California renters, who are still struggling to pay the rent even as the pandemic wanes, will be shielded from eviction through September 30th, under a last-minute deal announced by Gov. Gavin Newsom and legislative leaders. In statements, Newsom and legislative leaders who negotiated the new protections said they would keep families from falling through the…
DetailsIf you want to make sure a potential rental property has serious earning power, you’ve probably come across GRM, or the gross rent multiplier formula before. The GRM is used in real estate as a quick way to evaluate a property’s money-making potential. But what exactly is the gross rent multiplier, and how do you…
DetailsChallenge: IRS Penalties I submitted my tax documents to my accountant, he prepared them, and it was filed with the IRS and State. Whew…it’s finally over. What a relief! I don’t need to worry about taxes for another year. Or do I? Do you know that if you’re audited by the IRS and you didn’t…
DetailsNewton’s third law of physics is that for every action in nature, there is an equal and opposite reaction. That rule also seems to apply in the business world when it comes to regulation of free enterprise. That is to say that regulation always has unintended consequences—some predictable, others less obvious. And that rule is…
DetailsPandemic pricing is officially over, as rent growth has now been outpacing prior-year averages for several months, according to the latest report from Apartment List. “The national median rent has now officially surpassed the level where we expect it would have been if the pandemic had never happened,” wrote housing economists Chris Salviati, Igor Popov, and…
DetailsThe City of Los Angeles is poised to enact a so-called “anti-tenant harassment” ordinance which would prospectively criminalize aspects of residential income property ownership in that: Any attempt to contact a resident regarding delinquent rent could be construed as “harassment” under the ordinance – (unconstitutionally ambiguous). A property owner could be subject to criminal prosecution…
DetailsContinued … The economy staggered once, twice, sighed and collapsed. Historians interested in this sort of thing have estimated that the war-induced contraction was equivalent to a 40% drop in colonial GDP. As a point of reference, the cumulative GDP loss during the first four years of the Great Depression (1929-1933) was 26.33%. In other…
DetailsPresident Joe Biden unveiled his first federal budget proposal as president for fiscal year 2022, which begins on October 1. His first budget is a whopper at just over $6 trillion. This is in addition to the $4 trillion he wants to spend on his pork-laden infrastructure rebuilding plan. He also announced his plan to…
DetailsEviction Moratorium Extended Assembly Bill 832 has now extended the State of California’s moratorium through September 30, 2021. Based on how the law is drafted, I am confident that this will be the last extension. As such, all tenants should be required to pay rent for the month of October 2021. If rent is not…
DetailsIn this article, the Tenant Protection Act of 2019 may be referred to as California Rent Control or the Act. The Act passed into law in 2019, which implemented statewide just-cause termination requirements and rent increase caps for many rental properties. Q: I own two condominiums in San Diego County and a friend recently mentioned…
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