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Archive for November, 2019

Is It More Effective to Buy New or Used Appliances to Replace Broken Ones? By – Cliff Hockley

Posted on 01. Nov, 2019 by .

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Clients always ask me, “Is it more cost effective to buy new appliances or used ones when existing appliances in rental units fail?”  Unfortunately, there is no easy answer to that question.

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Top 5 Lawsuits Landlords Face and How to Prevent Them By – GSI Insurance Solutions, Inc.

Posted on 01. Nov, 2019 by .

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In my ten years as a landlord, I never expected the dreaded pink letter indicating I was being sued by a tenant. Yet, there it was – right in my mailbox – a letter from my former tenants indicating they were suing us for withholding their security deposit. There are strict tenant rights laws around […]

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Legal Q & A By – Franco Simone

Posted on 01. Nov, 2019 by .

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Q: I own a rental property in San Diego where there is currently no rent control and my tenant’s rent is $1,200.  I want to raise the rent to $1,500. Can I raise my tenant’s rent by 25%?

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Six Ways to Master Property Maintenance By -David Crown

Posted on 01. Nov, 2019 by .

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Typically, when somebody describes a business as being “in the toilet,” they’re delivering bad news. But property management is an industry built on the gritty work of contractors and maintenance technicians, including plumbing repairs. So if you’re a property manager and your company isn’t “in the toilet,” you’re doing something wrong.

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Legal Q & A by – Richard Beckman

Posted on 01. Nov, 2019 by .

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Question: Did the new statewide rent control law I’ve been hearing about take effect? Answer: AB 1482 – the Tenant Protection Act of 2019 – has been passed by the California legislature and is in front of Governor Newsom for his anticipated signature. Absent his veto, which is by all accounts extremely unlikely, AB 1482 […]

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Management Tips from MRLANDLORD.COM By – Jeffrey Taylor

Posted on 01. Nov, 2019 by .

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Filling the Vacancy is Not the Ultimate Goal  Don’t fall for the myth that having your property rented is the ultimate goal. Yes, it is important to fill a vacancy and fill it fast. I actually consider that a number one priority. However, let me say for the record that I do NOT want you to fill […]

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Another Crazy Idea to Punish Housing Providers!

Posted on 01. Nov, 2019 by .

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Los Angeles City Councilmembers Mike Bonin, Marqueece Harris-Dawson, Paul Koretz and David Ryu are all backing a plan for an “empty-home penalty” or “vacancy tax”.  This is another disastrous idea that is spreading throughout the whole state.   They seem to think that this is “an important tool for addressing one of the root causes […]

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Something to Think About #86 – Information, Not Advice Part 6 by – Klarise Yahya

Posted on 01. Nov, 2019 by .

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Continued from Part 85 . . .  With all of this, why buy bonds? Proper diversification between asset classes enhances portfolio growth because, as someone once said, “When one asset loses, another gains”. That only happens when there is an imperfect correlation between assets. Bonds are the classic asset used to offset potential losses in […]

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DID YOU KNOW – Dennis Block

Posted on 01. Nov, 2019 by .

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 California’s attempt at stabilizing the rental market with the passage of the Tenant Protection Act of 2019 will soon prove to be a failure of epic proportions. Proponents of this bill argue that rent control is needed to maintain some degree of affordability in high-price areas, but they couldn’t be more wrong. What California really […]

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The Current CPI is Illegitimate! By – Michael Millman, Attorney

Posted on 01. Nov, 2019 by .

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Below is an open letter sent to Richard Holden, the Regional Operations Director of the U.S. Bureau of Labor Statistics. Dear Mr. Holden: Several years ago, I posted a note to your office.  I complained that the CPI for Los Angeles/Long Beach addressed and tracked only “pure consumer products” and failed to address, evaluate or […]

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If You Don’t Have a Written Qualification Criteria List for Applicants – DO IT NOW! By – Patricia A. Harris

Posted on 01. Nov, 2019 by .

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Having a written criteria list for your rental applicants is pertinent in your rental business and serves several purposes.  By attaching a copy of your rental criteria to each blank application form, you are informing your applicant of a list of conditions that must be met for them to be considered as a future tenant […]

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Customer Service – The Real Victim of Rent Control By- Shaya Stauber

Posted on 01. Nov, 2019 by .

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The Year was 1999 and the Los Angeles Lakers just moved from the Great Western Forum in Inglewood to Staples Center in Downtown L.A. They had a shiny new home for their brand new superstars Shaq and Kobe. The Lakers hadn’t won a playoff game past the second round in eight years and they were […]

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Legal Q & A by – Dennis Block

Posted on 01. Nov, 2019 by .

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Question One: I have a tenant that is on a one year lease. Without notice, he vacated halfway through the lease term. At the same time, I had another tenant who properly vacated at the end of her lease. I understand that the man who left will be responsible for the remaining portion of the […]

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A Glimmer of Hope for California Taxpayers By – Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Nov, 2019 by .

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California’s 2019 legislative session recently came to a merciful end. Despite the fact that the Legislature passed dozens of bills assaulting basic economic rights, it could have been far worse for taxpayers. Indeed, in remarkably good news, the most dangerous threat to Proposition 13 was defeated.

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How to Avoid Applicant Screening Pitfalls By – Ellen Clark

Posted on 01. Nov, 2019 by .

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Avoid discrimination within the screening process by carefully considering how you approach your application process. Claims of discrimination often arise in relation to the applicant screening process. This can be a tricky area to navigate, and one where even well-intentioned people can find themselves on the wrong end of a discrimination claim.

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What You Need to Know About the “Tenant Welfare” Act of 2019 By Dennis Block, Attorney

Posted on 01. Nov, 2019 by .

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California’s attempt at stabilizing the rental market with the passage of the Tenant Protection Act of 2019 will soon prove to be a failure of epic proportions. Proponents of this bill argue that rent control is needed to maintain some degree of affordability in high-price areas, but they couldn’t be more wrong. What California really […]

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3 Of the Most Common Traps Rental Property Owners Encounter By – Eric D Davis

Posted on 01. Nov, 2019 by .

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As a new or experienced landlord, you probably know that there are all kinds of things (both big and small) that can cause problems and consume your precious time. Between dealing with building maintenance, difficult tenants, and financial concerns, being a rental property owner can be exceptionally stressful.

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Required Disclosures in Leases of Commercial Property By – Dale Alberstone, Esq

Posted on 01. Nov, 2019 by .

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Hello everybody.  Most members of the Apartment Owners Association own or manage at least one apartment building.  Some of those members, as well as non-member readers of this AOA magazine, may own commercial property, or at least aspire to someday own commercial property.

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Property Management Company Pays $29 Million Dollars! By – HomeSmiles

Posted on 01. Nov, 2019 by .

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You own and operate a property management company in California.  You have your license, you’ve done the training, you’ve provided excellent service to your clients, and built your business…but, you’re concerned aren’t you?  What if something goes wrong?  What if there is a fire? What about deferred maintenance? Am I doing everything I can and […]

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Government Interference Destroys Housing Investments By – Terry Moore, CCIM

Posted on 01. Nov, 2019 by .

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Income and wealth inequality have grown in the last fifty years. On National Public Radio a professor in favor of inclusionary housing dismissed the data which seemed to say inclusionary housing policies decreased the rate of construction in the inclusionary housing zone in relation to the broader marketplace. I’ve heard many people do the same. […]

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The High Cost of Rent Control – Part II By the National Multifamily Housing Council

Posted on 01. Nov, 2019 by .

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In addition to the substantial economic costs associated with rent control, [from Part I] the decision whether to regulate rents raises difficult questions of social policy. Social Implications of Rent Control …

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Los Angeles Wants to Tax Landlords for Vacant Units By – Brian Wallace, SPOSFI Member

Posted on 01. Nov, 2019 by .

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Lawmakers in Los Angeles seem to be taking a cue from our own Board of Supervisors as they explore legislation to impose a tax penalty on property owners who leave residential rental units vacant.  As John Phillips notes in the Los Angeles Daily News, Los Angeles City Councilmembers Mike Bonin, Marqueece Harris-Dawson, Paul Koretz and […]

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A Recession is Coming, the Question is When By – Gary Halbert

Posted on 01. Nov, 2019 by .

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As clients and regular readers know, I have been more upbeat on the U.S. economy than many of my fellow financial writers in recent years, and especially this year. Several of the writers I read have been calling for a US recession this year and warn that it could be a rough one.

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