Nothing herein is legal advice.Effective July 1, 2024, California Civil Code section 1950.5 generally prohibits a landlord from collecting more than one month’s rent as security deposit, whether the rental is furnished or not.

I will soon be coming out with a podcast episode around confusion when it comes to the mortgage lane vs irs/tax code laneWhat is your concern around transferring title?

Lockbox installationKey duplication, meeting locksmiths, digital lock code changesMeeting cleaners, landscapers, tradespeopleProperty walk-throughs via phone and/or video conferencing Move-in and move-out inspectionsPlacing signage on propertiesPhotos and videosProperty description copy writingScheduling contractors and tradespeople for vacant propertiesStatus reports on contractor/tradespeople progressProperty drive byMail pickupDocument delivery

These are professionals with additional training and a stricter code of ethics.

I suppose it would depend on the building code if that was offered or not, or had to be hard wired in.

It's a great way to set yourself up for future wealth, and putting this inheritance into a great investment is a wonderful way to honor them.

What I can tell you is that I specifically got these locks because they appeared to have the most third-party app integrations, so I wouldn't be limiting my PMS options if I did move that direction in the future.For now though, I manually update the lock codes for each guest ahead of their arrival, which takes about 90 seconds in total - super quick and easy.  

If we are classified as dealers under the tax code, it seems any profit a partner takes home would be taxed at their ordinary income rate vs. capital gains tax if we were considered investors?

Will this require the septic tank to be replaced with a larger one to meet code?

I sent out the notices to the tenants that were on month to month leases because you have to honor existing leases. 1 moved out and 4 stayed.