All Forum Posts by: Alison Brenner

I hear your frustration. Although it's warranted, please know you dodged a bullet. This is a blessing in disguise. The prospective is telling you she isn't a good fit. Believe her. You want the resident who is thrilled to move in and has no problem with your lease terms. I would happily return the prospective resident's deposit and move forward with my search.

In my state, the new landlord is required by law to serve a change of landlord notice within 15 days of assuming ownership. Not that California is the norm but my instincts are to keep the estoppel and new ownership notice separate. The estoppel focuses on what is; the notice announces a change. Also, the seller should provide you with completed estoppel certificates whereas you should be responsible for notifying residents of the change in ownership.

I would think you want to know the hourly rate for bookkeeping services. Just google the average hourly rate for bookkeepers in your area and have your sister clock her hours.

No flooring is resident proof. If residents do not properly care for the flooring, you are going to have problems. No pets is always the best pet policy for landlord. If you want to accept pets, I would strongly consider imposing pet security deposits and pet rent fees in addition to the security deposit. There needs to be accountability and consequences for damaging property.

Hi,

I'm in OC and went through an eviction about a year ago. I can only tell you what I would do. First, I would hire an eviction attorney and file a UD action. It's should take about 10 days for the process server to serve the tenant. Once the tenant is served, you are going to get a phone call. I would inform the resident that I am moving forward with the eviction process and advise her to vacate immediately in order to avoid further damage to her credit. Then, I would cut communication. An eviction is a legal matter and all communication should be sent through your attorney.

More often than not, this works like a dream. If you get a fun one, like I did, she'll want her day in court. That means she has 21 days to contest the UD action. Then, it's waiting game for your court date. The date will depend on the eviction court backlog. Once you do have the hearing, the judge will order the tenant to vacate by a specific date. If the tenant fails to so, your eviction attorney will submit a request to have her forcibly removed by the sheriff.

This was my approximate timeline:

1) May 1st tenant fails to pay rent.

2) May 21st UD action filed

3) June 15 attorney receives tenant's response to UD action.

4) July 15 eviction hearing. tenant ordered to vacate by Aug 6th

5) Aug 6 tenant finally vacates.

Best of luck.

Jon or Kyle Janecek at Newmeyer Dillon in Newport Beach. 

I went through the same mental gymnastics. My partner and I are still working from home. In 2022, we fired the PM company and started self-managing. Our work schedules allowed for flexibility- we wanted to give property management a try.

We couldn't have made a better decision. I am member of AAOC and CAA (tons of form templates are available on the websites). I also have two attorneys on retainer - one general real estate and one eviction.

Self managing is a life changing experience. We don't travel. We are on call 24/7. And we wouldn't change it for the world. It isn't pretty, fun, or easy. It is absolutely worth the sacrifice. There is NO replacement for first-hand experience.

With that being said, every landlord is different. There's a steep learning curve and the first year sucks (for lack of a better word). Wishing you the best in your investment journey. Happy 4th!

The day I fired my professional PM and started self-managing was the day my business changed for the better. Best decision I ever made. I am going to shoot you a private message. Call me. Alison

I own 24 self-managed units in Anaheim. I'd look into Beachfront PM. They have a wonderful rep. If you want cheap management, try Consensys. They will work with you in terms of creating a hybrid model in which you play a management role. It depends on what you want.

I had professional management until April 2022....NEVER again. As my grandfather used to say, the worst owner is still a better manager than the best professional property manager.

Hi All,

My family's business has been multi-families for over 60 years. In January, I inherited 24 units (4 building; 6 units each). I started self-managing in April of 2022. In short, I am very green.

I am strongly considering moving to an accountant who specializes in real estate investments. My family has used the same CPA for over 20 years. He is wonderful but I don't think he has the required knowledge or skill set.

I realize that there are accountants who are very active on this site. If you have personal experience working with a real estate CPA/accountant in the Orange County, CA area, I would greatly appreciate the person's contact info.

Thank you very much for all your help.