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Rent Control Often Hurts Not Helps
Rent Control Often Hurts Not Helps The housing crisis in California continues to spiral out of control with little to no real effort being made to address the problem using practical, effective solutions. Neglect, poor planning, and a lack of important services for the homeless are only exacerbating these issues. Another significant contributor to the problem can be found in the rent control ordinances that have been slowly implemented throughout the state of California since the late 1970's....
The Status of Rent Increases in California
The Status of Rent Increases in California Landlords and property owners who had a difficult time navigating through the pandemic and the rent moratoriums imposed upon them for the past two years may finally be getting some relief as rent increases are now allowed to proceed once again under multiple state and local laws of California. That increase may be as high as 10% beginning this Fall, the maximum allowed by law. That number can vary from one city to the next as the cap is set at 5% plus...
Dealing with Problem Tenants
Dealing with Problem Tenants That unavoidable rite of passage for every property owner in this business: The problem tenant. You try to do everything you possibly can to avoid having issues with your tenants but no matter how many precautions you take or accommodations you make, you ultimately face some problem with at least one or two over the course of your experience as a property owner. How you deal with that problem (and any others that may arise) can have a significant impact on your...
Effective Methods for Individual Property Owners to Manage Multiple Properties with Ease
Effective Methods for Individual Property Owners to Manage Multiple Properties with Ease Managing all those properties, whether they're buildings with multiple units or standalone single-family homes, doesn't have to be an insurmountable task. There are actions that individual property owners can take right now to reduce the stress and difficulty that comes with doing it all by yourself. Organization and careful preparation are two of the cornerstones to success when you are just one owner...
Renting vs Owning: The Pros and Cons
Renting vs Owning: The Pros and Cons Tenants come and go, that's a fact of the rental property business. As a landlord it's your job to do everything you can to ensure that your tenants remain in your units for as long as possible, otherwise you're not generating any revenue. One of the reasons that many tenants decide to leave a rental property is because they have decided to buy a home. It's a dream that many of us aspire towards and shifts in the housing market can make that dream a reality...
The Path To Exceptional Property Management
Forbes Article: https://www.forbes.com/sites/forbesbusinesscouncil/2022/01/21/the-path-to-exceptional-property-management/?sh=23428d277db1 BY ARI CHAZANAS Jan 21, 2022,09:00am EST There has never been a more challenging time to attract and retain good tenants, so it makes sense to re-evaluate the way we do things in order to avoid the dreaded “business as usual” complacency that can hinder progress in this industry. Overall, a changing marketplace demands a requisite response to keep both...
15 Simple Ways To Tie A Social Mission To Your E-Commerce Business
Forbes Article: 15 Simple Ways To Tie A Social Mission To Your E-Commerce Business (forbes.com) Today's customers want the companies they buy from to make a difference in the world. Tying social causes into business goals has become an increasingly common practice, especially as the events of the past two years have unfolded. E-commerce businesses, especially smaller or newer ones, may be unsure of where to start when it comes to integrating social causes into their daily operations....
How to Scale Down Turnaround Time on Vacancies
Vacancies are never a good thing because it means you are not generating income on your property. If a tenant has decided to vacate the premises, and hopefully given you adequate advance notice, your top priority is finding a new renter as quickly as possible. That means taking a proactive approach to preparing the unit, marketing your property, and identifying the next tenant in a short period of time. The longer your property remains vacant, the more it can impact your bottom line over the...
Even in a hot market, L.A. won’t allow rent hikes for most tenants until 2023
LA Times Article: https://www.latimes.com/homeless-housing/story/2022-01-03/even-in-hot-market-most-l-a-tenants-wont-face-rent-increases-for-at-least-another-year BY LIAM DILLONSTAFF WRITER JAN. 3, 2022 5 AM PT After seven months of a global pandemic spent in a cramped one-bedroom apartment, Jacob Guardado and his roommate decided to make a move. They found a Studio City two-bedroom in October 2020 for $1,975 a month — a few hundred dollars more than what they had been paying. When the lease...
How Eliminating 1031 Exchanges Could Affect Property Owners And Tenants
Ari Chazanas Forbes Councils Member Forbes Business Council COUNCIL POST| Membership (Fee-Based) Small Business Forbes Article: https://www.forbes.com/sites/forbesbusinesscouncil/2021/12/28/how-eliminating-1031-exchanges-could-affect-property-owners-and-tenants/?utm_content=192661657&utm_medium=social&utm_source=linkedin&hss_channel=lcp-27064223&sh=614baf32516a Ari Chazanas is the Founder and CEO of Lotus West Properties, a property management and investment firm based in West Los Angeles....