Experienced landlords know they need to screen applicants in terms of their ability to pay rent on a timely basis, and know they are not allowing someone onto their property with a criminal background that could potentially impact other tenants. California Law places certain limitations on the fees that can be charged prospective tenants to
Read More ...Should Landlords Include Utilities in the Tenant’s Rental Price?
Landlords basically have three options in terms of how to set up and/or bill clients for utilities. One is to build the utility costs into the rent so it is all inclusive single price for the tenant which the landlord manages. The second is to have a set rent fee and an added-on utility cost
Read More ...Should Landlords Receive Rent Online with Credit Cards?
People pay with most things these days with credit cards, so why not pay rent this way too? The primary reasons people want to pay rent with a credit card is to get bonus cash back points. This is particularly true with new credit cards that have big sign-up bonuses if certain levels are met
Read More ...Zero Tolerance Late Rent Policy in California
Almost all independent rental owners try to work with a tenant that it slow to pay or gets behind in the rent. Don’t get me wrong, I totally understand why. Its costly to flip a unit to rent ready condition, vacant units is expensive and the legal fees to complete an Unlawful Detainer action can
Read More ...What is California Assembly Bill 1482 & How Does it Impact Landlords?
California Assembly Bill 1482 which takes effect January 2020 places a limit on how much rent can be increased in a year and places certain restrictions on tenant evictions. Rent is limited to a 5% annual increase plus inflation, with the combined total not exceeding 10% a year. The Bill also requires a landlord to
Read More ...Los Angeles Landlords Cost Recovery and Rent Adjustment Programs
Los Angeles has six programs administered by the housing authority HCIDLA that enables landlords to recover the cost of improvements to the property from their tenants. When approved by HCIDLA, these temporary rent surcharges and permanent increases can be applied to a tenant’s rent are in addition to and above the rent increases normally allowable
Read More ...LARSO: What Rent Increases May Be Made?
Before a Los Angeles landlord can raise rent on an annual basis under the Los Angeles Rent Stabilization Ordinance or LARSO the landlord must serve at least a 30-day Notice of the change of terms of tenancy. Generally, under the 2018 LARSO published guidelines the landlord may increase the rent by three percent (3%) to
Read More ...How to Prorate Rent
To determine how to prorate rent, courts uses a 30 day month no matter how many days are in the month so always calculate based on a 30 day month. For this example of how to prorate rent, we will use the rent rate of $1000.00 per month.
Read More ...6 Ways To Increase Rent Without Losing the Tenant
Believe it or not, raising the rent is an art, just like a majority of other aspects of property management. One needs to consider a number of issues prior to raising the rent and unfortunately most of them are human elements. For example, there is always the fear of losing the tenant or causing a
Read More ...Learn How to Price Your Rental Correctly
Correctly pricing your rental unit can be crucial in attracting tenants. However, It is difficult to decide the accurate amount because of the natural urge to make as much income as possible. However, the trick is to create a fair balance so that the asked for rent doesn’t seem too high than the current market
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