Question 1: We had a tenant break his 12-month lease and move out after only one month. We sent a letter explaining he must pay rent until we find a suitable replacement and received a letter back from his attorney stating that since the gentleman’s income comes solely from Social Security he is considered “judgment…
DetailsQuestion One: I recently purchased a rent controlled apartment building in the City of Los Angeles. Some of the units have a rental agreement for the apartment and a separate agreement for their parking. Is there any advantage to this type of arrangement? Answer One: This is very advantageous for the landlord. Since the parking…
DetailsHello everybody. This month I will focus on recent developments pertaining to laundry leases and easements. Although the two topics are dissimilar, often they are both important to AOA members.
That is, unless you and I raise our voices before they raise our taxes. As you may have heard, you are a part of that “1%” the politicians talk about. You see, they also look at your wealth even though they only talk about people with incomes of over $250,000 a year. As long-time real…
DetailsIf you discover you have negative cash flow, you must take action now to turn it around. Correcting negative cash flow involves doing things NOW to stop the bleeding. It might conflict with a conservative long-term investment game plan, but remember,
Water intrusion happens, whether it’s from a heavy rain, flood or plumbing malfunction, when it occurs it’s important to know how to battle mold growth. In this interview, Mark shares his tips on how to keep water out of your building and prevent a mold problem from starting and turning hazardous.
What do you do if you learn that your tenant has moved in a roommate without your permission? This topic comes up often in our monthly Legal Panel and is one in which we devoted an entire meeting to. Some of you reported that you are presently experiencing what you believe to be unwarranted occupancies…
DetailsTired of pouring endless money into advertising? Do you wonder which ads are “REALLY” working for the properties you manage? Would you like a bullet-proof system for capturing the results from your advertising? Below are three concepts that will enable you to track your advertising like a hawk! Really, it’s that simple!
Doing repairs on rental properties and interacting with tenants adds a whole new component to maintenance. Vendors who recognize the intricate skill and experience required to get the job done are an asset to rental property owners. If you master these five areas and consistently perform them well you will make yourself more marketable.
January 1st, 2013 means a new beginning, resolutions, or maybe just too many bowl games or not enough…you decide. For us, the New Year represents the fundamental transformation of the commercial water heater industry as we know it.