City of San Diego Repeals Short Term Rental Ordinance

After several months of public upset over the recently enacted Short Term Rental Ordinance O-20977 and O-20978, the San Diego City Council held a special meeting today to determine the fate of the ordinance. The Council was put to a vote on whether the STR Ordinance should be submitted to the public for a vote in an upcoming election, or …

Introduction to 1031 Exchanges of Real Property

When you own real property, that asset will generally appreciate in value over time, particularly if you own property in San Diego. When you sell that asset, capital gains tax will be due on the sale based on the appreciated value. A 1031 exchange is the method by which a person can sell an existing investment property (“relinquished property”) and …

Coffee with Counsel: What Residential Home Buyers Should Know

Coffee with Counsel hosted by the San Diego County Bar Association Lawyer Referral Service with attorney Ashley M. Peterson of the Law Office of Ashley M. Peterson, and Seth Garrett of Allen Matkins. The attorneys discuss common issues in buying a residential property, things buyers and sellers should be aware of, and why having a team of professionals is important …

City of San Diego Votes to Restrict Short Term Rentals

After many years of indecision, the City of San Diego finally passed an ordinance to restrict short term rentals on July 16, 2018. In a 6-3 vote, short term rentals are now only permissible in primary residences, and duplexes where the owner resides in one of the units. Primary residences can be rented out for a maximum of 6 months …

For Sale By Owner – Do I Really Need An Attorney?

If you are considering selling your home without using a Real Estate Agent or Broker in order to save on commissions, there are three important things you need to know. First and foremost, you absolutely need the assistance of a real estate attorney to ensure the sale is done in compliance with all California laws. Real estate agents cannot give …

State Imposes New Recording Fee for Real Estate Documents

On September 29, 2017, Governor Jerry Brown signed into law Senate Bill 2 which added section 27388.1 to the Government Code.  As of January 1, 2018, all county recorders in the State of California are required to impose a $75 fee to be paid at the time of recording for every real estate document being recorded, and for each parcel …

City Audits for Non Payment of Transient Occupancy Taxes

Over the last year, I have received an influx of calls from clients who are being audited by the City for failure to pay their transient occupancy taxes for short term rentals conducted in their property. Many of these clients are being audited for non-payment of taxes going back to 2007 which can amount to tens of thousands of dollars …