Q: I am advertising my single-family residence for rent. I received an inquiry from an interested woman asking if I accept section 8 tenants. Can I refuse to rent to tenants that have section 8 vouchers? A: No, effective January 1, 2020, landlords with properties in the state of California cannot refuse to rent to…
We are all wondering if brokers and investors can find deals during this pandemic. The answer is a resounding yes!!! Investors, appraisers, and financial institutions are resetting their visions and policies to adjust to our new reality. Consensus is that this current environment is not going away anytime soon so we need to adjust. In…
An AOA member called our office to gain some guidance – she is a “mom-and-pop” landlord. She asked me if she would be able to sell her eight-unit Hollywood building while currently being sued by a past tenant – a past tenant who lived rent-free on her property for over three years! A property…
Fire Extinguishers are the first line of defense for your property against fire. They are most effectively utilized when they are readily available in sufficient numbers and have adequate extinguishing capacity. Most building fires occur around laundry rooms, elevator/electrical rooms, parking areas, and kitchens. If a fire occurs, remember to evacuate the building, sound the fire…
Tenants are fearing homelessness, while many cash-strapped landlords are in dire straits. Private-sector interest-free loans could assuage the fear of eviction while keeping landlords solvent. When COVID-19 reared its ugly head, tenants’ advocates sounded the alarms, and lawmakers heard the call. Fearing massive displacement of renters who have lost income due to the pandemic, and…
The Howard Jarvis Taxpayers Association filed a writ of mandate directly to the California Court of Appeal for the Third Appellate District seeking reversal of a trial court decision handed down on Tuesday that failed to correct false and misleading ballot material submitted by California Attorney General Xavier Becerra to Proposition 15, the largest property…
The current moment is a strange and dismaying one for people in all kinds of businesses – perhaps more accurately, it’s a strange time to be alive. In the past five months, the rapid spread of COVID-19 has accounted for hundreds of thousands of deaths and changed the way we go about our daily lives.…
In a recent U.S. Tax Court matter, it was found that a taxpayer could not deduct a loss from their sale of real property due to the fact that they failed to establish the cost basis of the property sold. Losses are not deductible relating to non-business dispositions; therefore, taxpayers are not allowed to deduct…
Rental ownership is face-to-face capitalism. It’s hands-on. When you own shares in a large corporation, you don’t get a say in how that company is run. When you own rental property, you make decisions that affect your income stream and the value of your asset. Good landlords increase their property’s value. The best landlords learn how…
Question One: I own a condominium in Long Beach, California. It is currently leased on a month-to-month rental agreement. My daughter is getting married and asked if she could move in after the wedding. Based on her request, I served a 60-day notice to terminate one of my tenants. My tenant informed me that they…