The caretaker for our tenant in #3 called last week, asking if a ramp could be built down our
tenant’s 3 front stairs, so that he could get in-and-out of his unit using his wheel-chair. She said that Mr. William’s insurance company would pay for both the installation costs, and the costs of removing the ramp should Mr. Williams decide to move some time in the future.
By Ian Riley for Contemporary Information Corp.
A new year comes with a multitude of new things, and the rental housing industry is no exception. With the passing of California’s Assembly Bill No. 2559, effective January 1st, 2023, an existing consumer report ordered by a landlord on a prospective tenant can now be redefined as a reusable tenant screening report. So, what exactly does this mean?
Simply put, an applicant’s report can be reused for the application process within 30 days of purchase. The furnished report must comply with all state and federal laws pertaining to the use and disclosure of information used in the tenant screening process and must include all specified information as outlined, including, but not limited to: full legal name, verification of employment/income, previous addresses and last known address, the results of a housing record history check (consistent to applicable law), any records that may exist of the applicant’s criminal history, etc.
Contributed by the Livable Content Team
How can you get your tenants to use utilities more responsibly and reduce your property’s expenses? As a building owner or property manager, you can take steps to facilitate smarter utility use on your properties, and get your tenants involved in utility saving. Here’s how.
REPLACE OLD, INEFFICIENT APPLIANCES
There are simple changes you can make on your properties that will reduce utility bills. According to the Department of Energy, the average household saves about $225 in energy costs per year just by using LED lighting. It’s reported by the EPA that the average family can save $130 in a year by replacing inefficient toilets at home with WaterSense labeled models.
By David Crown, Los Angeles Property Management Group
I’ve found that many long-time rental property owners hold onto management of their property not because they prefer the control or because they think they can do the work more efficiently than a management company, but simply because they’re used to things being a certain way, and they’re averse to the idea of change. I promise this isn’t just an assumption being made by this professional property manager who can’t convince an owner to let go.
I’ve been told on multiple occasions by apologetic owners that even though they don’t like the process or result of managing on their own, the idea of change worries them too much. So my challenge to self-managing owners of rental property is this: learn to accept change so that professional property managers can elevate your ownership experience to new heights. On the flipside, my challenge to professional property managers is to make sure your prospective clients know that you’re committed to making change as painless as possible for them. In this article, I’ll get into a few specific reasons why change is good for owners, and a few ways managers can make it easier for them. If we had never embraced change, we would never have learned to speak or walk! Sometimes it’s necessary in order to operate at a level we’re not accustomed to.
Managing the tragedy of a tenant passing away in the rental unit
By Daniel Bornstein, Esq.
Having a death occur in a rental unit is always a traumatic experience for landlords. Most of the experiences we have encountered are natural deaths. Yet with a raging drug addiction problem with fentanyl becoming the deadliest killer, it can become even more traumatic.
Discovering a tenant slumped over a toilet who passed away from an overdose or a landlord who hired a contractor to make agreed-upon repairs, only to find the tenant lifeless on the kitchen floor. Worse yet, a homicide or a meth-induced suicide occurs in the rental unit. We will spare you many horror stories that we hope and pray you will never encounter.
Before “going off” and writing my monthly editorial diatribe, I need to be in the right mood. Sometimes there’s this sort of “spark” that gets my heart racing and compels me to get to my laptop and pound away at its keyboard. That “spark” may be a line or two I have just read in a news article or something that “pops” into my head during a workout or while driving – it is usually the daily workout that does it.
For those of you brave souls that venture to the pages where my editorials appear, and then actually read some or all my monthly rantings, you should know that I often cannot control the timing of this catalyst that causes me to produce my writings, and at times I end up creating my compositions well in advance of the date your copy of Apartment Age lands on your front doorstep. So, please do excuse me if things or events may have transpired differently than I have portrayed or captured them here. I cannot predict the future, but I do see and can comment on trends.
So, now “on with the show” as we say here in Hollywood!
Dwight Kay, Founder and CEO Kay Properties & Investments
There are a number of potential benefits associated with exchanging into a Delaware Statutory Trust (DST) 1031 property.
However, it is important to note that these potential benefits should also always be carefully weighed with the potential risks that are possible with DST investments, and as with all real estate investments, investors should consult their tax attorney and or Certified Public Account before investing in DSTs.
Still, DSTs continue to grow in popularity especially among aging baby boomers who are tired of managing their own properties and are looking for a way to transition into a passive income stream. DST investments not only provide investors the potential for passive income, but also the following six benefits as well:
It’s been said that this year’s book at midnight turns into the footnote in the next. That’s partially true. For landlords, property managers, and real estate practitioners, a new regulatory regime that was spawned in 2022 will be more than a footnote in the new year. Some perspective is in order.
Statewide eviction protections end but some defiant locales continue to be out of step by continuing COVID-related protections.
After COVID reared its ugly head, the public policy priority was to stabilize housing, shielding residents from eviction for non-payment of rent. Rental housing providers became the only sector in society to be told to provide a free service without compensation. As moratoriums expired, we saw extension after extension, but this came to an end in the summer of 2022.
By Susan Shelley
How much money is enough to solve the homelessness crisis, and on what should it be spent? Every poll shows that Californians list homelessness as a top concern, and the posturing by politicians has reached theatrical proportions. For example, Gov. Gavin Newsom announced on November 3, five days before the statewide general election, that he was pausing the distribution of what remained of the third round of grants under the state’s Homelessness Housing, Assistance and Prevention program.
By Becky Lopez
Most new housing providers may think that once they’ve had a tenant living in their apartment or real estate property, their dream has come true, and all they have to do is to sit back and collect the rent. Often, this dream may turn into a nightmare sooner than you expect. Problems such as delayed payments and tenant issues such as lost keys and broken pipes may become the order of the day. If you’re a new property owner, some valuable tips can make the whole experience less troublesome and more enjoyable. Keep reading.
