How Los Angeles Landlords Can Navigate the Continued Eviction Moratoriums

Written by Landlord Property Management Magazine on . Posted in Blog

By Ari Chazanas, Lotus West Properties

As with many industries and businesses, the pandemic has proven incredibly difficult for landlords and property managers who make their income from rent payments. But as tenants have been unable to pay, landlords have been forced to dip into their savings and other “rainy day” emergency resources to survive.

I’ve shared my insights on the difficulties that landlords and property managers would encounter because of the city and state mandates. Beyond the impact on property owners’ finances, the buildings they own have suffered because there’s little money left over for making necessary repairs and renovations. These reductions in expenses extended to staff layoffs and deferments on mortgage payments and other financial responsibilities. Additional fees were incurred on late payments for expenses such as utilities and insurance premiums.

Are Landlord References from Tenants the New Thing?

Written by Landlord Property Management Magazine on . Posted in Blog

By Nicole Seidner

The internet delivered another of its famous surprises this month when one Australian comedian and renter decided to ‘clap back.’ Tom Cashman applied for an apartment and was approved, however, when he asked the real estate agent for the landlord to give him a reference from the previous tenant, that’s where things got dicey. There may be a new trend of applicants asking landlords for references coming around the corner, and heads up: there’s absolutely a right way and a wrong way to handle it.

References as a Standard

People ask for references all the time. Employers ask for them, landlords ask for them, and in a viral video with 2.4 million views, Tom Cashman asked for this as well. After being approved for the apartment, he asked the agent for something he hadn’t ever done before.  “Would the owner provide a landlord reference from a previous tenant?”  He stated in an email.  Tom Cashman continued in the video that it “it occurred to him he’d never done it before,” and encouraged viewers to start doing the same. With 330.4K likes and 2,185 comments at the time of writing, most of his viewers agree.  “They asked me for three references to see if I’m a good guy,” Cashman pointed out. “What about them? Are you a good guy? Are you going to fix stuff? Are you going to reply to my e-mails?”

Real Estate License For Property Management? (Laws By State)

Written by Landlord Property Management Magazine on . Posted in Blog

Licensure is an complicated issue in property management and real estate. Requirements change from state to state, and reciprocity laws make multi-state management even trickier. Regardless of where you live, it never hurts to get a real estate license and property management license (even if your state doesn’t require one or the other). A real estate license for property management enhances your resume, expands your knowledge of the industry and increases your earning potential.

First, this article covers the benefits of a real estate license for property managers. Then we’ll look at licensing requirements and reciprocity laws in each state.

1. Enhance your resume

Education looks good on a resume. In a competitive job market (or any job market), you want to be able to show your future owner(s) that you’re the most qualified for the job. You understand industry terminology, sales techniques, applicable laws and regulations, etc.

A real estate license for property management isn’t that difficult to obtain, but it does take a bit of time and dedication. In California, a state that requires licensure, you’re looking at about 15-16 weeks to complete a semester of coursework. Plan for about three hours of work per week.

Roofing 101 Series: Is Your Roof Rain Ready?

Written by Landlord Property Management Magazine on . Posted in Blog

Inspections and Maintenance Are Key

Authored by Steve Pinkus, Owner of Royal Roofing Company

Preventative maintenance is always better than waiting for a problem to arise and having to fix it in a panic. If you ignore the “check engine”  light in your car for too long, you could end up stranded on the side of the road. If you do the same to your roof, you could be awake at 2:00am during a storm begging for an emergency leak repair. Even after the clouds pass, you’ll be left with property damage, angry tenants, and a big bill from your roofer.

Contrary to popular belief, water is NOT the #1  cause of roof damage. Extreme weather is a culprit, but the sun does far more roof damage in the long run. In the summer months, the impacts of extreme heat and UV rays make your roof vulnerable before moisture becomes a problem.  Similarly, fallen leaves and debris from a lack of regular maintenance can compromise the integrity of your roof.

The Ellis Act: the ghosts of the past, present, and the future

Written by Landlord Property Management Magazine on . Posted in Blog

We take a close look at Ellis Act evictions and local ordinances that protect the rights

By Daniel Bornstein, Esq.

The 1980s law has always been anathema to tenants’ rights activists who have repeatedly tried to meddle with it.

The Ellis Act is a state law that allows landlords to evict residential tenants in order to go out of the rental business. This right is afforded to rental housing providers even though general public policy is to keep residents housed so long as their tenancy is in good standing. While local governments have a desire to compel landlords to continue to provide rental housing, the Ellis Act puts this impulse in check.

Yet the rights of owners to withdraw their property from the rental market are not unbridled. Local governments still have the ability to implement the Ellis Act and place various restrictions on how landlords exercise these rights.

“Ask Kari!” Light-Up Your Pocketbook – Rent Vacancies Faster!

Written by Landlord Property Management Magazine on . Posted in Blog

By Kari Negri, Chief Executive Officer, Sky Properties, Inc.

Dear Kari: Sometimes I find myself struggling to “turn-over” my vacant units quickly and I’m always worried about choosing the items as décor is always changing – what do you suggest I do?

Marketing and turning over a vacant apartment unit takes time and money, so it is essential that you take into consideration the first impression your available unit gives-off to prospective applicants. Keep in mind that lighting is so important in every home, and as home providers, we can reduce the time our apartments sit vacant by doing it right.  It is amazing how much some fresh paint and a few updated fixtures can do for the lighting in an apartment.  The darker an apartment, then the lighter the paint and the brighter the bulbs should be.  If you are worried about the décor shift your focus to the proper lighting first and then look at some newer buildings and use them as a guide to buy what you need and be competitive.

The Next Frontier in Property Technology (PropTech) is the Workforce Housing Sector

Written by Landlord Property Management Magazine on . Posted in Blog

Article Contributed by Arize

Smart technology is the blueprint for the future of multifamily communities. You can visit luxury high-rises and see all the latest products that make life easier, but that technology is now finding its way into Class B and Class C properties too. As devices and software become more common place, more owners, operators, and residents are seeking out the latest property technology and its benefits as they look for more energy-saving solutions and security monitoring systems.

Technology companies are finding new revenue beyond just their most affluent customers, and investors and venture capital firms want to get involved. In 2021, venture-backed companies in the real estate and property technology sectors raised $21 billion from investors, according to Crunchbase data.

Emergency Preparedness Tips for Property Managers

Written by Landlord Property Management Magazine on . Posted in Blog

Managing rental properties is no easy task. Besides the financial responsibilities and legal due diligence required of property managers, the role comes with enormous responsibility for the safety of building occupants. An uptick in natural disasters, severe weather, and the effects of climate change has made building safety more critical than ever. In fact, the number of disasters has increased by a factor of five over the past 50 years. Read on to get the emergency preparedness tips you need to keep your residents safe and properties secure.

Formulate a comprehensive emergency plan 

Whether you manage single-family rental homes or multifamily apartment complexes, preparedness is a team effort. Every employee — from your maintenance technician to your leasing agent — plays a role in your emergency plan. Do your best to instill that mindset in training your team, and you’ll have a better outcome should your property experience an emergency. 

Understanding Retroactive Residential Fire Alarm Requirements in San Diego

Written by Landlord Property Management Magazine on . Posted in Blog

Information and tips from local fire alarm experts, Bay Alarm Company

Over the past two years, the City of San Diego has started enforcing new updates to its local fire code. These updates apply retroactively to certain buildings constructed before January 1, 1975. Some owners of multi-family buildings have received notices about how their buildings fall under this new code.

At Bay Alarm, we’re working with customers who received this notice to update their systems. Keep reading to learn if your building falls under the new code—and what to do if you receive a notification.

Executive Director Message

Written by Landlord Property Management Magazine on . Posted in Blog

This business of rental housing can really make me crazy sometimes!  Often, it can be the seemingly “little” things that just set me off.  When I get on one of my moods, just stand back everyone and let me be…but, I will and always do eventually calm down.  An occasional glass of a great wine often does that for me.

An E.V. Station in Every Pot

Recently, our state lobbyist updated me on the seemingly simple, nonchalant proposal in Sacramento known as Senate Bill 1482.  No, I am not talking about the late, great “Assembly Bill” 1482 which forced on all of us statewide rent control and tenant protections a couple of years back.  No, this is “Senate Bill” 1482 that would mandate that our building codes in California include requirements to install at least one electronic vehicle charging station at multifamily developments.  While this does not apply to existing multifamily properties, my guess is that outcome will be forthcoming in the future.

PayRent.com