In my ten years as a landlord, I never expected the dreaded pink letter indicating I was being sued by a tenant. Yet, there it was – right in my mailbox – a letter from my former tenants indicating they were suing us for withholding their security deposit. There are strict tenant rights laws around…Details
Typically, when somebody describes a business as being “in the toilet,” they’re delivering bad news. But property management is an industry built on the gritty work of contractors and maintenance technicians, including plumbing repairs. So if you’re a property manager and your company isn’t “in the toilet,” you’re doing something wrong.
Q: I own a rental property in San Diego where there is currently no rent control and my tenant’s rent is $1,200. I want to raise the rent to $1,500. Can I raise my tenant’s rent by 25%?
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…Details
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…Details
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…Details
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…Details
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…Details
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…Details
If You Don’t Have a Written Qualification Criteria List for Applicants – DO IT NOW! By – Patricia A. Harris
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…Details