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Archive for September, 2016

Important Notice for Alameda Landlords

Posted on 27. Sep, 2016 by .

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Alameda Rent Program – Notices and Materials to be Provided to Current and Prospective Tenants 

The Alameda Rent Program Information Brochure relating to Ordinance 3148 is now available for landlords to distribute to current and prospective tenants.  By October 15th, 2016, Landlords are required to provide the web link to the INFORMATION BROCHURE or provide a paper copy – unless the tenant requests a paper copy, then the landlord must provide a paper copy.  Prospective tenants must also receive this brochure, along with items 1-3 listed below, under Section 6-58.20 of Ordinance 3148. [...]

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What is the Value of a Single Lease Renewal? – By John Wilhoit, Jr.

Posted on 01. Sep, 2016 by .

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Whether you operate a shoe shine stand or a multifamily property, your business is built on renewals, or re-occurring income from existing customers.  In multifamily, a high percentage renewal rate makes for a much more predictable income stream.

The value of a lease renewal can be quantified.  Granted, while different for each property, the amount is one that has a direct impact on asset value, particularly when multiplied by their effect on year-over-year Net Operating Income.  [...]

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Rental Properties: How to Cut Maintenance Costs by 25% – by Doug Smith

Posted on 01. Sep, 2016 by .

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Current market conditions have made investing in long-term rental property more appealing than ever. If you buy a few rental properties and self-manage them, you’ll have several duties (in addition to cashing checks). One of the biggest is trying to keep your maintenance costs as low as possible. [...]

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Inspecting Rental Units to Combat Habitability Claims -By Eviction Attorney, Michael A. Brennan

Posted on 01. Sep, 2016 by .

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Any landlord who has done an eviction knows that tenants always claim the landlord breached the “warranty of habitability” as a defense to an eviction. In order to be successful, a tenant must prove four elements; 1) A substantial defect existed in the rental unit; 2) the landlord had either actual or constructive knowledge of the condition; 3) the landlord failed to remedy the condition; and, 4) the tenant neither substantially contributed to, nor substantially prevented the landlord from fixing, the condition. Sounds fairly simple, right? So why [...]

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Bubbles All Around! by Bruce Norris

Posted on 01. Sep, 2016 by .

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Definition of a bubble: “When no other intelligent investor will pay you what your asset is currently worth.”

I recently talked to a packed crowd at the latest AOA. meeting. It was standing room only; wall to wall. Hmmmm, I wonder what’s going on? So I made the statement, “You guys are either really excited or really concerned, which one is it? The question asked by a person up front, “Are apartment values in a bubble?, confirmed my suspicion.  [...]

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Legal Q & A – by Richard Beckman, Attorney

Posted on 01. Sep, 2016 by .

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Question 1: We discovered that our tenant has sublet a room in the apartment. This is a breach of her contract. We are trying to figure out how to deal with this situation so we will not be legally bound to a contract with this subtenant, if the current tenant moves out. We were thinking of doing one of the following scenarios, but we want to confirm these will accomplish our goal or allow us to increase the rent, if we can’t remove him from the occupancy. [...]

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Rental Property Management – It Will Make or Break Your Rental Property Investment Business – By Mark Petrelis

Posted on 01. Sep, 2016 by .

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Don’t get freaked out about the term “rental property management”, it sounds threatening but all it really means is: 

A Game Plan to Keep Your Rentals Headache Free, Cash Flow Animal

Does that sound a little better than rental property management? You better believe it does and guess what. Managing rental apartments is simply a matter of having the proper mind set and doing some planning in advance. [...]

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“’Right to Vote on Taxes” Case Now Before California Supreme Court – By Jon Coupal, President of the Howard Jarvis Taxpayers Association

Posted on 01. Sep, 2016 by .

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Earlier this year, the California Supreme Court agreed to hear a case that could determine whether the right to vote on local taxes, which is constitutionally guaranteed by both Propositions 13 and 218, will cease to exist. [...]

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Service Dogs and Support Animals: Here is What You Need to Know! – By Dale Alberstone, Esq.

Posted on 01. Sep, 2016 by .

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Flying home on American Airlines this past July on a six hour leg from Boston to Los Angeles, the woman seated next to me placed her small Poodle on the airplane’s cabin floor just in front of her feet.  After I made a few comments to her about how cute her puppy was (although it could have used a good bath), she volunteered that “Foxy” was a “service dog.”  While the lawyer in me tended not to believe that, I refrained from inquiring, “Oh really?!  What type of service does your dog perform?” [...]

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Fed Votes Unanimously to Leave Rates Unchanged

Posted on 01. Sep, 2016 by .

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To almost no one’s surprise, the Fed voted not to raise its key short-term interest rate in June. While a number of Fed officials were vocal about raising the rate, the very disappointing May unemployment report on June 3, which showed the economy produced only 38,000 new jobs last month versus a projected 160,000, dashed any hope of raising the Fed Funds rate in June. [...]

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