Maximize Your Multifamily Property’s NOI with Utility Billing Best Practices in 2024 By Livable

Utility cost recovery is critical to maximizing a multifamily property’s NOI. Non-payments (and late payments) impact cash flow and the homeowner or property manager’s ability to properly budget.  Of course, a number of factors impact utility cost recovery. But (arguably) the most important – resident billing itself – is too often overlooked. Why does billing…

Read more

What’s Happening in Real Estate By Lloyd Segal, President of the Los Angeles County Real Estate Investors Association

L.A. City Council Approves Rent Hikes   Landlords, you can breathe again. After a lengthy discussion, the Los Angeles City Council approved rent increases on rent-stabilized units to 4% (or up to 6% if landlords cover gas and electric costs). Council members voted 10-2 last Tuesday night to move forward on the proposal, meant to limit…

Read more

Legal Q & A By Richard Beckman, Esq.

Below are questions asked by rental property owners regarding California rent control laws followed by answers provided by Attorney Richard Beckman.   Question 1: My Oakland unit is listed as having a washer and dryer. Can I have the tenants pay for any repairs that may occur to the washer/dryer in the future? Answer 1:…

Read more

How Will SB 567 Affect You? by AOA

This law tightens up the requirements for a landlord to terminate a tenancy under the Tenant Protection Act (i.e., California statewide rent cap and just cause eviction law) for no-fault evictions based upon owner move-in or substantial remodeling.  SB 567 also adds damages, penalties, attorney fees and enforcement mechanisms for violations. (Effective April 1, 2024). …

Read more

Something to Think About #137: Thoughts on Commercial Properties by Klarise Yahya, Commercial Mortgage Broker BRE: 00957107 – MLO: 249261

The three greatest expenses incurred with income property (in no particular order) are real estate taxes, insurance and maintenance. These items are typically paid by the owner when the agreement is (a) residential and / or (b) short-term but are commonly shifted to the tenant with commercial or long-term contracts. Commercial leases are broadly classified…

Read more

Legal Q & A By: Franco Simone, Esq.

Below are questions asked by rental property owners regarding California property management, followed by answers provided by the law firm of Simone and Blevins.   Q: I own a six-unit apartment building in unincorporated El Cajon, built in 1980. I’ve rented a unit to the same tenants for over ten years. There have been multiple…

Read more