Governor Jerry Brown has signed a bill into law that could mean serious changes for many residential and multi-use developers in the Golden State. Senate Bill 7 instructs on how water metering should be handled in developments breaking ground after Jan. 1, 2018, expanding on existing water metering regulations. Under the new bill, some significant expenses may be required beyond original plans for developers.
Commercial tenants' rights made a significant leap forward recently, as California passed revisions to laws governing disability access to commercial property. Beginning on Jan. 1, 2017, landlords in the Golden State will have greater responsibilities to their tenants and tenants' clients, expanded from already robust disability access regulations.
It's no secret that many people across the country have been sprucing up their residences and offering them up for short-term use using Airbnb and other hosting platforms. This has led to some tricky legal issues for both property owners and renters who are hosting.
California commercial real estate is rarely a boring field, but the industry may be about to get considerably more interesting. Nine states considering legalizing marijuana in some form, and California's ballots feature proposal for legalizing the drug for broad recreational use. If the initiative passes, it will be a game changer in the industry, busting the legitimate market wide open. For savvy developers who have the resources and foresight to get into the game early, profits could be astronomical. For those who are further down the food chain in the marijuana hustle, not owning their own real estate may make for unbelievable headaches.