Whether you operate a shoe shine stand or a multifamily property, your business is built on renewals, or re-occurring income from existing customers. In multifamily, a high percentage renewal rate makes for a much more predictable income stream. The value of a lease renewal can be quantified. Granted, while different for each property, the amount…
Current market conditions have made investing in long-term rental property more appealing than ever. If you buy a few rental properties and self-manage them, you’ll have several duties (in addition to cashing checks). One of the biggest is trying to keep your maintenance costs as low as possible.
Any landlord who has done an eviction knows that tenants always claim the landlord breached the “warranty of habitability” as a defense to an eviction. In order to be successful, a tenant must prove four elements; 1) A substantial defect existed in the rental unit; 2) the landlord had either actual or constructive knowledge of…
Definition of a bubble: “When no other intelligent investor will pay you what your asset is currently worth.” I recently talked to a packed crowd at the latest AOA. meeting. It was standing room only; wall to wall. Hmmmm, I wonder what’s going on? So I made the statement, “You guys are either really excited…
Question 1: We discovered that our tenant has sublet a room in the apartment. This is a breach of her contract. We are trying to figure out how to deal with this situation so we will not be legally bound to a contract with this subtenant, if the current tenant moves out. We were thinking…
Don’t get freaked out about the term “rental property management”, it sounds threatening but all it really means is: A Game Plan to Keep Your Rentals Headache Free, Cash Flow Animal Does that sound a little better than rental property management? You better believe it does and guess what. Managing rental apartments is simply a…
Earlier this year, the California Supreme Court agreed to hear a case that could determine whether the right to vote on local taxes, which is constitutionally guaranteed by both Propositions 13 and 218, will cease to exist.
Flying home on American Airlines this past July on a six hour leg from Boston to Los Angeles, the woman seated next to me placed her small Poodle on the airplane’s cabin floor just in front of her feet. After I made a few comments to her about how cute her puppy was (although it…
To almost no one’s surprise, the Fed voted not to raise its key short-term interest rate in June. While a number of Fed officials were vocal about raising the rate, the very disappointing May unemployment report on June 3, which showed the economy produced only 38,000 new jobs last month versus a projected 160,000, dashed…
I live in Los Angeles and I am a Trial Attorney. My family has rental properties in Los Angeles and Santa Monica. I have fought and litigated in both Los Angeles and Santa Monica against restrictive, unlawful, illegal and oppressive rent control.