Blog – Page 5 – Lucas Real Estate

piggy bank with text reminder that property taxes due April 10, 2025

California Property Taxes: Second Installments Due By April 10, 2025

March 11, 2025
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The deadline is fast approaching! If you own property in California, your second property tax installment is due by April 10, 2025. Missing this deadline could result in steep penalties—up to 10% of your tax bill plus additional fees. Don’t wait until the last minute—make sure your payment is postmarked or received online by 11:59 p.m. on April 10 to avoid unnecessary costs.

Not sure if you’ve received your bill? It’s your responsibility to check—the county won’t remind you! Visit www.octreasurer.com to confirm your balance and payment options.

Questions about property taxes, Proposition 19, or real estate matters? Lucas Real Estate is here to help. Contact us today at info@lucas-real-estate.com or 949.478.1623.

UPDATE: March 7 2025 Executive Order Further Extends Price Gouging Protections

March 9, 2025
devinlucas

Governor Gavin Newsom’s Executive Order N-23-25, issued on March 7, 2025, extends rental price gouging protections in Los Angeles County until July 1, 2025. These protections cap rent increases at 10% and prohibit evictions aimed at re-listing properties at higher prices.

However, some properties are now exempt from HUD Fair Market Rent (FMR) calculations—specifically newly constructed units and high-value single-family homes (4+ bedrooms) in select Los Angeles ZIP codes. Importantly, these exemptions do NOT remove the 10% cap on rent increases and do NOT allow landlords to raise prices beyond prior rates if the property was rented or listed in the last year.

For landlords, property managers, and investors in Newport Beach, Costa Mesa, and beyond, these updates carry critical implications for leasing strategies, property valuations, and rental pricing. Orange County remains fully subject to price gouging laws, with no exemptions.

📖 Read our full article to understand how these changes impact your real estate business.

7 Steps to Prepare Your Home for the Spring Selling Season in Coastal Orange County

March 1, 2025
devinlucas

Spring is the perfect time to sell in Newport Beach, Costa Mesa, and Coastal Orange County! 🌸☀️ With buyers actively searching, making a few strategic upgrades can set your home apart. From boosting curb appeal and decluttering to staging for that perfect coastal vibe, these simple steps can help you sell faster and for top dollar. Thinking about listing your home this spring? Let’s chat—Lucas Real Estate is here to help you maximize your home’s value!

Investing in a Rental Property in Coastal Orange County

February 19, 2025
devinlucas

Looking to build long-term wealth? Investing in a rental property in Newport Beach, Costa Mesa, or Coastal Orange County could be the smartest financial move you make! 🏡💰 Whether you opt for a steady, cash-flowing long-term rental or a high-income vacation rental, both strategies offer reliable income, tax benefits, and long-term equity growth. Want to explore the best investment opportunities? Let’s chat—Lucas Real Estate is here to guide you!

bag of money next to up arrow and a model house (inferring housing prices going up)

UPDATE: February 2025 Executive Order on Price Gouging Protections

February 9, 2025
devinlucas

On February 4, 2025, Governor Gavin Newsom issued Executive Order N-17-25, modifying California’s price gouging protections in response to the Los Angeles and Ventura County wildfires. This order expands price gouging restrictions to all rental housing, regardless of lease length, closing a loophole landlords previously used to avoid these rules. Additionally, it temporarily suspends price gouging restrictions for high-value, four-bedroom single-family homes in select high-rent ZIP codes until March 8, 2025. Notably, Orange County remains fully subject to HUD-based rental calculations where applicable. Understanding these updates is critical for landlords and property managers navigating rental pricing in Newport Beach, Costa Mesa, and beyond.

Navigating Showings and Accessing Tenant-Occupied Property: A Landlord’s Guide When Selling Tenant-Occupied Property

February 4, 2025
devinlucas

Navigating showings and accessing tenant-occupied properties requires a strategic approach. Whether you’re coordinating open houses, dealing with an uncooperative tenant, or considering a cash-for-keys agreement, understanding the legal landscape and best practices can make all the difference. From providing proper notice to leveraging incentives for tenant cooperation, landlords have options to ensure a smooth sales process while staying compliant with California law.

7 Upgrades to Boost Your Home’s Value in 2025 – Coastal Orange County Edition

February 4, 2025
devinlucas

Thinking about upgrading your home in 2025? In Newport Beach, Costa Mesa, and Coastal Orange County, smart improvements can boost both your lifestyle and your property’s value. From luxurious kitchen remodels and spa-inspired bathrooms to energy-efficient upgrades and expanded outdoor living spaces, the right updates can make all the difference in our competitive market. Whether you’re selling soon or just want to enhance your home, these strategic upgrades will keep your property in high demand.

Want expert advice on maximizing your home’s value? Contact Lucas Real Estate today!

wooden blocks with the word "fees" spelled out.

New Screening Fee Regulations for 2025: Can I Still Charge a Screening Fee or Application Fee???

January 27, 2025
devinlucas

As of January 1, 2025, Assembly Bill 2493 (AB 2493) introduces new requirements for California landlords regarding application screening fees. This law prohibits fees if no rental units are available and mandates refunds for applicants not selected, unless specific criteria are met. Landlords must provide written screening criteria, process applications in order, and issue refunds or credit reports promptly. These changes aim to enhance transparency and fairness in tenant screening. If you own property in Newport Beach or Costa Mesa, Lucas Real Estate can help you navigate these updates and stay compliant.

Navigating Fair Market Rent Calculations During California’s Price Gouging Protections

January 27, 2025
devinlucas

Under California Penal Code Section 396, rental price increases during a declared state of emergency are limited to 10%, with the base rent determined by prior rental history or fair market rent (FMR) as defined by HUD. If a property hasn’t been rented in the past year, the allowable base rent defaults to 160% of the HUD fair market rent. The choice between county-wide FMRs and Small Area FMRs (SAFMRs) depends on local market conditions, with SAFMRs providing more granular, ZIP code-specific data.

judge hammer with "2025" in blocks - new laws for 2025

2025 Landlord-Tenant Law Updates: Key Changes and Compliance Tips For California Landlords

January 19, 2025
devinlucas

New landlord-tenant laws for 2025 include critical updates on application screening fees, tenant credit reporting, security deposit requirements, and lock-change protections. Key provisions include mandatory refunds for unselected applicants, expanded photo documentation for move-in and move-out inspections, and tenant options for reporting positive rental payments to credit agencies. These changes have particular implications for landlords in Newport Beach and Costa Mesa. For expert advice and property management services tailored to help you navigate these updates, contact Lucas Real Estate.