The Accidental Landlord Peter McKenzie

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.  

If you found this episode enlightening and helpful, please share it with other landlords who could benefit from these insights. And if you want to partner with Ventura County’s most trusted property management company, let's start the conversation! 👉 https://www.rinconmanagement.com/ 
Summary
In this episode, Peter talks about a new law affecting every landlord in California. From January 1st, 2024, Assembly Bill 12 changes how much can be charged for security deposits. Before, landlords could ask for up to two months' rent for unfurnished properties and three for furnished ones. Now, they're limited to just one month. Peter is worried this might make it tough to rent to tenants who don't have the best background and could mean stricter rental application rules. Finally, he highlights the need for landlords to keep up with changes in the law to avoid problems and protect their businesses.
Takeaways
Assembly Bill 12 limits security deposits to one month's rent starting January 1st, 2024. Staying updated on rental laws is crucial for landlords to avoid legal issues and safeguard their interests. Despite the new limit, landlords can still seek payment for damages that exceed one month's rent.  

In this episode, our host Peter McKenzie interviews Micky Lau-Chandani, owner and broker of Undivided Brokerage in New York City, join us as he discusses the unique aspects of the New York City real estate market, particularly in the luxury rental sector. He then explains the prevalence of rental properties in the city, the impact of rent control and rent stabilization, and the motivations of investors in the market.
Takeaways
New York City has a unique real estate market, particularly in the luxury rental sector, with a high demand for rental properties. Rent control and rent stabilization policies have a significant impact on the rental market in New York City, affecting property values and investment opportunities. Property management in New York City requires a high level of customer service and attention to detail, catering to the needs of busy, high-net-worth individuals. Chapters
(00:00:00) Introduction to Micky Lau-Chandani and the New York City Real Estate Market
(00:01:32) Rental Properties in New York City
(00:04:23) Investors in the New York City Rental Market
(00:06:15) Motivations for Buying Investment Real Estate
(00:07:08) Cost of Rental Properties
(00:10:32) Differences in Renting Luxury Properties
(00:11:35) Rent Control and Rent Stabilization
(00:23:57) Current Rental Market
(00:26:35) Short-Term Rentals
(00:29:04) Micky's experience as an Investor

In this episode, Peter McKenzie interviews Stephen Kenney, the Director of Operations at Rincon Property Management, about the difference between normal wear and tear and damage in rental properties. 
Takeaways
Determining the difference between normal wear and tear and damage can be challenging for landlords and tenants. Lease agreements and guidelines can help clarify the responsibilities of landlords and tenants when it comes to property maintenance. Navigating small claims court can be time-consuming and may not always result in a favorable outcome for landlords. Documenting the condition of the property at move-in and move-out can help resolve disputes over damages. Proactive maintenance can limit the risk of extensive damages and financial losses for landlords. Chapters
(00:00:00) Introduction and Background
(01:25:00) The Difference Between Normal Wear and Tear and Damage
(03:11:00) The Challenges of Determining Normal Wear and Tear
(05:42:00) Disagreements Between Landlords and Tenants
(06:23:00) The Role of Lease Agreements and Guidelines
(09:20:00) Navigating Small Claims Court
(12:20:00) Importance of Move-In and Move-Out Documentation
(16:34:00) Examples of Normal Wear and Tear vs. Damage
(21:40:00) Considering the Big Picture
(25:40:00) Limiting Risk with Proactive Maintenance
(27:27:00) Conclusion

In this episode, Peter McKenzie sits down with Danaus Chang from awning.com to tackle a burning issue in today's real estate market: the soaring costs of home maintenance.
With a mix of personal anecdotes and expert insights, they delve into how the pandemic, supply chain disruptions, and evolving market dynamics have turned property upkeep into a costly affair.
Whether you're an accidental landlord or a seasoned investor, this conversation is packed with strategies to help you navigate this high-cost environment.
If you found this episode helpful and are grappling with the rising property maintenance costs, share it with fellow landlords who could benefit from these insights. For more personalized advice on property management, visit https://www.rinconmanagement.com/
 
Key Discussion Points:
Danaus's unique journey from accidental landlord to tech innovator [Starts at 00:10] Unpacking the surge in maintenance costs – it's more than inflation [05:33] Strategic tips for landlords wrestling with rising expenses [07:50] The tech edge: Simplifying property management in a high-cost era [24:52] Real stories, real lessons: Danaus shares cost-saving wins and fails [14:24]

Peter McKenzie sits down with Christy Silva from Little Home Builder, diving into the world of Accessory Dwelling Units (ADUs). This engaging conversation sheds light on the rise of ADUs in the housing market, especially in high-demand areas like Ventura.
Whether you're a seasoned landlord or just stepping into property management, this episode is packed with practical advice and current trends in the ADU space.
Loved the insights in this episode? Spread the word and share it! And if you're seeking expert assistance in managing your properties, don't hesitate to start the conversation at https://www.rinconmanagement.com/contact


Timestamps:
Growth and Appeal of ADUs: (00:20 - 02:03)
Costs and Benefits of ADU Construction: (04:01 - 05:45)
Navigating Legal Changes Impacting ADUs: (07:10 - 09:32)
Practical Applications and Property Management of ADUs: (10:43 - 13:08)
Future Trends in ADU Development: (15:39 - 18:59)