No one disputes that California has a big budget surplus. According to the Office of the Legislative Analyst, California has budget reserves in excess of $18 billion. Our budget reserves exceed the entire state budget of eighteen other states. One would think that the funds available for discretionary spending would chill any appetite for higher…
DetailsFed Chair Jerome Powell recently used the “patient” word again. He also added new words that the Fed can “wait and watch” before raising rates again. And he added another new word, that whenever interest rate increases resume, they will be “gradual.” The stock markets loved it! There are growing calls for President Trump and…
DetailsAccepting Rent If you serve a Notice to Quit on your tenant, you cannot accept rent past the expiration of that notice. Acceptance of the rent would invalidate your termination notice. If the tenant tenders you the full rental amount, you cannot accept it and then tender back that portion which extends beyond the expiration…
DetailsOn February 21, 2019, Governor Gavin Newsom issued a Proclamation of a State of Emergency in California. This proclamation affects quite a few counties, including Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura. Upon the issuance of a Proclamation of a State of Emergency, the provisions of CA Penal Code section…
DetailsWhat a difference six months make! During the summer, California zoomed to a $600,000 median price. I had been surprised that prices moved that quickly and had passed the previous highs set in 2007. Over the past six months, prices have softened along with sales volume. What was once at $600,000 in mid-summer turned to…
DetailsHello everybody. In case you have not heard, get ready for tenants having more time to pay their rent and it taking more time for landlords to evict them when they don’t! Starting September 1, 2019, the counting of days will be lengthened for the 3 days which must elapse after the service of a…
DetailsContinued from Part 78 . . . Lending – Notwithstanding the potential for inflation-related losses, there are many reasons to buy bonds. An obvious example might be when a major expense is expected in a couple of years (grand-daughter’s wedding, etc). The investor has the money now, but doesn’t want to put it into stocks…
DetailsWhen it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they…
DetailsDan and Maria Levin live in the upstairs unit of their two-story home in San Francisco, California. They would like to use the lower unit for friends and family, but a city ordinance required them to pay their tenant $118,000 to withdraw the unit from the rental market. This amount represents the difference between the…
DetailsQ: I rent a residential unit to a tenant on an oral agreement. The rent is due on the 1st of every month. The tenant keeps paying late and I want to charge him late fees. Can I do this? A: No, you cannot charge a late fee without a proper late fee provision in…
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