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Archive for July, 2014

March Unemployment Report – The Good, Bad & Ugly – By Gary Halbert

Posted on 01. Jul, 2014 by .

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The jobs report for March was initially hailed as good news because the Bureau of Labor Statistics reported that 192,000 new non-farm jobs were added last month. That was better than expected by many forecasters and was well above the

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Understanding Homestead – by Edgar Saenz, Esq.

Posted on 01. Jul, 2014 by .

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A homestead is the family residence, which in most states is exempt to a certain extent from forced sale for collection of debt.  InCalifornia, there are at least three kinds of homestead exemption:

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How to Deal With Different Problem Tenants – By Robert S. Griswold, MBA

Posted on 01. Jul, 2014 by .

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Although the proper tenant screening and selection techniques greatly improve your success in picking good tenants, they aren’t a guarantee, which mean that at some point in your rental property management tenure, you’re sure to

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Legal Q & A by Richard Beckman, Attorney

Posted on 01. Jul, 2014 by .

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Question 1: I rented a two bedroom Berkeley unit to three students and collected $3,000.00 for first month’s rent.  The rent receipt, which we both signed, states the basics of the lease: monthly rent, occupants, term of lease and start date.  It also

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What You Need to Know About Property Management and Trust Fund Accounting – By Dean Sherry

Posted on 01. Jul, 2014 by .

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Let’s say you are a real estate owner/investor and have hired a property management company to manage your apartment buildings. You sign a management contract and the company opens a regular business checking account with their bank. They begin managing your property and collecting rents and paying your bills. However, did you know

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Legal Q & A by Dennis Block, Attorney

Posted on 01. Jul, 2014 by .

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Question One: I paid a real estate broker to fill my vacancy.  The tenant gave a deposit of $1,090.00 but the broker never got a signed lease.  I paid the real estate broker his commission and then the tenant changed his mind and asked for

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Four More Cities Pass Resolutions in Support of Proposition 13! You Can Help by Signing the Petition! – By Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Jul, 2014 by .

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Just in the last week, the cities of Laguna Niguel, Mission Viejo, San Juan Capistrano and Irvine have passed resolutions declaring their support for Proposition 13. Proposition 13 has recently come under attack by a group of far-left activists based in

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New Resident Manager Laws For 2014 – 2015 – By Dale Alberstone

Posted on 01. Jul, 2014 by .

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 Hello everybody.  In case you have not heard, on July 1, 2014, the minimum wage inCaliforniaincreased from $8.00 to $9.00 per hour.  Other important changes were also implemented, such as raising the cap on the amount of rent a landlord can

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Search Without a Warrant? – By Anthony Sanders

Posted on 01. Jul, 2014 by .

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It is not often a lawyer gets to argue a legal question that has never been considered before, but Institute for Justice’s Litigation Director, Dana Berliner, did just that in front of the Minnesota Supreme Court [last year].  After more than six years of

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Five Reasons You Want to Use a Professional Property Manager – By Chanda Gunter, Real Property Management

Posted on 01. Jul, 2014 by .

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Whether you intentionally purchased an investment property or you became an “accidental landlord”, be prepared to wear many different hats. Being a landlord isn’t for everyone, but the vast majority of home owners are

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Save Money with These Six Property Maintenance Tips – By Erin Eberlin

Posted on 01. Jul, 2014 by .

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As a landlord, it’s easy to overlook minor issues.  Performing regular maintenance on your property can help you catch a small problem before it turns into a large expense.  Here are some property maintenance tips that can help save you money in the long run.

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Something to Think About # 22 – Managing the Portfolio – Part I – By Klarise Yahya, Commercial Loan Broker

Posted on 01. Jul, 2014 by .

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Some owners are passive. They inherited those 8 mortgage-free units over ten years ago, when Aunt Mitochondria passed on. The buildings are located in an established area but hadn’t been properly looked after during her long illness, and in the decade since her

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Legal Q & A – Roommates – By Franco Simone, Esq.

Posted on 01. Jul, 2014 by .

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Q:  I have two tenants and they are in the middle of a one year lease.  One tenant has a family emergency and has to move out temporarily.  The other tenant would like to stay and find a new

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The Recent Increase of Lawsuits Filed Against Apartment Owners – By Anthony C. Guichard

Posted on 01. Jul, 2014 by .

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As a rental property owner myself, I am often faced with the same issues most income property owners are. It becomes difficult at times to concern ourselves with addressing parking lot issues, when our focus is mostly geared toward the actual

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Estate Planning for Apartment Owners: New Laws Shift Focus to Income and Property Tax Savings – by Kenneth Ziskin, Attorney

Posted on 01. Jul, 2014 by .

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When “The American Taxpayer Relief Act of 2012” (“ATRA”) became effective in 2013, estate planning for most apartment owners turned upside down. Before ATRA, fear that expanded estate tax exemptions (beginning in 2001) might expire lead many planners to emphasize

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Exit Strategy Part II – Repositioning Your Real Estate Assets to Simplify Your Life – By Cliff Hockley

Posted on 01. Jul, 2014 by .

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As Baby Boomers age, they realize that things may need to change with how they handle their real estate investments. First of all, they may be tired of dealing with the details that are involved with the day to day operations of real estate

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The Secret to Managing Drama-Free Rental Property – By Rob Armstrong

Posted on 01. Jul, 2014 by .

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If you’ve never heard of Jessica Carde, consider yourself lucky.  She’s the now infamous “nightmare tenant” who, although apparently near penniless, preyed on homeowners by finding high-end homes for lease and giving the owners a heart-wrenching story about her circumstances to convince them to rent to her – then

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You Could Face Penalties for Tenants’ Water Usage – By James Duffy

Posted on 01. Jul, 2014 by .

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California is currently facing a water shortage problem and some municipal utility agencies (“utility agency”) are imposing restricted water allotments. Exceeding the allotment may result in a steep penalty assessed against the landlord.

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Legalizing an Unwarranted Unit – By Terrence Jones

Posted on 01. Jul, 2014 by .

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I recently helped a client with an evaluation of her property, a well-located two-unit building with approximately 3,000 square feet of living space. She purchased in the Richmond area because of the district’s large units and appealing location – between the

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Three Important Steps For Welcoming New Property Management SuperStars! © – by Ernest F. Oriente, The Coach

Posted on 01. Jul, 2014 by .

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Once you have hired a new property management SuperStar, the next step is critical.  It’s now time to welcome this SuperStar into your property management company in a way that will accelerate their success and

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Three Good Ideas to Fill Your Vacancies – By Marc Courtenay

Posted on 01. Jul, 2014 by .

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As a property owner and/or manager, you may already have many successful ways to quickly fill your vacancies with well-qualified, new residents.  My hope is that I can add a long list of intuitive and counter-intuitive suggestions that have worked and will keep

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How to Get a Good Tenant in a “Bad” Neighborhood – By Robert Cain

Posted on 01. Jul, 2014 by .

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What do you do if you live in a bad area but you have a nice townhouse to be rented out?  I have a three bedroom, 1 ½ bath with central air, alarm system, six foot privacy fence, 1 ½ car garage but when I tell people the address it deters them from

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Financing Key to Real Estate Wealth – By Jay P. DeCima

Posted on 01. Jul, 2014 by .

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Financing is the absolute heart ‘n soul of building wealth with real estate – beginning from the time you purchase your first property until the time you cash in your chips (sell out).  In the early years most Mom & Pop investors (the folks I associate with) simply do not have enough

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How to Convert Callers into Renters – By Joyce Kirby

Posted on 01. Jul, 2014 by .

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The value of setting up appointments from telephone inquiries has been clearly established.  Yet, it seems that the number of callers being converted into visitors is not always producing a high percentage of rentals. A recent question submitted by a manager of a large apartment community may

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