Author Archive

Essential Workers: Landlords Are Heroes Too!

Written by Apartment Management Magazine on . Posted in Blog

By Irma Vargas, RST & Associates

It’s Christmas morning and my phone rings,  I pick up the phone and it’s a tenant telling me: “I went to use my stove and it does not work.  Can you have it fixed today?”

This is just one of the many calls that landlords receive almost daily, and due to COVID-19, since March 2020, the number of these calls have only increased.  Here are just a few samples (Note: any expletives were removed so not to offend anyone reading this article):

Changes We Might Expect Once the Eviction Moratorium Ends

Written by Apartment Management Magazine on . Posted in Blog

By Ari Chazanas, Founder and Chief Executive Officer, Lotus West Properties

During the Coronavirus Pandemic, we have been faced with numerous challenges. One of them is the eviction moratoriums, which is legal authorization for indebted commercial and residential renters to postpone their rent payments to landlords. Tenants may wish to extend the eviction moratorium and landlords wish that it may soon end.

At this time, we anticipate that the eviction moratoriums may be extended long before being repealed; With the original due date for the State of California’s eviction moratorium having expired on January 31st only to then be extended to June 30th, one might expect that this latest expiration date to again be extended by May or June.  Many renters and landlords must now anticipate their next action steps with the latest expiration date on the horizon. The Coronavirus has certainly changed the landscape of evictions and rent collections. Even online unlawful detainer and other court hearings may become commonplace.

Dear Maintenance Men:

Written by Apartment Management Magazine on . Posted in Blog

By Jerry L’Ecuyer & Frank Alvarez

Dear Maintenance Men:
I am starting my planning for a major kitchen cabinet remodeling project in my rental units.  However, I am having a difficult time making material and design decisions.  What recommendations can you give?
Allen. 

Dear Allen,
When doing a kitchen or bath material selection, cohesive and functional design is important.  Kitchen and bath rehabs are some of the most expensive work you can do in an apartment unit and proper planning is a must.  In order to appeal to a larger segment of the population, try to keep the interior color scheme to neutral earth tones.  Cabinetry quality varies greatly.  Don’t let the cabinet fronts fool you.  Manufactures designed their cabinets to look good at first glance.  Keep in mind, being in a rental environment, the cabinets also need to hold up to abuse. Look at the actual construction of the cabinet box or frame.  Keep in mind; you do not need to use custom cabinets to fit your existing layout.  The use of prefabricated modular cabinetry can greatly reduce the time and cost to have a finished kitchen or bathroom.  Using real wood cabinet fronts with 3/8” plywood sides is essential for durability. The drawer fronts and sides should be connected with a dovetail or other positive lock construction.  Drawers that are held together by nails or cabinets built with particle board will not hold up to tenant abuse. 

On a side note;  if you are gutting the kitchen or bathroom, use this time to relocate and add more electrical outlets and under cabinet lighting. 

South Pasadena | City to Make Permanent Eviction Ban for Unpermitted Renovation

Written by Apartment Management Magazine on . Posted in Blog

By Ben Tansey

South Pasadena’s moratorium on evictions triggered by unpermitted renovation work will has been extended through mid-January, when the City Council will adopt an ordinance making the prohibition permanent. At its last meeting of 2020, the Council unanimously approved the extension despite considerable disagreement in the community over whether existing state law (AB 1482) already offers tenants such protection.

The Council also decided to give staff and the Planning Commission a couple more months to craft an ordinance setting relocation assistance payments to tenants in good standing who are evicted for so-called “substantial remodels.”

Market Insights and Opportunities: COVID’s Impact on the Rental Market

Written by Apartment Management Magazine on . Posted in Blog, Webinar

WHEN: 11:00 A.M. – 12:00 P.M. on Tuesday, March 9, 2021

As we all know, the current COVID-19 crisis has dramatically changed our industry and the way we approach property management during these very challenging times. Real Estate and Property Management expert, Elizabeth Reynolds, will be sharing tips and information to assist all rental property owners on how to best navigate through the current “choppy waters” of rental property ownership.

Elizabeth Reynolds is President of Reynolds Realty Advisors. Join us to hear Ms. Reynolds’ expert property management advice that is certain to get YOU through the current pandemic crisis successfully. During this webinar, we will discuss:

  • Real estate market update and the effects of COVID-19 on the market opportunities.
  • Tenants’ rights during and post-COVID-19
  • Options for Landlords regarding rent collections, regaining possession, and evictions.
  • Property management options which will serve YOU best now and in the future.
  • What strategies are property managers deploying today during COVID-19 to ensure current and future success?
  • COVID-19 checklist for rental housing providers.
  • And, much, much more…

Featured Presenter:

Title Sponsor:

Accessory Dwelling Units: The “ABC’s” of ADUs; Everything You Ever Wanted to Know About ADU’s

Written by Apartment Management Magazine on . Posted in Blog, Webinar

WHEN: 11:00 A.M. – 12:00 P.M. on Thursday, March 11, 2021

Accessory Dwelling Units or “ADUs” are a great way to increase rental income and improve you “N.O.I.” If YOU are interested in learning about all the new California laws encouraging the construction of ADUs, this is the webinar for you! Today’s regulations and rent control laws, and potential property tax increases already make owning and managing rental property challenging irrespective of a global pandemic. Well, help is on the way. Let us help put your mind at ease this March 11th at 11:00 a.m. when we teach you how you may be able to drastically increase your rental income by taking advantage of the NEW California laws that allow YOU to add more rental units to your property and boost your income.

As of January 1, 2020, a new state allows multifamily property owners to add up to three or more rental units at their property…that’s right – state law allows you to increase the number of rental units you own with very few restrictions. Under the new “ADU Law,” owners may add two new rental units regardless of square footage or number of units currently at the property and without any issue of local restrictions. Additionally, YOU may add 25% more rental units on top of that based upon YOUR existing square footage. Planned discussion topics Include:

  • Learn how YOU can construct an ADU at your property to increase your multifamily rental income today, RIGHT NOW!
  • How to convert recreational, laundry and storage rooms into Accessory Dwelling Units that you can generate rental income for.
  • Learn how to convert garages into Accessory Dwelling Units – generate some real gold and substantially increase YOUR rental income.
  • Learn how YOU can eliminate parking at YOUR building with no additional parking requirements so long as your property is located within one-half mile of mass-transit, and how YOU can add even more Accessory Dwelling Units.
  • Find out how you can generate increased N.O.I. by adding ADUs at YOUR property.
  • Learn the “step-by-step” process on how YOU can make this ADU opportunity best work for YOU.
  • Find out about the latest technology in use today to construct ADUs, including 3-D printer technology.
  • And much, much more – your questions submitted prior to and during the webinar will drive the discussion.

Featured Presenter:

Title Sponsor:

Freedom-RIP

Written by Apartment Management Magazine on . Posted in Blog

2020 may be remembered as the year many of the freedoms we had, or thought we had, died or were mortally wounded. It was the year we became subject to arbitrary government decree without recourse.

Time magazine missed the mark by not naming The Government Bureaucrat, Person of the Year.

Naturally, property rights are the subject of primary interest to the readers of this publication. Tenants without any showing of hardship have been allowed to remain in their units with little to no payment of rent.

Understanding the potential advantages of the 200% Rule in a 1031 exchange

Written by Apartment Management Magazine on . Posted in Blog

By Dwight Kay, Founder & CEO; Betty Friant, Senior Vice President and The Kay Properties Team

“Is that your final answer?” You may recognize the question made famous by the popular TV game show Who Wants to Be a Millionaire? Choosing the right answer in this game gives you a shot at winning big money, while the wrong answer leaves you with nothing. Investors conducting a 1031 Exchange face a similar make or break decision when it comes to identifying suitable replacement properties.

The right choices can help streamline a smooth and successful execution of a 1031 Exchange. Choosing wrong with properties that may not be viable or deals that are unable to close within the 180-day time period can derail the entire 1031 Exchange. The good news is that investors do get to identify more than one replacement property. However, just like the gameshow, once that 45-day deadline hits for identifying replacement options, those answers are final. Making the most of that short list is one reason that the 200% Rule is a popular choice for many investors. The 200% Rule allows an investor to identify the largest number of replacement options with four or more properties or Delaware Statutory Trust (DST) replacement investments.

Net Leased Properties

Written by Apartment Management Magazine on . Posted in Blog

By Christopher Miller, MBA

What Net Leased Properties Are

Net leased properties get their names from how expenses are treated; rent is paid to the landlord “net” (tenant pays) certain expenses.  In any kind of net lease, the tenant will generally pay all operating expenses, such as electricity, gas, and water.  Property taxes and insurance are also the tenant’s responsibility in a “double net,” or NN, lease.  A “triple net,” or NNN, lease will pass all responsibilities and expenses to the tenant – even maintenance of the building.  The net leased properties that I come across – with long-term leases and credit tenants – will typically have either double net or triple net leases, so that’s what this article will focus on.

Emotional Support Animals: What Landlords Need To Know

Written by Apartment Management Magazine on . Posted in Blog

Ever hear the one about the emotional support peacock that wasn’t allowed on a plane? If it sounds like a setup to a bad joke, it’s actually a real story that made national news.

You’ve probably heard of emotional support animals (ESAs), but you might not know that they aren’t just dogs and cats. They can be ferrets, fish, pigs, peacocks — almost anything a qualifying owner wants.

So, what are they really? Who qualifies for one, and what are the owner’s rights? The answers to these questions are important. If the animal is why you turn away a rental applicant, you could be charged with housing discrimination. Here’s what landlords need to know about emotional support animals. 

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