Property Management News
In a ruling that could reshape how landlords approach late rent fees, the Kansas Supreme Court last week upheld a district court’s decision requiring a tenant to pay over $21,000 in late fees for missed rent payments dating back to 2020. The case highlights the power (and potential risk) of enforcing daily late fee provisions in lease agreements. The Case: Daily Fees Stack Up The dispute began when Sherri Foster, a tenant in Prairie Village, Kansas, stopped paying rent for several months in 2020. Foster had rented a single-family home from landlord John Schutt starting in 2018 for $1,900 per month. Their lease included a late fee clause charging $20 for each day that rent remained unpaid... Read more
As of now, California’s AB 2801 law is in effect, fundamentally changing the way landlords and tenants document rental property conditions. The law mandates clear...
Whether you own one or multiple rental properties, a power of attorney is a key component in your estate planning portfolio. Power of Attorney in General A Power of...
The lease is ending, and it’s time for both landlord and tenant to assess the space, checking for damage, worn-out features, and anything that might affect the...
In property management, some of the most important decisions are the ones made quietly, without fanfare, applause, or even acknowledgment. They’re the choices that...
What is SB326 for HOAs and Community Boards? In California, Senate Bill 326 (SB326) is transforming how Homeowners Associations (HOAs) and community boards manage the safety and maintenance of multi-family residential properties. Passed into law in 2019, this legislation directly addresses the structural integrity of elevated exterior elements—most commonly balconies, decks, walkways, and stairways—used by multiple families in condominium buildings. For HOAs, this means a significant shift in responsibilities, risk management, and long-term planning. Why SB326 Was Enacted? SB326 was introduced in response to several tragic incidents involving the collapse of elevated structures in... Read more
As a landlord or property owner, staying on top of your investment’s financial health is essential. Whether you self-manage or work with a property management company,...
After a gradual phase-out, 100% bonus depreciation is making a timely comeback—and the implications for the real estate sector are substantial. For those investing in...
Imagine living in (or renting out) an apartment where rent doesn’t jump hundreds of dollars each year. The price stays steady, the lease keeps renewing, and tenants...
Exterior Elevated Element (EEE) inspections are a vital part of keeping California multi-family buildings safe and compliant under SB721 (for apartments) and SB326 (for...
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