Question 1: I rented a two bedroom Berkeley unit to three students and collected $3,000.00 for first month’s rent. The rent receipt, which we both signed, states the basics of the lease: monthly rent, occupants, term of lease and start date. It also
Let’s say you are a real estate owner/investor and have hired a property management company to manage your apartment buildings. You sign a management contract and the company opens a regular business checking account with their bank. They begin managing your property and collecting rents and paying your bills. However, did you know
Question One: I paid a real estate broker to fill my vacancy. The tenant gave a deposit of $1,090.00 but the broker never got a signed lease. I paid the real estate broker his commission and then the tenant changed his mind and asked for
Just in the last week, the cities of Laguna Niguel, Mission Viejo, San Juan Capistrano and Irvine have passed resolutions declaring their support for Proposition 13. Proposition 13 has recently come under attack by a group of far-left activists based in
Hello everybody. In case you have not heard, on July 1, 2014, the minimum wage inCaliforniaincreased from $8.00 to $9.00 per hour. Other important changes were also implemented, such as raising the cap on the amount of rent a landlord can
It is not often a lawyer gets to argue a legal question that has never been considered before, but Institute for Justice’s Litigation Director, Dana Berliner, did just that in front of the Minnesota Supreme Court [last year]. After more than six years of
Whether you intentionally purchased an investment property or you became an “accidental landlord”, be prepared to wear many different hats. Being a landlord isn’t for everyone, but the vast majority of home owners are
As a landlord, it’s easy to overlook minor issues. Performing regular maintenance on your property can help you catch a small problem before it turns into a large expense. Here are some property maintenance tips that can help save you money in the long run.
Some owners are passive. They inherited those 8 mortgage-free units over ten years ago, when Aunt Mitochondria passed on. The buildings are located in an established area but hadn’t been properly looked after during her long illness, and in the decade since her
Q: I have two tenants and they are in the middle of a one year lease. One tenant has a family emergency and has to move out temporarily. The other tenant would like to stay and find a new
