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New Real Estate Laws for 2024

By
Real Estate Agent with Santa Barbara Real Estate 00898298

The landscape of California real estate is ever-evolving, influenced by market trends, societal shifts, and legislative updates. In 2024, several significant changes have been implemented in California real estate law, impacting both buyers and sellers, as well as real estate professionals. These alterations reflect the state’s ongoing commitment to enhancing transparency, fairness, and sustainability within the real estate sector.

The following new laws went into effect on January 1, 2024, unless stated otherwise. A link is provided in this post for a 2024 New Laws chart that offers more extensive information regarding each new law.

  • Real Estate Listings are Capped at 24 Months AB 1345
  • The Natural Hazard Statement simplifies the identification of properties subject to Defenseable Space Disclosures. AB 1280
  • Flipper Disclosures for Properties Resold with 18 Months AB 968 * This law is effective July 1, 2024
  • Online Notarization by California Notaries Pending Secretary of State Certification AB 696
  • Small Claims Court Limits Increased AB 71
  • Environmental Hazard Booklet to be Updated AB 225 Reflects 3 new chapters related to Wildfires, Climate Change, and Sea Level Rise
  • Accessory Dwelling Units (ADUs) May be separately transferred as a condo – But Conditions Do Apply AB 1033
  • Landlord/ Tenant Security Deposits are limited to one month’s rent beginning July 1, 2024 AB 12
  • Landlord/ Tenant: “Ability to Pay” Screening instead of Credit History for Section 8 Tenants SB 267
  • Landlord/ Tenant: TPA (Tenant Protection Act) Eviction Procedures dramatically tightened, actual damages added SB 567
    • Streamlining
    • SB 423 (extension and expansion of streamlined ministerial approval law for affordable projects consistent with objective zoning rules)
    • SB 4 (by-right approval for affordable housing on land owned by religious organizations and higher education institutions)
    • SB 684 (ministerial approval of up to 10-unit housing projects on small sites)
    • AB 1490 (adaptive reuse for affordable housing)
    • AB 1114 and AB 281 (reforms to post-entitlement permitting)
    • California Environmental Quality Act (CEQA):
      • AB 1633 (CEQA reform for infill housing)
      • AB 1307 (residential noise impacts)
      • AB 1449 (affordable housing exemption)
      • SB 406 (financial assistance exemption)
      • SB 91 (motel conversion exemption)
      • AB 356 (Dilapidated Building Refurbishment Act)
      • SB 149 (CEQA administrative record reform)
    • Density, Land Use and Planning:
      • AB 1287 (additional density bonuses for very low or moderate-income units)
      • SB 747 and AB 480 (amendments to scale back the Surplus Land Act)
      • AB 821 (local agency obligation to resolve general plan and zoning conflicts)
      • SB 272 (sea level rise planning in Coastal Commission and Bay Conservation and Development Commission jurisdiction)
      • AB 529 (building code updates for adaptive reuse projects)
    • Accessory Dwelling Units (ADUs):
      • AB 1033 (ADUs sold separately as condos)
      • AB 976 (owner-occupancy requirements prohibited beyond 2025)
      • AB 1332 (streamlined 30-day approval for preapproved ADU plans)
    • Enforcement:
      • AB 434 (expanded Department of Housing and Community Development (HCD) enforcement authority)
      • AB 1485 (attorney general right to intervene in housing enforcement suits)
    • Anti-Displacement and Affordable Housing:
      • SB 439 (motion to strike lawsuit challenging affordable housing)
      • AB 1218 (replacement housing and relocation benefit expansion)
      • AB 911 (notification and ownership requirements for modifications to recorded covenants restricting the development of affordable housing)
      • SB 469 (exemptions from Article 34 of the California Constitution for affordable housing projects receiving specified funding)
      • ACA 1 (constitutional amendment to lower threshold for bond measures)
      • SB 789 (constitutional amendments scheduled for voter consideration at November election)
      • AB 812 (authorization of conditions of approval for affordable artist housing)
    • Financing and Costs:
      • SB 253 (carbon emission disclosure)
      • AB 1319 (Bay Area Housing Finance Authority authorizations to facilitate the production and preservation of affordable housing)
      • AB 835 (fire marshal to study safety of requirement for apartments to have more than one staircase)
    • Parking:
      • AB 1308 (no increased minimum parking requirements on single-family home renovations)
      • AB 1317 (unbundled parking for qualifying residential properties)
      • AB 894 (shared parking)

    Except where noted, the new laws take effect on Jan. 1, 2024.

    The 2024 Real Estate Law encompasses statutes and regulations that real estate practitioners should be familiar with.

    1. Regulations of the Real Estate Commissioner: These regulations provide guidance and rules related to real estate practices.
    2. Administrative Procedure Act: Governs administrative procedures related to real estate matters.

    For specific details and changes, you can refer to the official 2024 Real Estate Law Book. Real estate professionals should stay informed about these legal provisions to ensure compliance and effective practice

 

Posted by

Mark Danforth Lomas

Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

That's a lot of laws!   Follow me, I will do likewise.   :-)

Mar 27, 2024 01:39 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Again, these are pretty detailed and new ones in a lot of ways and I just hope you can adapt to whatever trends might come..

Mar 27, 2024 02:57 PM