The Accidental Landlord

🎧 In this episode, Peter McKenzie interviews Catrina Craft, a certified public accountant, about the tax benefits of real estate investing. They discuss the importance of understanding tax laws and strategies for maximizing deductions. They highlight the benefits of cost segregation studies, which allow investors to accelerate depreciation and reduce their tax liability. and they also explore the advantages of short-term rentals over long-term rentals for high W-2 income earners. 

🌟 If you want to partner with Ventura County’s most trusted property management company, let's start the conversation! 👉 https://www.rinconmanagement.com/

[Connect with Catrina]

-Online Course: craftmorecash.com/realestatewealth

-Instagram: www.instagram.com/catrinamcraft/

-LinkedIn: www.linkedin.com/in/catrinamcraft/

🎧 In this episode, Peter provides a quarterly market update for the rental market in Ventura County. He discusses the significant increase in the number of available rental properties, which has led to longer rental times and the need for landlords to adjust their strategies to remain competitive.

🌟 If you want to partner with Ventura County’s most trusted property management company, let's start the conversation! 👉 https://www.rinconmanagement.com/

In this episode we chatted with George McCleary, he became involved in the squatting topic after a video he made about squatters in Portland went viral. George explains the difference between holdover tenants and squatters, with squatters being individuals who enter a property without a contract and claim tenancy.

He also shares the challenges faced by landlords in dealing with squatters and the limited options available for eviction. Finally, we discussed the difficulties of being a landlord in tenant-friendly areas like Oregon and California, but highlighted the benefits in these markets like high rents and high appreciation.

🌟 If you want to partner with Ventura County’s most trusted property management company, contact us! 👉 www.rinconmanagement.com

➡️ George McCleary's services and contact:

503-332-1610 mobile

McCleary Realty & Development: mcclearyrealty.com

Title monitoring starting at $2.25: titlefrauddefender.com

Instagram: instagram.com/mrd_portland/

Takeaways

• Having an alarm system and monitoring vacancies can help prevent and detect squatters.

• Legislation varies by state, with some states implementing laws to empower law enforcement to remove squatters more easily. Dealing with squatters can come with potential risks and liabilities, but trained professionals who follow proper procedures are less likely to encounter problems.

• There is a need for more awareness and education about squatters and deed fraud to protect property owners and prevent these crimes.

Today, we discuss the impact of the sharing economy on rental properties. 🎧 Join our host Peter McKenzie as he explores the different strategies landlords can adopt, such as short-term rentals, mid-term rentals, and long-term rentals.

Takeaways

• Landlords need to stay informed about regulatory issues and leverage technology to streamline their operations.
• Consider the impact of different strategies on the community and neighborhood when choosing a rental strategy
• Short-term rentals provide higher income potential but require more work and can be subject to regulatory challenges.

Partner with Ventura County’s most trusted and top-rated property management company: www.rinconmanagement.com/

A Santa Barbara landlord/investor has recently faced criminal charges for evicting several tenants in order to make crucial electrical and safety renovations to his property, allegedly not complying with Santa Barbara's Tenant Protection Ordinance

Join our host Peter McKenzie as he breaks down why landlords need to be more cautious than ever before, why the city is trying to set an example for all landlords with these criminal charges, and what can be done to improve the housing situation without driving landlords out of business and exacerbating the problem

Takeaways

1. Landlords face increasing risks as more legislation is passed, you must take these laws seriously

2. It is crucial to keep detailed records and follow the correct procedures

3. Consider partnering with a professional property management company to navigate the complexities of the laws 

Resources

[Article] Santa Barbara Files Charges Against Property Manager Over Just Cause Evictions 

Partner with Ventura County’s most trusted and top-rated property management company: www.rinconmanagement.com/

In today's episode, Peter interviews Daryoush Zolfaghari, a civil litigation attorney, about his experiences representing tenants in cases against slumlords. They discuss the importance of treating rental properties as a business, the misconceptions about landlord-tenant relationships, and the consequences of being a bad landlord. 

🌟 Partner with Ventura County’s most trusted property management company 👉 www.rinconmanagement.com

DRE Lic# 01951188

The battle between landlords and tenants has never been more intense, with each side presenting its own arguments. But how much of their claims are true?

In this episode, our host Peter McKenzie debunks five common myths about landlords that many tenants believe absolutely. He aims to break down these stereotypes and promote a healthier landlord-tenant relationship.

🌟 Partner with Ventura County’s most trusted property management company 👉rinconmanagement.com

Takeaways:

1. Landlords and tenants are not natural enemies; they both want a stable housing market and can have a positive relationship through clear communication and responsible behavior.

2. Landlords are not solely responsible for the difficulty in buying a first house; there are various factors, including government regulations and the cost of building housing.

3. Most landlords are not big, greedy corporations, but rather individuals or small mom and pop investors.

🌟 If you want to partner with Ventura County’s most trusted property management company, contact us! 👉https://www.rinconmanagement.com/

93% of all interviewed housing providers reported being victims of rental fraud in the past twelve months. Join our host, Peter McKenzie, as he dives deep into the daily consequences that landlords and tenants face due to the rise of rental fraud.

He also offers practical advice on how landlords can avoid becoming victims of rental fraud by using ID verification technology, going the extra mile in verifying income and employment status, and hiring professional property management companies.

Episode Takeaways:

1. After the COVID-19 moratorium, rental fraud skyrocketed, taking advantage of the tenant protections in place. Nowadays, rental fraud is still on the rise and is becoming more sophisticated.

2. We consider rental fraud to be one of the factors still driving rent prices up, affecting both housing providers and tenants alike.

3. Investing in ID verification technology, thoroughly checking income and employment status, and partnering with professional property management companies are key steps landlords can take to protect their investments and continue to provide affordable, high-quality housing.

Resources:

• Article: Why fraudsters may be partly behind your high rent
• ID verification software: Findigs

Join host Peter McKenzie as he discusses the new Senate Bill 567 implications for landlords. He also explores the California Tenant Protection Act of 2020 and how SB567 is designed to close some loopholes in the “no-fault” causes for terminating tenancies.

🌟 If you want to partner with Ventura County’s most trusted property management company, let's start the conversation! 👉 https://www.rinconmanagement.com/

The 3 takeaways:

1. Senate Bill 567 strengthens the Tenant Protection Act by imposing additional requirements on landlords seeking to terminate tenancies based on “no-fault” causes.
2. The law introduces new enforcement mechanisms, including holding owners liable in civil action if they attempt to recover possession of a rental unit without following specific procedures.
3. Several types of properties are exempt from SB567; always consult with an attorney to ensure you are in compliance.

Tune in 🎧 as Peter provides a market update for the first quarter of 2024 in Ventura County. He discusses the number of available rental properties, average rent prices, days on market, and vacancy rates. He also introduces the consumer price index (CPI) and its impact on rent increases for properties subject to rent control.

🌟 If you want to partner with Ventura County’s most trusted property management company, let's start the conversation! 👉 https://www.rinconmanagement.com/ 

Episode Takeaways:

• The number of available rental properties in Ventura County has slightly decreased compared to the previous quarter.
• The consumer price index (CPI) affects rent increases for properties subject to rent control.
• Days on market for rental properties have significantly reduced, indicating properties are renting out faster.