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Archive for August, 2014

Uncle Sam Seizes Children’s Tax Refunds to Pay Parents’ Debts – By Gary Halbert

Posted on 01. Aug, 2014 by .

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Let’s kick this discussion off with a recent real-world example. In April, with no notice, theUSgovernment intercepted Mary Grice’s tax refunds from both the IRS and the state ofMaryland. Grice had no idea that Uncle Sam had seized her tax refunds until

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Something to Think About #23 – Managing the Portfolio: Part 2 – By Klarise Yahya, Commercial Loan Broker, BRE: 00957107 MLO: 249261

Posted on 01. Aug, 2014 by .

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Questions Every activity has its own set of fundamental questions. Oddly perhaps, it seems almost like the more consequential the activity the fewer the questions. For example, in commerce there are four  questions: (1) What am I going to get? (2) When am I going to get it? (3) What’s it going to cost me? […]

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Legal Q & A Repair and Deduct Remedy – by Franco Simone, Esq.

Posted on 01. Aug, 2014 by .

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Q: My tenant called me when I was on vacation and complained that a screen was broken and in need of repair.  I told the tenant I would address the issue when I returned from my vacation.  My tenant decided not to

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Legal Q & A – by Richard Beckman, Attorney

Posted on 01. Aug, 2014 by .

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Question 1: I have a Duplex in Oakland. What is the best way to deal with roommates/sub leasing?

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Legal Q & A – by Dennis Block, Attorney

Posted on 01. Aug, 2014 by .

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Question One: I own a rental unit inCulver City. My tenant’s one-year lease will expire on August 31, 2014.  He has not been the best tenant and I would like him to vacate. Do I serve a 30 or a 60-day notice in this situation?

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Red Light Camera Ticket: Gotcha! – By Dale Alberstone, Esq.

Posted on 01. Aug, 2014 by .

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Hello everybody.  It is rare that the California Supreme Court issues a decision addressing ordinary traffic laws, such as stopping at a red light.  However, on June 5, 2014, the high Court did just that.  It determined that red light cameras mounted adjacent to traffic signals are

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Court Decision on Earthquake Liability is of “Profound Importance” to California Landlords – By Gideon Kramer, SPOSFI News Editor

Posted on 01. Aug, 2014 by .

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In our September 2013 issue, Southern California attorney Lee Kanon Alpert wrote about the 1994 Northridge Earthquake and the lessons he learned from that devastating experience, in particular with regard to a residential rental property owner’s potential legal exposure in the event of a major temblor.

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Can Your Rental Center Walls Sell? © – by Ernest F. Oriente, The Coach

Posted on 01. Aug, 2014 by .

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If first impressions are formed by a new resident within 10-12 seconds of meeting those on your leasing teams, what impressions do the walls in your office make?  Can your walls sell?  Can your walls motivate and inspire you and your leasing teams?  You bet they can!  This article will show you three easy steps […]

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Are You Leaving Money on the Table? – By Cliff Hockley, CCIM

Posted on 01. Aug, 2014 by .

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Most real estate investors tend to operate their properties with a simple rule in mind – If money appears in their checking account by the end of the month, their property is healthy.  As long as they see the same amount every month, they’re happy. However

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Minimum Wages and Earth Warming – By John Allison of the Cato Institute

Posted on 01. Aug, 2014 by .

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The anti-productive-work mindset of Progressives is stunning.  They celebrate the fact that Obamacare creates an incentive for millions of individuals not to work.  They admit the minimum wage increase they have proposed will eliminate 500,000 to

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Why Not Sustainability in a Spending Limit? – By Jon Coupal

Posted on 01. Aug, 2014 by .

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Recently, Gov. Jerry Brown delivered the keynote address at a sustainability summit hosted by the Los Angeles Business Council. While the summit focused onCalifornia’s environmental, energy and water policy, we have to wonder whether the governor will exert the same effort in support of fiscal sustainability now that he has called a special

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Advertising Tips for Rental Properties – By Robert Cain

Posted on 01. Aug, 2014 by .

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Beginning at the beginning – after you get the property cleaned and ready to rent, it’s time to get a new tenant.  Most landlords run an ad in the local newspaper.  They do that because it works if

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The Case of the Deadbeat Sheriff – By Zachary Lawrence JD

Posted on 01. Aug, 2014 by .

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We rented a unit to an L.A. County Sheriff. What could be better – a steady income and a “badge” at the property.  Perhaps even free donuts!  We were confident that this tenancy would be a long term and fruitful relationship between my client (the Landlord) and the tenant (the Sheriff).

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24 Things I’ve Learned in Over Three Decades of Landlording – By Jeffrey Taylor, “Mr. Landlord”

Posted on 01. Aug, 2014 by .

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1. I like to think that I am a good judge of character but I’ve been fooled before. Always verify your applicant’s credit, employment and rental history.

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Three Ways to Play the Rental Housing Boom – By Susan J. Aluise

Posted on 01. Aug, 2014 by .

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Housing stocks have always been an essential part of a well-diversified portfolio, and recent trends confirm that the rental housing market is heating up faster than single-family homes. But let’s face it: Few of us have the stomach for midnight maintenance calls and rowdy tenants, so thankfully there’s another way to play this

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Security Deposit Final Accounting Tips – By Jim Straub

Posted on 01. Aug, 2014 by .

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By now, I believe you know the basics:  a final accounting must be post-marked on or before [21] days after you receive possession of the property from your departing tenant and it must itemize the amount of the deposit you initially collected from your tenant, the amount and the reason you are withholding portions of […]

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Are You Getting the Rejected Applicants From Professional Property Managers? – By Real Property Management

Posted on 01. Aug, 2014 by .

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Have you ever wondered why some property owners/managers require personal information such as credit reports and a personal background check on ALL people over the age of 18 and some don’t require much at all? Why do some landlords require references, personal and past landlord information and even request income verification while others are more […]

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Now is a Great Time for Waterproofing – By Adam Gordon

Posted on 01. Aug, 2014 by .

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Later this year, the drought grippingCaliforniamay finally be somewhat alleviated— according to multiple news outlets.  El Niño, the mass of warmer-than-usual water which develops in the Tropical Pacific Ocean, has a 65% chance of

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Screening: What to do When You Have Two Applicants and Only One Qualifies – By Megan McCormick

Posted on 01. Aug, 2014 by .

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Q:  I have several applicants applying for my rental.  Do I have to screen everyone the same or can I screen only for credit on some and require a criminal background check on others?

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New Tax Regulations Affecting Rental Property Owners – By Jeff Glass

Posted on 01. Aug, 2014 by .

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The IRS has just given apartment owners several reasons to contact their accountants. On September 19, 2013, the Internal Revenue Service issued new final Tangible Property Regulations which went into effect for tax years beginning

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How to Solve the Number One Problem in Landlord-Tenant Relationships – Security Deposit Refunds – By Robert Griswold, MBA

Posted on 01. Aug, 2014 by .

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If you own rental property in California, you need to comply with special rules and procedures for vacating tenants.  Californialandlords must provide their tenants with written notice that they’re entitled to request and be present for an initial pre-move inspection.  A vacating tenant can decline,

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Overlooking These Landlord Laws Can Cost You Money! – By Patricia A. Harris

Posted on 01. Aug, 2014 by .

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DURING THE APPLICATION PROCESS  Give Applicant a Screening Fee Receipt When you accept a screening fee from a prospective tenant, you must provide them with a receipt for those monies.  You may either

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