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Archive for August, 2019

Legal Q & A by – Dennis Block

Posted on 01. Aug, 2019 by .

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Question One: I have a rent control apartment in the City of Los Angeles. I have a tenant who brought in an extra person without my permission. What are my options?

Answer One: You have two options. Your first option would be to serve a 3 Day Notice to Perform or Quit, which would give your tenant three days to remove this additional person. If this person remains, you would be able to bring forth an eviction action to end the tenancy. Your second option would be to raise the rent. If this occupant has been there longer than 30 days, you are entitled to raise the rent 10%.  […]

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Coming Next Month – The FREE “Million Dollar” Trade Show and Landlording Conference! and California Rent Control: Lawmakers Have Not Learned Their Lesson

Posted on 01. Aug, 2019 by .

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The Big Show

You’ll want to mark your calendars for the FREE “Million Dollar Trade Show and Landlording Conference” next month where we’ll be giving away an iPad and 5-day cruises.  The show will be held on Thursday, September 12th at the Los Angeles Convention Center in West Hall A, 1201 N. Figueroa! […]

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Something to Think About #83: Information, Not Advice: Part 3 By – Klarise Yahya

Posted on 01. Aug, 2019 by .

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Continued from Part 2 . . . Diversified Coin Flip Time goes by.  Uncle Fred offers to divide your retirement account into two equal parts (Part A and Part B) and conduct a separate coin toss for each half. Whether heads or tails, the results of each coin toss for Part A will be limited to one half of the (former) portfolio. […]

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Legal Q & A By – Franco Simone, Esq.

Posted on 01. Aug, 2019 by .

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Q: I hired a property management company to take over managing my properties. What do I need to do to let my tenants know that I will not be managing my properties anymore? 

A: You are required to serve your tenants with a notice of change of ownership/management every time ownership or management changes. This notice must include the name, telephone number, and street address for personal service of each of the following: 1) authorized manager, 2) agent for service of process of the owner, and 3) the person or entity to make rent checks payable to. […]

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Assembly Proposes to Reduce Estate and Gift Tax Exemptions to $3.5 Million By- Attorney Kenneth Ziskin

Posted on 01. Aug, 2019 by .

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Earlier this year, State Senator Scott Wiener (D – San Francisco) introduced legislation to dramatically increase taxes on wealth transfers by California residents.  This follows the failure of a proposed California Estate Tax initiative to qualify for the 2018 ballot. His bill, SB 378, would put a referendum on the 2020 General Election ballot to adopt a 40% “transfer tax” effective January 1, 2021 if approved by a majority of the voters in that election. […]

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California Court Affirms $93,000 Judgment Against Property Management Company for Deferred Maintenance By – Jesshill E. Love

Posted on 01. Aug, 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 should do for the houses and buildings that I manage? Am I exposed to litigation?  These concerns are real and they should cause you a moment of pause.   […]

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Household Wealth Hit New Record $108.6 Trillion in First Quarter By – Gary D. Halbert

Posted on 01. Aug, 2019 by .

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Previously, I reported that household debt rose to a record high in the first quarter, but also that household balance sheets improved to the best level in years, according to the Federal Reserve. Well, new Fed data came out with some specific numbers. […]

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California Rent Control: Lawmakers Have Not Learned Their Lesson! by – Ethan Blevins

Posted on 01. Aug, 2019 by .

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Economist Thomas Sowell once quipped, “The first lesson of economics is scarcity” and “the first lesson of politics is to disregard the first lesson of economics.” […]

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Legal Q & A by – Rich Beckman

Posted on 01. Aug, 2019 by .

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Question 1My tenant just gave me 30 days written notice. If I give her a 24-hour notice via email or text, can I show the unit to prospective new tenants? I thought this was a given but she claims I can’t show the place until she has vacated the property. Thanks in advance for your reply.
Answer 1: You are both slightly misinformed. You, as the owner, have the right to enter the unit, pursuant to Civil Code 1954 (which is easily found online to review), but the purpose of the entry is limited to six specific reasons, one of which includes  “To …exhibit the dwelling unit to prospective or actual tenants.” […]

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Management Tips from MRLANDLORD.COM Ten Reasons Why Landlords Should Not Feel Guilty About Evictions

Posted on 01. Aug, 2019 by .

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Create More Value, Increase Rent

Let’s say you have a single family rental: 1,200 square foot, two bedrooms, one bath that also has a living room and family room. Your last renter has recently moved out and you are preparing to get it ready to re-rent. You take Mr. Landlord’s advice about the first thing on our filling vacancy checklist which is NOT to simply look at the comps to see what is the going market rent, but to instead determine how much rent you want. […]

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