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Archive for July, 2018

How Well is Your Property Manager Doing? – by David Crown

Posted on 01. Jul, 2018 by .

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Excellent property management delivers the highest profits and superior care for your property. This is a clear and simple truth. But how can you really know when you’re getting great management? [...]

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If Maintenance Can’t Find the Problem, Service isn’t Complete – by Lori Hammond

Posted on 01. Jul, 2018 by .

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“Couldn’t find the problem, everything is ok.” Trust me if maintenance cannot resolve a problem in a residents apartment. Everything is not ok.  The resident is looking for service and we are failing to provide it. [...]

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Delaware Statutory Trust 1031 Exchange Insights – by Chay Lapin, Senior Vice President, Kay Properties and Investments

Posted on 01. Jul, 2018 by .

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Recently, a client in a 1031 Exchange with $4,000,000 of equity was working with another registered representative and talking to a sponsor directly. In talking with Kay Properties and Investments, they learned that we specialize in Delaware Statutory Trust (DST) 1031 Exchanges and that we have access to a variety of DST properties from many DST sponsor companies throughout the industry.

After we hosted the family at our Los Angeles headquarters and they had a chance to visit with our team, we learned more about their situation. [...]

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An Alternative to a Failing Section 1031 Like-Kind Exchange Transaction – by Charles Lee

Posted on 01. Jul, 2018 by .

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Since the modern-day version of the U.S. Internal Revenue Code (the “IRC”) Section 1031 was amended in 1954, real estate investors have used Section 1031 like-kind exchanges to defer gains on their sale of real property.  Section 1031 exchanges allow sellers to exchange investment real property with other like-kind investment real property without the payment of tax on the gain.[1]  The rationale is similar to IRC Section 351 and other non-recognition provisions: the taxpayer is not cashing out of their investment, but rather is continuing it, albeit in a different form or with a different real property.  [...]

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

Posted on 01. Jul, 2018 by .

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Rent control has been in force in a number of major American cities for many decades. The best-known example is New York, which still retains rent controls from the temporary price controls imposed during World War II. But this policy, meant to assist poorer residents, harms far more citizens than it helps, benefits the better-off, and limits the freedom of all citizens.

A look at the classified ads in rent-controlled cities reveals that very few moderately priced rental units are actually available. Most advertised units are priced well above the actual median rent. Yet in cities without controls, moderately priced units are universally available. [...]

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Legal Q & A and The Ellis Act – The Ultimate Rent Control Solution – by Dennis Block

Posted on 01. Jul, 2018 by .

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Question One: One of our rental properties is in a nice area of Encinitas, in San Diego County. Next door is another rental. Over the past four to five years, there have been numerous criminal activities in the neighboring unit. Police activity is so frequent that our tenants often cannot leave or gain access to their unit. Also, police have used our property during one of the arrest operations. I have spoken with the owner and have sent three or four letters and have received no response. My tenants are not happy and are scared. They should not live in fear. What legal means can I take? [...]

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Something to Think About #70: Uncle Sally’s Nephew, Part 33 – by Klarise Yahya

Posted on 01. Jul, 2018 by .

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If you’ve missed some of the prior articles, basic guidelines on successful investing are in my book “Stairway to Wealth” available at LuLu.com.

Continued from Part 32:  Buffett vs. Soros. These are opposing types of investments. The Buffett approach is biased towards safety of principal and the compounding of dividends. His desire is to control a meaningful portion of the supply chain: buy for a reasonable price (you seldom get moated companies “cheaply”) and keep it as population and demand grows. Let the dividends compound while you’re waiting.

Soros takes another approach. There is no stream of income with Put options, all the gain (if there is any) is made at the end, so Soros is not really an investor. A better term might be “speculator”.  He’s speculating that the S&P and Russell 2000 will dramatically decline while his Puts are in place. If that happens, he can achieve extraordinary gains. There is a place for both. [...]

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Rent Control Reappears – by Al Jacobs

Posted on 01. Jul, 2018 by .

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In my readings recently, I stumbled upon an article concerning rent control – a subject pitting two economic groups squarely against one another. If you’re the owner of residential rental units, you object to a governmental agency dictating what price you may set on your property. If, however, you’re the traditional apartment dweller, you favor it because it guarantees all tenants will enjoy accommodations at prices they can afford. In this way, they claim, the problems of affordable housing will be resolved and along with it the eradication of homelessness. [...]

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Landlord, Property Managers Bullied and Harassed Over Rent Increases!

Posted on 01. Jul, 2018 by .

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The below article was written by John Triplett, a writer for the Rental Housing Journal.

Tensions are rising between landlords and property managers, and tenant activists. Landlords and managers have been bullied over rent increases. And they face unpleasant demonstrations from activists as Portland struggles with a shortage of housing and rapidly rising rents.

A Portland landlord says he and his property managers have been bullied and intimidated over rent increases after he purchased a small apartment building and had to raise existing rents to afford his new mortgage payments. [...]

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New Arbitration Law: 2018 Update – by Dale Alberstone, Esq.

Posted on 01. Jul, 2018 by .

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Hello everybody.  I am sorry to report that on April 30, 2018, the California Court of Appeal issued a really bad ruling regarding arbitration insofar as it will affect landlords.  The decision provides a strong basis by which a claimant, including a residential tenant, can avoid enforcement of a binding arbitration provision in a lease or other contract thereby forcing a dispute to be tried in court rather than by an arbitrator.

One aspect of this new case, entitled Weiler v. Marcus & Millichap Real Estate Investment Services, is that it potentially allows tenants to compel their landlords to defend in court (such as in a jury trial), claims the tenants file against them, rather than have the issues arbitrated, which landlords would generally prefer.

But first, some background. [...]

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