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
Read More ...California Landlord’s Guide to Raising Rent
Raising rent isn’t an easy task for landlords because it requires a combination of effective business skills, cordial relations with the tenants, marketing research to evaluate the current, true value of your rental unit, and doing the rent increase in full compliance with California Landlord-Tenant laws regarding rent increases. It doesn’t matter if you are
Read More ...Late Rent Fees in California: How Much Can Landlords Charge?
Let’s discuss a few points that are very important to have in a solid rental agreement to avoid “confused” or “forgetful” tenants. Although we would all love to have every tenant pay their rent on the first of the month time after time, we must speak about the elephant in the room. How much can
Read More ...4 Tips for Preventing Tenants from Falling Behind in Rent
One of the most crucial challenges that landlords have to go through each month is the collection of rent. Often tenants fall behind on their rent citing some excuse or another. It is important for a landlord to make sure that his tenants pay their rent on time or lose out on their rental income.
Read More ...Simple Ways to Arrange a Rent Increase in California
Over time there will inevitably be the need to increase the rent that the tenants are paying. No one wants this to happen but it will not be possible to keep it the same year after year and keep paced with other cost of living increases. This rent increase is something that must be written
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