Author Archive

Tips for Dealing With Difficult Renters

Written by Landlord Property Management Magazine on . Posted in Uncategorized

By Elizabeth Millar of AppFolio, Inc.

A great tenant is gold. You know that they’ll respect your property, keep you informed as ears on the ground, and most importantly, pay rent…on time! As great as it would be to have all renters be just like this, it doesn’t always happen. Have you ever signed a new tenant thinking everything is going to be great, but shortly after you hand over the keys you realize that it’s not going to be sunshine and rainbows?

Delaware Statutory Trust DST 1031 Exchange Advantages

Written by Landlord Property Management Magazine on . Posted in Uncategorized

By Kay Properties and Investments, LLC

Delaware statutory trusts offer a number of potential advantages to investors. Used correctly, they can be an effective tool for building and preserving wealth. This article discusses a handful of the potential advantages that are available to investors using DSTs for their 1031 exchange. Please remember that Delaware Statutory Trusts also have a number of disadvantages that investors should consider as well.

Better (and Cheaper) Ways to Boost Senior Living Occupancy

Written by Landlord Property Management Magazine on . Posted in Uncategorized

by Guy Lyman, RealPage, Inc.

Solid occupancy numbers often blind senior living property managers to a glaring problem: the cost of keeping those units full.

Add up what you’re spending on third-party lead sources along with internal resources devoted to working leads and you’d probably be shocked at your cost per lease. The good news is that forward-thinking senior property managers are slashing this cost dramatically by simply taking full advantage of marketing tools that have been around for a while now.

Why California Has the Nation’s Worst Poverty Rate

Written by Landlord Property Management Magazine on . Posted in Uncategorized

By Ryan McMaken, Mises Institute

The LA Times recently reminded its readers that California has the highest poverty rate in the nation. 

Specifically, when using the Census Bureau’s most recent “Supplemental Poverty Measure” (SPM), California clocks in with a poverty rate of 20 percent, which places it as worst in the nation.

To be sure, California is running quite closely with Florida and Louisiana, but we can certainly say that California is a top contender when it comes to poverty.

This continues to be something of a black eye for California politicians who imagine themselves to be the enlightened elite of North America. The fact that one in five Californians is below this poverty line doesn’t exactly lend itself to crowing about the state’s success in its various wars on poverty. 

Many conservative sites have seized on the information to say “I told you so” and claim this shows that “blue-state” policies fail. One should be careful with this, of course, since there are plenty of red states in the top ten as well.

4 Important Questions to Ask Yourself Before Purchasing a Vacation Rental Home for Income

Written by Landlord Property Management Magazine on . Posted in Uncategorized

By Rob Stephens

Interested in renting out your yurt, tiny house or couch? Now there are several options homeowners have to make extra income. For those looking to purchase a second home, often called a vacation rental home, renting out to vacationers is a great way to afford purchasing an additional property. Not to mention, for a growing number of travelers, renting a private home is the only way to go and typically offers more choices, comfort and privacy than hotels, and often cost less as well.

There’s no question that the vacation rental business is booming. In the United States alone, revenue in this market is approaching $18 million, with a projected annual growth rate of 6.6 percent. That makes operating a short-term vacation rental an extremely attractive option for generating extra income.

While there are plenty of opportunities in the vacation rental business, there also are plenty of questions about how to succeed. If you’re thinking about investing in a vacation rental property (or renting out property you already own), here are the top four questions to ask before you purchase:

UNDER GUISE OF ‘AFFORDABLE HOUSING’ ABUSIVE AGENCIES MIGHT BE MAKING A COMEBACK

Written by Landlord Property Management Magazine on . Posted in Blog

by Steven Greenhut

In the seven years since Gov. Jerry Brown shut down California’s redevelopment agencies, their defenders have managed to resuscitate their image. Never mind that these controversial agencies ladled out corporate welfare, wantonly abused eminent domain on behalf of developers and diverted $5 billion annually from public services. A new bill would bring them back to life, and its supporters would have us believe they’re the means to resolve California’s housing crisis.

That argument is bizarre given that “redevelopment” actually helped cause the current housing shortage because it overvalued the construction of sales-tax-generating big-box stores at the expense of home construction. Sure, redevelopment law required agencies to set aside 20 percent of their proceeds to build subsidized apartments, but the relatively small number of redevelopment-created units pales in comparison to the havoc wreaked by the land-use distortions caused by these agencies.

4 Important Questions to Ask Yourself Before Purchasing a Vacation Rental Home for Income

Written by Landlord Property Management Magazine on . Posted in Blog

By Rob Stephens

Interested in renting out your yurt, tiny house or couch? Now there are several options homeowners have to make extra income. For those looking to purchase a second home, often called a vacation rental home, renting out to vacationers is a great way to afford purchasing an additional property. Not to mention, for a growing number of travelers, renting a private home is the only way to go and typically offers more choices, comfort and privacy than hotels, and often cost less as well.

Multifamily Demographics: People, Markets & Cities

Written by Landlord Property Management Magazine on . Posted in Blog

by John Wilhoit

Prior to analyzing financials for a potential multifamily acquisition, there are two things we must know about a property; what and where.   What type of property, in terms of quality, and where it is located?  Without first distinguishing some characteristics about what and where there is no reason to devote time to a review of income and expenses.   In this article we will look at the where.

Why Debt Can Hurt You: DST 1031 Exchange Property Market Insights – Example DST 1031 Case Study

Written by Landlord Property Management Magazine on . Posted in Blog

By Chay Lapin, Senior Vice President, Kay Properties & Investments

Recently a client in a 1031 Exchange with $4,000,000 of equity was working with another registered representative and talking to a sponsor directly. In talking with Kay Properties and Investments, they learned that we specialize in DST 1031 Exchanges and that we have access to a variety of DST properties from many DST sponsor companies throughout the industry.

After we hosted the family at our Los Angeles Headquarters and they had a chance to visit with our team, we learned more about their situation.

The building they were selling was debt free. In this scenario, the client could go into DSTs that are debt free with no mortgage. This means that these DST properties could never be foreclosed on by a lender and do not carry the risk of mortgage maturity and refinancing.

Bed bugs an itching topic for rental housing providers

Written by Landlord Property Management Magazine on . Posted in Blog

by Daniel Bornstein, Esq.

An Inglewood family sued their landlords, Amusement Six Apartments, for breach of warranty of habitability, emotional distress, negligence, and breach of contract after they didn’t sleep tight.

Nothing can tug at the heart of a jury more than a three-year-old that is covered in bed bug bites and scratches himself to permanent scarring. As if Little Jorge Jr.’s bleeding and disfigurement were not enough to incur the ire of the jury, the child’s family was instructed by apartment management to discard their furniture and sleep on the floor in the aftermath of a bed bug infestation.

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