What Are the Landlord’s Responsibilities? Before we talk specifics, let’s cover when and how a security deposit refund should be handled. The landlord has 21 (calendar) days from the day the keys are handed back by the tenant to mail the Security Deposit Refund letter (AOA Form 133). If the expenses total more than $125,…
The below article was written by David Mashian of MoneyMac Loans. REAL ESTATE LOANS Interest Rates – Historically low interest rates have driven the recent residential purchase and refinance boom. Lenders are independently raising interest rates to slow demand. The Fed will keep interest rates low until 2023 to help offset a housing and economic crash.…
Question 1: What is the latest on the COVID-19 19 eviction restrictions? And what about the recent CDC order halting evictions? Answer 1: As for the recent CDC (Centers for Disease Control and Prevention) order, nothing changed other than the extension of its effective date to January 31, 2021 from the end of December 2020.…
Earlier in 2020, a building owner in Culver City (who wasn’t a client of ours yet, but would become one shortly) was approached by one of his tenants with a mold complaint. The tenant had already ordered a mold test on the property at his own expense – he worked for a property management company,…
Question One: My company recently purchased a rent-controlled building and the leases do not prohibit smoking. We’ve distributed a memo regarding a new No Smoking Policy, in response to one tenant complaining about smoke entering his unit and causing a health hazard. Can the offending tenant, who keeps smoking, be evicted for committing a nuisance…
To the Los Angeles Journal: What’s most disturbing is that the City Council and others passed a “moratorium” which restricts and prevents landlords from imposing the annual, rental-mandated, municipal rent increase. Under the Rent Stabilization Ordinance, the tenants’ rent may be lawfully increased each year based upon the Consumer Price Index. There’s a ceiling of…
Betty Friant, Senior Vice President overseeing the Washington, DC office of Kay Properties recently interviewed CEO and Founder, Dwight Kay about a very important topic for anyone thinking of doing a 1031 Exchange in the last quarter of the year. Betty Friant: So, Dwight. Thanks for taking the time to go over a critical…
Hello everybody. Unfortunately, this month I have terrible news to report about laundry room leases. On September 25, 2020, the California Court of Appeal ruled in favor of Dadson Washer Service, Inc. (“Dadson”) and against the apartment owner in a case which upheld the validity of Dadson’s automatic renewal clause and which extended Dadson’s initial…
So, you have a mold problem that has been corrected and you want to know if it is okay to move occupants back into the unit? Get a clearance inspection. But not from the company who did the work! For the purpose of this article, post-abatement, post-remediation, and mold clearance are synonymous terms. Essentially, it…
The question that will come to mind as you read this is “Who does that?” The unfortunate answer is “too many people.” We are in an industry full of talented people – mostly. If these mistakes are occurring with your assets, it is probably time to look for new management – first, to stop the…