fbpx
Call Us Today: 661-846-2112

πŸš— Discussing the Recent Parking Bill πŸš—

By in blog with 0 Comments

Watch this post!

Listen to this post!

All right what we’re looking at is the development of new spaces. Right now, there is a bill that was just passed which was able to lower the restrictions for parking and decrease the price of parking spaces. The article that we’re talking about mentions that parking spaces generally will cost 10 to $60000 of space. Moving forward, they’re actually trying to lower that cost and then lower the restriction for parking as well. And that’s because in California, we have a problem with housing shortage and affordability. And so if we are able to increase the supply of units by making it easier for already developed units to be able to be reused into something that can be turned into a unit, then you increase the supply, which decreases the demand and inherently is going to give you a more stable price structure as well. And so we do understand what they’re doing. This parking will actually probably be lessened moving forward. You will have these issues of having enough parking. Already, if you live in a big city, you already know about the parking issues. So it could get a little bit worse for you, but there will be more units, so hopefully you’ll be able to live a little closer to public transportation or things that you actually need to get to you. So thanks for listening. Take care.

Quick Links – Synergy Real Estate & Property Management

Watch this post!

Listen to this post!

Share This
About The Author
Sanjeev Advani

β€’ Hundreds of Investment Real Estate transactions successfully closed β€’ 350+ Units currently under Property Management β€’ 3+ Years of Construction Management Experience β€’ Certified Property Manager, CCIM (In Progress) β€’ Bachelors in Finance β€’ Bakersfield, CA Native Deep Dive: I have been licensed in real estate for almost 10 years, and I have been specializing in investment and commercial real estate for the past 6 years. Through the years I have worked with Real Estate Developers, Investors, Average Joes, and many more. I am a Bakersfield native, and my educational background is in Finance. I have just completed the CPM (Certified Property Manager) certification which is one of the most prestigious designations in the Property Management Industry, with less than 1800 members world wide. I am also the President of the Board for Habitat for Humanity Golden Empire, the Vice President of the Board for Income Property Association of Kern County (IPAK), and Vice Chair of the Commercial Investment committee at the Board of Realtors. I look forward to working with you towards your real estate investment goals. Sunny Advani California Agent Lic# 01869863 | California Broker Lic# 02012941 Email: Sunny@RE-Synergy.com | Phone: +1 661 235 5726