article thumbnail

Navigating Zoning Laws: Facilitating ADU Development in Urban Areas

Beach Front Property Management

These reforms included: Banning minimum lot sizes for ADU construction Eliminating impact fees for smaller ADUs Easing parking requirements Removing owner-occupancy rules Allowing multiple ADUs on certain lots In 2023, Los Angeles County issued over 45,000 ADU permits, much more than the 10,000 permits issued statewide in 2018.

article thumbnail

New 2025 condo and HOA laws for U.S. states

Condo Control

2023 California Residents can request to receive electronic communications Civil Code 4040 was amended at the beginning of 2023, making it mandatory for associations to deliver documents according to the preferred delivery method specified by the member. The policy must be posted on the POA’s website.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Reserve fund requirements for Canadian condominiums and stratas

Condo Control

Some items that are added to the report include the: Roof Siding Parking facilities Utilities Electrical systems Heating and cooling systems Plumbing Balconies and patios However, this is just an example. Furthermore, effective November 1, 2023, the owner developer of a new strata must contribute more to the contingency reserve fund.

article thumbnail

Tips to Minimize Tenant Turnover

American Apartment Owners Association

Accordingto a report from Zego, the average cost of turning over a rental unit was $3,872 in 2023. Utilize GenAI to understand context and sentiment in communications, enabling more nuanced and personalized interactions. Leverage AI-powered solutions to provide instant, round-the-clock communication.

Tenant 246
article thumbnail

2024 Annual Rental Housing Report Key Takeaways

Rental Choice

However, rent growth for apartments with professional management fell during the third quarter (Q3) of 2023. Only 1% of the markets reported a rent growth of 10% in Q3 of 2023. million) spent over 30% of their income on utilities and rent. Roughly 653,000 people were experiencing homelessness in January 2023. from 2019.

Apartment 130
article thumbnail

6 Property Management Tax Mistakes: Are You Making Them?

Buildium

For example, you can deduct the rent and utilities you spend for an office or other workspace outside of your home. Clean Vehicle Credit: You may qualify for a credit of up to $7,500 if you use a plug-in or fuel cell electric vehicle that you bought in or after 2023.

article thumbnail

Real Estate Crowdfunding: A Game-Changer for Rental Property Owners and Managers

Real Property Management Chicago

Crowdfunding utilizes the extensive influence of social media and specialty platforms (such as Fundrise, RealtyMogul, and Crowdstreet) to connect investors and entrepreneurs. billion in 2023 and is projected to grow from USD 1.60 Investors provide modest sums of money in exchange for a share of the propertys income or equity.