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Tuesday, February 9, 2021
Effective February 1, 2021, the California Legislature and Governor Gavin Newsom approved Senate Bill (“SB”) 91 – Eviction Protection and Relief Act in further response to the ongoing COVID-19 pandemic. In essence, SB 91 extends core tenant protections established by August 2020’s Assembly Bill (“AB”) 3088,[1] but also establishes the State Rental Assistance Program, provides rental assistance for landlords and tenants, and closes existing loopholes in AB 3088.
Extension of Prior Legislation
Two days prior to the expiration of AB 3088, the enactment of SB 91 extended AB 3088’s residential tenant eviction moratorium until June 30, 2021, and pushed back local governments ability to adopt local rules related to nonpayment of rent to August 1, 2021. SB 91 extends the expansion of AB 1482’s “just cause” requirement, requiring all landlords to have just cause to evict[2] until June 30, 2021.
Eviction moratorium extended Funding available for tenants, landlords
Legislation signed last week by Gov. Gavin Newsom extends the state’s landmark eviction moratorium for an additional five months, protecting renters while also providing aid for landlords.
The passage of SB 91 will see the eviction moratorium extended through June 30, 2021, which was originally established last year under Assembly Bill 3088 and would have expired at the end of January.
“Once again, California is leading the way by enacting the strongest eviction protections in the nation, which will provide relief for millions of Californians dealing with financial difficulties as a result of COVID-19,” Newsom said. “This law not only provides greatly needed support for tenants, but also provides relief to small property owners in need of assistance to pay for mortgages, thanks to $2.6 billion in federal stimulus funding.”
Operator
Good day, and welcome to the Essex Property Trust Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions]
Statements made on this conference call regarding expected operating results and other future events are forward-looking statements that involve risks and uncertainties. Forward-looking statements are made based on current expectations, assumptions and beliefs, as well as information available to the Company at this time. A number of factors could cause actual results to differ materially from those anticipated. Further information about these risks can be found on the Company s filings with the SEC.
It is now my pleasure to introduce your host, Mr. Michael Schall, President and Chief Executive Officer for Essex Property Trust. Thank you, Mr. Schall, you may begin.
Gov. Gavin Newsom
–On Friday, Governor Gavin Newsom signed legislation to extend the state’s eviction moratorium through June 30, 2021. With the passage of SB 91, California leads all states by enacting the strongest renter protections in the nation.
“Once again, California is leading the way by enacting the strongest eviction protections in the nation, which will provide relief for millions of Californians dealing with financial difficulties as a result of COVID-19,” said Governor Newsom. “This law not only provides greatly needed support for tenants, but also provides relief to small property owners in need of assistance to pay for mortgages, thanks to $2.6 billion in federal stimulus funding.”