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Archive for February, 2020

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Christmas Miracle in Long Beach Tenant Relocation Ordinance Will Be Repealed!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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Socialist Party Crushed in Latest British General Elections By-Gary D. Halbert

Posted on 01. Feb, 2020 by .

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As you likely know, the United Kingdom recently held a general election where Boris Johnson and his conservative Tory Party delivered, as the Brits would say, a thumping to the Liberal/Socialist Labour Party led by Jeremy Corbyn. What you may not know is why. The mainstream media would have us believe that the only reason […]

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Communication Breakdown: Improving Interactions Between Property Managers and Owners By-David Crown

Posted on 01. Feb, 2020 by .

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I’ve written often about the importance of open communication between a property manager and the property owners they represent. Transparency is paramount in our industry, where owners ought to know exactly what they’re paying for, and managers ought not act on assumptions. In this article, I’ll present a comprehensive guide for positive and profitable interactions […]

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Start Your New Year’s Success – Do You Know Your Building’s Financials? By-Cliff Hockley

Posted on 01. Feb, 2020 by .

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“The biggest mistake many investors make is to ignore the numbers generated by their properties.” Financial Statements Let’s start with financial statements, or lack of them. Many real estate investors only track the results of their real estate investments at tax time. Instead investors should be reviewing their results by reading their financials on a […]

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California Taxpayers Are Under Attack, But We’re Still Fighting for You! By-Jon Coupal

Posted on 01. Feb, 2020 by .

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There is little doubt that California taxpayers are under attack from all sides.  Our elected leadership continues to burden both businesses and homeowners with an endless array of regulations and taxes.  It is little wonder why there has been a significant uptick in outmigration by both businesses and individuals from California.  That is why it […]

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How to Decide When to Sell By- Terry Moore, CCIM

Posted on 01. Feb, 2020 by .

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“How do I know when it’s time to sell?” That’s a common question when I speak at a group of landlords or investors. The short answer is: “You can’t.” There’s no magic formula. You’ll never have perfect knowledge. You can never “know.” You must decide. Sometimes, the decision almost makes itself.

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Can Kanye West Resolve L.A.’s Housing Crisis? Not if City Bureaucrats Have Their Way By-Phillip Bader

Posted on 01. Feb, 2020 by .

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If you only know Kanye West from his music (or the Award Show Interruption Heard Round the World), you would be forgiven for being more than a little surprised by the headline above. But there are few things about Kanye West that aren’t surprising. This past summer, Kanye began work on a new housing community […]

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How to Handle Suspicious Documentation for Assistance Animals By – Ellen Clark

Posted on 01. Feb, 2020 by .

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If you suspect that documentation for assistance animals is suspicious, you may ask for more information. Recently, you may have noticed documentation coming from websites that offer assistance animal “certifications” for a fee, but they appear to provide this documentation without firsthand knowledge of a person’s disability or what assistance or support the animal provides.

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Who Must Pay a Resident Manager’s Cell Phone Bill? by – Dale Alberstone, Esq.

Posted on 01. Feb, 2020 by .

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Hello everybody.   My discussion this month addresses the question of whether an apartment owner must pay any portion of his/her manager’s cell phone bills if the manager uses a personal cell phone for work-related purposes.  More broadly, do employers have to pay any part of their managers’ monthly cell phone bills? The answer depends […]

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Did You Know By Dennis Block

Posted on 01. Feb, 2020 by .

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Acceptance of Partial Payments Via Bank Deposit (Residential Tenancy)  There is no obligation to accept partial payments during the pendency of a 3-Day Notice or any time after the notice has expired. If you have it set up to where the tenant is to deposit funds into your bank account and the tenant deposits a […]

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New York Challenges Rent Laws!

Posted on 01. Feb, 2020 by .

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New York Challenges Rent Laws! The below article is from the RSA Reporter, the official publication of New York’s Rent Stabilization Association. The Rent Stabilization Association (RSA), New York’s apartment association together with the Community Housing Improvement Program (CHIP) and individual property owners filed a lawsuit challenging the constitutionality of the New York Rent Stabilization […]

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Newsom Makes a Few Good Moves By – Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Jan, 2020 by .

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There is little debate that California is a harsh, anti-taxpayer environment ruled by a tax-happy majority party.  However, in this super-partisan environment that grips both California and the entire nation, it is important to point out when our political adversaries do something positive.

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Efforts to Curtail Rampant Abuse of Emotional Support Animal Requests By – the National Apartment Association

Posted on 01. Jan, 2020 by .

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A lack of clarity in the federal law governing reasonable accommodation requests for assistance animals (covering both service animals and emotional support animals) creates a loophole for bad actors to abuse the system. The most common cases of misuse involve requests for an emotional support animal, where the resident obtains documentation on demand from online […]

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Legal Q & A by – Richard Beckman

Posted on 01. Jan, 2020 by .

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Question 1: I have a Section 8 tenant who regularly fails to pay his very minor share of the rent. The Housing Authority pays about 90%. I am reluctant to bring an eviction action, because I have heard I can’t collect any rent during the action, or the case will be dismissed. I am very concerned […]

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Did You Know by – Dennis Block

Posted on 01. Jan, 2020 by .

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Tenant Death in a Unit California law requires that prospective tenant be informed where there has been a death in a unit. This disclosure must continue for a 3-year period. It is only where the actual death occurred in the unit. It also does not apply to other units on the property, only that unit […]

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Can I 1031 Exchange Out of a DST? By Dwight Kay, CEO and Founder of Kay Properties and Investments, LLC

Posted on 01. Jan, 2020 by .

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If you’re looking for a clear and concise answer to this question, here it is: Yes, you can 1031exchange out of a DST. If you’re the type who wants to know a little more about the hows and whys of 1031 exchanges and DST, we are happy to elaborate.  First things first, a DST is […]

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Management Tips from MRLANDLORD.COM Three Questions You Should NEVER Ask An Applicant By – Jeff Taylor

Posted on 01. Jan, 2020 by .

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Recently, I wrote a tip on the subject of how to effectively handle resident repair requests. My tip was shared with 11 other members of the Forbes Real Estate Council. Three of the tips are highlighted below:

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

Posted on 01. Jan, 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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Landlord Pays $16,000 for Discrimination Against Family with Children By – Ellen Clark

Posted on 01. Jan, 2020 by .

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Earlier this year, the California Department of Fair Employment and Housing (DFEH) settled a familial status housing discrimination case in which a family of four alleged that a property management company refused to allow them to rent an apartment in a multi-unit community because the property manager did not consider children to be appropriate residents […]

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Resident Managers: SUMMARY of California Wage, Hour and Rent Laws for 2020 By- Dale Alberstone

Posted on 01. Jan, 2020 by .

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1.  General Rules: The California minimum wage for a resident manager is $12.00/hour for each hour worked during 2020.  California Overtime:  Overtime of 1½ times hourly rate (i.e. $18.00/hour) must be paid if the manager works more than 8 hours per day, 40  hours  per week, or more than 6 consecutive days in a row.

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Video Surveillance at Investment Properties? By – Cliff Hockley

Posted on 01. Jan, 2020 by .

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Video surveillance is not a new thing. One of the first recorded applications of video surveillance was in 1942 when it was used to view the launch of V2 Rockets in Germany.  This technology attained commercial use in the United States from 1947 -1957 along with the development of televisions.  The technology moved forward considerably […]

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The CPI is Arcane and Illegitimate! By – Michael Millman, Attorney

Posted on 01. Jan, 2020 by .

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Below is an open letter to Robert Cage, Assistant Commissioner of the U.S. Department of Labor regarding the Consumer Price Index AND … Mr. Cage’s response.

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Reflection is a Route to Wisdom by – Terry Moore

Posted on 01. Jan, 2020 by .

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“Wisdom is the ability to recognize, and the inclination to choose, the highest and best goal, and the surest means of attaining it.” ~ J. I. Packer

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All About Asbestos By – Parth Kumar

Posted on 01. Jan, 2020 by .

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What is asbestos? Why did we use this mineral if it is dangerous for humans to breathe? How do I know if I have it in my home? These are all very valid questions from worry some people that are just learning about a naturally occurring mineral called asbestos. In this article, I will be […]

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2020 New Laws and Resolutions for Landlords by Patricia A. Harris

Posted on 01. Jan, 2020 by .

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AOA Advisors get calls daily from our members with a variety of problems; some unfortunately after our owners are already in trouble.  Please use the below as a guide to easier management, money-saving ideas and to avoid potential legal problems in the New Year.   Our goal is your continued success!

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Legal Q & A by – Dennis Block

Posted on 01. Jan, 2020 by .

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Question One: I have a 20 unit building in the City of San Fernando. There was a death in one of the units. I know under California law I must disclose the death to prospective tenants. Do I have to disclose this information to applicants when leasing other units in the complex?

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Legal Q & A by – Franco Simone

Posted on 01. Jan, 2020 by .

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  Q: I would like to completely prohibit smoking inside my apartment units, but allow smoking in common areas.  Am I allowed to restrict some areas, but not others?

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Words to Lease By: Advice for Accidental Landlords By – David Crown

Posted on 01. Jan, 2020 by .

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It takes more than a keen business sense to lease rental property in a way that maximizes profits, meets all necessary legal requirements and protects you as an owner. If you recently moved from your home and leased it out, or inherited a rental, you’re in one of the largest demographics of real estate investors: […]

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Top 5 Technologies Renters Want – Are You Up-to-Date? By – the Editors of the Rental Housing Journal

Posted on 01. Jan, 2020 by .

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A new survey shows the top five technologies that renters want and that, over the last year, residents’ interest in rental technologies has grown by an average of 7 points.

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NEW RESIDENT MANAGER LAWS FOR 2020 by – Dale S. Alberstone, Esq.

Posted on 01. Jan, 2020 by .

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Hello everybody.  Most everyone hopes that 2020 will bring about the election of great president, low taxes, world peace, and other important things like that. As the legal writer for the Apartment Owners Association, my hope and 2020 New Year’s Resolution wish for AOA members is more modest, but nonetheless extremely important.  In fact, it […]

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Something to Think About By – Klarise Yahya

Posted on 01. Jan, 2020 by .

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Continued from Part 7 . . . The widow’s advantage was that she saw “when” not as a fixed point in the future but as a trend line. “Over time,” she thought, “the line will go up. This investment will compound better than the available alternatives”. While she seldom bought individual companies anymore, sometimes she […]

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Qualified Opportunity Zone Funds – A Tax Efficient Investment Vehicle for Those Selling Appreciated Assets By – Steve Haskell, Vice President

Posted on 01. Dec, 2019 by .

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What is a Qualified Opportunity Zone (QOZ)? A QOZs as described under the 2017 Tax Cuts and Jobs Act is a social program with the intent of redeveloping impoverished districts throughout the country by driving private capital to over 8,700 underserved communities and 35M Americans throughout by offering tax incentives to investors. (1) 

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5 Ways to Communicate Better with Challenging Tenants By – Holly Welles

Posted on 01. Dec, 2019 by .

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Many landlords wish they could communicate better with challenging tenants who pose a number of problems for management. As a landlord, you may occasionally encounter tenants who bring a range of issues with them, like missing rent payments or keeping pets when the terms of their lease don’t allow it. You don’t have to dread […]

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