I often say that someday landlords will have to accept giraffes in their no pet buildings. While it may sound ludicrous, more and more tenants are showing up at properties, leasing units and showing up after the fact with a plethora of different animals, all of which are considered service animals or emotional support animals.
Your investment property is yours, not the tenants. To keep your tenants in line and show them that you are a diligent owner, you must make quarterly inspections.
It goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own. Notice that your needs come after your tenants. Always put your tenants’ needs before your own and they will buy real estate for you in…
Question 1: Has San Francisco changed its ‘Ellis Act’ relocation payment law again?
Question One: I have a tenant in Los Angeles, under rent control, who is a hoarder. She has stacks of boxes, newspapers, clothing and other items throughout her unit. Some of the rooms are so filled with items, that the room literally cannot be accessed. I have previously written to her demanding that this must…
Hello everybody. I am hopeful that AOA members recall from my discussion in the March 2015 issue of this magazine that effective July 1, 2015, California’s new sick leave law comes into effect. In general, it provides that every employee in the State of California who works more than 30 days per year is entitled…
As part of an ongoing effort to help those who struggle to keep a roof over their heads, the Howard Jarvis Taxpayers Association has filed an initiative that would increase the homeowners’ exemptionand the renters’ tax credit. This is the first step in qualifying the initiative, the California Homeowners and Renters Tax Relief Act of…
Proposition 13 was created to strictly limit what’s called your ad valorem property tax – the tax linked to the value of your home when you bought it – the amount that appears “above the line” on your property tax bill.
IRC 1031 allows owners of investment property to defer capital gains taxes, on the sale of property, so long as another investment property is purchased per the rules of the IRC 1031. Tax deferred exchanges have long been utilized by apartment complex owners to defer taxes and build their investment portfolios. Many owners of multifamily…
In mid-May, 2015, a senior Treasury Department Estate and Gift Tax attorney announced that the government will soon issue regulations that will limit, or even eliminate, the ability to use “discounts” to save estate taxes for your family. She projected that the IRS would adopt (or propose) these new regulations before the end of September,…
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