Landlords worry that the security deposits allowed under the bill will not be sufficient to cover these damages.The presence of pets can lead to higher maintenance costs due to wear and tear, noise complaints, and the need for more frequent and thorough cleaning.Financial Implications: The bill prohibits landlords from charging additional rent or security deposits specifically for pets, which landlords argue is necessary to offset the increased risk and maintenance costs associated with allowing pets.Landlords may need to increase their liability insurance coverage to protect against potential issues arising from having pets on the property, which could lead to higher insurance premiums.Key Provisions of AB 2216No Blanket Pet Bans: Landlords can’t have blanket bans on common household pets without valid reasons.No Extra Charges: Landlords can’t charge extra rent or security deposits for pets.Documentation Requirement: Landlords must provide written documentation if they restrict pets for health or safety reasons.Pet Liability Insurance: The bill might require tenants with pets to have pet liability insurance.As always, I’m here to discuss how this might impact us as property managers and landlords.

I am currently reviewing the numbers associated with a wraparound mortgage and I need some assistance in determining if they make sense.Can anyone please direct me to the appropriate person who would be able to help me analyze and verify these figures?

@Shabar Marshall maybe Las Vegas is different but when I list a condo/hoa for sale, I have already asked the association, if seller doesn’t already know, about parking, pets, and rental restrictions so I can answer those questions vs wasting everyone’s time.

To manage properties effectively, ensure tenant satisfaction, maintain the property, and handle legal matters, hiring a property manager who is a member of the National Association of Residential Property Managers (NARPM) is an excellent choice.

Whether it is fair or not, I feel that Detroit gets associated with more headaches than perhaps is fair.

I'm a member of the North Carolina Real Estate Investors Association.

Building a strong foundational knowledge base is essential, and you can achieve this by engaging with communities like ours here or by joining your local Real Estate Investors Associations (REIAs).

Often the lack of these things are associated with sponsors and deals that target unsophisticated investors.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

Our local Realtor association (NPSAR) has argued extensively against it.