By Mike Ege : sfstandard – excerpt
Whenever a renter has to move, they always have to do the grim math: Bank up for whatever move-in costs a landlord demands for a desired home, which can easily run into the tens of thousands in a market like San Francisco.
San Francisco Assemblymember Matt Haney plans to make the process a little less stressful in an era of high rents.
“In San Francisco, an average apartment is $4,000, which means a person may need up to $12,000 just to move into an average apartment under current law. That’s egregious; it’s literally a down payment on a house in many places,” said Haney. “AB 12 will follow what states like New York and Delaware have done for years and cap a security deposit at one month of rent.”…(more)
Is this making property owners more or less likely to stay in the rental business?
and on the Fed side:
Senate Rejects Bill To Curb Money Laundering in Silicon Valley
By Matthew Kupfer : sfstandard – excerpt
Venture capital firms, investment managers and corporate lawyers in San Francisco are likely heaving a sigh of relief.
Just hours after the White House backed measures that would close holes in money-laundering restrictions, they were stricken from a U.S. Senate defense spending bill, setting back efforts at reining in foreign tycoons who pour their money into investments such as Bay Area startups and real estate.
National Security Advisor Jake Sullivan announced on Dec. 6 that the Biden Administration “fully supports” the Establishing New Authorities for Business Laundering and Enabling Risks to Security (Enablers) Act during a speech at the International Anti-Corruption Conference in Washington, D.C…(more)
If DC does not the care of money laundering, will Sacramento step up and do something? Ask your state representatives about that.