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Archive for July, 2020

Are L.A. City Officials Causing the Housing Shortage? By-Al Leibovic

Posted on 01. Jul, 2020 by .

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Below is an open letter sent to Judge Carter of the United States District Court for the Central District of California. SUBJECT:  Developers now have hundreds of new apartments available to house homeless families and L.A. City said they are not interested.  If you want to know more, we should talk. Dear Judge Carter: I […]

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The “Big Lie” Behind COVID-19 – Part 1

Posted on 01. Jun, 2020 by .

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A version of this article by Porter Stansberry first appeared on April 17, 2020 in The Stansberry Digest, published by Stansberry & Associates Investment Research, an independent investment research firm.  You can visit them at www.stansberryresearch.com.   Recently, an old friend said to me, Porter, I’m almost afraid to ask… but what do you think […]

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DID YOU KNOW By- Dennis Block

Posted on 01. Jun, 2020 by .

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COVID-19   Rent Deferment The City of San Diego has instituted a temporary moratorium on residential and commercial evictions, due to nonpayment of rent.  It is based on when the tenant demonstrates a substantial decrease in income or substantial out-of-pocket medical expenses, resulting from the COVID-19 pandemic. 

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Millions of U.S. Small Businesses May Never Reopen By-Gary D. Halbert

Posted on 01. Jun, 2020 by .

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While this may not come as a surprise, many U.S. small businesses that are shuttered right now face a financial disaster. Unfortunately, it is becoming increasingly clear that millions of small businesses may not be able to reopen their doors when the economic lockdown ends.

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Letters to the Editor … Open Letters to Governor Newsom to Oppose AB 828

Posted on 01. Jun, 2020 by .

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Dear Governor: I strongly oppose bill AB 828! This bill places an unfair burden on all landlords who are already severely limited by rent control laws. Landlords are inundated with property taxes, mortgages, insurance, utility bills, vacancies, repair and maintenance. We are unable to properly maintain units as needed or get cited by the city […]

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How Landlords Can Avoid Liability for the Debt of Their Corporations By- Dale Alberstone

Posted on 01. Jun, 2020 by .

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Hello everybody.  From time to time, apartment owners take title to their property in the name of a corporation in which they are the sole shareholders.  Typically, that is done for two reasons: (1) asset protection and (2) tax benefits. 

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“I’ll Double My Laundry Income …” By-John Cottrell, General Manager, All Valley Washer Service

Posted on 01. Apr, 2020 by .

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If I only had a roll of quarters for every time I heard that statement from an apartment owner interested in purchasing their own machines.  After further research, they usually come to realize that the “agitation” of owning their own might be more than they think.

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Legal Q & A By-Richard Beckman

Posted on 01. Apr, 2020 by .

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   Question 1: My tenant complained about mold after a recent rain, and it’s the first I’ve heard of any problem with any water intrusion into the apartment (apparently, there was a cracked window that allowed a small amount of moisture to seep in which eventually resulted in mold below the window). The tenant is threatening […]

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Legal Q & A By-Franco Simone

Posted on 01. Apr, 2020 by .

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  Q: Another landlord I know told me that my rental property is exempt from California rent control known as the Tenant Protection Act of 2019. What types of rental properties are exempt from rent control?

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DID YOU KNOW By-Dennis Block

Posted on 01. Apr, 2020 by .

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Eviction of Former Owner Not all eviction cases involve tenants. In some cases, an unlawful detainer can involve the eviction of the former owner. This can come up in two situations. In one scenario the former owner has sold the house and refuses to vacate. There is also the situation where the premises have been […]

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OPEN LETTER TO CITY COUNCIL MEMBERS REGARDING EVICTIONS MORATORIUM

Posted on 01. Apr, 2020 by .

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Dear Members of the Council: As an owner and manager of income property, I have been losing the struggle for fairness from this Council. The last four years have seen a steady reduction of property rights via the implementation of a terrible Rent Control, Tenant Protection and the Ellis Act.  

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The Importance of the Move-In/ Move-Out Inspection By-Robert Griswold

Posted on 01. Apr, 2020 by .

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The number one source of resident/landlord disputes is the disposition of the resident’s security deposit.  Many of these potential problems can be resolved with proper procedures even before the resident takes possession of the rental by using a move-in / move-out inspection checklist.  

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Property Manager Ordered By Court to Pay $160,000 in Sexual Harassment Settlement! By- the Editors of the Rental Housing Journal

Posted on 01. Apr, 2020 by .

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A Kansas property manager and his wife must pay $160,000 in damages and civil penalties to resolve a sexual harassment Fair Housing Act lawsuit alleging that he harassed numerous female tenants since at least 2009 at residential properties he owned or operated, according to a release from the U.S. Department of Justice.

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Criminal Record Denial Costs Owner Over One Million Dollars!- By Judy Drickey-Prohow, Attorney

Posted on 01. Mar, 2020 by .

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One of the first cases in the United States to challenge a landlord’s blanket ban on renting to people with criminal records as discriminatory, has resulted in a settlement for the plaintiff of more than a million dollars. The plaintiff in that case, The Fortune Society (“Fortune”), is a non-profit organization that provides housing and […]

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How to Avoid My Top 7 Landlord Mistakes- By Larry Arth

Posted on 01. Mar, 2020 by .

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Learning from your mistakes so you can master your business is the key to your success. You can learn from other people’s mistakes, so I would like to share mistakes that I have either personally made or have watched investor-clients make. So here is how to avoid my top seven landlord mistakes.

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A Critical Life Lesson:  Do You Know How to Catch Wild Pigs

Posted on 01. Mar, 2020 by .

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Critical Life Lesson: “Do You Know How to Catch Wild Pigs? This is for all you educated people that think uneducated people are dumb.  Let’s see how this works out for you and your family if this country keeps pushing for socialism. There was a chemistry professor in a large college that had some exchange […]

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Coming Next Month!  The FREE “Million Dollar”Trade Show and Landlording ConferenceandA Critical Life Lesson:  Do You Know How to Catch Wild Pigs

Posted on 01. Mar, 2020 by .

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The Big Show You’ll want to remember to mark your calendars for the big “Million Dollar Trade Show and Landlording Conference” next month.  The big show will be held on Wednesday, April 29th at the Long Beach Convention Center in Hall C, 300 East Ocean! WIN A FREE TESLA MODEL 3!

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A California Housing Crisis Mystery: Rents Are Way Up This Decade, But Eviction Filings Are Way Down- By Matt Levin

Posted on 01. Mar, 2020 by .

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  Shirley Gibson isn’t quite sure how to feel about these numbers.  As directing attorney of the Legal Aid Society of San Mateo County — which offers legal services to low-income tenants caught between the preposterously priced southern suburbs of San Francisco and the preposterously priced suburbs of Silicon Valley — she’s seen firsthand how […]

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Legal Q & A- By Franco Simone

Posted on 01. Mar, 2020 by .

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Q: I am renting out an apartment unit. One of the applicants was arrested for assault last month but has not been convicted of the crime. I do not feel comfortable renting to someone who was arrested for assault.  Can I deny his application based on his arrest?  A: No, you may not deny a […]

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NEWS RELEASE – NMHC and NAA Statement on the HUD’s Emotional Support Animal Guidance

Posted on 01. Mar, 2020 by .

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WASHINGTON, D.C. — Statement from the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) on the release of new emotional support animal guidance from the U.S. Department of Housing and Urban Development: NMHC and NAA are pleased that the U.S. Department of Housing and Urban Development (HUD) released new guidance clarifying the responsibilities […]

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Legal Q & A- By Dennis Block

Posted on 01. Mar, 2020 by .

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Question One: I am planning on leasing my single family residence. My property is located in San Diego. Am I under any restrictions with regard to the new statewide rent control law, AB 1482? Answer One: A single family residence is exempt from restrictions pursuant to AB 1482. You are free to raise the rent […]

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Oakland City Council Goes Crazy!- By AOA

Posted on 01. Mar, 2020 by .

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    The Oakland City Council has passed a law to make it illegal for housing providers to obtain a criminal background check on prospective tenants.  Berkeley, Emeryville and Alameda may just follow suit.  The measure was passed with no City Council person voting against it. What is it? They called it the Fair Chance […]

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Apartment Investing: What Kind of Good Deal Do You Want?- By Terry Moore

Posted on 01. Mar, 2020 by .

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Every apartment investor wants a good deal. But a good deal for one investor may be a poor choice for another investor. Here are four categories of “good deal.” Which one is right for you?

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How to Be a More Successful Landlord- By Jay P. DeCima

Posted on 01. Mar, 2020 by .

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Operating rental properties and dealing with your tenants are not separate jobs.  They are inseparable parts of landlording. I owe a great deal of my real estate success to my landlording abilities.  Some folks argue that professional property managers are paid a decent percentage of the gross rental income to relieve owners of this thankless […]

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Something to Think About #90 – Information, Not Advice – Part 10- By Klarise Yahya

Posted on 01. Mar, 2020 by .

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Managing Expectations  “Mr. Unrealistic Hopes, meet Ms. Unmet Goals.” Somewhere there’s a survey showing that Millennials (b: 1981-1996) who have never experienced a stock market correction (a decline of 10% or more), let alone a bear market (decline of 20% or more) have convinced themselves that the average growth of a diversified basket of large […]

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DID YOU KNOW- By Dennis Block

Posted on 01. Mar, 2020 by .

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New Requirements under Statewide Rent Control As you might be aware, certain residential income property is exempt under AB 1482. This includes properties which received a Certificate of Occupancy within the last 15 years. In addition, Single Family Residences, Townhomes and Condominiums are exempt unless title is held in a corporation or a real estate […]

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The Best Landlording Advice Ever Received- By Jeffrey Taylor, “Mr. Landlord”

Posted on 01. Mar, 2020 by .

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Ten rental property owners share what they believe is the single best piece of landlording advice that they have ever received. Here are their school of hard knocks words of wisdom:

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Los Angeles City Rent Stabilization – NEW LAWS AND UPDATES- By Patricia A. Harris

Posted on 01. Mar, 2020 by .

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Hopefully, if you own apartments in the City of Los Angeles and are under the L.A. Rent Stabilization Ordinance, you have already paid your building’s registration fee which was due by February 29, 2020.  The city raised the fee per unit from 24.50 to 38.75 per unit for 2020. They have also changed how you […]

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Legal Q & A by – Franco Simone, Esq.

Posted on 01. Feb, 2020 by .

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Q:  I have tenants who have not paid rent and are claiming they have bed bugs. Can I give them a three-day notice to pay rent or quit before I inspect the unit?   A: No, you should not give a three-day notice to pay rent or quit until the bed bug inspection is completed and […]

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Renters Insurance Program for Apartment Owners & Property Managers By-GSI Insurance

Posted on 01. Feb, 2020 by .

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Why Do My Tenants Need Renters Insurance?  Fire, explosion, smoke, and water damage are just a few examples of the types of losses caused by tenants.  Did you know that: The average amount of damage caused by an apartment fire is $11,000.  There are 103,000 fires set annually by tenants residing in multi-family units.  70% […]

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What are the Best Properties for a 1031 Exchange? By-Dwight Kay and The Kay Properties Team

Posted on 01. Feb, 2020 by .

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You are about to sell your property, and your CPA tells you that there is a large tax consequence lurking around the corner. In order to avoid paying capital gains and depreciation recapture tax, you consider a 1031 exchange whereby your taxes are deferred from the sale into a new property or group of properties. […]

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Think Statewide Rent Control is a Bad Idea? Look What Ocasio-Cortez Is Proposing – By Brian Wallace, SPOSFI member

Posted on 01. Feb, 2020 by .

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You know how we’re always having to explain San Francisco’s rent control to out-of-state visitors? Well, if New York’s Congressional Representative Alexandria Ocasio-Cortez (“AOC”) has her way, we won’t have to do that anymore, because every state in the nation will have rent control. The Congresswoman’s ambitious, anti-poverty bill, “A Just Society,” aims, in her […]

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Something to Think About #89: Information, Not Advice Part 9 by – Klarise Yahya

Posted on 01. Feb, 2020 by .

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Many of the same barriers to entry that are used to choose promising stocks can also be applied to help select auspicious apartment buildings. The elements are the same-but-different in the way that middle C is the same note whether played on the oboe or the cello, but the sound is not the same.  The […]

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Essential Landlord Tips and 12 Ways to Collect Rent on Time By- Jeffrey Taylor, “Mr. Landlord”

Posted on 01. Feb, 2020 by .

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Start your New Year off by adhering to the below tips that will help you be a successful landlord:

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Christmas Miracle in Long Beach Tenant Relocation Ordinance Will Be Repealed! By-Joni Weir

Posted on 01. Feb, 2020 by .

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The City of Long Beach has contacted Better Housing for Long Beach and our legal team letting us know they intend to repeal the tenant relocation ordinance – the one that is the subject of our lawsuit.   They included a link of a published article regarding their intention to repeal the tenant relocation ordinance.

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New Year’s Tips for “Smart Landlording” By-Teresa Billingsley

Posted on 01. Feb, 2020 by .

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Are you new to owning rental property and do not have a clue how and where to start? Or are you a property owner who has been in the field awhile and are seeking suggestions how to improve on your business and make it more profitable and productive? If you fall into either of these […]

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Legal Q & A by Richard Beckman

Posted on 01. Feb, 2020 by .

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Question 1: Is there a form to use for properties that are not exempt from the new California rent control law that begins 1/1/20?  Is there a form to use for properties that the rent will be rolled back on 1/1/20 to 5% plus CPI?  And what website do you recommend when determining the CPI for […]

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Legal Q & A by Dennis Block

Posted on 01. Feb, 2020 by .

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Question One: I allow my tenant to pay rent by depositing the funds directly into my bank account. When I did not get the rent, I issued the tenant a 3 Day Notice to Pay Rent or Quit. I did not receive the rent within the three days, so I initiated an unlawful detainer action. […]

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5 Multifamily Investing Predictions and Expectations for 2020 By-Vinney Chopra and Jon Roosen

Posted on 01. Feb, 2020 by .

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The market for multifamily properties is continuously changing. In the light of major political, social, and economic developments, investors will have to look at the bigger picture. Adaptation is the key to success amid an uncertain landscape. Whether to resist or go with the flow will depend on what investors want to achieve in the […]

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What Is It That You Really Want? By-TERRY MOORE, CCIM

Posted on 01. Feb, 2020 by .

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“Take what you want but pay for it.” ~ Spanish proverb It would be wonderful if we didn’t have to pay the cost, if we could just take what we want. But the universe doesn’t work that way. That’s true for monetary costs and it’s also true for the trade-offs that come with every decision […]

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