OSrents's Blog

New laws passed for 2011 regarding rentals

osrents — Sun, 24 Oct 2010 17:59:45 +0000

Did you know? Here are some of the new laws passed that will affect rental property owners:

1. Starting in 2011 landlords are required to issue a 1099-Misc. form to every vendor they contract with.

2. Bonus depreciation – Any fixed asset you purchase for your properties such as cabinets

3. Section 179 expensing on qualified real estate improvements.

If you have any questions regarding these laws, give us a call 888-412-0704

Property info

osrents — Sat, 23 Oct 2010 20:43:47 +0000

Property info. Only 99 cents a square foot – office/retail suites available on busy northbound Azusa Avenue – high visibility. Two spaces available, one facing street, each at 650 square feet.

osrents — Sat, 22 May 2010 20:12:04 +0000

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Los Angeles Rent Control sent back to committee

osrents — Fri, 21 May 2010 23:46:32 +0000

In a nutshell:
July 1 increases will still stand.

Your Help Needed to Oppose a Rent Freeze

osrents — Wed, 19 May 2010 23:07:16 +0000

Your support is needed on Friday, May 21, 2010, as the Los Angeles

City Council is going to vote on freezing all rents in Los Angeles for

four months. At the end of four months their goal will be to keep

extending it so that rents will be “permanently” frozen. As you know,

this will have an effect on all other cities in California, especially

San Francisco, Berkeley, Oakland, West Hollywood, Santa Monica and

even Beverly Hills!

The Los Angeles City Council opens it doors at 10:00 AM, but the renters

group will be bringing in busloads of people at 9:00 AM to stand in line

outside the council chambers. Their goal is to fill up the auditorium

with renters so that landlords can’t get in. We must be there before

9:00 AM so we will at least get our share of seats. The Los Angeles

City Council chambers are located at 200 N. Spring St. on the 3rd floor.

Be sure to sign up to speak so you can give your reasons for needing to

raise your below-market rents at least 7%. You can give your speaking

time to me or another friend if you do not wish to talk. They count the

number of owners and renters by the “request to speak” slips, so it

is important to fill out the request even if you personally do not plan

to speak.

You will be dealing with a mostly irrational group of elected politicians.

As an example: over 30 years ago, rent control was passed because

inflation was causing rents to go up. Now, their argument is that

because we have no inflation, they need to pass a law to stop rents

from going up. They use the excuse of inflation whether it’s going up

or down to vote for more tenant benefits and for the redistribution of

your wealth. This is not rational thinking or logical, but that is what

we are dealing with so we need your support even more. Please be

there if at all possible.

One Stop NON STOP – 365 days of property management news you can use

osrents — Thu, 29 Apr 2010 20:32:16 +0000

How much of a security deposit should you charge? Generally, a good rule of thumb is a security deposit equal to one month’s rent. The legal limit in California is 2x the monthly rent for an unfurnished home and 3x the monthly rent for a furnished home. www.osrents.com / 888-412-0704

One Stop NON STOP – 365 days of property management news you can use

osrents — Wed, 28 Apr 2010 21:27:06 +0000

Where are all the good tenants??? They’re EVERYWHERE in the form of people with “imperfect” credit. Having a foreclosure or a bankruptcy can really ruin your credit quickly. We research not only their credit rating, but find out many other important things before renting to a tenant: how long have they had their job? Do they make enough money to pay the rent? What does their last landlord have to say? How long have they lived at their prior residence? If you don’t have the time, money or energy to spend properly vetting your tenants, you’re setting yourself up for a lot of headaches down the road. Let us choose the perfect tenant for your property. www.osrents.com / 888-412-0704

One Stop NON STOP – 365 days of property management news you can use!

osrents — Tue, 27 Apr 2010 21:22:21 +0000

Been to eviction court lately? We were there yesterday. Hiring a professional is a MUST in court. Our lawyer negotiated a settlement and got the tenant out in record time! Don’t try this road alone, leave it to the pros. All you need is one form filled out incorrectly, and you have to start all over! For only $895 we will do it ALL for you. www.osrents.com / 888-412-0704

One Stop NON STOP – 365 days of property management news you can use

osrents — Mon, 26 Apr 2010 22:36:43 +0000

One Stop gives back to the community. We will be joining the Real Estate Professionals Foundation in sponsoring a golf tournament on Thursday, April 29 at Sierra La Verne Country Club to benefit the San Gabriel Children’s Center. We are still in need of golfers, donations, raffle prizes and sponsors. http://www.repfoundation.com/2010-golf-sponsor-opportunities.html

One Stop NON STOP – 365 days of property management news you can use

osrents — Sun, 25 Apr 2010 20:31:21 +0000

Have a big heart? Roll over easy? Being a landlord may not be for you…..leave it to the pros. We’ve heard just about every hard luck story and excuse there is. While making exceptions once is okay, the constant month to month reasons on why your tenants are behind on rent can cost you thousands! www.osrents.com