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Archive for July, 2015

Landlording 101 – Tricks of the Trade – Looking Inside Your Tenant’s Mind – By Dan Auito

Posted on 26. Jul, 2015 by .

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It goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own. Notice that your needs come after your tenants. Always put your tenants’ needs before your own and they will buy real estate for you in return. That’s a fair trade. Take it! [...]

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Legal Q & A – By Richard Beckman, Attorney

Posted on 01. Jul, 2015 by .

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Question 1: Has San Francisco changed its ‘Ellis Act’ relocation payment law again? [...]

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Legal Q & A – by Dennis Block, Attorney

Posted on 01. Jul, 2015 by .

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Question One: I have a tenant in Los Angeles, under rent control, who is a hoarder. She has stacks of boxes, newspapers, clothing and other items throughout her unit. Some of the rooms are so filled with items, that the room literally cannot be accessed. I have previously written to her demanding that this must be cleaned up. To date, she has ignored my requests. How should I handle this matter? [...]

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California’s New Sick Leave Law Starting July 1, 2015 – By Dale Alberstone, Esq.

Posted on 01. Jul, 2015 by .

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Hello everybody.  I am hopeful that AOA members recall from my discussion in the March 2015 issue of this magazine that effective July 1, 2015, California’s new sick leave law comes into effect.  In general, it provides that every employee in the State of California who works more than 30 days per year is entitled to a minimum of three days or 24 hours of paid sick leave each year.  [...]

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HJTA Initiative Would Make Housing More Affordable – By Jon Coupal

Posted on 01. Jul, 2015 by .

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As part of an ongoing effort to help those who struggle to keep a roof over their heads, the Howard Jarvis Taxpayers Association has filed an initiative that would increase the homeowners’ exemptionand the renters’ tax credit. This is the first step in qualifying the initiative, the California Homeowners and Renters Tax Relief Act of 2016, for the ballot. The Office of the Attorney General has about 60 days to provide a title and summary so that signature gathering can begin. [...]

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Want a Raise … In Taxes? – By Jon Coupal

Posted on 01. Jul, 2015 by .

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 Proposition 13 was created to strictly limit what’s called your ad valorem property tax – the tax linked to the value of your home when you bought it – the amount that appears “above the line” on your property tax bill. [...]

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Federal Legislation Threatens 1031 Exchanges – By Jade Bossert

Posted on 01. Jul, 2015 by .

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IRC 1031 allows owners of investment property to defer capital gains taxes, on the sale of property, so long as another investment property is purchased per the rules of the IRC 1031.

Tax deferred exchanges have long been utilized by apartment complex owners to defer taxes and build their investment portfolios.  Many owners of multifamily portfolios initially bought their first apartment complexes by exchanging single family rental house(s) for multifamily properties utilizing [...]

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Seismic Retrofit Financing and Tenant Pass-Throughs – By Deborah Lopez

Posted on 01. Jul, 2015 by .

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As building owners move forward with implementing the Mandatory Soft Story Retrofit (MSSR) program, there may be some confusion about the financing programs and pass-through allowances available for the costs of complying with the program. [...]

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BREAKING NEWS: IRS Announces Imminent Limitations on Use of Discounts to Save Estate Taxes! – By Attorney Kenneth Ziskin

Posted on 01. Jul, 2015 by .

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In mid-May, 2015, a senior Treasury Department Estate and Gift Tax attorney announced that the government will soon issue regulations that will limit, or even eliminate, the ability to use “discounts” to save estate taxes for your family.  She projected that the IRS would adopt (or propose) these new regulations before the end of September, 2015.  Experts believe the effective date will probably be the date the rules are announced, or shortly thereafter. [...]

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Five Ways to Keep Good Tenants – By Robert Cain

Posted on 01. Jul, 2015 by .

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How much does it cost to find a new tenant? We lose at least a month’s rent. Then there’s the advertising and marketing costs, the trips to the property for showings, the time spent screening. After that, we endure the aggravation, the no-shows, the no-way-I-would-rent-to-them applicants, and the stress over no rent to cover the mortgage. It’s much more cost-effective and less stressful to keep the good tenants we have. Here’s how. [...]

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