "Yes In God's Backyard" (YIGBY) law, provides a streamlined path for churches and nonprofit education institutions to build affordable housing on their land. This exemption spares them from the cumbersome rezoning process and reviews under the California Environmental Quality Act (CEQA). Anticipated to open up approximately 171,000 acres for development across the state, this law is a crucial step in addressing California's housing crisis. Organizations opting for streamlined affordable housing must commit to maintaining the affordability of homes for a minimum of 55 years for rentals and 45 years for owner-occupied units.

Read more about these developments at SacBee.

🔒 Security Deposit Cap: A Game-Changer for Renters

Navigating the rental landscape in many California cities can be daunting, and sky-high security deposits only exacerbate the challenge. Current state law permits landlords to request security deposits equivalent to two months' rent for unfurnished units or three months' rent for furnished units. However, with the implementation of AB12 by San Francisco Assembly Member Matt Haney on July 1, 2024, this will be capped at the equivalent of one month's rent. This move aims to alleviate financial burdens on renters and improve access to housing in high-demand areas.

🛴 SB 712: Storing Mobility Devices in Rental Spaces

In another tenant-friendly move, SB 712 allows tenants to store electric scooters and bicycles in their apartments, provided the battery meets specific safety standards. In cases where the battery falls short of safety criteria, tenants may need to obtain liability insurance or may face restrictions on charging the mobility device indoors.

Stay informed about California's evolving housing landscape as these laws come into effect and shape the future of housing in the state.

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Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.

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