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San Francisco’s new “COPA” Law could turn Owners of 3+ Unit Buildings into, um, Sausage

“Coppa” with two “p’s “ is a delicious dried pork salume of Italy and Corsica.  “COPA” is a new SF law that requires owners of buildings with three or more residential units to give a right of first offer and a right of first refusal to a designated set of non-profits before they can sell their building to a third party.  If a seller fails to comply with the statutory requirements, they may well feel that they’ve been through the COPA meat-grinder.  Penalties can include disgorgement of profits and a fine equal to 10% of the sale price they received. ...  Additional Details

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The San Francisco Rental Market and Why It Matters

For starters, the most recent US Census Bureau estimate (2014) concludes that about 57% of San Francisco’s population are renters.  That’s reason enough, especially when housing affordability is perhaps the major social and economic challenge that San Francisco faces over the long-term.

Rent and Condo Conversion Control.  With strength in numbers comes political power: San Francisco’s Rent Control ordinance applies to the vast majority of San Francisco’s housing stock, regulating everything from the rental increases that landlord’s can charge to existing tenants to how much interest owners have to pay renters on their security deposits.  Other ordinances have severely restricted the ability of owners to “remove” units from the rental market by converting them to condominiums.  Regardless of whether you think these controls are a good or bad idea, they have created an incredibly complicated legal landscape.  Whether you’re a tenant or an aspiring landlord, it pays to know your rights.  Here’s my favorite cheat sheet, courtesy of the Law Firm of Bornstein & Bornstein. ...  Additional Details