Although it is very common for people to leave their assets to their heirs outright, with no strings attached, you can set up an alternative to your heirs receiving 100% of inheritance outright. By including testamentary trust provisions embedded within your living trust, upon your death your living trust can regulate the transfer of assets…
DetailsThe Housing Authority of the City of Los Angeles, (HACLA), recently reviewed their rental rates on a city-owned, senior apartment building in Eagle Rock and proposed a 6 PERCENT rent increase on those tenants. They chose to ignore their own allowable 3% increase that is enforced on all owners under the L.A. Rent Control Law…
DetailsMost civil cases that are filed in the state or federal courthouse eventually settle- some cases settle early in the action, some cases settle after 6 months, and other cases settle on the eve of trial. A few cases may settle during the course of a multi day trial! Some cases are disposed of by…
DetailsAlameda Rent Program – Notices and Materials to be Provided to Current and Prospective Tenants The Alameda Rent Program Information Brochure relating to Ordinance 3148 is now available for landlords to distribute to current and prospective tenants. By October 15th, 2016, Landlords are required to provide the web link to the INFORMATION BROCHURE or provide…
DetailsWhether you operate a shoe shine stand or a multifamily property, your business is built on renewals, or re-occurring income from existing customers. In multifamily, a high percentage renewal rate makes for a much more predictable income stream. The value of a lease renewal can be quantified. Granted, while different for each property, the amount…
DetailsCurrent market conditions have made investing in long-term rental property more appealing than ever. If you buy a few rental properties and self-manage them, you’ll have several duties (in addition to cashing checks). One of the biggest is trying to keep your maintenance costs as low as possible.
Any landlord who has done an eviction knows that tenants always claim the landlord breached the “warranty of habitability” as a defense to an eviction. In order to be successful, a tenant must prove four elements; 1) A substantial defect existed in the rental unit; 2) the landlord had either actual or constructive knowledge of…
DetailsDefinition of a bubble: “When no other intelligent investor will pay you what your asset is currently worth.” I recently talked to a packed crowd at the latest AOA. meeting. It was standing room only; wall to wall. Hmmmm, I wonder what’s going on? So I made the statement, “You guys are either really excited…
DetailsQuestion 1: We discovered that our tenant has sublet a room in the apartment. This is a breach of her contract. We are trying to figure out how to deal with this situation so we will not be legally bound to a contract with this subtenant, if the current tenant moves out. We were thinking…
DetailsDon’t get freaked out about the term “rental property management”, it sounds threatening but all it really means is: A Game Plan to Keep Your Rentals Headache Free, Cash Flow Animal Does that sound a little better than rental property management? You better believe it does and guess what. Managing rental apartments is simply a…
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