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Archive for October, 2018

Press Release from a California Senator: Rent Relief for Californians – by Kamala D. Harris

Posted on 01. Oct, 2018 by .

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With the cost of housing continuing to rise in California and across the country, Senator Harris recently introduced legislation that would provide rent relief for Americans struggling to make ends meet. The Rent Relief Act would create a new, refundable tax credit to put more money in the pockets of families at a time when renters’ wages […]

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Management Tips From MRLANDLORD.COM by- Jeff Taylor

Posted on 01. Oct, 2018 by .

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 A landlord started a discussion on our rental owners’ forum asking landlords to share their favorite statements which rental applicants make that will instantly cause the landlord to consider not renting to them. One landlord admits that the reason they want to actually meet the applicants in person during the showing is because they are […]

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Did You Know- by Dennis Block

Posted on 01. Oct, 2018 by .

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No Good Deed Goes Unpunished  If you allow a guest to stay on your property for 30 days, your guest will gain possessory rights to your property. This is true even though no rent was charged. The police will not assist you in forcing this guest to move. In addition, it would be considered a […]

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How to Get Two or Three Times More Rent and Much Better Tenants Without Section 8 by – Nick Sidoti, R.A.M.

Posted on 01. Oct, 2018 by .

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You have heard it all before.  Some of us have even said it ourselves – “Being a landlord can be a pain.”  Most people in this country will agree that it makes a lot of sense to buy property and invest in real estate.  We also know all the benefits of investing in real estate.  […]

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Legal Q & A by – Franco Simone, Esq.

Posted on 01. Oct, 2018 by .

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Q: What can I do if my tenant still owes me money after I applied the security deposit to the outstanding balance for unpaid rent and necessary costs to clean and repair the rental unit? A: First, you will need to fill out a security deposit itemization for back rent, cleaning costs, and damage beyond […]

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8 Reasons Quarters are Bad for Your Laundry Business by – George Melcer

Posted on 01. Oct, 2018 by .

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There are times when old technology is costly, more costly than upgrading. Continuing to accept quarters instead of upgrading to a digital payment system is definitely one of those things. Quarters in the laundry business have been standard for decades. The devices on the machines are relatively inexpensive and easy to extract the money from. […]

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Attention Landlords! How to Write-Off Practically Anything by – Karla Dennis

Posted on 01. Oct, 2018 by .

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When it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they […]

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When is it Time for a “Buy and Hold” Investor to Sell? by – Larry Arth

Posted on 01. Oct, 2018 by .

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 The past decade has been a prime market for buy and hold investors. Those who were astute enough and had the wherewithal to invest over the past 10 years have enjoyed a great deal of cash flow and some great appreciation. Investors lately, were comforted in knowing their investments have gained a substantial increase in […]

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The Real Question is – What Are YOU Doing to Help Defeat Prop 10?

Posted on 01. Oct, 2018 by .

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Below is AOA’s response to a recent FaceBook Post: “Too bad AOA isn’t actually contributing financially to any of our legislative fights ever!!! I would love to see that they did.”   YOU are the Association, and we encourage you and all of our members to get involved!

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This Year, Nothing is More Important Than Defeating Prop. 10! by – Noni Richen, SPOSF/SPOSFI President

Posted on 01. Oct, 2018 by .

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Orchard Supply Hardware has announced that it’s going out of business due to low sales.

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Help Save Costa-Hawkins! by – Dennis Block, Attorney

Posted on 01. Oct, 2018 by .

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What is Costa-Hawkins? For landlords, and truthfully for the entire economy, Costa-Hawkins is a very good law. In 1995, the State of California enacted a law that stopped cities from imposing rent control on new construction, single family homes, condominiums and townhomes. It prevented municipalities from instituting rent control for buildings constructed after 1995. If […]

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California Real Estate – Affordability’s Domino Effect by – Bruce Norris, The Norris Group

Posted on 01. Oct, 2018 by .

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To my surprise, the median price for a single-family home reached an all-time high in the last few months of over $600,000 in California. I believed with lending being so restrictive, California would have a hard time passing its former high in median price. That conclusion was wrong.

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Legal Q & A by – Richard Beckman, Attorney

Posted on 01. Oct, 2018 by .

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Question 1: Our tenant of three years is complaining of mold. We have inspected but see no visual evidence of mold. He says that he uses a mold detection device and the reader says there is mold in the air. What plan of action is required of us? Answer 1: As the owner, you always […]

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Legal Q & A by – Dennis Block, Attorney

Posted on 01. Oct, 2018 by .

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Question One: I have an old friend from high school who is homeless. I have allowed him to live on my front porch. My house is located inAlhambra. Things have not gone well and he has become a nuisance with constant noise and bathroom issues. I have asked him to leave and when he refused […]

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Why Your Apartment’s Brand Matters by – MPS Management

Posted on 01. Oct, 2018 by .

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The multifamily apartment industry is never boring. Multifamily stats in 2018 are yo-yo-ing on a month-to-month basis but overall numbers and trends are positive for much more product on the market. Industry watchers attribute confidence in the development sector to the healthy state of the economy, with labor shortages leading to modest gains in pay […]

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VOTE NO ON PROPOSITION 10 – Repeal of 1995 Costa Hawkins Fair Housing Act by – Michael Millman

Posted on 01. Oct, 2018 by .

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The below is an open letter, written by Attorney Michael Millman. [AOA:  The following will not happen when we defeat Proposition 10!] Dear Members and Friends: Over the last 40 years, studies conducted by the Rand Corporation, and most recently, Stanford University, have confirmed and verified that RENT CONTROL IS NOT THE SOLUTION FOR PROMOTING […]

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What is Legacy Wealth? By – Terry Moore, CCIM

Posted on 01. Oct, 2018 by .

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The crippled lad clung to the millionaire’s leg. The American had gently put the young man into the gifted wheelchair and expected to move on to the next needy Bosnian child. The youngster would not let go.

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Adding an Open House to Your Marketing Calendar by – Lori Hammond

Posted on 01. Oct, 2018 by .

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Everyone loves an open house. Realtors have portfolios with hundreds of homes for sale. A simple phone call can arrange an appointment for a home tour. Placing a sign in the front yard announcing OPEN HOUSE TODAY, creates interest. The results are significantly different than the inquiries generated by the HOME FOR SALE sign.

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This Could Really Happen -Vote No on Proposition 10! And It’s Here! The Big Million Dollar Trade Show and Educational Conference

Posted on 01. Oct, 2018 by .

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VOTE NO ON PROPOSITION 10 – Repeal of 1995 Costa Hawkins Fair Housing Act The below is an open letter, written by Attorney Michael Millman. [AOA:  The following will not happen when we defeat Proposition 10!]

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How Rent Control Drives Out Affordable Housing – Part IV by – William Tucker

Posted on 01. Oct, 2018 by .

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ent Control and Vacancy Rates There can be no doubt that rent control creates housing shortages.  For almost 20 years, national vacancy rates have been at or above seven percent – a figure generally considered normal.  Cities such as Dallas, Houston and Phoenix, where development is welcomed, have often had vacancy rates above 15 percent.  […]

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Why Many Baby Boomers Consider DST 1031 Exchanges by – Don Meredith

Posted on 01. Oct, 2018 by .

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Many savvy investors from the “Baby Boomer” generation own highly-appreciated real estate assets and income properties. However, as they enter retirement, some of these real estate investors would prefer to not deal with day-to-day property management – from maintenance problems, and tenant issues to juggling rent checks and leases. Below you’ll learn why a Delaware […]

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Multifamily Managers and Marijuana: Caught in a Pot Crossfire by- Ellen Clark

Posted on 01. Oct, 2018 by .

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Multifamily property managers are often caught in a pot crossfire between state and federal laws when it comes to marijuana use in apartments, especially in states where marijuana use is legal.

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Something to Think About #73, Part 36 by Klarise Yahya

Posted on 01. Oct, 2018 by .

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If you’ve missed some of the basic articles, guidelines on successful investing are in my book “Stairway to Wealth” available at LuLu.com.  Continued from Part 35:  Consumables vs. Assets, Part 2 Businesses: Generally, because of low barriers to entry consumables tend to be price sensitive. Commodities are a type of consumable that competes only on […]

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Can Interest on a Loan Be Voided if it is Unconscionably High? by – Dale Alberstone, Esq.

Posted on 01. Oct, 2018 by .

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Hello everybody.  In several previous articles I authored for AOA members over the years I discussed the concept of “usury.”  Usury can be informally defined as charging a rate of interest on a loan that is greater than applicable law allows. 

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