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AB 3088 – The Tenant Relief Act of 2020 – What You Need to Know – Episode 2

AB 3088 – The Tenant Relief Act of 2020 – What You Need to Know – Episode 2

Today in our second installment of my interview with Mike Brennan of the Brennan Law Firm we continue our discussion on the new AB 3088 otherwise known as the Tenant Relief Bill of 2020. What’s in this new bill? A whole list of new provisions such as: 3 Day Notices no longer are valid, tenants can pay as little as 25% of the rent between now and January 31, 2021, and non-paying tenants are broken into two classes depending on when your tenant initially failed to pay rent.

Eviction Process Completely Changed By California Lawmakers

Eviction Process Completely Changed By California Lawmakers

The state of California has just passed AB 3088 also known as The Tenant Relief Act of 2020. As if legislation in recent months has not been confusing enough, this new law only adds to that confusion. You now can evict some tenants, but not others. You can ask for proof of hardship from tenants, but that comes with a pre-qualifier that they be deemed a “high income tenant,” and the real kicker…tenants can pay as little as 25% of their rent due for the coming months.

UPDATE: Rental Rates Drop 11% in Parts of LA County!

UPDATE: Rental Rates Drop 11% in Parts of LA County!

In our 2nd segment of our interview with CoStar Group we discuss the sudden fall in asking rental rates, why landlords are starting to offer concessions (i.e. free rent) for the first time since 2010, and where tenants are migrating since the pandemic. Should one of your units become vacant in the coming days, strategy is key to obtaining the most aggressive rent possible, while at the same time being cautious not to give the unit away as you will have to tackle rent control restrictions going forward.

What Direction is Multi-Family Headed?

What Direction is Multi-Family Headed?

If you had to guess, what direction is our Multi-Family market headed? Are you Optimistic or Pessimistic about what the future holds for Landlords in CA? Today we answer the question of, what is exactly happening right now in the Multi-Family market, with real life facts and stats. No opinions! No emotions! With us today on The Apartment Dealer Show we have Steve Basham, Managing Analyst with the CoStar Group. CoStar is the leading authority when it comes to market analytics in the nation as they track 5,100,000 data points, and 6,000,000 properties on a daily basis. 

The Real Life Pursuit of Cash-Flow

The Real Life Pursuit of Cash-Flow

In a rent-controlled world, how do you collect above-market rental rates when the government has determined how much your rental increase should be? The truth is, you can’t…unless you vacate a unit legally by completing “substantial improvements.”

How do you determine if a rental unit warrants substantial improvement? Through the process of my own personal rehab project I will answer that very question, and have video catalogued the whole process for you.

In this Week’s Video, we review the progress of my most recent rehab project which is 2 weeks from completion. I walk you through the layout, finish materials, and discuss which options yield the highest rental payouts!

This is the second installment in a 4 part series (WATCH NOW) as I attempt to assist those landlords who avoid extreme renovations because they assume the process is too much hassle, they do not have the “know-how,” fear that the process is too costly, or incorrectly assume the final payout does not justify the capital investment.

What is my goal? Bottom Line – I want to help landlords obtain maximum cash-flow in a rent-controlled market, and accelerate the appreciation of their properties. Why else would we own rentals???

Extensive Apartment Remodel – Layout, Materials, & Timeline! – Part 1

Extensive Apartment Remodel – Layout, Materials, & Timeline! – Part 1

In a rent-controlled world, how do you collect above-market rental rates when there is a Rent Cap in place? The truth is, you can’t…unless you vacate a unit legally by completing “substantial improvements.” How do you determine if a unit warrants substantial improvement? We will discuss that very question over the course of these videos. 

In this Week’s Video, I walk you through the beginning stages of my most recent remodel project. This project started just prior to the Pandemic, and that made the process that much more interesting. 

This is the first installment in a 4 part series (WATCH NOW) as I attempt to assist those owners who avoid extreme renovations because they assume the process is too much hassle, they do not have the “know-how,” fear that the process is too costly, or incorrectly assume the final payout does not justify the capital investment.

What is my goal? Bottom Line – I want to help landlords obtain maximum cash-flow (especially in a rent-controlled market). In my opinion, owning multi-family investments should be extremely financially rewarding, while at the same time not be overly consuming of your time. Second, by completing these types of improvements, when it is time to sell, a buyer will happily over-pay for your property because your rental rates & the condition of the property justifies above-market pricing!!!