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. 

By Daniel Yukelson

Will it be a rough road ahead?  Perhaps, but let’s hope not. Let’s all band together and support the opposition and fight against the ballot initiative that could pose devastating, long lasting impacts on those of us in the rental housing business in California.

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.

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.

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

• Dear Kari, for someone like me who self manages a rental property, what tasks should I be doing throughout each year to ensure my building is being property maintained and to avoid costly repairs?

Owning or managing a rental property requires meticulous attention to detail and a proactive approach to maintenance. Neglecting routine tasks can lead to costly repairs and compromises the safety and satisfaction of tenants. To ensure your property remains in top-notch condition throughout the year, I’ve compiled a comprehensive maintenance checklist spanning each month as well as ongoing tasks you need to keep doing. Whether you’re a property owner, manager, or landlord, this guide will help you stay on top of crucial tasks, ensuring a well-maintained, secure, and aesthetically pleasing environment for both you and your tenants.

By Jerry L’Ecuyer & Frank Alvarez

Dear Maintenance Men:
I have floating vinyl tile flooring in my rental unit.  One of the tiles in the middle of the floor has been damaged.  How do I go about replacing one tile without damaging the surrounding tiles?
Bryan

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. 

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.

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.

BY: TIM CAMPBELL

Before getting into the meat of this column, I want to make it very clear I have immense respect for academia and the legal profession.  Both disciplines have expanded the breadth of our knowledge and humanity. But like any other profession, they can be bent to meet goals antithetical to their principles.