We are just finishing a Silver Lake triplex we renovated on a fee-for-service basis for a very nice family. We put the upper two units online this weekend and we’re getting a ton of interest. Here’s the Craigslist ad. If you’re interested in an incredible, newly-renovated 3 bed / 1 bath apartment in the hills … Continue reading “New units coming on line”
Category: Property Management
5 Things You Must Do/Have to Get An Adaptive Apartment
We’ve been doing this for a while now and we’ve learned a lot about what makes a great building. Yes, the location is important. And the renovations have to be right. But a major part of making a building great for the people who live in it and manage it is making sure that the … Continue reading “5 Things You Must Do/Have to Get An Adaptive Apartment”
Be a good steward
One of the challenges of being a property owner is figuring out how much to spend maintaining / improving your building. There is a permanent temptation to keep costs down by papering over problems. You can almost always find a cheap way to fix whatever problem has arisen. And, short term, you probably won’t notice … Continue reading “Be a good steward”
Sell it vacant
If you have a beat-up, rent controlled building that you’re considering selling and a vacancy opens up, DON’T FILL IT. Here’s why: Unless you spend a lot of money fixing up the building before you rent it, you’re not going to get top dollar from the new tenant; So, you’re going to have someone in … Continue reading “Sell it vacant”
Why every last dollar of rent matters
Sometimes people question why it’s so important to get that last dollar of rent. On a $2800 apartment, does an extra $100/month matter? After all, $100 is only 3.6% of $2800… no a big deal, right? Wrong. Here’s how we think about rent in our business: All buildings are worth some multiple of their total … Continue reading “Why every last dollar of rent matters”
How CA residential leasing law hurts poor people
The courts have screwed up unlawful detainer (eviction) in California and it’s hurting poor people. Here is the current situation with leasing in CA: Courts won’t enforce a lease provision through which tenant waives jury trial (see this article for the background); and Courts won’t enforce arbitration provisions in residential leases (see here) (arbitration is … Continue reading “How CA residential leasing law hurts poor people”
Possibly the most important thing you can put in a residential lease
Here it is: “If any legal action is brought by Tenant or Landlord related to this Agreement, the prevailing party shall be entitled to recover attorneys fees not to exceed $500.00.” Why is this so important? There exists a class of tenant advocacy lawyers who make their living in the following way: Tenant fails to … Continue reading “Possibly the most important thing you can put in a residential lease”
Leaving a dog?
We just completed a move-out that came about as a result of going to eviction court. As part of a settlement, the tenants who were under eviction agreed to move out, rather than face formal eviction / a judgment / etc. These were not very nice people, to put it mildly, and we’re happy they’re … Continue reading “Leaving a dog?”
University Park Rent Survery
Today, we’re looking at rents in the USC University Park area. It’s an older neighborhood, centered on the University, with loads of old Victorian and Craftsmen homes in various states of repair. Situated between downtown and South Los Angeles, there is easy access to the 110 and 10 freeways and the Expo Metro line. Given the … Continue reading “University Park Rent Survery”
Eviction court
Spent my morning at eviction court on behalf of one of the owners for whom we manage property. Not, strictly speaking, the highest value way I could be spending my time. However, we try to manage properties the way we would if they were our own, and sometimes that means making no money and slogging through … Continue reading “Eviction court”