I Admit, I Made a Mistake! – Always Run the Report! I admit that I used to make a serious mistake that would put a lot of what I had at risk. I used to not do credit checks. Now, after doing them for several years, I will NEVER accept a tenant without first seeing their…
DetailsRecently, while scrolling on FaceBook, I came across a post where someone was looking for an apartment. There were some helpful responses and suggestions were offered by many. But … one person answered, “Check your messages – I sent you a sure-fire way to get someone to rent to you even if you have bad…
Details“Sent to the Hollywood Hoodlums in Council” We cannot continue to provide housing and not have income to cover mortgage, insurance, repairs and taxes. No other businesses were required to do that and look how many restaurants and small stores like nail and hair salons closed. We have not received rent in over a year…
DetailsApproximately 15 years ago, San Francisco adopted an earthquake retrofit program. Through litigation, it was determined that substantially all of the benefit accrued only to tenants. Tenants were assessed 100% of the costs, amortized over 10 years with a cap of approximately $60 per month. Los Angeles City adopted a similar program wherein the tenants…
DetailsI try, in my articles, to offer a legal perspective that you, as a property owner or management company, may not possess. And while you almost certainly don’t need me to tell you of the many challenges that managing a property presents, I find property owners and property managers often underestimate the legal and perception…
DetailsWhen Proposition 19 eked out a narrow victory in the November election, most California voters knew the measure had something to do with protecting wildfire victims, seniors and the disabled from higher property taxes. What most California voters didn’t know is that Prop. 19 took away an important taxpayer protection that had been part of…
DetailsCalifornia 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…
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