Trade Show a Huge Success!
WOW! What an incredible event! Our “Million Dollar” Trade Show and Landlording Conference last month was a massive success! We had highly knowledgeable speakers who delivered fantastic content, providing our members with a wealth of ideas that will empower them to make and keep more money than ever before. What was your biggest takeaway? Multiple members even won valuable prizes given away at each seminar! If you missed out this time, don’t worry – read on to find out when and where the next AOA Million Dollar Trade Show will be held.
There was no place in the world like the L.A. Convention Center on Wednesday, April 19th! Our members took full advantage of this incredible source of information, and the best part? It was all completely free! It’s just one of the many services we provide for our members in addition to the lowest membership dues and credit check fees as well as the best service in town!
We want to extend a big thank you to our dynamic speakers who made the “Million Dollar” Trade Show and Landlording Conference a huge success! Their valuable insights and knowledge were truly priceless. We owe a debt of gratitude to Attorney William Bronchick; Jeffrey Taylor, also known as “Mr. Landlord”; Eviction Attorney Dennis Block, Esq.; Real Estate Expert Lou Brown; Asset Protection Specialist Larry Oxenham; Landlord Attorney Michael Brennan, Esq.; Tax Specialist Tony Watson; and Helen Fower and David Tashroudian, of One Structural. They provided the most powerful and contemporary information on wealth-building and apartment landlording that you’ll ever be able to find.
We are also grateful to our wide range of exhibitors who showed their commitment to our members by offering the best professional services specifically designed for rental property owners. Thank you for providing our members with a diverse and informative experience. Make sure to check out the highlights of the show and the photos included in this issue.
And … a very special thanks goes to you, our members, for being the essence of our trade show success! Your support towards our Union Rescue Mission Canned Goods Drive was greatly appreciated. Your unwavering dedication to learning and pursuit of excellence is a driving force in the betterment of our industry. Thank you for making our trade show a success. We look forward to seeing you at our Million Dollar Trade Show on Thursday, October 19, 2023, at the Long Beach Convention Center in West Hall C!
It pays and saves you big just to be an AOA member. BUT…it pays and saves even more for those owners who turn up every year to discover new ideas at the Big Show!
“Justice for Renters Act” – Injustice for All!
Here they go again. There are organizers out there collecting signatures for a California initiative that calls for even stricter residential rent control laws. This initiative is called the “Justice for Renters Act” and 546,651 signatures must be gathered in six months and then verified to go to the statewide ballot in 2024.
According to state records, the top financial backer for this measure is the Los-Angeles based AIDS Healthcare Foundation (AHF) – a non-profit and housing advocate. Under the leadership and founder Michael Weinstein, two previous measures were authored by AHF seeking to expand rent control in California – (In 2018, Prop. 10 and in 2020, Prop. 21).
Proposition 10 would have also repealed the Costa-Hawkins Act and Proposition 21 would have allowed cities to pass rent control measures on almost all rental housing as long as it was more than 15 years old – exempting those who owned no more than two small properties such as single-family homes or condos.
According to an analysis by the Legislative Analyst’s office, if Prop. 21 would have passed, cities and states could have lost revenue in the “high tens of millions per year” because rental property owners would have paid lower property taxes.
Both of these measures failed at the polls. Justice for rental property owners! Let’s hope this one follows suit.
Exactly What Would the “Justice for Renters Act” Do?
If passed, this measure would end the California’s Costa-Hawkin’s Act, which, currently, does not allow rent control for housing built after February of 1995 for condos or single-family homes.
If passed, cities and counties would be allowed to enact new or expand upon current rent control ordinances and the measure would allow rent control on ALL residential rental properties.
How Would It Affect:
|Tenants||Rental Property Owners||Cities, Counties, State|
|Lower rents – short term||More restrictions = more hardship||Lessens tax revenue|
|Decreases affordability – long term||Additional registration fees/expenses||Discourages new construction|
|Increases competition for units||Theft of rental income||Wards off California investors|
|Decreases upkeep, repairs||Decline in investments|
|Declines in property value||Reductions in current quality of stock|
|Promotes sales & out of state investing||Causes more housing shortage|
|Steals property rights|
Studies have verified that rent control, as it may benefit some renters in the short term, only hurts everyone in the long term. It’s simple Economics 101 – a course that all politicians should be required to pass before they are elected to office. It wouldn’t hurt Mr. Weinstein to take a few notes either.
Assar Lindbeck, a Swedish economist who chaired the Nobel prize committee for many years, once reportedly declared that rent control is “the best way to destroy a city, other than bombing.”
What Can You Do?
As they are out there collecting signatures to get this initiative on the ballot for next year, let’s build up our war chest to fight them if they succeed. Please donate to AOA’s Political Action Committee online at https://aoausa.com/pac/ or send your check to AOA PAC at 6445 Sepulveda Blvd., Suite 300, Van Nuys, CA, 91411 TODAY!
P.S. Folks, this is going to be a big one, and it’s going to take millions of dollars from our total industry to defeat it. The tenants are better organized now more than ever! Please donate $100 for each unit that you own or at least $1,000. Thank you! Jeff Faller