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Archive for April, 2012

Why Smart Meters Are Not Smart For You! – by Ellen and Tobie Cecil

Posted on 30. Apr, 2012 by .

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Introduction to Smart Meters As Pacific Gas & Electric (PG&E) in Northern California along with Southern California Edison (SCE) and San Diego Gas & Electric (SDG&E) in Southern California roll out a combined total of 11.7 million new electric and 10.6 new, gas Smart Meters (so-called), we as a property management team see Californians’ Constitutional […]

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Turn Your Dreams in to Your Goals – by Ernest F. Oriente, The Coach

Posted on 30. Apr, 2012 by .

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On February 9, 1996 I was fired for personal reasons from an executive position with a large sales organization within the multifamily industry.  For some, this day would be considered the day a large door was slammed shut. Instead, I will always remember this date as the day 1000 windows were opened!  On this day […]

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Working with Residents During Tenancy: What You May Not Have Considered – by Julie Johnson

Posted on 30. Apr, 2012 by .

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There are many different scenarios that can happen during tenancy.  Here are a few with tips on how you may want to consider handling them. Making Exceptions If you need to make an exception when implementing the rules, make sure you document exceptions carefully.  For example, if you decide not to charge a late fee […]

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The New Estate and Gift Tax Act – by Jeff Reed

Posted on 30. Apr, 2012 by .

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On December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Act), revising the income, estate, generation-skipping transfer (GST) and gift taxes for 2010, 2011 and 2012. For 2010, the Act retroactively imposed an estate tax at a 35% rate with a $5 million exemption […]

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Home vs. Business Expenses and Tax Deductions for Landlords – by Completelandlord.com

Posted on 30. Apr, 2012 by .

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No matter what anybody tells you, you cannot deduct personal, living or family expenses as business expenses.  The IRS is committed to keeping your business expenses separate, despite a rise in fraudulent home-based business tax schemes.  The IRS noted that the following examples are not considered ordinary and necessary expenses to run a business:

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Apartment Insurance Costs Increase for the First Time in Four Years – by the National Multi Housing Council

Posted on 30. Apr, 2012 by .

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The cost to insure apartments rose slightly in 2011, the first time in four years, according to the National Multi Housing Council’s annual Apartment Cost of Risk Survey (ACORS). The survey, which is based on data covering 750,000 units operated by 57 apartment firms, shows the average (nonweighted) total cost of risk (TCR) rising 1% […]

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Letters to the Editor¦

Posted on 29. Apr, 2012 by .

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Dear AOA: I had missed a few issues of the monthly magazine after moving to Arizona.  This may have been due to our unsecured street mail box.  When I realized that I had not been getting the magazine, I called AOA and spoke to Shelly.  I explained what had happened and also provided her with […]

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Failure of Leadership in the Rent Stabilization Revision – by Michael Millman, Esq.

Posted on 29. Apr, 2012 by .

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Below is an open letter sent to Mayor Villaraigosa. Dear Mayor Villaraigosa: Approximately six years ago, the L.A. City Council arranged for the Economic Round Table Group to investigate the feasibility of continuing with rent control within the City.  The Council allocated $1,000,000 for the report.  The report was issued and apparently, Mercedes Marquez failed […]

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The Tax Planning Countdown to 2013 Starts Now! – by Cliff Hockley

Posted on 29. Apr, 2012 by .

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As we begin 2012, all real estate investors need to pay very close attention to the ever changing tax landscape.  Particular attention needs to be paid to the significant tax increases slated to occur in 2013.   Investors considering whether or not to sell and pay their taxes, or sell and 1031 exchange, must consider the […]

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Is Your Fire Protection System in Compliance With the Fire Department or Your Insurance Company? – by CV Fire Protection, Inc.

Posted on 29. Apr, 2012 by .

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The National Fire Protection Association (NFPA) requires that all fire protection systems be inspected, tested and maintained periodically in order to ensure a reasonable degree of protection of life and property from fire. It is your responsibility to perform all other periodical inspections and testing of the fire sprinkler system. An “Annual Test” will provide […]

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The American Dream Redefined “ An Opportunity for Landlords! – by Drew DeMasters

Posted on 29. Apr, 2012 by .

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New government data in January 2012 showed that America is more and more becoming a nation of renters. The Commerce Department reported that just 66% of U.S.homes was occupied by their owners in the fourth quarter of 2011.  That’s the lowest level of home ownership since 1998. So, is the American Dream of owning a […]

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MRLANDLORD.COM Tips on Management 26 Ways to Keep Residents Longer in 2012 – by Jeffrey Taylor

Posted on 29. Apr, 2012 by .

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1) When screening residents, length of employment and rental history are the biggest predictors of Longevity. 2) Give them market rent or just below it. 3) Respond to resident calls in a timely manner, and take care of the property. 4) Have nicer places and better service than the other landlords in the same area. […]

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What is Adverse Action Notice and When Must You Provide One? – by Ilse Cordoni

Posted on 15. Apr, 2012 by .

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If you reject a tenant solely or in part upon the information in the prospective tenant’s consumer credit report and/or on the credit score, current California and Federal laws require that you provide the applicant with an Adverse Action Notice in writing. If you reject an applicant on other grounds, for instance, a poor recommendation […]

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There’s No Time Like the Present: When Prices Hit Rock Bottom, The Smart Get Investing – by Samantha Murphey

Posted on 15. Apr, 2012 by .

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‘s obvious that the real estate market is suffering.  But whether it has hit rock bottom is a subject of debate.  Is the worst behind us?  Or is it yet to come? According to real estate investment guru Dean Graziosi, debating whether the market is at its lowest right now will cost you the opportunity […]

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An Exit Strategy That Defers Tax Liability and Increases Cash Flow – by Anne Baber, Investment Real Estate Broker

Posted on 15. Apr, 2012 by .

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And this too, dear, shall pass¦.(Dollie Riviere, my Grandmother) The National Economy The US economy ended last year on firmer footing with modestly stronger growth; however, output fell short of what analysts expected. The gross domestic product rose at a 2.8% annual rate in the fourth quarter, but failed to reach the 3% rate that […]

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Los Angeles City Rent Stabilization – Reminders and Updates – by Patricia A. Harris

Posted on 15. Apr, 2012 by .

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Hopefully, if you own in the City of Los Angeles, you have already paid your building’s registration fees of $24.51 per unit which was due by February 28, 2011.  Yes, the City raised the annual registration fees again!

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Forecasts and Trends – by Gary D. Halbert

Posted on 15. Apr, 2012 by .

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Marginal Tax Rates vs. Effective Tax Rates With the Republican presidential primaries in full swing, we’ve seen a lot of attention focused on the income tax rates paid by the candidates. In a debate earlier this month, Mitt Romney, who is very wealthy, commented that he thought his income tax rate was around 15%. This […]

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An Exchange of Opinions #25: Charity – By Klarise Yahya, Commercial Loan Broker, DRE: 0095710 MLO: 249261

Posted on 15. Apr, 2012 by .

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Building a loan package is both science and art. The science is predictable: certain things must be included in each file and adjusted for the type of property we’re talking about. The science is pretty standard. The art is different. A lot of underwriters left the business after 2008 and the ones still remaining are […]

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Legal Q & A – by Franco Simone, Attorney

Posted on 15. Apr, 2012 by .

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The Landlord’s Responsibility for Move-In and Move-Out Inspections Q: Should I do a pre-move-in walk thru with my new tenant?

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Legal Q & A – by Richard Beckman, Attorney

Posted on 15. Apr, 2012 by .

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Question 1: My tenants changed the kitchen by adding cabinets and a dishwasher. Can I make them take it all out?

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Legal Q&A – by Dennis P. Block

Posted on 15. Apr, 2012 by .

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Question One: I am suing my tenant for eviction based on non-payment of rent. He claims that I will lose my case as I served the 3-day notice prematurely. I served him with the notice on the 3rd day of the month. He claims that the contract provides for a 5-day grace period and therefore […]

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Resident Managers, Easements and Tree Law – By Dale Alberstone, Esq.

Posted on 15. Apr, 2012 by .

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This month I will address three areas of real estate law which, judging from the volume of telephone calls I receive from AOA members, continue to generate a good amount of confusion.  These fields are: 

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Coming Next Month! The Big Trade Show and Educational Conference and Are You the 1% or Who Are They?

Posted on 15. Apr, 2012 by .

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The Big Show You’ll want to mark your calendars for the Million Dollar Trade Show and Educational Conference next month.  Come help us celebrate AOA’s 30th anniversary where we’ll be giving away iPads, 5-day cruises and even a flat screen TV. The big show will be held on Thursday, May 17th at the Long Beach […]

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