Author: veritasinv

Veritas Announces New Hardship Waiver Program for San Francisco Renters

Posted on September 24, 2019

Veritas, San Francisco’s Premier Operator of Rent-Controlled Housing, works with Board of Supervisors to expand rent-relief program for most vulnerable residents citywide

SAN FRANCISCO — Veritas Investments today announced the launch of the Expedited Hardship Waiver Program, which immediately waives passthrough charges resulting from Operating & Maintenance expenses (O&M) as well as from Capital Improvements (Capex) and voter-approved bond initiatives for Veritas residents with a particular hardship or situation that makes such increases difficult or impossible to absorb. In addition to this new program, Veritas is also voluntarily waiving all accumulated O&M charges up until the Rent Board certification for petitions filed after December 11, 2017.

While San Francisco regulations allow owners who repair and improve their properties to seek increases to offset a minority portion of those costs, this new Veritas program waives that increase at Veritas properties citywide for those residents with a qualifying hardship.

The rollout of this new citywide program follows a smaller test with several Veritas properties within District 5 and District 3.

“As the largest operator in San Francisco, we understand our responsibility to our residents and communities. Veritas is committed to the well-being of our residents and especially to those who are most vulnerable in this tight housing market,” said Yat-Pang Au, CEO of Veritas Investments. “We recognize the potential impact these expenses might have on residents and we will continue to find ways to help residents who need additional support and preserve affordability in San Francisco.”

Residents who feel they cannot afford an O&M, CapEx, or bond related increase and may qualify for hardship exemption may first contact GreenTree to put a hold on any eligible charges. Next, the resident should file a hardship application with the Rent Board.

Even though passthrough expenses may cause rents to slightly increase, they do provide significant benefits for residents, ranging from urgent and required items like earthquake retrofits and life-safety repairs, to ongoing repairs such as water, electrical, infrastructure and general maintenance to revitalize and restore aging properties.

Residents for whom these increases pose an economic hardship should either reach out to GreenTree, Veritas’ property management operator, at 415.968.1806 or hardshipwaiver@greentreepmco.com to place a hold on any related charges. The waivers will be immediately granted, subject to later verification.


Over 11 years of Giving Back in San Francisco

The new hardship waiver program is the latest in a series of commitments Veritas has made to its residents and community. Recently, Veritas’ employees volunteered over 500 employee hours and collected more than 3,500 gallons of trash while working to clean up the Mission District. Veritas has also joined Pledge 1%, a national social impact initiative, in which the company gives back 1% of its time and resources, integrating philanthropy into its corporate DNA. As part of its Pledge 1% investment, Veritas’ employees will volunteer over 3,000 hours in the coming year to support causes and non-profits in the San Francisco Bay area and beyond.


Are you a resident who may qualify for the Expedited Hardship Waiver program?
Click here for more details.

Veritas’ Cleanup Drive in the Mission: 100 Staff, 3,500 Gallons of Trash, 1 Mattress

Posted on August 29, 2019

More than 100 Veritas Investments staff members swarmed San Francisco’s Mission District on August 22 for the company’s annual volunteer day, picking up dozens of bags of trash, not counting what they dumped in trash cans.

“We come together today as a company to work together for the common good of this beautiful neighborhood,” said Veritas founder and CEO Yat-Pang Au in a pep talk to start the day in sun-dappled Dolores Park. Au reminisced about when he bought his first building just blocks away, noting that the park was a family destination.

Au also announced the creation of Veritas Spark to formalize the company’s charitable efforts. “We chose the word ‘spark’ because it represents change. One small spark can ignite a wave of positive change,” he said.

Armed with trash pickers, orange bags and blue gloves to match their teal “Veritas Spark” T-shirts, the group broke into 10 teams to spiff up the area bounded by 15th and 24th streets and Dolores Street and Potrero Avenue.

The Veritas team was the largest of its kind to date, said Jeff Winkle, an organizer of The Clean Mission, which organizes such clean-ups around the City. Everything — except dangerous items — was fair game for the clean-up, and everything else was out there. One group found the leg for a mattress frame; another scored big: an entire mattress.

In the end, Winkle reported that 3,587 gallons of trash vanished from the streets of the Mission, thanks to Veritas Spark.

“It’s awesome,” said Diana Sonn, who lives on 15th, as she watched the Veritas staff at work. “You don’t want to live in filth.”

Giving back to the community has been a core value for Veritas, Au mused as he scooped up a pair of pants discarded in the middle of Dolores, about three blocks from where he acquired a building in 2007. The firm is now one of the largest apartment companies in the city.

“This means giving back to the unique and diverse neighborhoods where we live and work. It also means supporting the people who make the city so unique and diverse,” he said. This year alone, the company’s Spark campaign has:

  • Supported the American Red Cross’s Home Fire Safety campaign with our time and donation to the “Sound the Alarm, Save a Life” program.
  • Embraced LGBTQ diversity and history with the reinstatement of 324 Larkin Street as the Rainbow Flag Apartments.
  • Supported important cancer research of the City of Hope.
  • Purchased and packaged hygiene kits for at risk-youth at the Larkin Street Youth Foundation.
  • Made Clothing donations to Casa de las Madres and Larkin Street.
  • Dished up monthly lunches at St Vincent’s.

“This is what a caring-company does,” Au said. “And this company really cares.”