RESIDENTIAL LANDLORDS REQUIRED TO SEND SPECIAL NOTICE TO TENANTS BY SEPTEMBER 30, 2020 OR MAY LOSE THE RIGHT TO EVICT OR COLLECT PAST DUE RENT On August 31, 2020, Gov. Gavin Newsom signed AB3088, providing a framework for California’s residential landlords to preserve their rights to later claim unpaid rent and/or evict… CONTINUE
ADR has an ODR ???
Is this a secret code or TXT abreviation meaning that ADR has an odor? No. ADR stands for “Alternative Dispute Resolution” which is typically Mediation or Arbitration. ODR is “On-Line Dispute Resolution” which is, Mediation or Arbitration being done “on-line.” And it works! Six months ago I’d have said: “Never gunna happen.” Now, I’m a… CONTINUE
PPP Loans (to prevent Company DEATH) and TAXES
The Guvm’nt giveth, and the IRS taketh away! IRS Guidance: No Tax Deductions Allowed for PPP-Paid Expenses Friday, May 1, 2020 On April 30, the IRS released guidance providing that Paycheck Protection Program (PPP) loan borrowers may not deduct costs that are paid for with loan proceeds that are forgiven under the Coronavirus Aid, Relief,… CONTINUE
25% Rent Reduction? Stupid Legislation Proposed
California AB 828 (Ting) is another STUPID proposal by “the Guv’mnt” that’s here to help. The Bill, if passed, would mandate courts to give any tenant that declares they have suffered “increased costs for household necessities OR reduced household earnings.” No showing of proof is needed to demonstrate a “financial hardship” was created by the… CONTINUE
C.A.R. Form Redo – Who Gets the Liquidated Damages?
The California Association of Realtors (CAR), in response to the COVID 19 pandemic, reacted quickly and prepared template forms for its trade association members (I am one) to use in response to the myriad of issues Stay in Place (SiP) orders, job losses, banking chaos, and pre-existing contractual obligations created. The first round of Forms… CONTINUE
Commercial Lease – CoVid19 – Decision Making Flow Chart
Pandemic Lease Chart Follow these steps when analyzing your commercial lease non-rent payment issue. COVID-19 COMMERCIAL TENANCY AND FORCE MAJEURE WHITEPAPER We’ve put together a white paper on “force majeure” and “impossibility” and “frustration of purpose.” —– CLICK HERE TO READ / DOWNLOAD WHITEPAPER —– This whitepaper is not, and should not be construed to… CONTINUE
COVID-19 — IRC Sect 1031 — Timeline Extensions
On Thursday, April 9th the IRS published the IRS published Notice 2020-23 issuing gudiance granting deadline relief for 1031 Exchanges. The Notice from the IRS leaves some issus unclear, but we have summarized key facts below: Who Qualifies? Anyone that sold relinquished property and their 45-day deadline falls between April 1st and July 15th. Anyone… CONTINUE
C.A.R. = CYA ? New CoronaVirus Forms
With millions confined to their homes and face-to-face meetings on hold, as you might guess, real estate transactions (especially residential ones) have been turned upside down and sideways. The California Association of Realtors (CAR) – an association of which I am a 40 year (or so) member – has been nimble, and prepared forms and… CONTINUE
Commercial Tenancy and Force Majeure Non-Payment of Rent Whitepaper
A rent non-payment letter received from a Tenant is not unexpected. Many hundreds of thousands of commercial tenants across the Country are sending similar letters to Landlords (indeed, some national Tenants are sending a ‘template’ to ALL their Landlords), because the Tenants’ customers are not showing up; the customers are Sheltering-in-Place (SIP). The situation Landlords… CONTINUE
Real Estate “Commissions” and Multiple Listing Services Under Attack? A Shot Across the Bow.
Love them, or hate them, real estate commissions are a mainstay of life in the industry. (Just try to say “flat fee” or “hourly fee” and listen to the crickets.) And, of course, real estate commissions are always “negotiable.” And, since they are only paid when the deal is done, they are paid out of… CONTINUE
Breaking Up Is(n’t) Hard to Do
What happens when you’ve inherited property with your Meth-head brother; or now have discovered that the girlfriend you bought the house with – really was from Hell? Neither will voluntarily sell the property, split the profits and move on. Are you stuck? Nope. “The Law” has your back on this one. Calif Civil Code §… CONTINUE
What’s Not in Your Wallet ?
San Francisco press reports have revealed that a security lapse at real estate title firm has exposed 885 million records to anyone that cared to check them out. “A security lapse at First American Financial exposed bank account numbers and other sensitive information contained in 885 million files. A flaw in an internet application allowed… CONTINUE
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