“Is that your final answer?” You may recognize the question made famous by the popular TV game show Who Wants to Be a Millionaire? Choosing the right answer in this game gives you a shot at winning big money, while the wrong answer leaves you with nothing. Investors conducting a 1031 Exchange face a similar…
AB 3088 permits owners to proceed to Small Claims Court for the collection of back rent or other rental deficit damages. A Plaintiff may not appeal from a Small Claims Court award, ruling decision or judgment. It seems so simple and safe, right? Be careful. The Trial The Tenant Protection or eviction groups are going…
The recent passage of Prop 19 eliminates the parent-child and grandparent-grandchild exclusion from reassessment for properties other than a “family home.” As of February 16, 2021, if you transfer your property to your children (or, grandchildren, if the parents are deceased), via any means (gifts, sale, hybrid, estate plan after your passing, etc.) that property…
Maintenance issues are all urgent now. Landlords’ cannot wait for the COVID vaccine to replace a burnt-out light bulb in the laundry room. A broken toilet can no longer be fixed when someone gets back from work at 5 p.m. It needs to be fixed NOW. Everyone is home. We rarely need to make an…
Dear AOA: We are in receipt of the updated AOA Rental Agreement and/or Lease. We have used this form for years and sincerely appreciate the protection of having an attorney-reviewed document supporting our agreement with tenants. We have also attended your excellent seminars and have updated information suggested as improvements or protections by your speakers. …
Recently, and strictly out of curiosity, I went online to a web site called www.supportpets.com to see how difficult or easy it was to obtain a document to qualify my cat, Oliver, as an emotional support animal (ESA). Once I entered in my personal information, including my email address, I was presented with a series…
In one of the largest spending measures ever enacted, the CARES Act, the Consolidated Appropriations Act of 2021 (H.R. 133) was signed into law on December 27, 2020. Although it is unprecedented in size, there is a consensus among economists that the bill is not enough to stop the bleeding. The law also extends the…
Q: Six months ago, I rented my two-bedroom apartment to a single woman with a one-year lease. She wants a roommate. Do I have to allow my tenant to have a roommate? A: It depends. Most leases include a clause that prohibits or authorizes tenants to have a roommate or add additional occupants. If you…
I probably am revealing no great secret by declaring that the legal structure for paying on-site managers is in many ways baffling, befuddling and confusing (choose your adjective). Numerous payment rules exist that we just don’t see in typical employment situations – rent caps, rent credit caps, etc. Consistent with this theme, I want to…
“You want to be greedy when others are fearful.” Warren Buffett said that in an interview with Charlie Rose. Warren knows a thing or two about investing. He bought low-risk cash flow when it was on sale. Tech heroes have created enterprises that sell for bigger multiples. People who buy tech stocks are paying now…