YOUR RENTAL INCOME LOWERED BY 25%?? That is what a legislative proposal called ABA 828, if passed, would require you to do for EVERY tenant living in your apartment building. This bill would even give judges the power to change your rental agreement and tell you what rents to charge. You would have to prove that you need the rental income.
We encourage you to take a moment and write and email to Governor Newsom, and ask him to veto any form of AB 828 that might reach him.
LA COUNTY Leaders Greenlight $1k per month aid for renters
An urgent plan that would give Los Angeles County renters hit hard by the economic toll of the novel coronavirus pandemic $1,000 per month for three months, was approved unanimously by the Board of Supervisors on Tuesday, April 14.
Under the Emergency Rent Assistance Program, when it’s created, the county will leverage its allotment of federal stimulus money, coupled with private funding, to provide rent aid to ho
Landlords will not be able to evict a tenant if a tenant can show an inability to pay rent (and/or related charges) due to financial losses from: A diagnosis of COVID-19 or caring for a household/family member who is diagnosed with COVID-19; Layoff, loss of hours, or other income reduction resulting from business closure or other economic or employer losses due to COVID-19; Compliance with a recommendation from the County’s Health Officer to stay home, self-quarantine, or avo
Great News for 1031 exchanges!
The IRS has issued Notice 2020-23, which extends a variety of deadlines including 1031 deadlines.
Taxpayers with a 45-Day Exchange Period or 180-Day Exchange Period deadline between April 1, 2020 and July 15, 2020 will receive an automatic extension to July 15, 2020.
IPX 1031 also notes the following:
This is different from the usual disaster extension that provides for an extra 120 days.
Here are two examples to illustrate the curr
STATEMENT FROM KEITH KNOX, TREASURER AND TAX COLLECTOR, REGARDING COVID-19 AND THE APRIL 10 PROPERTY TAX DEADLINE Statement in Other Languages I understand that this is a very stressful time, especially for those suffering direct effects from this public health crisis, and my office is committed to helping in any way we can. Los Angeles County property owners affected by the COVID-19 virus may have late penalties cancelled if they are unable to pay their property taxes by th
Los Angeles City Small Business Emergency Microloan Program
The City of Los Angeles has just recently established the Small Business Emergency Microloan Program. This program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.
Businesses that meet the criteria below may apply online for a
City of LA Small Business Emergency Microloan
To apply, register through our through t
Last week, California Governor Gavin Newsom announced that Los Angeles County will receive state funding to assist local workers and businesses during this crisis. The funding will be used to provide employment, training, and other supportive services to displaced workers, as well as rapid response and layoff aversion services to small and mid-sized businesses. The Los Angeles County Department of Workforce Development, Aging and Community Services (WDACS) will launch this pr
Tenants and landlords are both feeling the pressure of April’s rent payments. Luckily, there are resources available to assist! In order to assist our clients and their tenants, we are providing a list of organizations (and their requirements as available) that offer rental assistance in Los Angeles and/California: Resident Relief Foundation: Currently only accepting applications to those facing imminent eviction. Will offer more rental assistance once LA County Moratorium i
The answer is YES! As of March 28th, the California Association of Realtors announced that real estate has been established as an essential industry. This includes both residential and commercial real estate, as well as settlement services in California. The Association stated that all CDC and local health mandates should be followed. The guidelines specifically state no open houses should be held and showings should be done virtually. City and county restrictions, though, st