Results for ‘Property Management’ category

Why you can’t just compare LA and Santa Monica cap rates

Spent some time over the past few days looking at properties in Santa Monica and West Los Angeles for investors. As I looked at buildings in both places, I started to realize that you can’t really compare them easily. Why? Theoretically, you should be able to. After all, a cap rate is a cap rate,

The $100,000 eviction

I got a call from a regular reader the other day about his building in Los Angeles. I’m going to share his story and I hope he won’t mind. This guy has several great, normal tenants and one low-paying, rent controlled tenant who has a kid with pretentions to gang-bangerness. The kid has done all

How one little equation perpetuates slum conditions

Dave C commented on yesterday’s post asking, in effect, what can be done about a rent control building which is deteriorating. The short answer is: nothing. The reason is one little equation. If you’re the owner of a rent-controlled building with below-market tenants in Los Angeles, your tenants are never leaving. You can’t raise the

Single family homes and rent control

Have been seeing a lot of searches coming through from owners of single family homes currently being used as rentals in Los Angeles. Want to clear up some confusion: If you own a single family home on its own lot, your property is not covered by the Los Angeles Rent Stabilization Ordinance (rent control). That

Ways into the apartment business

I met with a reader of this blog last week (hi Christina!) to discuss how she could get started in the apartment business. I spent a bunch of time blabbering to her and then realized that some of what I had said might interest those of you who are also considering making a career in

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