| LA County Votes to Lower Annual Rent Increases The Los Angeles County Board of Supervisors voted to limit rent increases for tenants in unincorporated areas to 3% or less starting next year. This measure, proposed by Supervisor Holly Mitchell, aims to address the ongoing affordable housing crisis. The new rules will apply to most apartments built before February 1, 1995, and include a provision allowing small landlords to raise rents by an additional 1%. The proposal still requires another vote by the Board of Supervisors. You can read more HERE and read about the allowable rent increases in different parts of LA County HERE. |
 Multifamily Transactions in 2024Recent multifamily sales activity in Greater Los Angeles has declined significantly, with the first quarter of 2024 seeing only $971 million in sales, down from $1.3 billion in the previous quarter. Higher debt costs have constrained sales, shifting the market share towards private buyers, who now account for over 80% of acquisitions. Institutional buyers and REITs have reduced their activity due to increased local regulations and rising operating expenses. Sourced from Costar. |
| Corporate Transparency Act The Corporate Transparency Act (CTA), effective January 1, 2024, requires businesses to report their beneficial owners to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering and other illicit activities. The CTA mandates that most entities formed or registered in the U.S. file a Beneficial Ownership Information (BOI) Report detailing owners with significant control or substantial equity. Non-compliance can result in severe civil and criminal penalties. Businesses must promptly file their initial and updated BOI Reports to remain compliant.Sourced from Jacqueline Yu Law. To learn more, click HERE. |
| In this video, Fred Leeds, owner/operator of 4,500+ apartment units, discusses the current real estate investing landscape, commenting on the impact of tightening restrictions and regulatory changes in Los Angeles. He shares his approach to deal-making under these constraints and offers valuable advice on investing out of state, including location selection and operational challenges. The discussion also covers the cost of doing business in Los Angeles relative to the need for affordable housing. Additionally, Fred provides his perspective on Costa Hawkins and the Justice for Renters Act, exploring their effects on property values in the future. You can view the full video HERE! |
| Are you curious how recent sales have affected the value of your property? Click below for a free property valuation. |
