San Diego is losing money on expired leases

<p>Today on the Southern California Real Estate Report we talk about a new audit that does not look favorable on the way the City of San Diego handles its Real Estate assets.</p><p>Nearly 25% of the City's leases are expired. This means the City is not renegotiating those leases at current market rents which is depriving the City of additional rental income.</p><p>The City is also not inspecting their properties making them unaware of of how the properties are running and maintenance problems that might be occurring.</p><p></p><p>Article referenced for this podcast from the Union Tribune. Linked below: https://www.sandiegouniontribune.com/news/politics/story/2022-03-01/audit-criticizes-how-san-diego-handles-its-80m-in-annual-leases-its-likely-forgoing-millions</p>