A common question in the minds of many property owners familiar with the Rent Escrow Account Program (REAP) is what are the REAP funds used for? Many owners assume the funds will be used to assist with funding the rehabilitation…
Month: April 2014
Los Angeles Housing Department Rental Escrow Account Program (REAP): Owner Withdrawals from Account
Posted in REAP (Rent Escrow Account Program)
Los Angeles Housing Department Rent Escrow Account Program (REAP): Tenant Rental Payments
Once a property is formally accepted into REAP, an escrow account is established by the Los Angeles Housing Department (LAHD). Rent payments from tenants of the property may be deposited into the escrow account. Interestingly, the tenants are not required…
Posted in REAP (Rent Escrow Account Program)
Los Angeles Housing Department Rent Escrow Account Program (REAP): Appeal Process
As mentioned in previous posts on the Rent Escrow Account Program (REAP), once a notice accepting the property into REAP has been mailed to the landlord, the property owner has fifteen (15) calendar days to appeal the REAP acceptance. The…
Posted in REAP (Rent Escrow Account Program)
What is a Receivership?
First, this is not a football term. In the legal universe, a receiver can be appointed by a government regulator pursuant to a statute, appointed by a court or appointed privately. Under a receivership, the receiver undertakes custodial responsibility over…
Posted in Property Management, Receivership
Generate Additional Income Streams for Your Investment Property
Of course, an apartment owner’s main source of monthly income generated from the property will be rent collection. However, there are alternative ways to generate additional income that may just transform your investment from a “break-even” asset to a profitable…
Posted in Income Property, Property Management
Los Angeles Housing Department Rent Escrow Account Program (REAP): Procedure and Timeline
After a property owner receives an Order to Comply from the Los Angeles Housing Department (LAHD) listing the deficiencies at the property and demanding the required repairs, the property owner has a certain allowable time to make the repairs. If…
Posted in REAP (Rent Escrow Account Program)
Twelve Legal Reasons for Eviction Under Rent Control Laws in City of Los Angeles
As discussed in earlier posts, certain properties within the City of Los Angeles are subject to the Rent Stablization Ordinance (”rent control”). Owners of such properties are limited as to why, how and when they can evict a tenant. Below…
Posted in Eviction, Los Angeles Rent Control
Frequently Asked Questions Regarding Rent Control in Los Angeles
What is Rent Control? The Rent Stabilization Ordinance (RSO), commonly referred to as “rent control”, was passed as an ordinance in 1978 to protect Los Angeles tenants from excessive rent increases, while at the same time, allowing landlords a reasonable…
Posted in Los Angeles Rent Control
Apartment Building Valuation Approaches: Gross Rent Multiplier (GRM) and Capitalization
Apartment buildings are commonly described as “income properties.” Unlike single family homes, apartment buildings (a sub-set of the multi-family property category) are almost exclusively valued based on the amount of income generated on a per-month basis. Appreciation is a factor,…
Ethical Considerations Regarding Dual Role of Attorney/Real Estate Broker: CA State Bar Opinion
May an attorney who is also licensed as a real estate broker act in both capacities on behalf of a client in connection with the purchase of real property in California? The California State Bar said “yes” in a State…
Posted in Uncategorized
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