The rental market in the US is in flux. People paying 40% of their income to rent has reached the highest number ever – the recommended proportion is 25 to 30% of income to rent. It is understandable that a market correction is coming, and it appears to be here. In the face of rising…
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! NEW 2023 RESIDENT MANAGER LAWS: For your protection, you should have a new, updated, written, legal Resident Manager Agreement containing all NEW LAWS. (Read Attorney Gary Ganchrow’s…
Welcome to the new year and the many opportunities for AOA members in 2023! We will continue to ramp up the frequency of in-person seminars that are held locally and throughout the state. These in-person events provide a tremendous opportunity to go deeper than the online events. Though face-to-face is the ideal way to meet…
Reasonable accommodation requests can be completely obvious and straightforward. Still, more often than not, they require a little bit more due diligence or investigation to verify the need for what is being requested. Along with that is the range of requests a leasing office can come across: accessible unit, live-in aide, and parking-spot requests, just…
When the Consumer Price Index jumped briefly above 9% earlier this year, Americans were told the higher inflation would be “transitory.” Regular readers may recall that I disagreed with this forecast at the time and warned that inflation jumps of that magnitude are often entrenched and very hard to bring down. While the CPI has since slipped…
WWII closed down in three acts. The Italians retired from the field in September, 1943. The Germans left in May, 1945. The Japanese pressed on another four months, not capitulating until the actual surrender document was signed on 2 September, 1945. Even then, there were Japanese belligerants who failed to get the memo and continued…
Baby Boomers, long the drivers of consumer culture in the United States, are no longer the top of the pecking order. Millennials and Gen Z, the generation after them, have taken over! Millennials are now the largest of all living generations. Gen Z, mostly the children of the smaller Gen X, aren’t far behind. And both…
Below are questions asked by rental property owners regarding California rent control laws followed by answers provided by eviction attorney Dennis Block. Question One: My property is subject to the Los Angeles City Rent Stabilization Ordinance. I read that you can proceed with evictions if tenants did not pay a security deposit equal to…
It might not be something you can check for in an apartment application, but in my experience, the best tenants are those who care about each other. If you own an apartment building and can manage to build community for residents there, you benefit them by bolstering their sense of fellowship in the neighborhood, and…
Asking rents are falling in many national multifamily markets, bringing an end to 18 months of record-breaking rent growth, according to a special bulletin from Yardi Matrix. The rent growth coming to an end and the decline in rent growth has been steadily expanding in multiple multifamily markets. “Of the 136 multifamily markets that Yardi Matrix…