California’s Insurance Market in Crisis
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Grant Otter, Heffernan Insurance Brokers The headwinds facing the global Commercial Property and Casualty insurance market have gotten stronger, with trends over the past five years being of “major concern” in nearly every line of business for habitational property owners and managers. As members of the Apartment Association of Greater Los Angeles, it is crucial to stay abreast on the evolving insurance market landscape to make well-informed decisions regarding your insurance program.  In this article, we take a moment to dive into the current California Property insurance market and o ..read more
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The So-Called “Justice for Renters Act” Offers No Justice for Landlords
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Daniel Yukelson Will it be a rough road ahead?  Perhaps, but let’s hope not. Let’s all band together and support the opposition and fight against the ballot initiative that could pose devastating, long lasting impacts on those of us in the rental housing business in California. The threat? It’s the so-called “Justice for Renters Act” that will be on the November 2024 ballot.  The initiative repeals an important state law called the “Costa-Hawkins Rental Housing Act of 1995” (Costa-Hawkins).  This important law restricts the scope of both state and local rent control regulatio ..read more
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Using Algorithms To Set Rents Isn’t Price Fixing; Rent Control Is
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Roger Valdez, The Center for Housing Economics It is an irony almost never noted that tenant advocates who support rent control, that is fixing prices to benefit the broad class of people who rent housing. Yet, in a novel legal challenge to shared price information, tenant advocates are suing housing providers for the exact same thing, allegedly trying to “fix prices” or forming a cartel to eliminate competition. The people filing the legal challenge, of course, aren’t concerned about consistency or competition, but fomenting the friction caused by inflation in the housing market when there ..read more
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“ASK KARI”: Your Guide to 365 Days of Property TLC ??️
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Kari Negri, Chief Executive Officer, SKY Properties, Inc. Dear Kari, for someone like me who self manages a rental property, what tasks should I be doing throughout each year to ensure my building is being property maintained and to avoid costly repairs? Owning or managing a rental property requires meticulous attention to detail and a proactive approach to maintenance. Neglecting routine tasks can lead to costly repairs and compromises the safety and satisfaction of tenants. To ensure your property remains in top-notch condition throughout the year, I’ve compiled a comprehensive maintena ..read more
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Dear Maintenance Men:
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Jerry L’Ecuyer & Frank Alvarez Dear Maintenance Men: I have floating vinyl tile flooring in my rental unit.  One of the tiles in the middle of the floor has been damaged.  How do I go about replacing one tile without damaging the surrounding tiles? Bryan Dear Bryan: Floating floors do not use glue to hold them down.  The tiles click together and form a floating membrane over the substrate.  Replacing the damaged tile is not too hard but does need a little attention to detail.  Make sure you have a spare tile to replace the damaged tile. Mark the damaged tile wi ..read more
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Resolve to Save in 2024
Apartment Management Magazine
by Apartment Management Magazine
1M ago
by Livable Content Team  2024 is here! Whether or not you set resolutions, it’s natural to look for ways to improve your business at the beginning of a new year. This is a great time to think about building and bettering your properties for the sake of your business growth and development. The health of your business is everything. You can’t serve Residents and protect your investments without a healthy bottom line.  Your net operating income is important – it’s the single best metric of the health of your business! So in 2024, we want to show you that the best ways to save this ..read more
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California is not East Berlin. A wealth tax in California would expedite the exodus.
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Jon Coupal Daily news reports on the great “California Exodus” are not just from conservative outlets. Left-leaning publications such as the Los Angeles Times and San Francisco Chronicle have recently reported on the outmigration of upper-income citizens who, even if not billionaires, still generate a lot of income tax revenue. The California Legislature held a hearing on Assembly Bill 259 which would lay the foundation for the imposition of a wealth tax. The companion legislation to AB 259 is a proposed constitutional amendment that would, among other things, effectively sweep away Proposi ..read more
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Perspective: The Folly of Rent Control
Apartment Management Magazine
by Apartment Management Magazine
1M ago
By Natalie Davis, President, Colorado Association of Realtors [Editor’s Note: While this article was written about rent control regulations proposed in the State of Colorado, the arguments made in opposition to the failed policy are valid for any jurisdiction.] There is little argument when it comes to the issue of affordable housing — owned or rented — that Colorado is at a critical juncture to identify and implement much-needed solutions to protect the economic vitality and housing future of our state and its residents. For more than 40 years, Colorado law has prohibited local governments fr ..read more
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Academics, Lawyers, and Bad Theories Sustain the Homeless Crisis
Apartment Management Magazine
by Apartment Management Magazine
1M ago
BY: TIM CAMPBELL Before getting into the meat of this column, I want to make it very clear I have immense respect for academia and the legal profession.  Both disciplines have expanded the breadth of our knowledge and humanity. But like any other profession, they can be bent to meet goals antithetical to their principles.  By now, most readers will have heard of two important news stories. First, the disastrous testimony of three college presidents from Harvard, MIT, and U Penn before Congress. The other is the Supreme Court’s acceptance of an appeal of the Boise decision.  When ..read more
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Rent Freeze – Promise Broken
Apartment Management Magazine
by Apartment Management Magazine
2M ago
Almost a year ago, January 31, 2023, the Los Angeles City Council had finally declared that the COVID-19 emergency was finally over, and with that, they promised the “emergency” rent freeze would expire 12-months later effective on January 31, 2024, allowing housing providers to finally get back to normal operations of collecting rent and responding to unprecedented inflationary pressures. This promise that so many of the City’s rental housing providers had relied-upon, was broken. For more than 40 years, the City followed a formula for rent increases prescribed by its ordinance. Now, in the ..read more
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