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You probably agree almost nothing is worse than having an empty rental property.  Two kinds of costs can hit hard: real costs (like utilities, taxes, maintenance, and cleaning) and opportunity costs (like lost rental income and a higher risk of crime). In this business, we call it the vacancy rate.  But that’s kind of an…

I have elected today to reprint an excellent article I recently read. The article is written by Peter Ferrara, a long-time serious conservative/libertarian. This is perhaps the best critique of President Obama that I have ever read. If you are an Obama fan, you probably don’t want to read this; on the other hand, maybe…

Q: What can I deduct from a tenant’s security deposit? A: The refund of security deposits is the most common disagreement between landlords and tenants.  Common problems to avoid are:

Question 1: I believe the tenant in one of my units has died, since someone claiming to be his nephew contacted me to discuss ˜taking over the lease’. I told him I would have to have all the details in writing, and would then respond. What happens to the tenancy when the tenant dies? And…

Question One:  I have a rent controlled building in the City of Los Angeles. One of my friends owns a similar building that was built around the same time as mine. He tells me that he is not under rent control because he has a luxury exemption. I have never heard of that. What is…

Legal Tips When Buying an Apartment Building By Dale S. Alberstone, Esq. This month, let me suggest some ideas of a legal nature which may assist AOA members with their purchase of apartment buildings.  While these tips may be used for all types of real property acquisitions, they focus on multi family dwelling structures.

‘s Here! The BIG Million Dollar Trade Show and Landlording Conference! Thursday, May 17th at the Long Beach Convention Center Hall C Mark your calendars for Thursday, May 17th for AOA’s Million Dollar Trade Show and Landlording Conference in Long Beach. You will meet just about every contractor and vendor you will ever need¦ it’s…

The National Fire Protection Association (NFPA) requires that all fire protection systems be inspected, tested and maintained periodically in order to ensure a reasonable degree of protection of life and property from fire. It is your responsibility to perform all other periodical inspections and testing of the fire sprinkler system. An “Annual Test” will provide…

Marginal Tax Rates vs. Effective Tax Rates With the Republican presidential primaries in full swing, we’ve seen a lot of attention focused on the income tax rates paid by the candidates. In a debate earlier this month, Mitt Romney, who is very wealthy, commented that he thought his income tax rate was around 15%. This…

Building a loan package is both science and art. The science is predictable: certain things must be included in each file and adjusted for the type of property we’re talking about. The science is pretty standard. The art is different. A lot of underwriters left the business after 2008 and the ones still remaining are…