Matt Haney July 5, 2024
Buyer
As of July 1, 2024, two new laws take effect that are notable. The first relates to security deposits for residential rentals, and the second is what many are referring to as the “Flipper Law”.
As of July 1, 2024, California has implemented a new law regarding security deposits for residential rentals. The key points are as follows:
This disclosure law applies to anyone who has owned a property for 18 months or less, not just investors or contractors. Here are the details:
Both the Transfer Disclosure Statement and the Seller Property Questionnaires were revised to include questions regarding this new law.
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