President's Message
By Todd Brisco

What’s Hot at the Association

In keeping with this issue’s theme "What’s Hot, What’s Not" the most impactful aspect of 2010 are the newly elected officers of the Board of Directors.

Assisting me with my presidential duties again this year will be Elaine Hutchison of Paragon Equities who will serve as Administrative Vice President.

Our Government Affairs Council will be divided into Federal Government Issues headed by Malcolm Bennett, State Legislative Committee co-chaired by Carol Chen of Prudential California Realty and Kari Negri of Sky Properties, and Local Government Affairs chaired by Marial Sanders of Western Property Management.

Brad Ward of Ward’s Appliances and an independent property owner will serve as secretary while Kurt Wood of Belmont Brokerage and Management will serve as treasurer. Paul Menezes will continue as parliamentarian and Ed Arnold will serve as membership chairman.

Bill Moseley of CUBS will oversee the PSC this year and Lucille Aresco-Crowley of Beach Front Property Management will chair the MSC. Co-chairs for the Education Committee will be Burt Sirota of the Apartment Finder and Brandon Grey of Essex Property Trust. Evelyn Arnold of Century 21 Excellence will serve as PAC chair.

Our for-profit, wholly-owned subsidiary, OCAJ, will have the following leadership team: President Clive Graham, Vice President Leonardo Wilborn, Secretary Steve Bogoyevac and Treasurer Kirk Davey.

I look forward to working with each of these dedicated individuals this year.

Also “hot” at AACSC this year is our involvement with the National Apartment Association. Our new affiliation with NAA brings many benefits to you, our members, beginning with educational opportunities (online learning) and a subscription to “Units” magazine, as well as excellent advocacy in Washington, D.C.

You are invited to participate in the 2010 Capitol Conference of NAA March 7 – 10 in Washington, D.C. “Make Your Voice Heard” is the theme of the conference where all affiliate members are invited to meet with Congressional delegations, lobby for our industry and learn first hand about our government in action.

Although the meeting is complementary, attendees are responsible for their own transportation and accommodations (Omni Shoreham @ $269 per night single/ double occupancy). Attendees must register in advance by February 9th online at www.naahq.org/events/CapConf.

What's Not

Members are reminded that if they manage California property for an out of state owner, the California Franchise Tax Board requires him/her to withhold seven percent of the net rents. Beginning January 1st of this year the withholding must be submitted each quarter with a Form 592. Failure to do so will incur penalties payable to the FTB.

The amount that you are required to withhold must be submitted each quarter to the FTB with a Form 592. Before the end of January of the following year, the property manager is required to deliver to the owner a Form 592-B showing the total amount withheld during the preceding year.

There are certain non-resident owners who may qualify to avoid withholding, including, for example, ownership entities qualified to do business in California, owners with a permanent place of business in California and owners who have obtained a waiver from the FTB. In order to avoid paying fines and/or penalties, property managers may request that the owner obtain a Form 590 or Form 588 that serves to permit managers to avoid withholding money otherwise required by the FTB.

Should you have additional questions please see FTB Publication 1017.

Form copies are available online:

FTB Form 590 – Withholding Exemption Certificate

http://www.ftb.ca.gov/forms/2009/09_590.pdf

FTB Form 588 – Nonresident Withholding Waiver Request

http://www.ftb.ca.gov/forms/2009/09_588.pdf

• Federal Legislative Committee
• State Legislative Committee
• Local Legislative Committee
• PAC (Political Action Committee)
• Education Committee
• Management Service Council (MSC member)
• Product Service Council (PSC member)
• Golf Committee
• Trade Show Committee
• Forms Committee (changes as dictated by law)
• Legal Committee (determines AACSC participation in legal challenges)
• Membership Committee