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Archive for July, 2019

Are You Consistent With Your Tenant Screening? By – Patricia A. Harris

Posted on 01. Jul, 2019 by .

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To avoid lawsuits for discrimination, every landlord should have a list of written rental criteria that describes your minimum acceptable rental qualifications.  This list may or may not be shared with your rental applicants when you give them an application. However, by giving a prospective renter this list, it may save you time in processing […]

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Politicians Embrace Socialism at Their Own Peril By – Gary Halbert

Posted on 01. Jul, 2019 by .

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My readership has long been dominated by free-market conservatives who believe in lower taxes, less regulation and smaller government. Yet I have always had a smaller contingent of readers who are big government liberals, but they like reading me to help them understand how conservatives think. I appreciate everyone who reads my work.

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5 Things that Set Great Apartment Investors Apart by – TERRY MOORE, CCIM

Posted on 01. Jul, 2019 by .

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Great apartment investors differ from other investors.  For a generation, I’ve served 200+ successful investors and 2000+ others who never closed any investment escrow. These five major differences set great apartment investors apart from the pack.

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Fair Housing Tips – What to Do with a Hoarder By Ellen Clark

Posted on 01. Jul, 2019 by .

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People with disabilities face particular challenges when it comes to housing and have special protections under fair housing law. Disabilities include both physical and mental impairments. It may not always be obvious that someone has a disability, which can make complying with fair housing law in this area a little tricky. 

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ATTENTION ALL LANDLORDS L.A. COUNTY RENT CONTROL MEASURES EXTENDED

Posted on 01. Jul, 2019 by .

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The temporary rent control measures in unincorporated Los Angeles will remain in place through the end of the year. The Los Angeles County Board of Supervisors voted 4 to 1 to extend—and expand the ordinance.  The measure was originally set to expire in June, but will remain in effect until December 31st when a permanent […]

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California Continues to Trample Property Owners’ Rights

Posted on 01. Jul, 2019 by .

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The below two cases have been filed by Pacific Legal Foundation (PLF) on behalf of property owners. Government Can’t Force Tenants for Life Mr. Pakdel is a small business owner in Ohio. In 2009 he bought what’s known as a “tenancy in common” (TIC) apartment in San Francisco and leased it to a residential tenant. […]

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DID YOU KNOW By – Dennis Block

Posted on 01. Jul, 2019 by .

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Bed Bugs  California Law enacted in July 2017 requires landlords to follow certain guidelines for bed bugs. Specifically, the law states the following:

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Landlord Mistakes – Don’t be Held Hostage by Your Tenants By – Sharon Vornholt

Posted on 01. Jul, 2019 by .

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This guest article is on landlord mistakes written by Debbie Vornholt, and I have a story for you. It’s the first of the month, and I had a tenant that I just love named Bob come in to pay his rent.  Bob is a commercial tenant of ours that has a successful tattoo parlor, but […]

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5 Easy DIY Projects That Can Add Value to Your Rental Property By – the Editors of the Rental Housing Journal

Posted on 01. Jul, 2019 by .

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Looking for simple and inexpensive ways to boost your property value? Here are five easy “Do it Yourself” projects that can add value to your rental property, especially if you are on a tight budget, from maintenance company Keepe. Use this guide to pick the best do-it-yourself projects that save you money and increase your […]

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Why You Should Never Rent to Your Friends By – Clifford A. Hockley

Posted on 01. Jul, 2019 by .

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Landlord:  Ken Property Type:  Apartments Famous Last Words:  “Sure, I can do a favor for an old friend.” Ken’s friend Finley called him up and asked him to rent an apartment unit to his daughter, Stephanie.  Ken and Finley had been golf buddies for 25 years and Ken had no qualms about renting to Finley’s […]

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A Vacant Property is a Problem Property By – Bill Biko

Posted on 01. Jul, 2019 by .

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When you have a vacant property, you have multiple problems. You’re losing income You’re paying out of your pocket to support the property You insurance may go up if it’s vacant more than 30-60 days (did you realize you often need to report extended vacancies to your insurance company or your insurance is void?) No […]

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Housing Choice Vouchers Provide Guaranteed Income By – Kristin Maithonis

Posted on 01. Jul, 2019 by .

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To maintain and grow your rental housing business, you rely on tenants to pay the rent in full and on-time each month. Unfortunately, the financial and personal hardships of your tenants will inevitably impact you and your business. A job loss, divorce, car trouble, or health problem affecting your tenant will become your hardship when […]

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Legal Q & A by – Dennis Block

Posted on 01. Jul, 2019 by .

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Question One:  I have a tenant who vacated leaving me with $15,000 in unpaid rent. Based on a cost factor, do you think it would be wise to sue this tenant in Small Claims Court?

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Legal Q & A by Richard Beckman

Posted on 01. Jul, 2019 by .

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Question 1:  Can I require my tenant to professionally clean the carpets before they leave or can I have it done after they leave and deduct the cost from their deposit? Answer 1:  The tenant has a duty to return the unit to its state or condition when first rented (normal wear and tear excepted), […]

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Something to Think About #82: Information, Not Advice, Part 2 by – Klarise Yahya

Posted on 01. Jul, 2019 by .

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Continued from Part 01 . . . One of the things lenders are looking for is liquidity. How much cash-equivalency does the borrower have? Something always comes up. Does the borrower have enough liquidity to get through it? Cash equivalents include things like savings and checking accounts, retirement funds, cash value of life insurance policies, […]

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Upcoming Rent Control Mitigation Measures and How to Secure More Income Now! by – Joseph W. DeCarlo

Posted on 01. Jul, 2019 by .

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Proposition 10 (Rent Control) to repeal the 1995 Costa Hawkins Act, a law that restricts rent control ordinances in cities in California was defeated in the November 2018 election.  Municipalities can still enact moratoriums and rent control.  The County of Los Angeles just instituted a rental cap until the end of 2019 which will probably […]

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RESIDENT MANAGER LAW UPDATE FOR 2019 By – Dale Alberstone, Esq.

Posted on 01. Jul, 2019 by .

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Hello everybody.  On July 1, 2019, resident manager laws will change in many cities throughout California.  Fortunately, the laws promulgated by the state of California will not change in any significant fashion until January 1, 2020. My column this month will address a number of the 2019 changes of city laws and other important aspects […]

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Legal Q & A By -Franco Simone, Esq.

Posted on 01. Jul, 2019 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? 

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Soft Story Retrofitting – Are You Still Puzzled? Ask the Expert! By – Dee Soffer

Posted on 01. Jul, 2019 by .

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Q1: I have been a landlord in Los Angeles for the past 30+ years and my buildings did not get affected by the Northridge earthquake back in 1994 or any other quakes. Why do I need to retrofit my building?  

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The New Prop. 10: Rent Control Could Be On State Ballot Again In 2020 by – Gideon Kramer, SPOSFI News Editor

Posted on 01. Jul, 2019 by .

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Prop. 10’s defeat in the 2018 election has not dampened enthusiasm for a statewide rent control measure. Despite the resounding defeat of Prop. 10 in last November’s election—the initiative lost in all but one of the state’s 58 counties, with only San Franciscans giving it majority support—original sponsor Michael Weinstein and his Los Angeles-based AIDS […]

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Financing Your Property in 7 Steps By – Nick Schoch

Posted on 01. Jul, 2019 by .

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As a lender, I underwrote numerous properties. The easiest loans are permanent mortgages on stabilized multifamily properties especially if it is a low leverage request (loan-to-value no greater than 60% and debt service coverage of at least 1.30x). If your loan request looks like that, lenders will be eager to lend on your property. This […]

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City of Los Angeles Coming Down on Landlords! Notice to Comply and General Manager Meetings By – Grayce Long, Attorney

Posted on 01. Jul, 2019 by .

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Have you received a Notice to Comply or General Managers Hearing or has your property recently been inspected by HCIDLA for your annual SCEP inspection? 

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Letters to the Editor …

Posted on 01. Jul, 2019 by .

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RENT CONTROL PUNISHES LANDLORDS! To the City Council: Hello, I believe a landlord should have some hope of getting to, or, very close to market over a reasonable period of time (not 50 to 100 years!) I came up with two ways this can be accomplished, while at the same time, tenants will have protections […]

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Letters to the Editor … SAY NO TO RENT CONTROL IN CONCORD!

Posted on 01. Jul, 2019 by .

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Dear City Council: I just wanted to throw in my two cents. I own several properties in Northern California. I have several tenants that are on hard times and I’m trying to do the best I can to help them. One of my tenants, an elderly couple, have been with me for over seven years.. […]

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The Top 10 Maintenance Jobs You (Or Your Tenants) Should Never DIY By – Anna Sitta

Posted on 01. Jul, 2019 by .

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In the last few years, TV, magazines and famous personalities have fueled a “do it yourself” (“DIY”) craze that has left many viewers itching to test their hand at home improvement projects. DIY-ing is definitely a fun and creative outlet, and leaves many feeling empowered and proud after successfully beautifying and/or personalizing their homes. Many […]

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