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"It is better to have permanent income than to be fascinating." Oscar Wilde I often see properties with large unused areas which could be potentially income producing additions to your [...]

"Life always gives us another change. It's called to Move On." Ana Antunes When a tenant moves out, housing providers are required to return the security deposit to the old [...]

"One of the greatest delusions in the world is the hope that the evils in this world will be cured by legislation." Thomas Reed If you have ever had to [...]

"Experience is a good teacher, but she sends in terrific bills." Minna Antrim With the ever increasing costs of utilities, many housing providers across the nation have turned to a [...]

"Nothing is so permanent as a temporary government program." Milton Friedman Efforts of housing providers along with California Apartment Owners Associations have allowed us to maintain the rent control; mandated [...]

"Everyone is a buyer, everyone's a potential purchaser and everyone's a potential vendor." Joe Hockey As a housing provider, you will be called on to do all types of repairs [...]

"When you're providing a service to somebody, you're the guy they always call when something's wrong." Steve Wozniak Do you provide stoves and refrigerators for your rental units? If AB [...]

"I tell people marriage is a compromise and so are renovations." Candice Olson As the years go by, your apartments are probably looking a little less modern, regardless of the [...]

"Future is about creating value. If we have the tools to empower each other, more possibility is reality." Jessica Jackley If you are looking to sell or refinance, the rental [...]

"As long as you have you own apartment and can pretty much make rent for the next year, you're golden." Ari Shaffir When I show an apartment to a prospective [...]

"If money can't buy happiness, I guess I'll have to rent it." Al Yankovic At some point in time, as housing providers, there will be tenants who just aren't happy. [...]

"Be fearful when others are greedy and greedy only when others are fearful." Warren Buffet An UPREIT is an UMBRELLA PARTNERSHIP REAL ESTATE INVESTMENT TRUST. This could be an investment [...]

"Don't break the rules when you haven't fully figured them out yet." Pawan Mishra Even though we are halfway through April, I wanted to remind housing providers about a new [...]

"Abuse is the weapon of the vulgar." Samuel Griswold Goodrich On July 2nd of 2024, the governor signed into law SB 1051 which changes existing law regarding the requirement of [...]

"Building is about getting around the obstacles that are presented to you." Jeremy Renner ADU's or Accessory Dwelling Units have been approved for California beginning in 2016. Thee requirements have [...]

"You have to learn the rules of the game, and then you have to play better than anyone else." Albert Einstein According to AB 247 and SB 924, housing providers [...]

"Progress always involves risk. You can't steal second base and keep your foot on first." Fred Wilcox Have you received an offer on your building that sounds exactly like what [...]

"Don't let anyone who hasn't walked in your shoes tell you how to tie your laces." Anonymous When you sell your building one of the most important considerations is What [...]

"It is the neglect of timely repair that makes rebuilding necessary." Richard Whately When I get a call from a tenant, regarding any kind of physical issue with their unit [...]

"Virtue is more to be feared than vice, because its excesses are not subject to the regulation of conscience" Adam Smith The County of Los Angeles has approved a six [...]

"Words are but the signs of ideas." Samuel Johnson When you have a vacancy do you install "For Rent" signs on your property? There are different schools of thought on [...]

"Underdevelopment is lack of maintenance." Lucero Issac A few years ago, I had a client with a 14 unit building in Gardena. He was refinancing and the lender was doing [...]

"I tend to splurge for convenience. I'll pay a lot not to waste time." Tom Anderson I have changed my view over the years regarding appliances provided by the housing [...]

"We live in the midst of alarms; anxiety beclouds the future. We expect some new disaster with every newspaper we read." Abraham Lincoln Recently, but before the wildfires ravaged California, [...]

"In all natural disasters through time, man needs to attach meaning to tragedy, no matter how random and inexplicable the event is." Nathaniel Philbrick As we see all around us [...]

""The price of inaction is far greater than the cost of a mistake." Meg Whitman. At the start of the new year, it is a great time to raise rents. [...]

"Regulations grow at the same rate as weeds." Norman Ralph Augustine AB 2747 may cause a little extra work for housing providers beginning Jan 1, 2025. Tenants will now have [...]

"Sanitation and cleanliness are among the humblest of the civic virtues, and it is easy to underestimate their significance." Ram Nath Kovind A recent article in the Apartment Owners Association [...]

"Whether you think you can, or you think you can't- you're right." Henry Ford I currently have one vacancy as we begin December. With the Holidays coming and people busy [...]

"I am grateful for what I am and have. My Thanksgiving is perpetual." Henry David Thoreau We are all celebrating another Thanksgiving. We hope that yours is full of family, [...]

"Heir follows heir as wave succeeds to wave." HoraceI I have not personally had a tenant pass away in one of my apartments for over 25 years. It is, however, [...]

"Don't wait for the perfect time to start making changes in your life; the time is now." Chris Gardner We are nearing the Balcony Inspection deadline. The Deadline is JANUARY 1, [...]

"Risk comes from not knowing what you're doing." Warren Buffett You have a nice building in a good rental area which should, on paper, provide you with a good return [...]

"We do not have government by the majority. We have government by the majority who participate. " Thomas Jefferson Housing providers should be worried. Prop 33, which could remove the [...]

"To have another language is to possess a second soul." Charlemagne I recently needed a Spanish language version of a 24 hour notice. I assumed my Apartment Owners Association would [...]

"There is no security on this earth; there is only opportunity." Douglas MacArthur There comes a time when we must return the security deposit to a former tenant. We have [...]

"Action is the foundational key to all success." Picasso The IRS allows for properties that have been inherited to get a "stepped up basis" or a new tax basis based [...]

" The right of voting for representation is the primary right by which other rights are protected." Thomas Paine This may sound obvious- 2 propositions on the ballot - one [...]

 "Who's costly bad experience would you rather learn from, mine or yours?" John Nuzzolese California law requires a 24 hour notice to enter a rented unit by a landlord, with [...]

"If you think compliance is expensive, try non-compliance." Paul McNulty As apartment owners, the Fair Employment and Housing Act (FEHA) or the Unruh Act prohibits discrimination against protected classes of [...]

"The measure of intelligence is the ability to change." Albert Einstein The definition of a "mom and pop" landlord may vary depending on who you ask, but if you are [...]

"A satellite has no conscience." Edward R. Murrow Do you get tired of unsightly satellite dishes on the eaves of your multi family building? I have been looking into this [...]

"Don't look for the needle in the haystack. Just buy the haystack." John Bogle Return on equity is a term often used to determine the value of public companies. It [...]

"Efficiency is doing better what is already being done." Peter Drucker For a little more than the cost of a window air conditioning unit, you may want to consider an [...]

"We cannot solve problems with the same thinking we used when we created them." Albert Einstein As any housing provider knows, we are advertising "for rent" a lot less than [...]

"Anyone who says the housing crisis can be resolved with one magic bullet or by the next election, isn't being honest." David Lammy The most significant issue facing California housing [...]

"There are 86,400 seconds in a day. It's up to you what to do with them." Jim Valvano When I got into the rental business, it was much easier. Easier [...]

"A neurotic is a man who builds a castle in the air. A psychotic is the man who lives in it. A psychiatrist is the man who collects the rent." [...]

"You want a friend in Washington? Get a dog." Harry S. Truman I like pets. Grew up around them and enjoy having them around. That being said, the new "pet [...]

"Look forward with hope, not backwards with regret." Alba Douek A recent article from the Orange County Register talked about the decline in multi family permits for new construction. The [...]

A clean house is a happy house." Louisa May Alcott California Attorney General Ron Bonta recently announced a settlement from ARNEL MANAGEMENT, from security deposit deduction which were, according to [...]

"The future depends on what you do today." Mahatma Ghandi The "Rental Housability Program" was passed last week with a vote of 5-0. It affects unincorporated areas of Los Angeles [...]

"Know what you own and why you own it." Peter Lynch I recently listed a 7 unit building in Torrance which offers owner financing. How does this benefit the new [...]

"If opportunity doesn't knock, build a door, but only as long as it's not visible from the street." Milton Berle In April, SB 9, which had allowed for lot split [...]

"A fine is a tax for doing something wrong. A tax is a fine for doing something right." Anonymous In California, housing providers are saddled with a statewide rent control, [...]

"Obey the laws, or they will be obeyed in a way you won't like." Benjamin Franklin As of April 1, 2024 there is a new law about relatives living in [...]

"Do not put all your eggs in one basket." Warren Buffet When I purchased my first property, in 1978, I put it in my name, as an individual. I sold [...]

When I let go of what I am, I become what I might have been." Lao Tzu I am not trying to be overly philosophical, but when you look at [...]

"Whenever politicians start naming tax laws after themselves, we are definitely not on the road to simplicity. It crosses some kind of line." H.L Mencken In November of 2020, Proposition [...]

Do you provide your units with a stove and refrigerator ? Some do and many do not. It can be a significant expense for tenants who do not have these [...]

"Sometimes, staying put, going sideways, or moving backward is actually the best way to eliminate what blocks or impedes your path." Ryan Holiday It appears that based on recent reporting, [...]

"Life is either a daring adventure or nothing at all." Helen Keller In an article dated February 28, 2024, J.P. Morgan Chase has good things to say about the Los [...]

"The restriction of knowledge to an elite group destroys the spirit of society and leads to its intellectual impoverishment." Albert Einstein I think housing providers should have the best information [...]

"You either spend your life preparing or you spend your life repairing." John C. Maxwell The balcony inspection report for multi family buildings is due by January 1, 2025. Weinstein [...]

"Risk comes from not knowing what you're doing." Warren Buffett With the current shortage of rental properties, you may have not had a vacancy for a while. You may have [...]

"You can make money two ways- make more or spend less." John Hope Bryant It's no surprise that tenants use more utilities when the landlord is paying. There have been [...]

“There’s always stuff to work on. You’re never there.” ― Tiger Woods I often see rental units that are 700 to 800 square feet and have one bedroom. I have even [...]

Your multi-unit properties are a business. Hopefully, they are profitable. But not only is your monthly cash flow important to you, but it can also determine the value of your [...]

"Don't wait to buy real estate. Buy real estate and wait." Will Rodgers I was speaking to a colleague the other day about interest rates and multi unit values. Like [...]

"The hardest thing in the world is to understand the income tax" Albert Einstein On April 1st, also known as April Fools Day, a new measure will take effect fo [...]

"Our only security is our ability to change" John Lilly Although the rental market doesn't appear to be quite as hot as last year, it is still pretty good. With [...]

"When the gig ain't there, you still got to pay the rent. I learned that a long time ago." Jimmy Scott Many apartment owners, over the years have tried renting [...]

"There's no shortage of remarkable ideas, what's missing is the will to execute them." Seth Godin Today we are discussing submetering of water meters. SUBMETERING, according to Wikipedia, is a [...]

"Prepare and prevent, don't repair and repent." Author Unknown I am often asked by property owners, what is a good amount of times during the year to inspect your rental [...]

"Until the contract is signed, nothing is real." Glenn Danzig Samuel Goldwyn once said that an oral contract isn't worth the paper it's written on and yet here we are [...]

"Unexpected events can set you back or set you up. It's all a matter of perspective" Mary Ann Radmacher One of the things landlords worry about is a tenant moving [...]

"There is no reason that the universe should be designed for our convenience" John D Barrow Although the universe is not designed for our convenience, providing a small convenience to [...]

"By failing to prepare, we are preparing to fail" Ben Franklin In any competition, we must always put our best foot forward. Apartment rentals are no different than other endeavors. [...]

"Happy are those that dream dreams and are ready to pay the price to make them come true" Leon Suenes I was recently talking to a colleague who built a [...]

"Great things in business are never done by one person. They're done by a group of people" Steve Jobs Whether you have one building or several thousand units, you need [...]

"You have to learn the rules of the game. And then you have to play better than anyone else." Albert Einstein As you hand out rent raise notices (I hand [...]

"Do not let what you cannot do interfere with what you can do" John Wooden The words of the legendary Coach, John Wooden remind us that we all have limitations. [...]

"I've missed more than 4000 shots in my career. I've lost almost 300 games. Twenty six times I've been trusted to take the game winning shot and missed. I've failed [...]

"A life spent making mistakes is not only more honorable, but more useful than a life spent doing nothing" George Bernard Shaw Of course; none of us spend our life [...]

"Stop being afraid of what could go wrong and start being excited of what can go right." - Anthony Robbins I have had many investors over the years, tell me [...]

"Things turn out best for those who make the best of the way things turn out." - John Wooden These words ring true for me all the time. Life will [...]

When you are looking to exchange to a new building or just purchase a building, where are some good places to look for a good deal and what should you [...]

We often talk about "off-market" multi-family deals. These are properties where the owner has said they would consider an offer but does not want to sign a listing and have [...]

With rising interest rates, getting the maximum value for your building is a valid concern. What are some ways to put your property in position to command the best offer [...]

There are different stages of our investment life. You may be looking to build your investments into a vehicle to fund your retirement. On the other end, you may have [...]

Your multi-unit properties are a business. Hopefully they are a profitable one. But not only is your monthly cash flow important to you, it can determine the value of your buildings when [...]

With prices of materials and labor at near record  highs, is this a good time to remodel my units? What are the advantages of doing improvements now? MAJOR REMODEL MAY [...]

We have always specialized in working with clients who's buildings did not sell. There is really only one question. Why? Is there something you as an owner can do or [...]

As an experienced investor in multi unit properties for over 40 years, this is a question I often hear from new and experienced investors. There is no absolute answer, so [...]

In 1950, 8% of the population was over 65. Today that number is 16.9% and by 2050, it is projected to be 22%. There are currently 25 million Americans over [...]

A value add property is one where the owner can increase the value through renovations, rebranding or improvement in management. Typically, by increasing the NET OPERATING INCOME, additional value has been created [...]

I recently sold a building which had a tenant who had not paid rent in 3 years. Through assistance programs, the owner was able to recoup some losses, but the [...]

IS CURRENT DEMAND SUSTAINABLE? With vacancy rated under 3.5% in Los Angeles and surrounding counties, it will require a lot of new projects to be built in order to satisfy current [...]

WHAT IS A MAJOR RENOVATION A major renovation of an apartment is usually defined as one which takes more than 30 days to complete and requires a building permit. This would include [...]

WHAT IS SOFT STORY? A soft story building is a multi story structure built with a first floor that is much less rigid than the floors above, making them prone to [...]

Are any of your rental units built without a permit? Is there an additional "bootleg" unit on your property? I once saw a property in Bellflower that had been foreclosed on [...]

Have you ever wondered if one of your tenants was a hoarder? If so what can you do about it? WHAT IS HOARDING? Here is how The American Psychiatric Association defines hoarding: [...]

The Statewide rent control law for California (AB 1482) Allows a raise of 5% per annum plus the amount of change in Consumer Price Index up to an additional 5%. [...]

Whether or not to provide appliances for your tenants is one of those issues that owners usually decide early on in their investment career. Did you make the right choice [...]

Should I require renter's insurance from my tenants? Seems like an easy question, but something you may not have given much consideration. As landlords, we try to avoid litigation, and this is [...]

People often ask how much of a security deposit can they charge on multi family units in California. The law in California says that you can charge up to twice [...]

Is it worth it to own the laundry equipment at my multi unit property? THE PROS Obviously, it will mean more cash. Instead of working out a split with a leasing [...]

There are many great tenants who have pets and are wiling to pay a premium to have them in their apartment. It is, in most cases, going to increase wear [...]

Tenants are aware of what's going on in your building more than you are. Obviously, because they live there. As important as it is to maintain your annual rent raises, [...]

Effective June 16th, the Fed raised interest rates 0.75 %.in an effort to reduce inflation. This is the largest raise since 1994, and will have an effect on every type [...]

With the appreciation of the last few years, you have considered trading into a building out of state. Is it right for you? Well, it depends on a number of [...]

Why are so many owners of multi unit owners trading into triple net leased properties? WHAT IS A TRIPLE NET LEASED PROPERTY? These are properties where, according to the lease, the [...]

Theodore Roosevelt said: "Do what you can with what you have where you are."  Was he talking to owners of multi unit properties? Maybe so. At the end of the [...]

The numbers appear to be encouraging for owners of multi family investment properties. You may be asking yourself "Am I getting the most out of my multi family investment property?" [...]

How are rising interest rates affecting multi unit property values? As you know, The Fed just raised interest rates .05% after a raise in March of .025.The most recent raise [...]

What is the best way to value apartments and multi-unit properties? There are a number of ways to determine the value of a multi unit property. They are all subjective, [...]

Should I add an ADU to my multi family property? Have you thought about adding an accessory dwelling unit to your muti-unit property? Last year saw the passage of SB 9 and [...]

Should I do a 1031 exchange? What are the alternatives? If you have decided it is time to sell, the big question is: " What now?" There are a number [...]

How much can I raise my rents? In Southern California, the best answer is "It depends". The statewide rent control (AB 1482) which took effect in January of 2020 allows [...]

Have You Raised Rents Lately? Many multi family owners have not raised rents in the last couple of years because of COVID. There are cities, such as Los Angeles and [...]