New Year, New Rules

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Every year, a ton of new laws take effect in California, including some that could impact your personal and household finances. Here’s a rundown of the changes from Patch California. Keep reading for our takes on some that might get missed…

CHIC (Pearl)

A number of the new rules have to do with consumer protections, including SB 1490, which requires food delivery platforms like DoorDash and Uber Eats to provide an itemized breakdown of their fees. This law also allows restaurants to remove themselves from delivery apps they never intended to use. And if you’re tired of following the breadcrumbs to cancel subscriptions you no longer want or need, it will be easier starting July 1 thanks to AB 2863, which requires companies like gyms and streaming services to let customers cancel their subscriptions in the same way they subscribed — more often than not with a single click.

GEEK (Kevin)

If you’re a mobile home owner who’s been battling with your HOA or park ownership over solar panels, then SB 1190 should help. This new law clearly stipulates your right to install a solar system just like any other homeowner in an HOA. (A loophole in a 1978 law previously allowed park owners to block you from doing so.) And in other news that could save you money, SB 1061 ensures medical debt is removed from your credit report so you’re “not penalized for the high costs of necessary healthcare," as the Governor’s office said. This law will also prevent lenders from using medical debt against you to deny a loan.

New rules.

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You may have heard about the court ruling that went into effect August 17th prohibiting brokers from cooperating to set their commission rates and providing more transparency and security for homebuyers as well as sellers. We take a look at what this means on the ground.

CHIC (Pearl)

Under the new rules, every National Association of REALTORS® (NAR) agent is required to sign a Buyer Representation Agreement formalizing the relationship between parties before touring a single property. Additionally, properties listed via a Multiple Listing Service (MLS) are no longer permitted to include an offer of compensation to the buyer’s agent in any form or fashion. Buyers can still accept concessions from the seller, such as offers to pay closing costs, and they can still negotiate with sellers to have them pay all or a portion of their agent’s compensation.

GEEK (Kevin)

Like Pearl mentioned, under the new rules, properties on an MLS can’t include an offer of compensation to the buyer’s broker. However, some services allow sellers to communicate to buyer agents that they are open to making concessions. Concessions are generally a credit to the buyer at closing to use for whatever they need — paying closing costs, paying their agent, or covering unexpected repairs. Sellers can also negotiate with the buyer over paying the listing broker’s compensation. This can be in addition to or in lieu of other requests for concessions.

The Longest Day

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With the summer solstice arriving on Thursday, we’re gearing up for the longest day of the year and debating the best backyard traditions to enjoy with family and friends!

CHIC (Pearl)

If you read our posts regularly, you know I love to entertain. So this summer, you’ll find me setting up the string lights, popping a bottle of sparkling wine, and calling some friends for a backyard soiree. It’s my way of celebrating this place we call home, where you can sit outside at night in late June and not get cold!

GEEK (Kevin)

I’ll bet you thought I was going to go with barbecue. Okay, so I’m going with barbecue. I mean, what else is there to do when the sun is out until 8:30pm and you have a few pounds of meat in the fridge that somebody (not saying who) brought home from Costco? Clean your grill, fire up the coals, and let the sizzling commence!