Question: Did the new statewide rent control law I’ve been hearing about take effect? Answer: AB 1482 – the Tenant Protection Act of 2019 – has been passed by the California legislature and is in front of Governor Newsom for his anticipated signature. Absent his veto, which is by all accounts extremely unlikely, AB 1482…
Filling the Vacancy is Not the Ultimate Goal Don’t fall for the myth that having your property rented is the ultimate goal. Yes, it is important to fill a vacancy and fill it fast. I actually consider that a number one priority. However, let me say for the record that I do NOT want you to fill…
Los Angeles City Councilmembers Mike Bonin, Marqueece Harris-Dawson, Paul Koretz and David Ryu are all backing a plan for an “empty-home penalty” or “vacancy tax”. This is another disastrous idea that is spreading throughout the whole state. They seem to think that this is “an important tool for addressing one of the root causes…
Continued from Part 85 . . . With all of this, why buy bonds? Proper diversification between asset classes enhances portfolio growth because, as someone once said, “When one asset loses, another gains”. That only happens when there is an imperfect correlation between assets. Bonds are the classic asset used to offset potential losses in…
California’s attempt at stabilizing the rental market with the passage of the Tenant Protection Act of 2019 will soon prove to be a failure of epic proportions. Proponents of this bill argue that rent control is needed to maintain some degree of affordability in high-price areas, but they couldn’t be more wrong. What California really…
Below is an open letter sent to Richard Holden, the Regional Operations Director of the U.S. Bureau of Labor Statistics. Dear Mr. Holden: Several years ago, I posted a note to your office. I complained that the CPI for Los Angeles/Long Beach addressed and tracked only “pure consumer products” and failed to address, evaluate or…
Having a written criteria list for your rental applicants is pertinent in your rental business and serves several purposes. By attaching a copy of your rental criteria to each blank application form, you are informing your applicant of a list of conditions that must be met for them to be considered as a future tenant…
The Year was 1999 and the Los Angeles Lakers just moved from the Great Western Forum in Inglewood to Staples Center in Downtown L.A. They had a shiny new home for their brand new superstars Shaq and Kobe. The Lakers hadn’t won a playoff game past the second round in eight years and they were…
Question One: I have a tenant that is on a one year lease. Without notice, he vacated halfway through the lease term. At the same time, I had another tenant who properly vacated at the end of her lease. I understand that the man who left will be responsible for the remaining portion of the…
California’s 2019 legislative session recently came to a merciful end. Despite the fact that the Legislature passed dozens of bills assaulting basic economic rights, it could have been far worse for taxpayers. Indeed, in remarkably good news, the most dangerous threat to Proposition 13 was defeated.