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BUSINESS
July 17, 2011 | By Martin Eichner
Question: I just rented a cottage on a lot that includes fruit trees in the backyard. I was looking forward to living here but the woman who owns the cottage is ruining my peace and quiet. She lives nearby and everyday, without any warning, goes into the yard to tend to the fruit trees. I feel that I cannot go out into the yard because she is hanging around so often, which means I have lost the use of the backyard for which I am paying. When I complained to her, she pointed out that my rental agreement allows her to enter the yard any time she feels it is necessary.
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BUSINESS
March 9, 2014 | By Anky van Deursen
Question: My wife and I purchased a 10-unit residential building as an investment. This is our first time owning a rental property, and we quickly realized it's a lot of work. We hired a property manager to deal with all of the details, and for a while everything seemed to be fine. Last week, however, we received a notification from the Department of Housing and Urban Development that one of our tenants had filed a complaint against us, claiming that our property manager had sexually harassed her. We know nothing about this - can we be liable for what the property manager did here?
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BUSINESS
March 31, 2000
This is one in a series of tax questions from readers answered by local members of the California Society of Certified Public Accountants, to help with your 1999 and 2000 tax issues. Q: I have been planning on selling a rental house I own to raise money to finance my son's college education. Recently, however, the thought has occurred to me that I might be better off refinancing the property to raise the money. If I sell, I have to pay capital gains on the profit.
BUSINESS
November 6, 2012 | By Lauren Beale, Los Angeles Times
Actor Leonardo DiCaprio has put a Malibu rental property up for sale at $23 million. The oceanfront Cape Cod-inspired compound had been listed for lease this summer at $75,000 a month for a long-term tenant or $150,000 a month for a lease of less than six months. All three homes on the less than half-acre lot have recently been remodeled. There are a total of seven bedrooms and 6.5 bathrooms in an undisclosed number of square feet. Outdoor features include a beachfront deck, a fire pit, gardens and lawn.
BUSINESS
October 25, 1992 | CARLA LAZZARESCHI
Q: I have a single-family home in which I lived for nine years before converting it into a rental. The house has a $50,000 mortgage on it, but is worth $200,000. I would like to refinance the mortgage and take equity out of the house. Can I still get a tax deduction on the new mortgage? What is the maximum tax-deductible mortgage allowed on a rental house? --A.G.
BUSINESS
November 6, 2012 | By Lauren Beale, Los Angeles Times
Actor Leonardo DiCaprio has put a Malibu rental property up for sale at $23 million. The oceanfront Cape Cod-inspired compound had been listed for lease this summer at $75,000 a month for a long-term tenant or $150,000 a month for a lease of less than six months. All three homes on the less than half-acre lot have recently been remodeled. There are a total of seven bedrooms and 6.5 bathrooms in an undisclosed number of square feet. Outdoor features include a beachfront deck, a fire pit, gardens and lawn.
CALIFORNIA | LOCAL
May 16, 1995 | HOPE HAMASHIGE
The Planning Commission on Wednesday will try to resolve a dispute between American Legion Post 783 and the owner of property that the organization wants to lease for its headquarters. Post 783 decided last summer that it could no longer afford the $9,700 monthly rent it was paying at a location on Beach Boulevard and began to search for less expensive space.
BUSINESS
November 10, 1992 | DAVID W. MYERS
It's no secret that the housing market in Southern California--and most of the country--is in the doldrums. Gone are the heady days of the late-1980s, when you could buy a home or small apartment and sell it a year or two later for big profits. But today's sluggish sales, lower prices and rock-bottom mortgage interest rates are causing some investment experts to say now is a great time for patient investors to buy small rental properties.
BUSINESS
April 15, 2012 | By Martin Eichner
Question: I own two houses on the same street. I live in one and rent out the other. The tenants in the rental house have seven months left on their lease. I would like to move my wife's mother into the rental house so she can move out of my house. Will I be able to do that? Answer: A lease is an agreement that is binding on all parties to it, tenant and landlord. Some leases have "escape clauses" that allow either party to cancel upon giving notice, typically 30 days. If the lease agreement you used for this rental does not include an escape clause, you have no general right to unilaterally cancel the lease.
BUSINESS
August 29, 2010
Question: About a year ago I found out that a casual friend had been laid off and become homeless. I let him move into my apartment's spare bedroom free of charge. Now I want my privacy back. I have asked him to leave, but he doesn't appear to be making any effort to do so. A real estate agent says my friend is a trespasser, since we have no rental agreement or landlord-tenant relationship. She says I can call the police to have him removed or I can change the locks on a day when he is away.
BUSINESS
September 16, 2012 | By Martin Eichner
Question: I own a home that I am using as a rental investment property. This home has a large backyard with a patio. During these recent summer months, I noticed that in addition to the tenant on my lease, there is another fellow sleeping on a lounge chair in the backyard. My tenant says this guy is his guest, and that he will be staying there the entire summer. I am not happy with this arrangement. Is there is any action I can take to remove "Mr. Outdoors"? Answer: First, check your rental agreement.
BUSINESS
July 8, 2012 | By Martin Eichner
Question: I bought a rental property with 10 units about two years ago. There is a nice lawn and sidewalk area in front, and a pool with picnic tables in rear. There is also a parking lot. When I took over the property, the prior owner had already inserted a clause in the rental agreements prohibiting smoking in the units. But tenants and their guests had been allowed to smoke in the common areas, including the front lawn, pool area and parking lot. I am tired of cleaning up after the smokers and tired of listening to complaints from the nonsmoking tenants.
BUSINESS
April 15, 2012 | By Martin Eichner
Question: I own two houses on the same street. I live in one and rent out the other. The tenants in the rental house have seven months left on their lease. I would like to move my wife's mother into the rental house so she can move out of my house. Will I be able to do that? Answer: A lease is an agreement that is binding on all parties to it, tenant and landlord. Some leases have "escape clauses" that allow either party to cancel upon giving notice, typically 30 days. If the lease agreement you used for this rental does not include an escape clause, you have no general right to unilaterally cancel the lease.
BUSINESS
April 7, 2012 | By Alejandro Lazo, Los Angeles Times
The Federal Reserve has released guidelines that could encourage the practice of converting lender-owned foreclosed homes into rental properties. By converting foreclosures to rentals with steady cash flow, banks could reduce the number of their "substandard assets," a classification used by banking regulators to determine the health of banks. The central bank also said that lenders could receive Community Reinvestment Act credit for providing housing to low-income and moderate-income people by successfully converting foreclosed homes into rentals.
BUSINESS
October 30, 2011 | By Martin Eichner
Question: I rent an apartment in a large multistory building. There is a long balcony on my side of the building. Management sent me a letter telling me they wanted to install telecom and antenna equipment on this balcony so the local phone company can improve Wi-Fi reception in our area. The only access to the balcony is through two apartments, one of which is mine. Do I have a right to refuse to allow this installation? If they go ahead with the installation, do I have a right to refuse to allow the telephone technicians to use my apartment for access?
BUSINESS
July 17, 2011 | By Martin Eichner
Question: I just rented a cottage on a lot that includes fruit trees in the backyard. I was looking forward to living here but the woman who owns the cottage is ruining my peace and quiet. She lives nearby and everyday, without any warning, goes into the yard to tend to the fruit trees. I feel that I cannot go out into the yard because she is hanging around so often, which means I have lost the use of the backyard for which I am paying. When I complained to her, she pointed out that my rental agreement allows her to enter the yard any time she feels it is necessary.
BUSINESS
September 16, 2012 | By Martin Eichner
Question: I own a home that I am using as a rental investment property. This home has a large backyard with a patio. During these recent summer months, I noticed that in addition to the tenant on my lease, there is another fellow sleeping on a lounge chair in the backyard. My tenant says this guy is his guest, and that he will be staying there the entire summer. I am not happy with this arrangement. Is there is any action I can take to remove "Mr. Outdoors"? Answer: First, check your rental agreement.
REAL ESTATE
January 15, 1995 | From Operation Sentinel. This column is prepared by Operation Sentinel, a rental housing mediation service in Sunnyvale, Calif
QUESTION: I have decided to sell my rental property. What obligations do I have to my tenants and the potential buyers? ANSWER: The sale of a rental property can create difficulties if not handled well. Keep in mind that you, the buyer, your realtor and your tenants have different interests during this time, so be careful. An important issue is preserving your tenants' privacy while your property is on the market.
BUSINESS
August 29, 2010
Question: About a year ago I found out that a casual friend had been laid off and become homeless. I let him move into my apartment's spare bedroom free of charge. Now I want my privacy back. I have asked him to leave, but he doesn't appear to be making any effort to do so. A real estate agent says my friend is a trespasser, since we have no rental agreement or landlord-tenant relationship. She says I can call the police to have him removed or I can change the locks on a day when he is away.
CALIFORNIA | LOCAL
January 22, 2009 | Jessica Garrison
The owner of an apartment building that collapsed Sunday in Los Angeles' Koreatown, injuring four people, was convicted last fall of numerous fire and health code violations and agreed to sell all of his roughly 150 rental properties as part of a plea agreement that allowed him to avoid jail time, records show. Frank McHugh, 82, of Marina del Rey was given three years to sell his apartment buildings in an agreement approved by Los Angeles County Superior Court Judge Spurgeon Smith.
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