Under AB 1482, all cities in California are subject to statewide rent control. If your property is subject to this statute, good cause is required to terminate a month-to-month tenancy. With respect to rent limitations, AB 1482 prohibits landlords from increasing rent by more than 5% plus “the percentage change in the cost of living”…
DetailsFortunately, there are still parts of the Golden State that qualify as “affordable” according to a new study of the “Most Affordable Places to Live in California” by SmartAsset. Sounds like an oxymoron, but it’s not. The company crunched the numbers on taxes, homeowners’ insurance, and home costs relative to the local median income to come up with…
DetailsBelow are questions asked by rental property owners regarding California property management and resident manager laws followed by answers provided by Attorney Franco Simone. Q: I am a landlord of a small apartment building. I am reviewing the new lease that I want to use this year. I want to make sure I can…
DetailsBelow are questions asked by rental property owners regarding California rent control laws followed by answers provided by Attorney Richard Beckman. Question 1: Is there a bill in the Legislature that is supposed to end the Ellis Act? Answer 1: AB 854, which was moving forward in the legislature and appeared to be heading…
DetailsKeeping a leasing call positive is the foundation for the first impression. As the leasing inquiry begins with a question, its 50/50 – will the answer be yes or no? We don’t have any three-bedroom apartments. We don’t supply washing machines and dryers in our apartment homes. We don’t have any one-bedrooms available. We don’t…
DetailsLetters to the Editor … Supervisors Extend L.A. County Moratorium! Below are some letters sent to the L.A. County Supervisors opposing the extension of the moratorium. To the Board of Supervisors: From: Nicholas Gessler, Ph.D – As a Ph.D. in Anthropology, a Social Science, I can’t believe you are taking this set of…
DetailsThe U.S. Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) are warning landlords and other housing providers on military tenant protections when they are providing rental housing for military families, according to a release. The Justice Department and CFPB have sent a letter to landlords and housing providers reminding property owners of…
DetailsInternal Revenue Code section 1031, which establishes the transaction structure referred to as a 1031 Exchange, is one of the most advantageous sections of the U.S. tax code. A 1031 exchange allows for the deferral of taxes when investment property is sold in conjunction with the purchase of another replacement property. The tax savings alone…
DetailsProtecting your rental property from crime is essential on many levels. Think about all the benefits of a safe rental! By doing so, you can: Attract and retain good tenants Avoid the destruction of your property Increase the value of your property Contribute to a healthier community Make property management more enjoyable
DetailsApartment market conditions generally improved according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for January 2022. The Market Tightness (69), Sales Volume (59), and Equity Financing (67) indexes all came in above the breakeven level (50) for the fourth quarter in a row, though many respondents indicated conditions remained unchanged across the…
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