Join Us for the 10th Annual Income Property Management Exposition on May 24th

Written by Apartment Management Magazine on . Posted in Blog

The Wait is Finally Over: Join Your Peers for the “Business of Property Management”

For over a decade, the Income Property Management Expo & Exhibition (IPME) has provided property owners, managers, investors, and real estate professionals with the information they require to succeed in the ever-changing real estate business.  With the increased demand for rental housing, an unprecedented rate of inflation, rising interest rates, and pandemic-driven moratoriums, it’s time to be reinvigorated, get back to work, join together with peers and industry experts, and learn how to navigate the new normal of today’s real estate marketplace. IPME attendees will discover many new strategies and tools property owners and investors require to thrive in this post-pandemic environment.

The Los Angeles Area’s largest, most important annual property management expo is back after a two-year, pandemic-driven hiatus, offering fresh strategies so attendees can get back into the game of making informed real estate decisions.

Written by Apartment Management Magazine on . Posted in Blog, Laws & Regulations, Leases & Legal

SEPTEMBER 3, 2020

Governor Signs Assembly Bill 3088, the “Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020”

Bill Passed by Overwhelming Majority, Bipartisan Vote in Both the Assembly (59-9) and Senate (33-2)

As anticipated, late Monday night, Assembly Bill 3088, the “Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020” was signed into law by Governor Gavin Newsom and takes effect immediately.  The “key” provisions contained in the legislation are described below.

Written by Apartment Management Magazine on . Posted in Blog

In response to the Coronavirus (COVID-19) pandemic, cities throughout California are issuing orders and adopting urgency ordinances establishing temporary eviction moratoriums on evictions due to non-payment of rent for renters impacted by COVID-19.  Some cities are also prohibiting “no-fault” evictions except in limited circumstances.  In addition, some cities are also prohibiting Ellis Act evictions.

The number of cities that have instituted temporary eviction moratoriums continues to expand.  The list provided below is a sampling of the cities, with links to their orders and/or ordinances, that have implemented temporary moratoriums and not inclusive of all the cities that may adopt such moratoriums.  The Apartment Association of Greater Los Angeles is committed to providing updated information throughout the pandemic.

Coronavirus (COVID-19): How Should Landlords Respond?

Written by Apartment Management Magazine on . Posted in Blog, For Landlords, Landlord Tips, safety

Rely on the People Who Know Science.

When coronavirus has been detected in a rental unit, the first and most compelling course of action is to call local public health officials to seek guidance in how to handle it.

Ask the infected tenant to voluntarily place themselves in a hospital facility, or at a bare minimum, self-isolate themselves.  For someone who exhibited symptoms or has tested positive, the most prudent course of action is to admit themselves into a medical facility. We still do not yet know, though, if the health care system can accommodate an influx of patients. In last Sunday’s press conference, New York Governor Andrew Cuomo says a serious concern for his state (and, by extension, California) is that the number of infected people can severely tax the resources of hospitals.  Alternatively, a resident who tests positive for the virus can ideally self-isolate themselves in the rental unit.  Asking someone to sever ties with the rest of the world, of course, is a request that is hard to swallow, but hopefully heeded.  Tenants who are infected should be told that in the interest of transparency, other residents will be notified that someone in the building has tested positive; however, the name of the inflicted tenant shall remain anonymous.

Public Health Advisory – March 24, 2020 Event Postponed

Written by Apartment Management Magazine on . Posted in Blog

As the situation surrounding COVID-19 (coronavirus) continues to evolve, the Apartment Association of Greater Los Angeles and the producer of the Income Property Management Expo & Maintenance Mania has been committed to working closely with the City of Pasadena Public Health Department, Los Angeles County Department of Public Health and we have been monitoring guidance being communicated by the Centers for Disease Control and Prevention.

State public health experts have determined that gatherings should be postponed or canceled across the state until at least the end of March. Non-essential gatherings must be limited to no more than 250 people, while smaller events can proceed only if the organizers can implement social distancing of 6 feet per person. Gatherings of individuals who are at higher risk for severe illness from COVID-19 should be limited to no more than 10 people, while also following social distancing guidelines.

As a result, we are postponing the March 24th Income Property Management Expo until Wednesday, October 7th.  The Expo at that time will again take place at the Pasadena Convention Center. In addition, Maintenance Mania will be cancelled until further notice. Additional information regarding the event will be made available as soon as possible.

New California Rental Housing Laws: AB 1482 Is Only the Beginning…

Written by Apartment Management Magazine on . Posted in Blog

While the rental housing industry in California has been abuzz about the latest rent control and “just cause” eviction law (more on that below), Gov. Newsom has passed five other rental laws. From extended rent increase notices to the mandatory acceptance of Section 8 vouchers, you won’t want to miss these other hot-off-the-press laws.

For Landlords in the Greater Los Angeles Area, All Doors Are Shut for Seeking Rent Relief

Written by Apartment Management Magazine on . Posted in Blog

By David Evans, Multifamily Advisor, KW Commercial

For the past two and a half years, rental housing providers in the Greater Los Angeles Area, from owner-occupied duplexes to 4-unit apartments buildings to the largest apartment communities have seen their rental income squeezed by the lingering effects of eviction moratoriums coupled in some instances by moratoriums on rent increases, which protections have been extended through to another year. Compounding the effects of the eviction moratorium is record high inflation (9.1% as this article is being written) causing the cost of materials and utilities to increase significantly over last year.

While the strong real estate market in 2021 and the first quarter of the current year allowed many owners to refinance existing debt at historically low rates, allowing them to mitigate their mortgage costs or tap into equity to carry them through the long months of COVID-19 as they waited for payments from the state’s Emergency Rental Assistance Program, as of March 31st of this year, the rent assistance program has been closed and no longer taking applications.

Optimism and Anxiety Collide in Apartment Industry

Written by Apartment Management Magazine on . Posted in Blog

Periods of extreme optimism and those mired in a rising-inflation environment are circumstances the multifamily housing industry has dealt with before.

But rare is today’s mood, according to RealPage’s Jay Parsons, “I’ve never seen so much exuberance about the ‘now’ and anxiety about the ‘future’ all at one time.”

Parsons is the property management software firm’s vice president, head of economics and housing. He sat with Daniel Mahoney, managing director, LaSalle Investment Management; and Grant Montgomery, VP of Research, WashREIT; during a panel at National Apartment Association’s Apartmentalize conference recently in San Diego.

Are You Ready for Required Inspections of Balconies and Exterior Elevated Elements?

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California’s Senate Bill 721 (SB721) and Senate Bill 326 (SB326) Mandate Compliance by Statutory Deadlines

By Omid Ghanadiof, EEEAdvisor Engineering

Get ready!  January 1, 2025 is the deadline for compliance with both Senate Bills 721 and 326 for multifamily rental properties and condominiums that contain three or more dwelling units.  Applicable residential property owners and homeowners’ associations (HOAs) throughout California must have inspections of balconies and exterior elevated elements at their properties.  Property owners and manages, and HOAs should seek the help they need before the deadline and become familiar with the inspection criteria to ensure they are in compliance with the so-called “California Balcony Inspection Laws.”

What Must Be Inspected?  Exterior Elevated Elements (EEEs)

These two state laws are designed for buildings that contain three or more dwelling units. Senate Bill 326 is for condominiums, and Senate Bill 721 is for apartment buildings.  The laws emerged following a balcony collapse in the City of Berkeley, which then established a local balcony inspection ordinance, and many of the local ordinance’s provisions have been incorporated into state law.  Accordingly, required inspections must be made to any elevated element structures.  Exterior Elevated Elements are building elements that are constructed of wood, have a walking surface, have any portion sitting 6-feet above the ground, and that extend outside of the four walls of a structure.  Exterior Elevated Elements include balconies, outside decks, porches, exterior stairways, and exterior walkways that have a walking surface that is elevated more than six feet above ground level according to these ordinances.  Required inspection includes waterproofing system supports and railings, and load bearing component.

Conservation Remains Crucial: Improve Lifestyle & Cost-Effectiveness of Your Property

Written by Apartment Management Magazine on . Posted in Blog

With dire weather events such as the current California drought, it’s as crucial as ever to reinforce conservation practices as a property owner or manager. Water and energy conservation efforts will protect community lifestyle and, equally as important, allow you to increase the net operating income (NOI) of your property. Across the country, property owners are seeking solutions for revenue generation since the usual tactics – like raising rent – aren’t always possible.

A great – and obvious – way to increase your NOI is by focusing on reducing consumption, thereby reducing expenses. With a utility-centered approach, you can increase your property’s income and help the planet. The approach is simple: cut costs by cutting back utility use. Here’s how a focus on conservation education can positively impact your expenses, lifestyle, and the environment.

“Ask Kari!”

Written by Apartment Management Magazine on . Posted in Blog

I’m Talking Trash and More!  Government Continually Antagonizes “Us” by Charging Higher Fees and Providing Subpar Services!

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

Dear Kari: Sometimes I feel as though our local government has something against property owners and continues antagonizing us through our trash companies – what do you think?

Well, I can see why you think that the “powers that be” are trying to screw us over – it is because they are.  Only cruel people would kick someone when they are down, and our government is kicking us as hard as they can in the ribs while we are literally begging for help while being down on the ground. 

Optimize Your Leasing Operations With These Data-Backed Solutions

Written by Apartment Management Magazine on . Posted in Blog

By Marc Frenkiel

In a previous article, we pointed to data showing that despite leasing agents’ desire to grow their careers, many are not seeing opportunities to do so at their current place of employment. For leadership, this presents an opportunity to show leasing agents — often in the entry level of their careers —  how to grow their careers and prepare them for leadership roles. In the meantime, your leasing staff still has an important job to do, and it’s one that data shows can be optimized in numerous ways. So while you are showing your leasing agents how they can gain valuable skills that will prepare them for a successful career, it’s important to consider optimizing the lead-to-lease process so that they can perform at the top of their game.

Changing the Home Sharing Public Policy Landscape

Written by Apartment Management Magazine on . Posted in Blog

Short-term rentals (STRs) that are facilitated by online platforms like Airbnb have been the subject of intense debate across the U.S.  Local governments around the globe, including several cities in the U.S., have responded quite differently towards regulating STRs. Most cities have not significantly regulated these platforms, but a limited number of cities have recently put severe restrictions in place.   

The truth of the matter is that opposition to multifamily home sharing runs smack up against powerful demographic trends and market demand. And while the pandemic has been an inflection point, change was already taking place in the multifamily sector. Studies indicate that this “living as a service” model has already proliferated multifamily properties nationwide, albeit “under the radar.”

A Three-Phase Guide to Implementing Utility Billing

Written by Apartment Management Magazine on . Posted in Blog

Contributed by the Team at LIVABLE

Billing residents for water and other utilities has benefits! Property owners can offset their expenses while encouraging conservation. Here are some of the things you need to be aware of when it comes to billing your tenants for utilities.

Great news! If you’ve decided to start billing your tenants for their utility use, you’re not only making them financially accountable for their utility use, you’re also making them environmentally accountable.  Public concern about global warming exceeds 50% among most demographic subgroups of Americans, according to Gallup. People are growing increasingly concerned about the environment, and increasingly interested in ways that they can help. In a 2021 Mastercard survey, 85% of people said that they were willing to take personal action to combat environmental and sustainability challenges. Scaling back water and energy use is great for the environment, but it’s not easy to get people motivated to do that.

Be Prepared: Maintenance of Fire and Life Safety Systems Starts with the Property Management Team

Written by Apartment Management Magazine on . Posted in Blog

Here’s a checklist for keeping your fire and life safety systems ready in the event of a disaster.

By Steve Goyette, Vice President, Telgian Fire Safety Services

Fire and life safety for small apartment buildings includes a wide variety of measures, many of which are more than capably handled by on-site management personnel.  Here are some general categories to consider, along with specific actions that can improve preparedness in the event of an emergency.

4 Ways to Strengthen Vendor Relationships

Written by Apartment Management Magazine on . Posted in Blog

By Brittany Benz

Having solid relationships with your residents and owners is key to your success as a property manager, but did you know it is also critical when it comes to your vendors?

When you think of vendors, your relationship might not be the first thing that comes to mind, but it should be. Why? Because having vendors who respond promptly and resolve maintenance problems efficiently will ensure happy renters and owners.