Housing Heroes Newsletter
By Steve Welty
DRE #01744610
Local Law Updates, Landlord Tips, and San Diego News. Delivered to your inbox every Saturday at 6am.
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Previous Issues of The Housing Heroes
- Understanding Prop 19: Essential Facts for Housing ProvidersSteve Welty Issue# 26 December 2024 Dear Clients and Friends, If you plan to pass a rental property down to your children, or if your parents own a rental property that you might inherit one day, it’s important to understand Proposition 19. Although this law passed a few years ago, we still receive many questions about its implications. Let’s dig into the key details and my take on how to plan effectively. What You Need to Know About Prop 19 Reassessment to Market Value: If your kids don’t...Read More
- Can I charge higher rent because my property has solar panels?Steve Welty Issue# 25 December 2024 Dear Housing Heroes! I hope your Thanksgiving was filled with joy, gratitude, and maybe even a second slice of pie! As we gear up for the holiday season, let’s dive into a question many landlords are asking: Can I charge higher rent because my property has solar panels? Solar as a Feature, Not a Premium Solar panels are undoubtedly a great selling point—they lower utility costs, appeal to eco-conscious tenants, and contribute to sustainability. But here’s...Read More
- The One Strategy Your Tenants and Vendors Will Thank You ForFocus where there’s no competition. Easier said than done, but the idea of going where there is no competition can have a big returnRead More
- Do You Own Your Property—Or Does It Own You?A mentor once shared a story with me that changed the way I think about success.Read More
- Victory for Housing Providers: Prop 33 Defeated!Proposition 33 has been decisively defeated, with over 62% of voters standing with usRead More
- 3 less common, but super effective ways to get your property rentedSteve Welty Issue# 22 November 2024 Happy Saturday Housing Heroes! Looking for ways to lease your property faster? Take a page from Wall Street’s playbook. If your rental has been sitting vacant longer than you’d like, a few smart adjustments can help it stand out and attract quality tenants in today’s market. Here are six strategies to help you fill your vacancy faster 👇 Make a Killer First Impression First impressions are make-or-break. Take a quick walk-through of your property with fresh...Read More
- A Wake-Up Call on Section 8 DiscriminationSteve Welty Issue# 21 October 2024 Happy Saturday Housing Heroes! A few weeks ago, we faced an upset client after approving a Section 8 tenant. The reaction was understandable—Section 8 has long been shadowed by stigma and misconceptions, with landlords often assuming it brings bureaucracy and unreliable tenants. For years, a “No Section 8” policy was routine for many housing providers. However, California law now forbids this. We reminded the client that since January 1, 2020, it’s illegal...Read More
- Prop 33 – What You Need to Know About the Justice for Renters ActSteve Welty Issue# 20 October 2024 Happy Saturday Housing Heroes! This November, California voters will decide the fate of Proposition 33, also known as the Justice for Renters Act, which could reshape the state’s housing landscape. The measure seeks to repeal the Costa-Hawkins Rental Housing Act of 1995, a law that has kept rent control in check for nearly three decades. Costa-Hawkins currently prevents cities from applying rent control to single-family homes, condos, and apartments built...Read More
- New Rules for Security Deposits: What Landlords Need to KnowIn September, California took a big step towards improving transparency in rental practices with the signing of Assembly Bill 2801. Read More
- The Ultimate Formula for Pricing Your RentalToo many rental property owners guess their way through pricing, often leaving money on the table or dealing with vacancies.Read More
- California’s Balcony Inspection Law: Time is Running OutHeads up, California landlords—if you’ve been dragging your feet on balcony inspections, it’s officially crunch time.Read More
- Rental House Owners are Sitting on a Gold MineRental house owners in California may be sitting on a gold mine, and the reasons are more compelling than ever.Read More
- Redfin’s CEO Sounds the Alarm on HousingI’m writing this newsletter after reading an article where Redfin’s CEO sounded the alarm on the housing market.Read More
- Grandma’s 95th Birthday and a Look Back at Housing Market ParallelsWe celebrated my grandma’s 95th birthday with a fabulous 1920s-themed party at the VFW in Moreno Valley, and it was a blast!Read More
- 3 Ways I Invested in Relationships + Must-Know San Diego Market UpdatesSteve Welty here! This week, I’m mixing things up with a short video where I share my top 3 tips for building strong relationships. Read More
- Tackling Homelessness: A Housing Provider’s PerspectiveSteve Welty Issue# 11 August 2024 As the owner of a company that manages over 1,350 homes, the housing landscape is central to everything we do. The homelessness crisis in California, however, is a problem that extends far beyond the realm of business—it’s a societal challenge that affects us all. As an entrepreneur, I’m always on the lookout for better solutions. As a taxpayer, it’s frustrating to watch as vast sums of money are poured into initiatives that seem to do little to stem the tide...Read More
- Understanding Asbestos Regulations in California: A Guide for Housing ProvidersDealing with asbestos is one of the most stressful challenges for housing providers. We often get asbestos abatement issues that come up and educatingRead More
- Insights into California’s Home Insurance CrisisCalifornia's insurance market is in a state of crisis, with significant parallels to the ongoing challenges in the state's housing market. Both crisesRead More
- The 5 Ways Real Estate PaysSteve Welty Issue# 8 July 2024 Working with many rental property owners, I've noticed that there's often a gap in understanding the full benefits of owning rental properties. Most people get the basics like cash flow and appreciation, but there are three other powerful ways real estate can build your wealth that often get overlooked. Here are the five distinct ways real estate can build your wealth: Cash Flow, Appreciation, Tax Savings, Amortization, and Leverage. 1. Cash Flow Cash flow is...Read More
- Why Are You Renting Your Property?Steve Welty Issue# 7 July 2024 Why are you renting your property? Some have reasons like: Market Conditions: “I don’t think it’s a good time to sell.” Future Plans: “I might want to live there down the road.” Experimentation: “I want to try it out and see if it makes sense.” Some have a Purpose Legacy: “I want to leave my kids something meaningful.” Passive Income: “I want to own assets that don’t require my brain.” Community Contribution: “I want to build equity and cash flow and provide...Read More
- Why I Do What I Do: Advocating for Balanced Housing PoliciesSteve Welty Issue# 6 July 2024 If you follow me on social media, you’ve likely noticed my increased activity around rental housing politics and policy. Since 2019, tenant protections and rent control have surged across the state, impacting areas like San Diego and Orange County. This wave of regulation has turned me from a passive observer to an active advocate for our community of housing providers and renters. The Tipping Point: AB-2216 For the past few years, I’ve been a “casual...Read More
- Important Legal Updates for California Landlords: Security Deposits & Rent IncreasesSteve Welty Issue# 5 July 2024 Happy Saturday! I want to keep you informed about two significant legal updates impacting rental property in California, effective July/August of this year. Assembly Bill 12: Security Deposit Cap Effective Date: July 1st, 2024 Key Details: Security Deposit Cap: This new law caps security deposits at one month’s rent. Exclusions: Small landlords who own no more than two properties, with a maximum of four units, are exempt from the provisions of AB 12. My Take: I...Read More
- The Value Triangle: Why Repairs Cost What They DoNobody enjoys overpaying for repairs. But determining what "too much" means can be tricky since value is subjective.Read More
- SB 602 Explained: Protect Your Property from SquattersEver wondered why the topic of squatter rights keeps trending in rental property discussions?Read More
- It's time to face some hard truths...Since 2020, our industry has been faced with eviction bans, new rent control laws, and a wave of legislation chipping away at our rights as property oRead More
- You are a Housing HeroThe term landlord is outdated. In fact, I looked it up and it comes from 11th century England during the feudal system.Read More
