All Forum Posts by: Susan O.

For anyone investing or who owns in Richmond California be it's being debated there.  There's actually a big legal battle going on.  Richmond still is coming back from bad times and this whole rent control thing will put it in the wrong direction.

http://www.sfchronicle.com/news/article/Richmond-rent-control-law-has-landlord-seeing-red-10887352.php

http://www.tenantstogether.org/

Basically all of housing is under attack in California.

We need to write our congress and political representatives about this and allow our hard work and effort in improving neighborhoods to not be taken away.

Here's a debate with an organizer from the group Tenants Together.  They currently are pushing a lot of new rent controls into Santa Monica, LA and Long Beach.

https://audioboom.com/posts/5228575-ronn-owens-rent-control-measures

We reside and pay California tax.  We have rentals in Ohio, Hawaii and Nevada now.  For travel expenses we have racked up a lot of expenses on a property in Hawaii. 

For the Hawaii duplex. We legitimately have been flying there 4 times a year to fix up the property, meet property manager, deal with tenant legal issues etc.  Travel Expenses are rental car, gas, flights (about $8k), food expenses etc.   We literally had code enforcement write up everything on the property, as well as code enforcement and a bad eviction so we had to visit the property a lot and have tons of losses and expenses.

We only had about $6,000 in rental income, about $6k in repairs and $15,000 in capital improvements...  yet have $12,000 in travel expenses and $2000 in meals from trips.  I could see how this could look like a red flag to an auditor

I am not sure if my Tax advisor is just too conservative, but he keeps recommending that we don't write off that much.  He basically said just writeoff about $6,000 in expenses.

I feel like we have enough of a paper trail and receipts to show our travel relates to expenses and legit travel, but I also don't want to make it seem like we're doing these trips just for

Anyone have advice here?  Is my tax advisor just too conservative or does he have a point.  I don't want to miss out on write offs that are legit. But he advised that getting audited will just be an expensive, time consuming

@Amit M. and others--

http://www.sfaa.org/apr2008/0804president.html

http://www.sfaa.org/pdf/CAA-Insights-Costa-Hawkins-Rental-Housing-Act.pdf

This is from the California Apartment Association.  The problem is the Costa Hawkins law is changing.  Rent control can go to condominiums and SFRs it's crazy

@Ryan Scott IsacksenRyan. It's odd that in Oakland where it's already anti-landlord they are now pushing for harsher rent controls.  What can be done about it?

@Kevin Dee California is anti landlord and they are now contemplating this--

http://www.latimes.com/business/la-fi-costa-hawkins-repeal-20170314-story.html

@Amos M. @Account Closed @Chris Jones @Chris Mason

Things are not looking good for even home owners

http://www.latimes.com/business/la-fi-costa-hawkins-repeal-20170314-story.html

This could effect landlords of small properties even single family houses rented out. 

http://www.tenantstogether.org/updates/biggest-renter-convening-decades-will-happen-fall

Populist 'socialist' shift is happening.  These are groups funded by big politicians in California and other states.  Some are national organizations pushing rent control

http://www.latimes.com/business/la-fi-costa-hawkins-repeal-20170314-story.html

Currently there is a movement to dramatically expand Rent Control through California.  In the past there were basic restrictions on how harsh of restrictions that cities can put on property owners and mom and pop landlords.   A lot of politicians are backing these rent controls as a sort of populist movement to get votes, even if it can lead to blight, and ruin local economies.

This is the biggest law shift which will first affect major cities: Los Angeles, San Francisco, Long Beach, Oakland, San Diego, Orange County cities.  These sorts of pushes for rent control have lead to blight in neighborhoods like Oakland, South LA and other areas where rents have not provided enough income to provide for basic repairs to properties. 

New ordinances being pushed will affect NEWER buildings not just older properties.  Right now there is a block on 1995 buildings and later having rent control.  So to those of you who are in Los Angeles or San Francisco with newer buildings that are not affected, be careful.   Also smaller buildings even SINGLE FAMILY HOUSES and smaller mom and pop landlords will be more open to rent controls.

There are also pushes in cities like Long Beach and Santa Monica for mandating voucher programs.  Like forcing landlords to take section 8- not giving landllords the option of who they can rent to.

(In some cities like Santa Monica and West Hollywood you have to pay $10-$20,000 to even relocate a rent controlled apartment to take off the market.  For instance if you want to move into your own duplex you would have to pay a tenant $20,000 to move before you can even move into your own hard earned home!!)

http://www.tenantstogether.org/updates/biggest-renter-convening-decades-will-happen-fall In fall they will have the largest Renter's rights meeting ever - pushing for rent control in California cities.  This will spread to other states and take away property owner basic rights.

https://storify.com/TenantsTogether/california-renter-power-2017 multiple organizations, some funded as non-profits are pushing for strict RENT CONTROLS.  They are very well organized groups heavily funded by politicians.

So has anyone ever heard of an actual extension past the 180 day deadline?

 Thanks Dave.  That is great advice.  And sorry for not attaching you to the other question my forum skills are not up to par the best!! 

A lot of this is just hypothetical 

Well the 45 day is just identification of the like-real estate-properties

The 180 days is based on the sale of the property right?