NEW LAWS in 2012 that may affect property owners...
â€¢Sellers disclosing water-conserving plumbing fixtures:Â Effective Jan. 1, 2012, sellers will have to disclose whether a property has water-conserving plumbing fixtures. Water-conserving plumbing fixtures are low-flow toilets, shower heads, and faucets. The law also requires that by Jan. 1, 2017, a single-family residence built on or before Jan. 1, 1994 must generally be equipped with water-conserving plumbing fixtures. Senate Bill 837
â€¢Fees for HOA disclosures:Â Beginning Jan. 1, 2012, Assembly Bill 771 requires a homeowner's association (HOA) to, upon written request, give an estimate of the fee for providing a prospective buyer with the governing documents of the common interest development and other required HOA disclosures. The fee must be reasonable based upon the HOA's actual cost for procuring, preparing, reproducing, and delivering the HOA documents. This is a huge win for consumers as fees for HOA documents have wildly escalated over the last few years. Transactions with total association document fees over $1,000 are not uncommon.
â€¢Largest tax delinquents now public:Commencing Jan. 1, 2012, both the State Board of Equalization and the Franchise Tax Board must periodically make public a list of the 500 persons with the largest tax delinquencies in excess of $100,000. The lists must include, among other things, each taxpayer's occupational or professional license numbers. Certain state governmental licensing entities must suspend and refuse to issue or renew an occupational or professional license for anyone on either tax delinquency list. Assembly Bill 1424
â€¢Renting out condominiums:Â Starting Jan. 1, 2012, an owner in a common interest development is exempt from any prohibition in a governing document against renting or leasing the unit, unless that prohibition was in effect before the owner acquired title to his or her unit. Senate Bill 150
â€¢Tenants smoking ban:Â Beginning Jan. 1, 2012, a residential landlord can prohibit the smoking of cigarettes and other tobacco products in a rental property. For new tenants on or after Jan. 1, 2012, the areas where smoking is prohibited must be stated in the lease or rental agreement. For preexisting tenants before 2012, a new provision prohibiting smoking is a change in the terms of tenancy that requires written notice. Senate Bill 332