April 2025 Blog
🏡 April 2025 Homeowner Update
From Pacific Grove Property Management
Dear Homeowners,
Spring is in full bloom along the Monterey Peninsula, and with it comes new legislation and operational updates that impact your investment property. This month, we’re sharing two key legal updates—AB 2747 (California’s new rent reporting law) and AB 2801 (which modifies the security deposit process). We’re also introducing our Resident Benefit Package and providing a current snapshot of the local rental market.
📦 New! Resident Benefit Package with Second Nature
We’re excited to begin rolling out our Resident Benefit Package (RBP) in partnership with Second Nature. This program is designed to enhance the tenant experience while supporting long-term property care.
One key feature: biannual furnace filter delivery. We are currently gathering furnace filter sizes for each unit so tenants can receive and install fresh filters every six months. This helps extend the life of your HVAC system and improves air quality.
That said, some of the properties we manage have furnaces located in crawl spaces or other hard-to-access areas. In those situations, we will coordinate with a handyman to handle the filter replacement, rather than having tenants access those areas themselves.
💳 AB 2747 – New Rent Reporting Law
Effective July 1, 2025, AB 2747 requires that landlords who report rent payments to credit agencies:
- Provide tenants with written notice of the reporting practice; and
- Offer tenants the ability to opt out, unless they are in subsidized housing programs that require reporting.
How we’re handling this:
Our new Resident Benefit Package includes positive credit reporting for on-time rent payments. This benefit is clearly disclosed to tenants, which satisfies the written notification requirement of AB 2747. We also provide tenants with the option to opt out, ensuring full compliance with the new law.
What this means for you:
This service encourages timely payments, helps tenants build credit, and adds value without extra effort on your part.
🛠️ AB 2801 – Security Deposit Documentation Requirements
Also effective July 1, 2025, AB 2801 updates the rules for withholding security deposit funds:
- We must provide receipts or invoices for any deductions.
- A detailed itemization must be sent within the existing 21-day deadline.
- Actual charges must be used when available—estimates alone are no longer sufficient.
What this means for you:
We are updating our move-out protocols and vendor requirements to ensure all documentation is timely and compliant. This promotes transparency and helps prevent disputes.
📈 Monterey Peninsula Rental Market Update
Here’s a current look at average rents across the cities we serve:
- Monterey: ~$2,575/month (↑ 7.3% YoY)
- Pacific Grove: ~$3,825/month (↓ 4% YoY)
- Seaside: ~$2,821/month
- Marina: ~$2,937/month
- Carmel: Typically rents above Monterey and PG, especially for single-family homes
Overall, the Monterey Peninsula remains a steady and competitive market. Let us know if you’d like a rent review for your property—we’re happy to advise.
🔧 Spring Maintenance Tip – Gutter & Drainage Check
Spring rains can reveal hidden drainage issues. We’re inspecting gutters and downspouts as part of our seasonal walkthroughs. If your property hasn’t had one recently, let us know—we’ll schedule it.
Thank you for your continued trust in Pacific Grove Property Management. If you have questions about any of these updates, your rental property, or upcoming maintenance, don’t hesitate to reach out.