Blog Posts in Category: Uncategorized

11/15/2019

Understanding the Potential of the Bay Area's Largest Housing Boom

Understanding the Potential of the Bay Area's Largest Housing Boom

New data by the Census Bureau uncovers how the rising wealth of Bay Area residents supports the demand for Bay Area homes throughout this expansion. Less than 8% of residents earned $200,000 or more in 2018, yet in 2019 almost one of four Bay Area families made a salary equivalent to or more. Since 2010, the quantity of Bay Area homes gaining or over this amount has expanded about 400,000, with close to 80,000 residents in 2018 alone. In San Mateo, Santa Clara, Marin, and San Francisco areas, about one out of three families earned, in any event, $200,000 in 2018.
To place this degree of pay in context, a family making $200,000 annually could easily purchase a home priced at $1.5 million, or utilizing traditional financing at current rates. Furthermore, the pay distinction in the Bay Area compared to the national gross average, would without a doubt be more severe if the data was extended to more significant levels of income. While Bay Area home costs continue stressing the financial limit for some households, the unbalanced rise in high-income residents with noteworthy acquiring power has provided support for higher home prices among homes sold.   more...

09/11/2019

Breaking News: AB-1482 Passes California Assembly

Breaking News: AB-1482 Passes California Assembly

The California Assembly voted 46-22 to approve AB 1482. The bill would cap annual rent increases at 5 percent plus inflation. The bill will now go to Governor Gavin Newsom for signing.
To learn more about the bill and how the California Rent Control Bill may affect you, read our blog post: AB-1482: The California Rent Control Bill   more...

08/30/2019

Celebrating our team! Party Time!

Celebrating our team! Party Time!

At Advent, we like to celebrate, I mean who doesn't?
Today we celebrated the birthdays of two team members. Nha Vu and Longson Chan. As per tradition, we make everyone wear the Birthday Sash for their party. Today, we got to see a new way for it to be worn!   more...

08/08/2019

Advent supports National Night Out

Advent supports National Night Out

Advent Properties supports Oakland's National Night Out! Our President, Benjamin Scott, helped sponsor the crime fighting and community event where our Oakland office is located. It was so invigorating to see so many neighbors and friends come out to support a great cause, eat amazing foods from around the world, and discuss ways to make our community stronger!   more...

07/26/2019

Advent Secures 2nd Win at the Tailgate Throwdown with Spectrum Community Services

Advent Secures 2nd Win at the Tailgate Throwdown with Spectrum Community Services

Last night, Advent Team attended the Tailgate Throwdown put on by Spectrum Community Services. This was a bagged lunch making competition that pitted 4 teams against each other to make the most lunches in a timed period. Advent held the title from last years inaugural Throwdown so their title was on the line. After winning the first round to be placed in the finals, Advent Team competed and tied opposing team. Two successive over time events occurred, and the Advent team was victorious by one more bagged lunch then the opposing team. As a reward, Advent Team was invited to get on the Oakland A's field Pre Game while the teams warmed up. What a delight and experience. The best part of all this was that by supporting Spectrum Community Services, we are helping to provide nutritious and delicious meals to seniors that are home bound. We proudly support and sponsor Spectrum Community Services! We will be in Pleasanton in September for the Southern Alameda County edition of the Throwdown Challenge! See you there!   more...

07/19/2019

Advent Gives Back...Spectrum Community Services Philanthropy Awards

Advent Gives Back...Spectrum Community Services Philanthropy Awards

Team Advent takes tremendous pride in giving time, energy and resources to help Bay Area seniors through the awesome work of Spectrum Community Services Benjamin Scott, President and CEO and Charlie Deterline, Spectrum Development Director spent the morning at the San Francisco Business Times Annual Corporate Philanthropy Awards.   more...

06/26/2019

Updated Prop 65 Warning Regulation

Updated Prop 65 Warning Regulation

Information Courtesy of the California Apartment Association
SIGNS ONLY REQUIRED IN SMOKING AREAS AND ENCLOSED PARKING GARAGES The California Apartment Association has made it easier for landlords to comply with new Proposition 65 “safe harbor” warning requirements, which apply to all California companies with 10 or more employees.   more...

06/14/2019

Owner Move-In Evictions in San Francisco

Owner Move-In Evictions in San Francisco

The San Francisco Rent Ordinance allows property owners to evict tenants so that the owner can move into the unit and use it as their primary residence. This type of eviction is known as an Owner Move-In eviction or “OMI.” There are a number of technical requirements and restrictions that apply to OMI evictions:
The landlord must have a minimum 25 percent ownership in the property and must have the honest intent to reside in the unit as his or her principal place of residence for at least three years. In addition, the landlord must move into the unit within 90 days of the date the tenant vacates.The landlord may not evict the tenant under the OMI provisions if there is a comparable vacant unit available. Similarly, if the owner has a vacant, non-comparable unit available, he must offer that unit to the tenant. The landlord may not evict protected tenants (including seniors, disabled, catastrophically ill, or with children in school) unless the dwelling is the only dwelling owned by the landlord in the building, or if the landlord is also senior or disabled. The landlord must use a 60-day notice to terminate the tenancy, unless the tenant has resided in the unit for less than one year, in which case, a 30-day notice is sufficient. The notice must contain numerous disclosures and explanations of tenant's rights under the Rent Ordinance. The landlord must also pay each tenant monetary relocation assistance in the amount specified by the Ordinance (currently over $6,000 each). Additional payments must be made if the tenants are protected or if there are children in the home. In an effort to crack down on perceived abuses of OMI evictions, the San Francisco Board of Supervisors recently added a number of additional restrictions and requirements that apply to OMI evictions.Those new restrictions include:   more...

06/12/2019

URGENT: Protect the Rights of Small Landlords!

From Steven Edrington, CCIM, CPM2019 Women’s Auxiliary PresidentEdrington and Associates Please donate to our Legal Action Fund in support of the Owens v. City of Oakland case that is now going to the state court of appeals. The central issue on appeal is whether or not a local rent board can circumvent the single-family home exemption under the Costa-Hawkins Rental Housing Act by creating an exception. This is a major case for our industry and community. If the ruling stands, single-family homes where an owner rents out rooms under separate leases may become subject to rent control laws.The City of Oakland, through it's Rent Adjustment Program (RAP), has decided to penalize homeowners as a means to solve the housing crisis by declaring that persons occupying rooms of a single-family home on separate lease agreements shall now be subject to rent control.This is a direct attempt by a local government to exert control over homeowners in the name of tenants' rights. It will ultimately have the unintended consequence of making fewer such units available for rent, thus worsening the housing crisis.Traditionally, an owner-occupant of a single-family home choosing to have a roommate or roommates has been an acceptable form of housing controlled by the homeowner. The owner should be able to establish control of the living space in a shared home to maintain a peaceful environment, unique to each homeowner and those renters within a private home.We must preserve small homeowners' ability to buy and maintain their homes and property and not treat them the same as large corporate landlords of apartment buildings.We must maintain a process for people to buy a home and at the same time provide a safe and secure place for others to live — it's a win win.Mr. Owens is not a large property owner. He owns his single-family home and is able to afford to live in his house only by renting out rooms to roommates. He has expended funds fighting Oakland's writ of mandate. He lacks the resources to continue his battle in the state court of appeals for what is really a larger issue for the greater landlord community.
DONATE NOW!   more...

05/29/2019

URGE LAWMAKERS: NO ON AB 1482

Urge Your Assembly Member to Vote NOon AB 1482 and AB 1481 that Establish Restrictive Rent Caps and “Just Cause” Evictions
C.A.R. OPPOSES UNLESS AMENDED AB 1482 (Chiu), which creates a very restrictive statewide rent cap, and AB 1481 (Grayson and Bonta), which establishes statewide “just cause” evictions. C.A.R. has been negotiating in good faith with the bills’ authors in an attempt to make reasonable amendments to both bills, thus removing C.A.R.’s opposition. As of now, those negotiations have stalled. As a result, C.A.R. OPPOSES both bills. The Assembly could vote on these bills as soon as TODAY.   more...

05/20/2019

ADVENT CLOSED IN OBSERVANCE OF MEMORIAL DAY

ADVENT CLOSED IN OBSERVANCE OF MEMORIAL DAY

Advent offices will be closed in observance of Memorial Day, Monday, May 27th.  Our offices will reopen Tuesday, May 28th at 9am. Our Emergency Maintenance Line will still be available: 510.230.0399
Memorial Day at the San Francisco National Cemetery Check out Memorial Day events in San Francisco from the SF Travel. The Definitive Guide to Memorial Day Weekend in San Francisco This includes the Presidio Memorial Day Commemoration at the San Francisco National Cemetery.   more...

05/01/2019

?Beautful El Cerrito Hills Home for Sale?

?Beautful El Cerrito Hills Home for Sale?

We are proud to present this charming 2 bed, 1 bath El Cerrito Hills home, teaming with character.
It features an enviable entryway leading into the expansive dining and living rooms. This home is nestled into the hills, in a delightful and welcoming neighborhood. Tucked away from the public rooms are two well-appointed bedrooms and one bath. Large custom windows bathe the home in abundant natural light, bringing the feeling of nature indoors. Your spring and summer entertaining awaits, in the large private fenced backyard with mature foliage. A living room fireplace waits to warm you and your loved ones on those cozy fall and winter nights. This unique home is for those with discerning tastes and solicits pride of ownership. Please contact us to schedule your private showing today.   more...

01/22/2019

Institutions Providing Financial Relief During Government Shutdown

Institutions Providing Financial Relief During Government Shutdown

If you’re a government worker or contractor who has been impacted by the shutdown, share your story with Homesnap. Homesnap will randomly select 10 entries from government workers and contractors and pay their mortgage or rent in February.  For more details go to: www.homesnap.com
  more...

01/16/2019

Advent Closed in Observance of MLK Day

Advent offices will be closed in observance of Martin Luther King Jr. Day, Monday January 21st. 
Our offices will reopen Tuesday, January 22nd at 9am.    more...

12/28/2018

Bay Area by the numbers. What new census data says about the region. 

Bay Area by the numbers. What new census data says about the region. 

Do you know which county has the youngest residents or the oldest homes?
  more...