Archive for May 2020
Tax Attorneys Expect A Wave Of Coronavirus Tax Appeals
National May 5, 2020 Jonathan Berr, Bisnow Philadelphia and New Jersey Commercial property owners are gearing up to challenge the tax valuations of their investments in numbers not seen since the economic downturn last decade, according to interviews with tax attorneys who specialize in these cases. If successful, these appeals could cause major pain for…
Read MoreNew Government Rules Will Force Landlords To Negotiate With Tenants
27 April 2020 Mike Phillips, Bisnow London Last week the government introduced new rules prohibiting commercial landlords from using the courts to try and force tenants to pay rent for the next 90 days, as businesses try to negotiate the fallout of the coronavirus pandemic. The property industry has pushed back against the measures, saying that…
Read MoreNew Bay Area Housing Law Is Both Polarizing And Sweeping San Francisco Multifamily
April 28, 2020 Dean Boerner, Bisnow San Francisco Lauded by nonprofits as a game changer and decried by some brokers as a nuisance, a new law gives a handful of San Francisco nonprofits first and second dibs on most multifamily properties hitting the market. Courtesy of IMPACT 3225 24th St., a four-unit property acquired by MEDA…
Read MoreLOS ANGELES HOUSING & COMMUNITY INVESTMENT DEPARTMENT – RENT STTABILIZATION GUIDELINES
RSO OVERVIEW If you own rental property in the City of Los Angeles, it may be subject to the city’s Rent Stabilization Ordinance (RSO). Find out if your property falls under this ordinance and what you need to know to be in compliance. Generally, the RSO applies to rental properties that were first built on or before October 1,…
Read MoreL.A. allows tenant suits for evictions
BY EMILY ALPERT REYES Tenants will soon have the right to sue landlords who violate restrictions that Los Angeles has placed on evicting renters during the coronavirus crisis, under a law passed Wednesday by the City Council. Renters could potentially win penalties of up to $10,000 per violation — or $15,000 per violation if the…
Read MoreSen. Julia Salazar proposed a bill that sounds a lot like universal rent control. But the measure isn’t technically about that.
The legislation is about preventing wrongful evictions, but a clause in the measure bars landlords from kicking out a tenant whose rent was increased by an “unconscionable” amount. That means eviction based on nonpayment of a rent increase of more than 150 percent of the regional Consumer Price Index (about 3.3 percent this year), would…
Read MoreThe Pandemic Is Changing How The Next Wave Of Apartment Amenities Will Be Designed
NationalMultifamily May 4, 2020 Dees Stribling, Bisnow National The coronavirus pandemic is forcing a rethinking of the multifamily amenities so important to attracting and keeping tenants in apartments over the last decade. Courtesy of Meshberg Group The coworking space at Wynwood 25, a 289-unit apartment development in Miami completed in 2019. The challenge now is to…
Read MoreU.S. unemployment rate soars to 14.7 percent, the worst since the Depression era
20.5 million people lost their jobs in April, the Labor Department said Friday. Many analysts believe it could take years to recover. Sean McGuire, who was laid off as a restaurant dishwasher, in March at a short-term Airbnb in Portland, Ore. (Leah Nash/For The Washington Post) By Heather Long and Andrew Van Dam May 8, 2020…
Read MoreNew Must-Haves for Real Estate? Touchless Access, Turbo Wi-Fi And Virtual Reality
Los Angeles Technology May 8, 2020 Joseph Pimentel, Bisnow Los Angeles Virtual reality tours, supercharged WiFi and touchless access in buildings are among several tech features that will be more prominent in a post-coronavirus environment, experts say. Bisnow/Joseph Pimentel Brookfield’s Bank of America Plaza in downtown Los Angeles As property owners grapple with how to do business…
Read MoreThe LA Deal Sheet Los Angeles Deal Sheet
May 5, 2020 Joseph Pimentel, Bisnow Los Angeles In a $100M deal, Capri Capital Partners has sold the Baldwin Hills Crenshaw Plaza to the CIM Group. CIM is acquiring most of the 869K SF property, including the mall’s two vacant Sears and Walmart big-box stores, but not the Macy’s store or an IHOP, according to the LA…
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