Hello everybody. As you may suspect, litigation continues to be filed in record numbers by resident managers against apartment owners and management companies for violations of wage and residency laws. The amounts managers demand are staggering. For example, in a matter I recently handled for a client, the former resident manager was demanding payment from…
DetailsA few months ago I had the opportunity to address 100 real estate investors at a dinner meeting. It was a great evening of give and take. My goal was to help them focus on
Hopefully, if you own in the City of Los Angeles and are under the L.A. Rent Stabilization Ordinance, you have already paid your building’s registration fees of $24.51 per unit which was due by February 28, 2013. Serving a timely notice, you may collect one half of those fees from your tenants. Collect $12.25 Fees…
DetailsObviously, the most significant economic news in recent weeks was the surprising January 30 report showing that fourth quarter GDP declined by 0.1% (annual rate). While that report may be revised slightly upward later this month, it was still a big surprise. As a result of that unexpected report, most economists have been revising their…
DetailsBy Cliff Hockley A few months ago I had the opportunity to address 100 real estate investors at a dinner meeting. It was a great evening of give and take. My goal was to help them focus on improving the profitability of their real estate investments. We discussed the following:
DetailsA lot of people are jumping into real estate again. They’ve heard the news that the market has reached the bottom and that this could be the best market of our generation. They’ve heard the good news that there is still a lot of distressed housing out there and that real estate can be…
DetailsThe sky is falling, the sky is falling………..(Chicken Little, the main character in a children’s fable) There are several Western versions of the Chicken Little folktale, of which the best known concerns a chick that believes the sky is falling when an acorn falls on his head. The chick decides to tell the King and…
DetailsYou have heard it all before. Some of us have even said it ourselves, “Being a landlord can be a pain.” Most people in this country will agree that it makes a lot of sense to buy property and invest in real estate. We also know all the benefits of investing in real estate. You…
DetailsThere is a belief among some apartment investors that they can get away without having a professional property management person/company on site in order to keep more cash in their pockets. The stark reality is that next to collecting the rents, property management is at the top of the list of essentials in the apartment…
DetailsHave you noticed that over the last couple of years that the eviction process has taken much longer? Years ago, the process for an uncontested eviction took about 30 days. Today, that process takes about 45 days. Unfortunately, the process is about to take much longer