Putting local governments on notice about taxation

Written by Apartment Management Magazine on . Posted in Blog

This November, Californians will have the opportunity to vote on numerous state and local ballot measures in addition to candidates for public office. The ballot measures include local tax measures seeking approval of various parcel tax hikes, sales tax increases and dozens of other local levies. But some of those taxes, even if passed, may not stick.

Under Proposition 13, enacted in 1978, local special taxes require a two-thirds vote of the local electorate. For 40 years, the two-thirds vote requirement was settled law under the clear language of the state constitution.

The Income Property Management Expo (IPME) Returns to the Pasadena Convention Center, Tuesday, October 18th!

Written by Apartment Management Magazine on . Posted in Blog

Join With 100’s of Vendors Servicing the Rental Housing Industry, Network With 1,000’s of Housing Providers, and Listen to Dozens of Speakers on Property Management, Regulations and Evictions – ALL 100% FREE!

The Income Property Management Expo (IPME) provides property owners, managers, real estate investors, and real estate professionals with the information they need to succeed in the ever-changing real estate market. With growing demand for rental housing, an unprecedented rate of inflation, rising interest rates, and pandemic-driven regulatory issues, now more than ever is the time to gather with peers and obtain the professional advice and strategies you need to succeed – all for free.  With pandemic-related restrictions nearly behind us, it’s time to get together in person, become reinvigorated, get back to work; and learn how to navigate a new real estate market and regulatory landscape.

How Los Angeles Landlords Can Navigate the Continued Eviction Moratoriums

Written by Apartment Management Magazine on . Posted in Blog

By Ari Chazanas, Lotus West Properties

As with many industries and businesses, the pandemic has proven incredibly difficult for landlords and property managers who make their income from rent payments. But as tenants have been unable to pay, landlords have been forced to dip into their savings and other “rainy day” emergency resources to survive.

I’ve shared my insights on the difficulties that landlords and property managers would encounter because of the city and state mandates. Beyond the impact on property owners’ finances, the buildings they own have suffered because there’s little money left over for making necessary repairs and renovations. These reductions in expenses extended to staff layoffs and deferments on mortgage payments and other financial responsibilities. Additional fees were incurred on late payments for expenses such as utilities and insurance premiums.

Are Landlord References from Tenants the New Thing?

Written by Apartment Management Magazine on . Posted in Blog

By Nicole Seidner

The internet delivered another of its famous surprises this month when one Australian comedian and renter decided to ‘clap back.’ Tom Cashman applied for an apartment and was approved, however, when he asked the real estate agent for the landlord to give him a reference from the previous tenant, that’s where things got dicey. There may be a new trend of applicants asking landlords for references coming around the corner, and heads up: there’s absolutely a right way and a wrong way to handle it.

References as a Standard

People ask for references all the time. Employers ask for them, landlords ask for them, and in a viral video with 2.4 million views, Tom Cashman asked for this as well. After being approved for the apartment, he asked the agent for something he hadn’t ever done before.  “Would the owner provide a landlord reference from a previous tenant?”  He stated in an email.  Tom Cashman continued in the video that it “it occurred to him he’d never done it before,” and encouraged viewers to start doing the same. With 330.4K likes and 2,185 comments at the time of writing, most of his viewers agree.  “They asked me for three references to see if I’m a good guy,” Cashman pointed out. “What about them? Are you a good guy? Are you going to fix stuff? Are you going to reply to my e-mails?”

RED ALERT: CALL GOVERNOR NEWSOM TODAY!  ASK FOR VETOS ON SB 679 AND SB 1477!

Written by Apartment Management Magazine on . Posted in Blog

SAY NO TO MORE TAXES AND NO TO RESTRICTIONS ON RENT COLLECTIONS!

TELL GOVERNOR NEWSOM TO VETO S.B. 679 AND S.B. 1477 TODAY!  PLEASE DO YOU PART, AND STOP THESE DESTRUCTIVE BILLS FROM BECOMING THE LAW!

Governor Newsom’s Legislative Unit or email his Legislative Director today…don’t delay:

  • Phone: (916) 445-4341 and ask for Christy Bouma OR Ronda Paschal (if she’s not available, just make your request to veto S.B.’s 679 and 1477)
  • Email: Christy.bouma@gov.ca.gov and Ronda.paschal@gov.ca.gov

Voice Your Opposition Immediately!

Request Governor Newsom’s Veto on BOTH S.B.’s 679 and 1477.

Real Estate License For Property Management? (Laws By State)

Written by Apartment Management Magazine on . Posted in Blog

Licensure is an complicated issue in property management and real estate. Requirements change from state to state, and reciprocity laws make multi-state management even trickier. Regardless of where you live, it never hurts to get a real estate license and property management license (even if your state doesn’t require one or the other). A real estate license for property management enhances your resume, expands your knowledge of the industry and increases your earning potential.

First, this article covers the benefits of a real estate license for property managers. Then we’ll look at licensing requirements and reciprocity laws in each state.

1. Enhance your resume

Education looks good on a resume. In a competitive job market (or any job market), you want to be able to show your future owner(s) that you’re the most qualified for the job. You understand industry terminology, sales techniques, applicable laws and regulations, etc.

A real estate license for property management isn’t that difficult to obtain, but it does take a bit of time and dedication. In California, a state that requires licensure, you’re looking at about 15-16 weeks to complete a semester of coursework. Plan for about three hours of work per week.

Roofing 101 Series: Is Your Roof Rain Ready?

Written by Apartment Management Magazine on . Posted in Blog

Inspections and Maintenance Are Key

Authored by Steve Pinkus, Owner of Royal Roofing Company

Preventative maintenance is always better than waiting for a problem to arise and having to fix it in a panic. If you ignore the “check engine”  light in your car for too long, you could end up stranded on the side of the road. If you do the same to your roof, you could be awake at 2:00am during a storm begging for an emergency leak repair. Even after the clouds pass, you’ll be left with property damage, angry tenants, and a big bill from your roofer.

Contrary to popular belief, water is NOT the #1  cause of roof damage. Extreme weather is a culprit, but the sun does far more roof damage in the long run. In the summer months, the impacts of extreme heat and UV rays make your roof vulnerable before moisture becomes a problem.  Similarly, fallen leaves and debris from a lack of regular maintenance can compromise the integrity of your roof.

“Ask Kari!” Light-Up Your Pocketbook – Rent Vacancies Faster!

Written by Apartment Management Magazine on . Posted in Blog

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

Dear Kari: Sometimes I find myself struggling to “turn-over” my vacant units quickly and I’m always worried about choosing the items as décor is always changing – what do you suggest I do?

Marketing and turning over a vacant apartment unit takes time and money, so it is essential that you take into consideration the first impression your available unit gives-off to prospective applicants. Keep in mind that lighting is so important in every home, and as home providers, we can reduce the time our apartments sit vacant by doing it right.  It is amazing how much some fresh paint and a few updated fixtures can do for the lighting in an apartment.  The darker an apartment, then the lighter the paint and the brighter the bulbs should be.  If you are worried about the décor shift your focus to the proper lighting first and then look at some newer buildings and use them as a guide to buy what you need and be competitive.

The Next Frontier in Property Technology (PropTech) is the Workforce Housing Sector

Written by Apartment Management Magazine on . Posted in Blog

Article Contributed by Arize

Smart technology is the blueprint for the future of multifamily communities. You can visit luxury high-rises and see all the latest products that make life easier, but that technology is now finding its way into Class B and Class C properties too. As devices and software become more common place, more owners, operators, and residents are seeking out the latest property technology and its benefits as they look for more energy-saving solutions and security monitoring systems.

Technology companies are finding new revenue beyond just their most affluent customers, and investors and venture capital firms want to get involved. In 2021, venture-backed companies in the real estate and property technology sectors raised $21 billion from investors, according to Crunchbase data.

Emergency Preparedness Tips for Property Managers

Written by Apartment Management Magazine on . Posted in Blog

Managing rental properties is no easy task. Besides the financial responsibilities and legal due diligence required of property managers, the role comes with enormous responsibility for the safety of building occupants. An uptick in natural disasters, severe weather, and the effects of climate change has made building safety more critical than ever. In fact, the number of disasters has increased by a factor of five over the past 50 years. Read on to get the emergency preparedness tips you need to keep your residents safe and properties secure.

Formulate a comprehensive emergency plan 

Whether you manage single-family rental homes or multifamily apartment complexes, preparedness is a team effort. Every employee — from your maintenance technician to your leasing agent — plays a role in your emergency plan. Do your best to instill that mindset in training your team, and you’ll have a better outcome should your property experience an emergency.