How we think about apartment design

When you’re designing apartment buildings, you need to resolve the following tension: You want the units to be cool enough to attract tenants today, while making them timeless enough to attract tenants for decades to come. We have settled on what I like to think of as “authentic Socal minimalism”: “Authentic”, because we avoid using … Continue reading “How we think about apartment design”

Unsolicited advice for owners of non-RSO buildings

Owners of non-rent stabilized apartment buildings in Los Angeles with rents below market (eg most of them) ought to be considering their options in light of the likely repeal of Costa-Hawkins. Two obvious courses of action: Sell now, while the market continues to (mistakenly, in my view) place a premium on non-RSO buildings; or Immediately … Continue reading “Unsolicited advice for owners of non-RSO buildings”

Why the Fed’s growth forecast matters

If you follow macro-economic news, today was a big day. In addition to raising short-term interest rates, the Federal Reserve bumped up its estimate for economic growth in 2018, from 2.1% to 2.5%. The question for LA landlords is whether this increased growth rate will result in additional jobs / wage growth. Why should landlords … Continue reading “Why the Fed’s growth forecast matters”

Why we love (our) property management business

A lot of people in real estate HATE residential property management. Why? Tenants understandably¬†get pretty upset when they’re paying good money for an apartment and things break. And, on the flip side, no one calls up her landlord when things are going great and says “Hey! Thanks for my apartment! It’s wonderful!” So the business … Continue reading “Why we love (our) property management business”

Dealing with tenant mental health issues

In light of the UCLA shootings, thought I’d spend some time today writing about an under-appreciated problem in property¬†management: Dealing with tenants with mental health issues. If you supply rental housing in Los Angeles, your tenant base will skew towards people in their 20s and 30s. Unfortunately, the mid 20s is usually the time in … Continue reading “Dealing with tenant mental health issues”