California multi-family rental home owners and property managers need to be educated about appropriate ‘Signage’ for their properties. The following is a concise list of typical signage at multi-family buildings, rental properties, and neighborhoods.
Lead, (Pb on the Periodic Table from Chemistry 1A), has been an integral part of human existence for thousands of years. It has been very useful and instrumental in the development of plumbing, waste disposal, and water diversion systems from early civilizations. Most importantly lead-based paint was used prolifically up until 1978 to paint the homes, dwellings, and buildings of the United States. It is estimated that 38 million homes in our country have some form of lead-based paint in the interior or exterior. Although lead has helped advance our human cause it has also presented hazardous health side effects which required laws restricting its use and requiring disclosures. Property managers, landlords, and owners who rent for a fee must be aware of the requirements set forth by State and Federal Law before renting, leasing or even selling a property built prior to 1978.
If you manage properties or rental units for a fee, or you are an individual who rents properties or rental units to people/tenants for a rental fee or leasing fee you should pay attention to what the law requires when it comes to smoke detectors or smoke alarms. As a landlord you are responsible to know the law; ignorance is no defense to a wrongful death lawsuit or serious fire causing major property damage.
Smoke alarms and smoke detectors are critical residential components which must be handled with care and diligence as they are life-saving and property-saving devices which must not be taken lightly. The undertaking of managing properties is wrought with legal pitfalls and unknown obstacles, however understanding the law is paramount to being a fiduciary for your client, or being on the right side of the law if something goes wrong. A new 2014 law in California implements some standards which all property managers and property owners who rent to individuals must be aware of and abide by.
The American rule for attorneys’ fees is that each party bears its own attorneys’ fees and costs unless otherwise specified by contract or statute. When a contract or statute specifies that the prevailing party is entitled to their reasonable attorneys’ fees and costs, assuming the matter is litigated to conclusion by a court or a jury, the prevailing party can then make a motion for their attorneys’ fees and costs (Motion for Attorneys’ Fees). The motion is then taxed (Motion to Tax Costs), or opposed, by the opposing party by paperwork, a declaration, and exhibits.
An owner of rental property including single-family residences and multi-unit apartment buildings can legally prohibit smoking in and around their properties just like they can prohibit pets, too many guests, or too much noise. In addition to the obvious health related reasons and rationale for eliminating smoking in rental units by reducing or preventing exposure to secondhand smoke, a no-smoking policy can also reduce risks of fire which may lead to reduced insurance premiums for the properties.
Carbon monoxide (CO) is an odorless, invisible gas produced when any fuel such as natural gas, kerosene, wood, oil or even common barbecue charcoal is burned. At high levels without proper ventilation carbon monoxide can kill humans in a very short period of time, even after just a few minutes. Moreover, there is credible research that acute exposure or poisoning by carbon monoxide can cause chronic health effects such as lethargy, severe headaches, amnesia, psychosis, concentration problems, memory impairment, personality alterations, and even Parkinson’s disease.
Have you ever heard “Good fences make good neighbors?” Now, adjoining landowners are statutorily equally responsible for shared fences and boundary fences pursuant to California Civil Code Section 841 which took effect January 1, 2014. Adjoining or contiguous landowners are now faced with a presumption that because they share an equal benefit of a shared or boundary fence that they are equally responsible for the reasonable costs of construction, maintenance, or necessary replacement of the fence. Property managers or rental property management companies whose clients’ properties are affected by this new law must be mindful of the change and be aware of the procedural requirements dictated by the state legislature.
If you are the least bit concerned about the management of your investment property, remember the old adage, “Where there is smoke, there is fire!” Nine times out of ten when there is a significant lack of communication, if the results in your monthly statements continue to disappoint, and if your property manager has overpromised and under-delivered, it is time to say good-bye. Start your investigation as soon as possible, call the responsible broker and ask for a serious conversation.
The cost of hiring a property management company to handle investment properties is significantly less than most property owners believe. Investment property owners who manage their own property with the idea that property management costs are too much might be mistaken as to the actual real costs.
Additionally, a large percentage of property owners do not take advantage of all of the tax strategies available to them. For example, if a property owner manages their investment portfolio out of their home office there may be some business related items they are not expensing. Interest in all forms including mortgage interest, equity lines of credit interest, and any business loan interest are all expenses which are typically deductible. Losses like casualties, disasters, and thefts are expenses which properly accounted for are deductible.
Withholding of a tenant’s security deposit is probably the number one reason a property manager can end up on the other end of a lawsuit or even in court. There are many precautions and procedures which a prudent property management company or property manager can implement which will help prevent this situation from occurring. Moreover, a property management course or continuing education in the nuances of proper statutory procedures can go a long way in preventing a lawsuit and subsequent lost time, energy and even money. Finally, an owner is responsible for the acts of a property manager and could find themselves in court as well if the property manager has violated the law, has not properly counseled the owner or properly handled the tenant’s security deposit.
