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2024 Annual Rental Housing Report Key Takeaways

Rental Choice

Softening Rental Markets According to the report, apartment growth has stalled. However, rent growth for apartments with professional management fell during the third quarter (Q3) of 2023. Yes, many new apartments may become available according to the 2024 rental market predictions. It dropped from 15.3% to just 0.4%.

Apartment 130
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New Laws for LA Landlords

Real Property Management Choice

This law applies to any lease executed, renewed or extended on or after 1st July 2015. This applies to all landlords and they should NOT use the new license to deny a prospective tenant an apartment during the screening process. Smoke Alarms This law became effective 1st July 2014. According to senate bill No.745,

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LA On-Site Property Manager Compensation 2016

Real Property Management Choice

First of all, the resident manager is an employee and generally cannot be an independent contractor. If an owner wishes to trade off an apartment rent value, the minimum wage value cannot exceed $564.81 Example: Manager (one person) receives a 2 bedroom apartment. hours per month in exchange for the apartment.