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Archive for March, 2013

Landord Ordered to Pay Double Damages Over Security Deposit – By CD Publications

Posted on 11. Mar, 2013 by .

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[Editor’s Note:  Landlord Law & Multi-Housing Report includes expert analysis of the latest legal developments in the rental housing sector as well as news about the multi-housing market, landlord-tenant relations and successful management strategies.  Rental housing laws vary from state to state and some may not be applicable to California; however, most cases contain valuable lessons for housing providers.]

New Jersey.  The landlord owes his tenant double the amount of the security deposit he improperly retained plus attorneys’ fees but does not have to return the full deposit [...]

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Something to Think About #6: Loans and Locations – By Klarise Yahya, Commercial Loan Broker, DRE: 0095710 MLO: 249261

Posted on 01. Mar, 2013 by .

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LOANS                     

Lenders are risk adverse and have long memories. By now they’ve pretty much learned that there are some places where they have more loan losses and some places where they have fewer. Loan losses are minimized in “preferred” areas where there is the expectation of continued high demand. That means that if (in lender’s terms, “when”) the borrower gets into trouble, the building can [...]

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Save Proposition 13! What Taxpayers Should Know About Brown’s Budget – By Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Mar, 2013 by .

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We’ve always thought it a bit odd how every January, when the Governor releases the proposed state budget for the following fiscal year, there is barely a drop of ink used by the main stream media about the impact to citizen taxpayers. Sure, as a spending document, the interests that receive government largesse – welfare, education, prisons – are going to have something to say. But what about the poor folks who actually pay [...]

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Tenants Booted For Daily ‘Babysitting’ Daughter’s Pooch – By CD Publications

Posted on 01. Mar, 2013 by .

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[Editor’s Note:  Landlord Law & Multi-Housing Report includes expert analysis of the latest legal developments in the rental housing sector as well as news about the multi-housing market, landlord-tenant relations and successful management strategies.  Rental housing laws vary from state to state and some may not be applicable to California; however, [...]

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MRLANDLORD.COM TIPS ON MANAGEMENT

Posted on 01. Mar, 2013 by .

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 27 Landlord “Never Agains”

 Once a landlord has been in business a while and learned a few things “the hard way” there often comes a point where he or she stops and makes the declaration, “NEVER AGAIN!” Well, the following is a list of those shared by landlords nationwide to help them avoid very costly problems in 2013.    [...]

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The Tax Man Cometh for Your Real Estate Income! – By Jenee Hilliard

Posted on 01. Mar, 2013 by .

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As part of the financing of Obama Care, Congress created Internal Revenue Code Section 1411, which created a new 3.8% Medicare tax.  The new Medicare tax took effect on January 1st and will apply to net investment income of individuals with a modified adjusted gross income of at least [...]

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You Can Avoid Lawsuits with Good Tenant Relationships – By Hub International

Posted on 01. Mar, 2013 by .

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Investing the time and money required to maintain and cultivate a positive working relationship with your tenants can be the difference between amicably discussing and settling differences and a costly lawsuit. Working on the relationship also creates [...]

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Legal Q & A Abandonment of Personal Property – by Franco Simone, Esq.

Posted on 01. Mar, 2013 by .

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Q:  I served my tenant with a three day notice to pay rent or quit and he moved most of his belongings out during the three day period but he did leave some of his personal property behind.  What am I required to do with the things he left behind?

When a tenant leaves property behind after termination of the tenancy, the landlord may consider the items abandoned property.  How the landlord disposes of the abandoned property depends upon the value of the property.  If the property is valued at less than $700 the landlord [...]

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Letter to the Editor…

Posted on 01. Mar, 2013 by .

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Rent Control Hurts Everyone

Dear AOA:

Peter Reitz, in his November 2012 article “Rent Control”, is quite right that rent control is an illegal taking of the landlord’s assets. Costs continue to rise, but the allowed rent doesn’t keep up with the costs. Suddenly the landlord is working for nothing. He may even be losing money and nobody cares as long as he continues to provide accommodation.

Nobody should waste much time or money trying to get liberal judges to stop ingratiating themselves with tenants by giving the landlord’s assets [...]

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Housing Discrimination Case Costs Owners Over $10.5 Million Dollars! By Jo Becker

Posted on 01. Mar, 2013 by .

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On June 25th, 2012, the Department of Justice (DOJ) announced its largest ever disability related settlement that also included the departments largest civil penalty in any Fair Housing Act (FHA) case.  The case was one that centered on the FHA’s disability protections and design and construction requirements and was settled for a record $10.5 million dollars.

Below is an excerpt from the DOJ’s media release detailing the case. If you build, own, manage or sell (or represent someone who builds, owns, manages or sells) multifamily housing, you need to know about FHA’s design and construction requirements. Note that these requirements for properties with four or more units per building built since 1991 are separate, distinct and in addition to the Americans with Disability Act and local building code requirements.  You should know that county code enforcers and permitting offices do not enforce the FHA’s design and construction requirements; it’s simply not their purview.  To learn more, visit www.FHCO.org/dc.htm. [...]

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