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Archive for November, 2019

Government Interference Destroys Housing Investments By – Terry Moore, CCIM

Posted on 01. Nov, 2019 by .

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Income and wealth inequality have grown in the last fifty years. On National Public Radio a professor in favor of inclusionary housing dismissed the data which seemed to say inclusionary housing policies decreased the rate of construction in the inclusionary housing zone in relation to the broader marketplace. I’ve heard many people do the same. […]

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The High Cost of Rent Control – Part II By the National Multifamily Housing Council

Posted on 01. Nov, 2019 by .

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In addition to the substantial economic costs associated with rent control, [from Part I] the decision whether to regulate rents raises difficult questions of social policy. Social Implications of Rent Control …

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Los Angeles Wants to Tax Landlords for Vacant Units By – Brian Wallace, SPOSFI Member

Posted on 01. Nov, 2019 by .

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Lawmakers in Los Angeles seem to be taking a cue from our own Board of Supervisors as they explore legislation to impose a tax penalty on property owners who leave residential rental units vacant.  As John Phillips notes in the Los Angeles Daily News, Los Angeles City Councilmembers Mike Bonin, Marqueece Harris-Dawson, Paul Koretz and […]

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A Recession is Coming, the Question is When By – Gary Halbert

Posted on 01. Nov, 2019 by .

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As clients and regular readers know, I have been more upbeat on the U.S. economy than many of my fellow financial writers in recent years, and especially this year. Several of the writers I read have been calling for a US recession this year and warn that it could be a rough one.

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Democrats get SLAPP’d for First Amendment Violation By – Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Oct, 2019 by .

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Democrats pay lip service to the First Amendment and claim to encourage political engagement but, in reality, their desire is to silence all views but their own. Last month, a Court of Appeal made them pay for their hypocrisy.

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DID YOU KNOW? By – Dennis Block

Posted on 01. Oct, 2019 by .

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Failure to Pay a Security Deposit It is unwise for landlords to lease a unit without first obtaining the required security deposit. Promises to pay the security deposit at a later time or in installments, will usually result in an eviction action being filed. If this is your situation, be advised that you do not […]

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Brand New 3-Day Notice Laws and Brand New Unlawful Detainer Laws By – Dale Alberstone, Esq.

Posted on 01. Oct, 2019 by .

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Hello everybody.  In case you are not aware, on September 1, 2019 new 3-Day Notice laws and New Unlawful Detainer laws took effect.  And they affect every landlord in California who serves a 3-Day to Pay Rent or Quit and every landlord who files an eviction action against a tenant. 

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The High Cost of Rent Control – Part I By – the National Multifamily Housing Council

Posted on 01. Oct, 2019 by .

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That rent control is an ineffective and often counterproductive housing policy is no longer open to serious question.  The profound economic and social consequences of government intervention in the nation’s housing markets have been documented in study after study over the past twenty-five years.  In response to this hard-earned experience, states and local jurisdictions from […]

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Critical Living Trust and Estate Planning Mistakes By – Michael K. Elson, Attorney

Posted on 01. Oct, 2019 by .

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With proper guidance, drafting, and implementation, your living trust estate plan will be effective to avoid probate, unnecessary taxes, and court control of your assets at your death or in the event of incapacity.  However, without proper guidance, it is easy to make mistakes. First of all, incorrect assumptions or lack of prioritizing may lead […]

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What are the 7 Traits of a Successful Wholesaler? By – Sharon Vornholt

Posted on 01. Oct, 2019 by .

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Wholesaling is a popular real estate strategy, and it’s one that I believe should be in every investor’s toolbox. In its simplest form, wholesaling is buying a property at a deep discount and then selling it to someone for a higher price. Now you might be wondering, what are the traits of a successful wholesaler […]

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A Landlord’s Open Letter on Why He is Getting Out of the Business – Will California Rental Property Owners Follow?

Posted on 01. Oct, 2019 by .

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Here is one landlord’s open letter on why he’s getting out of the rental property business, and therefore no longer needs our newsletter. It is something he thought we should share with our readers.

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Legal Q & A by – Richard Beckman, Attorney

Posted on 01. Oct, 2019 by .

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Question 1: Can you review any new landlord-tenant laws for 2019? Answer 1: Yes. There were several new state-wide laws affecting landlord tenant relations, but the one that may make the most impact is Assembly Bill No. 2343, which removes weekends and court holidays from the calculation of when a three day notice to cure […]

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Something to Think About #85: Information, Not Advice Part 5 by – Klarise Yahya

Posted on 01. Oct, 2019 by .

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Continued from Part 04  . . . Standard Deviation (“How sure am I to get it?”) The standard deviation (SD) straddles the mean (the “average”), with half the SD on one side and the other half on the opposite side.

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Healthcare Tax for Citizens, Free Healthcare for Noncitizens and Democrats get SLAPP’D for First Amendment Violation By – Jon Coupal

Posted on 01. Oct, 2019 by .

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If there was any question whatsoever as to whether California has gone completely off the rails, proposals in the new state budget should remove all doubt.  Perhaps the most egregious of these involve changes in state law as they relate to health care.

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Legal Q & A by – Dennis Block

Posted on 01. Oct, 2019 by .

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Question One: I leased a house to a tenant. I requested a security deposit in the sum of $1,500 and he promised that it would be paid within 30 days. It has now been four months and he refuses to pay the security deposit. I had him sign a one-year lease. What can I do […]

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Will Your Insurance Cover the Earthquake and Flood Damage That Is Predicted to Happen? By GSI Insurance Solutions

Posted on 01. Oct, 2019 by .

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California Storm Threatens $725 Billion Worth of Damage  On July 4, 2019, a 6.4 magnitude earthquake hit just north of Los Angeles, California. The next day, a 7.1 magnitude earthquake hit the area. Now, scientists are predicting a massive California storm that could cause a building toppling earthquake and the collapse of the Whittier Narrows […]

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California Passes Mandatory Healthcare Insurance By – Pete Muffoletto

Posted on 01. Oct, 2019 by .

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The California State Assembly passed a mandatory Individual Healthcare Insurance Responsibility Mandate under which a penalty may be imposed for each month that an individual fails to enroll in and maintain essential coverage.

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California Passes Statewide “Tenant Welfare” (Rent Control!)

Posted on 01. Oct, 2019 by .

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California lawmakers have passed a five-percent-plus-inflation rent cap bill.  Gov. Gavin Newsom, who put together the deal to pass the bill, said he would sign it [signed Tuesday, October 8th]. The California rent cap will take effect January 1, 2020 for the next 10 years at which time an “effectiveness” report will be submitted.

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3 Things to Prepare Before You Sell Your Commercial Property By – Nick Schoch

Posted on 01. Oct, 2019 by .

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Things change: your perspective, your appetite for risk, and even your investment criteria. Sometimes the best thing you can do is move forward, and that can mean selling an investment property. When this time comes, you will have to pay off any existing liens before transferring title. For many investors, the biggest lien is their […]

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Recession Ahead? Oops, U.S. Consumers Didn’t Get the Memo By – Gary Halbert

Posted on 01. Oct, 2019 by .

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It is becoming increasingly clear that the Left and the mainstream media believe the only way to get President Trump out of office next year is a U.S. recession. They are increasingly stoking fears of a recession next year, and that led to some wild markets last week. The Dow Jones plunged 800 points last […]

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ADA Compliance in Three Steps by – Anthony C. Guichard

Posted on 01. Oct, 2019 by .

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There is a misconception regarding what is ADA [American Disabilities Act] Compliance is and how as a property owner in California to achieve it. I have written several articles in the past for the AOA because I am constantly surprised at the amount of incorrect information out there for the public – especially for those […]

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Soft Story Retrofitting – What to Expect By – Dee Soffer

Posted on 01. Oct, 2019 by .

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Q1: I have owned and managed multiple buildings in the L.A area. Some of my buildings are considered soft story and I have already completed three properties with the same company. They are almost similar in the number of units, yet the third building took substantially longer to complete than the other two. Overall, I […]

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How Does Rent Control Affect the Value of Multifamily Property? By – Gabe Johansen

Posted on 01. Oct, 2019 by .

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The below article was written by Gabe Johansen of SMI Commercial Real Estate from the Rental Housing Journal. Over the last few months, you have undoubtedly read numerous articles about rent control.

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Landlords’ Rent Philosophies: Pricing, Tenant Quality, Occupancy and Cash Flow By – Richard Brody

Posted on 01. Oct, 2019 by .

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Have you ever wondered why certain storefronts, and apartments, etc. seem to remain vacant longer, than other similar ones which might be owned by different owners/ landlords? 

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Trade Show a Huge Success!

Posted on 01. Oct, 2019 by .

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Trade Show a Huge Success! Our Million Dollar Trade Show and Landlording Conference last month was a huge success!  You should have been there! Our members were more educated, motivated and stimulated by some very knowledgeable speakers who helped give them that one idea that would help them make and keep more money than ever!  […]

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Legal Q & A By – Franco Simone, Esq.

Posted on 01. Oct, 2019 by .

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Q: This is my first time renting out my residential unit. The late fee provision in my lease allows me to charge a percentage of the rent or a flat fee. How much can I charge for the late fee? A: Your late fee should be no more than 6% of the monthly rent. For […]

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Statewide Rent Control: The Battle Continues by – Noni Richen, President, SPOSF/SPOSFI

Posted on 01. Oct, 2019 by .

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Our united organizations have continued our fight against Assembly member David Chiu’s assault on the California housing supply through his AB 1482 statewide rent and property control legislation. Our lobbyists have worked to implement changes to the proposed law, with limited success. For example, the original version exempted some small properties that are owner-occupied and […]

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“Tenant Welfare” is Spreading Like Wildfire Throughout California By – Cristine Tablante

Posted on 01. Oct, 2019 by .

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Here are the latest rent control updates to date in the following cities: Alameda, Culver City, El Cerrito, Glendale, Hayward, Inglewood, Long Beach and unincorporated cities in Los Angeles County.

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U.S. EPA Settles with Southern California Firms Over Lead-Based Paint Hazards

Posted on 01. Oct, 2019 by .

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LOS ANGELES – The U.S. Environmental Protection Agency (EPA) announced five lead-based paint enforcement actions—for a combined total of over $64,000 in settlements in Southern California. These companies failed to comply with federal regulations requiring them to protect workers and the public from exposure to lead.  

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Choosing the Right Vendor for Your Property By – Cliff Hockley

Posted on 01. Oct, 2019 by .

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Below is version of an excerpt from Cliff’s book, Successful Real Estate Investing. In six years as a property owner, Jules had been faced with numerous challenges with his vendors.  One of his apartment properties had its own sewage pump because the sewer line at the property was located below the city’s gravity-fed system.  The […]

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Have You Reviewed Your Property’s Performance? By – Lori Hammond

Posted on 01. Oct, 2019 by .

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Have you performed your property’s mid-year report card?  It is wise to take this opportunity to review your property’s achievement or progress toward its goals. Is occupancy meeting or beating projected results? How do the year to date expenses compare to the budget? How do they compare to the expense level from a year ago? […]

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Americans Claim Social Security Benefits Too Early By – Gary Halbert

Posted on 01. Sep, 2019 by .

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Before I jump into our main topic today, note that the first estimate of second quarter GDP came in better than expected at 2.1% (annual rate) last Friday and is expected to improve in the last half of this year. Now let’s get started.

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Soft Story Retrofitting – Still Puzzled? Ask the Expert! By Dee Soffer

Posted on 01. Sep, 2019 by .

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Q1: I own a soft-story property in LA and received a notice to comply almost two years ago. I got too busy and did not hire an engineer yet so I am concerned that I may not be able meet the submission deadline.  What are my options? Are there any fees or penalties involved?

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Rent Stamps Could Provide Some “Social Justice” For Rental Property Owners and New Renters By – Brian Wallace

Posted on 01. Sep, 2019 by .

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In 1979, when rent control was first passed in San Francisco, two important issues were not addressed: A needs-assessment of renters and The disproportionate social obligation imposed on those providing the housing How many of us know renters whose annual income far exceeds that of the property owner from whom they are renting?  This is […]

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It’s Here! The FREE “Million Dollar” Trade Show and Landlording Conference! Thursday, September 12th at the Los Angeles Convention Center – West Hall A

Posted on 01. Sep, 2019 by .

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Mark your calendars for Thursday, September 12th for AOA’s “Million Dollar Trade Show and Landlording Conference” in Los Angeles. You will meet just about every contractor and vendor you will ever need… it’s called the “Million Dollar Event” of the year. Come and help us celebrate and who knows, you may even go home with […]

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Spotlight on Sexual Harassment in Housing By – Ellen Clark

Posted on 01. Sep, 2019 by .

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While harassment of any kind is illegal, the topic of sexual harassment warrants special consideration. Every year, thousands of people face unwelcome comments and requests for sexual favors from landlords, property managers, maintenance workers, and security guards.

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Something to Think About #84: Information, Not Advice – Part 4 by Klarise Yahya

Posted on 01. Sep, 2019 by .

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Continued from Part 3 . . . The Horse One SD is defined as the range about the average return containing 68% of the data points, with half the data points being beneath the average return and the other half being above. Relative to any given asset, those two figures will reveal (a) how much […]

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NEWS RELEASE

Posted on 01. Sep, 2019 by .

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Multifamily Housing Survey Finds Strong Demand But Rent Control Threatens to Dim Outlook WASHINGTON, D.C. — The enduring strength of the apartment market was the main takeaway of the National Multifamily Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions for July 2019, as the Market Tightness (60), Equity Financing (56), and Debt Financing (80) […]

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California’s Housing Shortage -By Terry Moore

Posted on 01. Sep, 2019 by .

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You can’t have a conversation about the housing situation in California today without the words “shortage” or “crisis.” National media love to write about our “astronomical” housing prices and rents. Unfortunately, the crisis is real, and Californians don’t seem to have the political will to do anything to solve it.

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Attention Landlords! How to Write-Off Practically Anything By – Karla Dennis

Posted on 01. Sep, 2019 by .

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When it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they […]

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