On April 19, 2017 the L.A. City Council voted 12-0 to make changes to portions of the Los Angeles Municipal Code governing the Ellis Act. Of course, as anyone who knows how the city operates would guess, these changes further hinder landlords’ property rights.
Multifamily rents rose slightly in April, but the rate of growth slid once again and now stands below the long term average growth rate, according to the latest report from YardiMatrix. The average U.S. monthly rents rose $3 to $1,314, according to Yardi Matrix’s monthly survey of 121 markets. On a year-over-year basis, rents were…
Hello everybody. At the time when interest rates on mortgages are at a near historic low, AOA members might find it surprising that I am devoting this article to a discussion of high interest rates, that is, usurious interest which exceeds the maximum rates California law allows. Even with overall low rates, occasionally lenders impose…
Question 1: Is there a new bedbug disclosure requirement that just started? Answer 1: Yes. New Civil Code section 1954.603 provides that on and after July 1, 2017, prior to creating a new tenancy for a dwelling unit, a landlord shall provide a written notice to the prospective tenant with specific information on bedbugs. This…
Mort Studebaker was the owner of single family home rentals. His rental agreement required the tenants to take care of the landscaping. A simple concept you would think, but not really. First of all, the tenants didn’t really read the couple lines of fine print in his agreement and they knew nothing about landscaping or…
Many commercial businesses in Los Angeles are falling prey to the price gouging which comes from a closed monopolized method of providing trash service. Much like the DWP, the rates and increases are set or granted by your elected officials. With few exceptions, you must pay what they charge.
Everyone in the property management business knows certain times of the month are exceptionally busy. Even managers and leasing people who are experts at scheduling will occasionally get “double booked” or swamped with “drop in” visitors. Being able to handle more than one thing at a time and to do so graciously is just part…
The “battle zone environment” of the downtown Los Angeles Superior Court is something to witness in person if you have never been there to experience it. It is not for the genteel or the faint of heart. The downtown Los Angeles Superior Court, located in the Stanley Mosk Courthouse, at 111 North Hill Street, is…
Recology’s proposed rate hike for refuse collection was a major topic of discussion at our April members’ meeting. Paul Giusti, Recology’s Community and Government Affairs Manager, explained the proposed refuse collection rate increase; 16.5 in year one, 5% in year two and 0.6% in year three – (a total increase of 22.1% over the next…
Question One: My property insurance policy states that no Pit Bulls or German Shepherds may be maintained on the premises. The presence of those breeds would void or cancel my policy. Can I use this as a valid excuse not to accept those breeds, including service and emotional support animals?