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Archive for December, 2017

URGENT ACTION ITEM: IF TAX REFORM PASSES THIS YEAR, CONSIDER PAYING BOTH INSTALLMENTS OF PROPERTY TAXES ON RENTAL AND PERSONAL PROPERTY THIS YEAR – by Estate Planning Attorney Kenneth Ziskin

Posted on 13. Dec, 2017 by .

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While nothing is certain yet about tax reform, it appears likely that Congress will pass, and the President will sign, some version of H.R. 1, the Tax Cut and Jobs Act, this year.

Both the version passed by the House, and the version passed by the Senate, either eliminate or substantially limit your ability to deduct state and local taxes (“SALT”).   Both versions currently have provisions limiting SALT deductions to $10,000 of property taxes on your residence. [...]

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12 Rich Habits vs Poverty Habits – Grow Legacy Wealth Steadily – by Terry Moore, CCIM

Posted on 01. Dec, 2017 by .

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Tom Corley was a broke CPA, wondering why some clients were so much better off. He studied hundreds of wealthy people and more than 100 poor Americans. What he learned made him famous, wealthy, and impactful. This piece summarizes many of the key points of his book, Success Habits: The Daily Success Habits of Wealthy Individuals.

For five years Corley followed people with at least $160k income and net worth above $3 million and compared them to people who made less than $35k and had less than $5k in liquid assets. [...]

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Open Letters – New Trash Program is Trash!

Posted on 01. Dec, 2017 by .

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To:  Carolyn Shining, Shining Law Firm

Most recently, I was invited to a workshop involving Recycle L.A. and all of the major trash haulers were present.  It was an interesting discussion.  Generally, the concept is flawed and bankrupt – it’s just absolutely silly!

People have a perception that greenhouse gases and environmental issues that emanate from the trash landfills are dangerous.  So, they’ve devised a plan where allegedly tenants will examine and review or otherwise audit their own personal trash, thereafter sort and put trash in black bins and put recyclable items in the blue bins.  For all tenant noncompliance, the penalties are assessed against the owners. [...]

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Elected Officials Are Taking the Wrong Approach To Solving Our Housing Shortage and San Jose’s New Tenant Protection Ordinance – by Noni Richen, SPOSFI President

Posted on 01. Dec, 2017 by .

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The housing crisis is one of the most widely discussed local issues in San Francisco. While virtually everyone agrees that to solve the housing shortage (not crisis) we need to build more housing, almost every proposal to add even a few units is met with the same tired arguments: congestion, parking, blocked views, and a host of others. [...]

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New Home Sales Surged to a 10-Year High – by Gary Halbert

Posted on 01. Dec, 2017 by .

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In a huge surprise, U.S. new home sales in September recorded the largest single-month percentage increase since 1992, a sign the market remains resilient despite two major hurricanes and a continuing inventory shortage of homes.

Purchases of newly built single-family homes swelled 18.9% in September, far above expectations. The actual number of new homes sold climbed to a seasonally adjusted annual rate of 667,000 units in September, the Commerce Department reported. That put new home sales at the highest level since October 2007 and well above the pre-report consensus of just 555,000 units. [...]

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Legal Q & A by Richard Beckman

Posted on 01. Dec, 2017 by .

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Question 1: Do rent controls apply to San Jose single family houses at this time? [...]

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Say Thanks to Your Tenants This Holiday Season! – by AOA

Posted on 01. Dec, 2017 by .

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Here’s a statement you don’t hear too often – “Wow … my landlord gave me a gift this holiday season!”

Sending/giving holiday gifts once a year to your tenants (customers) promotes good will, lets them know you appreciate them, can turn bad tenants into better ones and makes it a little easier for them to write those rent checks all year long.  Everyone wants to be appreciated and a small token of thanks can go a long way.

Here are a few ideas that will show your tenants you appreciate their business and who knows … that great tenant getting ready to move just may change his mind. [...]

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Follow These Steps When Screening Your Applicants – by AOA

Posted on 01. Dec, 2017 by .

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Before you put a tenant in your vacancy, be sure to thoroughly screen them. When you have a system in place and you perform your due diligence on ALL applicants, the chances are, you will NOT end up with a deadbeat tenant. Below are seven steps to follow when screening your prospective tenants. [...]

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Happy Renters AND Safe Properties for the Holidays – by D.L. Graham

Posted on 01. Dec, 2017 by .

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The holiday season is a time to bring out the best in human nature. But, it can also be a time of increased stress, short tempers, and rude behavior. How can you best keep an atmosphere of harmony and good will at your property, while still preserving the safety of your residents and your property?

Management often posts lists of rules at this time of year, and renters frequently perceive them as unreasonable, inconsiderate or onerous. Management desires sensible safety precautions, and renters just want to have fun. Here are some easy steps you can take to prevent tensions before they begin. It is often the little things that make all the difference between a frustrating holiday season, and one that is filled with joy and goodwill toward all. [...]

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What Landlords Should Know About Section 8 – Myths vs. Facts – by Kristin Maithonis

Posted on 01. Dec, 2017 by .

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The Housing Choice Voucher Program (commonly known as Section 8) is a federally funded program providing monthly rental assistance to very low income tenants renting units in the private market. The rental assistance is provided through a local housing authority.

Myths about the Section 8 program continue to prevent Section 8 participants from finding landlords willing to rent to them. Below is a list of common misconceptions about the program to help you make a more informed decision about whether to give a Section 8 tenant a chance. [...]

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