OCTOBER 9, 2019
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The California Legislature has passed AB1482 providing for comprehensive statewide residential rent control and eviction protections and sent it to the Governor for signature, which is expected. Commencing January 1, 2020, AB1482 prohibits a landlord of a residential property from increasing the gross rental rate more than five percent (5%) plus the percentage change in the cost of living, within a 12-month period. AB1482 also requires a landlord to evict a tenant only for “just cause” if the tenant has occupied the property for more than 12 months. AB1482 will be effective only until January 1, 2030.  However, AB1482 also contains exemptions from the rent cap and just cause eviction provisions. Read More On California's Statewide Residential Rent Control Here >
Cell tower leases are gold mines. But it’s easy to inadvertently give away the gold mine when you sell the property where the cell tower is located.
Here’s how not to give away the mine. When you sell property that has a cell tower on it (or a building with a cell antenna on the roof), you have three options:
sell the cell lease and future leasing rights before you sell the property or building;
sell the property or building, but keep the lease;
sell the property and the cell lease together.
Only the first two are good options.
The first option is to sell the cell lease and future leasing rights before you sell the property or building. You can probably get a sales price on the order of 17.5 times annual revenues. This will add dollar for dollar to the sales price of the underlying property or building.
More on Cell Tower Leases Here >
The 2017 Tax Cuts and Jobs Act provided a 100% first year write-off for many types of capital expenditures. Congressional tax writers intended this benefit to be available for leasehold improvements, which would be a boon to retail and restaurant businesses and their landlords. Unfortunately, in the rush to get the tax bill pushed through, there was a legislative drafting error that caused leasehold improvements to be left out of the definition of expenditures eligible for this tax benefit. Worse yet, leasehold improvements were given a longer write-off period (39 years) than under the prior law (15 years). More on Retailer's Ineligibility for 100% Leasehold Improvement Here>
When community association board members hire a transition attorney for their condominium or homeowners association, they may not know exactly what to look for. They may not know much about transition to begin with, or may not know the right questions to ask in order to find the right transition attorney. If your association is looking for a transition attorney, or you are reconsidering the one you have, the following may help you to identify the right transition attorney . . .   More on the Right Transition Attorney for Your Community Association Here>
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