The City of Los Angeles Wants YOUR Participation in the Emergency Renter Assistance Subsidy Program

The City of Los Angeles put into place an Emergency Renter Assistance Subsidy (ERAS) program that will directly pay landlords on behalf of their qualified tenants up to $2,000 per month.  Recently, the Los Angeles City Council modified the payment aspect of the program to pay the rental subsidy directly to the tenant IN THE EVENT their landlords opt-out or fail to timely reply to program notifications. 

The City of Los Angeles reports there are landlords that have not responded and have been in “pending” status since as far back as August 2020.  In these instances where a landlord is “pending,” the City of Los Angeles has now been authorized to begin remitting the rental subsidies directly to qualified tenants instead of directly to landlords.  The City suggests that any landlords that have been notified that their tenant has been approved for the program and that they are eligible, should complete the enrollment process as soon as possible. Any landlords that have questions may contact the City of Los Angeles via email at: hcidla.eras@lacity.org. 

Succession Planning For The Independent Rental Owner (IRO): Are You Ready?

Succession planning can be one of the most difficult, yet most important, actions you take as an independent rental owner (IRO). Simply put, succession planning is the act of determining what will happen to your business and wealth after you retire or unexpectedly pass away. It’s not something you want to put off until the last minute — but most people do.

In fact, according to the Business Enterprise Institute, 81% of business owners plan to leave their business in less than 10 years, but only 20% have an exit plan in writing. We should mention: a succession plan doesn’t count unless you get it down in writing. 

In Effort to Drive NOI, Operators Look to Technology

By Paul Bergeron

In the past year, the multifamily industry has turned to technology to overcome the unique obstacles brought on by COVID-19. Many owners and managers had intended to gradually transition into some of these solutions that enhanced efficiency, but then practically overnight, they found themselves having to pivot when nationwide shutdowns were put in place in March.

Pre-COVID-19, many felt they were making great strides toward finding new and better ways to operate their properties. So, they weren’t afraid to dive in headfirst when it came to changing how they operate their offices, conduct tours, or communicate with their teams and residents. We reached out to several real estate executives to find out how they have adapted their operations during the pandemic and how they are using technology to drive net operating income (NOI). Here are are the main takeaways from our conversations:

WHEN: 11:00 A.M. – 12:00 P.M. on Wednesday, December 16th, 2020

COVID-19: Leasing in Tough Times and Difficult Situations

Patti “Widget” returns for an amazing presentation that will help YOU improve your N.O.I., quickly fill your vacancies, and help YOU to succeed during today’s “new normal.”  PLEASE, join us for what will most certainly be an informative online seminar via ZOOM.

Join us for a live discussion of the latest techniques YOU need to fill your vacancies quickly and to succeed.  During the webinar, we will also cover the following:

• The “Leasing Process” from A-to-Z.
• Preparation work you should do to prepare yourself for inquiries.
• Telephone techniques that will get you tour appointments and ultimately close the “deal.”
• Closing skills and strategies YOU can use via phone and email that will get leases finalized. 

• And, so much more.  YOUR questions will help lead the discussion.    

GUEST SPEAKER:  Patti Widget, Property Management Consultant, Widget’s Way

Patti “Widget” has nearly 25 years of experience as a regional property manager.  Patti teaches a wide range of classes on property management topics, she is a keynote speaker on property management and housing issues and has published numerous articles for apartment associations. Patti is a repeat guest speaker at UCLA. She also holds various certifications in the industry related to her field, such as a CA licensed Real Estate Broker, CCRM, lead based paint certified renovator from the EPA, Fair Housing and more.

Presenting Sponsor: MoldZero

Presenting Sponsor: PATH

Title Sponsor: Harder+Company Community Research

Friday, December 4, 2020

GUEST SPEAKER:  Sarah Hoverson, Account Executive, Livable

Based in the San Diego area, Sarah Hoverson has since 2018 been an Account Executive with Livable.  Prior to working at Livable, she was an Account Executive at GRM Information Management Services and had worked as an Inside Sales specialist at both Thomson Reuters and P.R. Newswire.  He holds a bachelor’s degree in Communications and Media Studies from Southwestern University in Georgetown, Texas.

Package Theft is a Major Problem: 1 in 5 Americans Have Reported Being a Victim of Porch Pirates During the Pandemic

Even with thousands of people working from home due to the pandemic, package theft is still a major problem.  According to a recent survey from ValuePenguin.com by LendingTree, 1 in 5 Americans reported being a victim of porch pirates during the pandemic.  This expands on previous reporting from The New York Times, which revealed that an estimated 90,000 packages disappear daily in New York City without explanation, which is up roughly 20 percent from four years ago.

A quote from the New York Times article summarizes the dire situation: “I can’t have my medications delivered here or anything that is essential,’’ she said. “I don’t know what the solution is, but I do know that it’s getting worse.”

Institutional Residential Lease Guarantees Come to California

Institutional residential lease guarantees are new to the California apartment market and, consequently, are not well known or understood. They represent an attractive opportunity for landlords to reduce vacancies, drive renters to their properties, and eliminate all rent loss, at no cost to landlords or their management companies.  Landlords accept the program, renters pay for it.

Developed over twelve years ago by New York based Insurent Agency Corporation, residential lease guarantees are the institutional “mommy and daddy” assisting a broad range of renters in qualifying for their chosen apartment. Young professionals moving to New York (or other major cities) typically do not have incomes sufficient to meet landlords’ credit criteria, generally requiring annual earnings of at least forty times the monthly rent. Alternatively, prospective tenants can use a co-signer (normally parents) with minimum annual incomes at least eighty times the monthly rent.  With rents often very high in major cities like New York, many parents do not qualify.  Other renters experiencing problems include (i) foreign executives relocating to the U.S. who have no U.S. credit history, (ii) the self-employed, (iii) non-employed U.S. and foreign individuals with significant assets, and (iv) both U.S. and international students. 

WHEN: 10:00 A.M. – 12:00 P.M. on Wednesday, December 9th, 2020

ADMISSION:

General Admission: $129

ANP Subscribers – General Admission: $99 ($30 discount using promo code “ANP2020” entered upon checkout)

AAGLA Members: $79 (login to member account required)

Fair Housing Update: Know YOUR Rights and Avoid Costly Mistakes in Today’s Political Climate

Featuring Property Management Expert, Angel Rogers

As housing providers, we must always ensure that our buildings and apartment communities are open and welcoming to people of all types.  As housing providers, we are intertwined with and are committed to the principles set forth in the Fair Housing Act, which is based on the concept that all people should be treated equally.  Join us online for a LIVE for this important webinar and Q&A session with Property Management Training and Education Expert, Angel Rogers, Founder of STAR Training for this Fair Housing Update and learn how the current political climate may have altered fair housing rules and how YOU can avoid making potentially costly mistakes.

PLEASE, join us for what will most certainly be an informative 2-hour online seminar via ZOOM.  Join us for a live discussion of the latest Fair Housing Regulations and how to avoid mistakes that can get you into trouble and become very costly.  During the webinar, we will also cover the following:

Renters fled from the most expensive cities in droves after the coronavirus pandemic began in the spring of 2020, and that trend is likely to continue in 2021. Especially as remote work continues, those who are able to will continue to leave major cities in search of more square footage, private outdoor spaces, less density and greater affordability.

But that’s not the whole story.

WHEN: 11:00 A.M. – 12:00 P.M. on Friday, December 4th, 2020

How to Maximize Enterprise-Level Utility Billing Tools for Independent Rental Property Owners

SAVE MONEY!  Join us on Thursday, December 4, 2020 at 11:00 a.m. as we connect with Livable, the smart utility company.  Whether you’re a multifamily property owner or manager, Livable can help you to save money and conserve water and reduce your utility expenses by legally allocating and passing-through YOUR utility and waste hauling costs to YOUR tenants, which then encourages YOUR tenants to conserve.

Livable, the smart utility company, provides a suite of cloud services designed to reduce consumption while adding to your bottom line.  Join us as we learn about the latest ways to maximize online tools and enterprise level billing systems that will save YOU money and reduce YOUR utility costs.

Livable is the cutting-edge Utility Management Platform for both residential and commercial property owners and put cost savings at the forefront of what they do. Whether YOU operate 2, or 2,000 units, Livable’s goal is to provide YOU with a simple way to recover utility costs, increase the value of YOUR investment, and build community around conservation.

During this webinar, Livable’s smart utility conservation experts will share information on how you can legally save money, rent control or no rent control, and conserve utilities. Topics will include:

• What do “Ratio Utility Billing Services” mean?  What does R.U.B.S. stand for?
• What Enterprise-Level Utility Billing Tools exist and how can they help YOU?
• How YOU can recover costs YOU currently pay from your tenants.  Where do YOU start?
• How can YOU legally deploy RUBS, step-by-step, under varying regulatory environments, including under rent control?
• How much money can you save with RUBS?  Is RUBS fair?
• The latest technology tools and cloud services that can help YOU reduce utility consumption.
• And, much, much more.  Q&A to follow.

Livable is the smart utility billing company that has created products designed to save YOU money, as well as save the environment by encouraging conservation.  By using Livable’s Ratio Utility Billing System, or “RUBS,” you can easily allocate your property’s utility bills such as water, electricity, waste removal and others and charge these costs to your tenants.

If YOU have master-metered utilities such as water or un-metered utilities such as waste hauling, by using Livable’s RUBS technology, YOU can allocate these bills and charge your tenants for their fair share.  The best thing about Livable’s technology, it is all perfectly legal to use in California.

GUEST SPEAKER:  Sarah Hoverson, Account Executive, Livable

Based in the San Diego area, Sarah Hoverson has since 2018 been an Account Executive with Livable.  Prior to working at Livable, she was an Account Executive at GRM Information Management Services and had worked as an Inside Sales specialist at both Thomson Reuters and P.R. Newswire.  He holds a bachelor’s degree in Communications and Media Studies from Southwestern University in Georgetown, Texas.

Feature Sponsor: Livable, Inc.