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…
As building owners move forward with implementing the Mandatory Soft Story Retrofit (MSSR) program, there may be some confusion about the financing programs and pass-through allowances available for the costs of complying with the program.
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,…
How much does it cost to find a new tenant? We lose at least a month’s rent. Then there’s the advertising and marketing costs, the trips to the property for showings, the time spent screening. After that, we endure the aggravation, the no-shows, the no-way-I-would-rent-to-them applicants, and the stress over no rent to cover the…
The completion of a move-in inspection is a document with serious legal ramifications. Without a complete and executed move-in inspection form, management has no documentation to show the condition of the apartment at the time of move in. An executed document shows the resident accepted the condition of the apartment with whatever notated findings. There…
For a variety of reasons, widespread negative interest rates probably won’t happen in America, at least in the near future. Below zero interest rates are hugely stimulative and wouldn’t be appropriate when government figures indicate growth over the last 12 months is somewhere above zero, depending on who is
Unlawful Detainer is the name of the action filed by an owner or landlord to gain possession of property. This is usually done after a breach in a rental agreement; the most common of which is non-payment of rent. An Unlawful Detainer or (UD) action can also be filed when the landlord/owner wants to retake…
Many landlords, myself included, like to use a written scoring system where applicants receive points for various criteria. If an applicant reaches a score they meet the minimum requirements. One landlord started the discussion by asking if others can share about the scoring system they use. Below is one example of a scoring system that…
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