Author Archive

Perspective: The Folly of Rent Control

Written by Landlord Property Management Magazine on . Posted in Blog

    By Natalie Davis, President, Colorado Association of Realtors

    [Editor’s Note: While this article was written about rent control regulations proposed in the State of Colorado, the arguments made in opposition to the failed policy are valid for any jurisdiction.]

    There is little argument when it comes to the issue of affordable housing — owned or rented — that Colorado is at a critical juncture to identify and implement much-needed solutions to protect the economic vitality and housing future of our state and its residents.

    California is not East Berlin. A wealth tax in California would expedite the exodus.

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Jon Coupal

    Daily news reports on the great “California Exodus” are not just from conservative outlets. Left-leaning publications such as the Los Angeles Times and San Francisco Chronicle have recently reported on the outmigration of upper-income citizens who, even if not billionaires, still generate a lot of income tax revenue.

    The California Legislature held a hearing on Assembly Bill 259 which would lay the foundation for the imposition of a wealth tax. The companion legislation to AB 259 is a proposed constitutional amendment that would, among other things, effectively sweep away Proposition 13’s limits on taxing property.

    Resolve to Save in 2024

    Written by Landlord Property Management Magazine on . Posted in Blog

    by Livable Content Team 

    2024 is here! Whether or not you set resolutions, it’s natural to look for ways to improve your business at the beginning of a new year. This is a great time to think about building and bettering your properties for the sake of your business growth and development. The health of your business is everything. You can’t serve Residents and protect your investments without a healthy bottom line. 

    Using Algorithms To Set Rents Isn’t Price Fixing; Rent Control Is

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Roger Valdez, The Center for Housing Economics

    It is an irony almost never noted that tenant advocates who support rent control, that is fixing prices to benefit the broad class of people who rent housing. Yet, in a novel legal challenge to shared price information, tenant advocates are suing housing providers for the exact same thing, allegedly trying to “fix prices” or forming a cartel to eliminate competition. The people filing the legal challenge, of course, aren’t concerned about consistency or competition, but fomenting the friction caused by inflation in the housing market when there is regulatory scarcity. The ongoing legal challenge has even gained support from the Department of Justice. From an economic standpoint, the challenge exposes the fundamental and deliberate misrepresentation of price in the housing economy and should be rejected by courts and the public.

    Landlord / Tenant Questions & Answers

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Ted Kimball, Esq., Partner, Kimball Tirey & St. John LLP

    • Question:  If a tenant is evicted, do they forfeit their security deposit?
    • Answer:  Although a tenant is evicted, they still have a right to an accounting of the use of their security deposit. The deposit can be used for cleaning, repairs beyond normal wear and tear and delinquent rent.

    California’s Insurance Market in Crisis

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Grant Otter, Heffernan Insurance Brokers

    The headwinds facing the global Commercial Property and Casualty insurance market have gotten stronger, with trends over the past five years being of “major concern” in nearly every line of business for habitational property owners and managers. As members of the Apartment Association of Greater Los Angeles, it is crucial to stay abreast on the evolving insurance market landscape to make well-informed decisions regarding your insurance program. 

    Manufactured Housing: Booming Investments & Cutting-Edge Tech

    Written by Landlord Property Management Magazine on . Posted in Blog

    In recent years, manufactured housing has emerged as a crucial component in addressing the affordable housing crisis in the United States. Once viewed as a less desirable housing option, this sector has undergone a transformation, capturing the attention of investors and innovators alike. This article delves into the reasons behind this shift, the challenges faced and the technological advancements propelling the industry forward.

    Manufactured housing is a growing investment opportunity

    Do manufactured homes hit the sweet spot for investors? The answer is mixed.

    REASON TO BE EXCITED

    As affordable housing becomes increasingly scarce, consumers are turning to manufactured homes. This has led to a surge in development. In 2022, Lesli Gooch, CEO of the Manufactured Housing Institute, noted the production of over 100,000 units in 2021. This was the first time this has happened since 2006. With regards to affordability, each home averaged $87,000.

    Essential Maintenance Tasks for Apartment Owners

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Mike Peterson, Freelance Writer

    In 2021, there were 400 deaths and 3,100 injuries caused by apartment fires nationwide, costing around $1.7 billion. While various factors led to these sad statistics, the lack of essential maintenance is among them. As an apartment owner, you must ensure that your property is well-maintained to look after the safety and well-being of your tenants and prevent these disasters from happening.

    However, performing essential maintenance or starting “do it yourself” (D.I.Y.) projects to increase the property’s value can sometimes lead to unforeseen circumstances, like sustaining injuries. Let’s explore the maintenance tasks that every apartment owner should perform, along with essential safety and liability considerations and tips to increase the value of your apartment property.

    Use it now- rules surrounding no-fault ‘substantial remodel’ evictions will soon change and become more scrutinized. 

    Written by Landlord Property Management Magazine on . Posted in Blog

    By Daniel Bornstein, Esq.

    Currently, owners subject to statewide rent and eviction controls endeavoring to recover possession of the premises by substantially remodeling the property do not have to have their plans drawn up and permits issued before work begins. Not so beginning April 1, 2024. 

    We had the opportunity to speak with a rental property owner in Walnut Creek and, after many years, wants to get out of the landlording business, sell her property, and move east to be closer to her adult children. But there are a few hurdles to overcome to accomplish the goal.

    So how can she sell her duplex as vacant when both units are occupied by responsible tenants?  The tenants are making timely rent payments and are otherwise exemplary, so we cannot find any theories to evict them for anything they did wrong. No “at-fault” just causes can be identified.