Successful Vacancy Turnover and the Photographs You Must Take for A.B. 2801
Sponsored by HACLA & Kern Insurance Services
New state laws effective in 2025 require that housing providers take photographs at the inception of a new tenancy, then later at the time tenancy ends to document necessary repairs and then again to document that repairs were made before deductions can be taken from a renter’s security deposit – and these photographs must be kept for 4-years! In addition, new restrictions on the charging of screening fees require that housing providers accept applicants in the order that they qualify, otherwise housing providers may not charge applicants a screening fee.
WEBINAR DISCUSSION TOPICS INCLUDE:
- The “what” to photograph, when and where? Pictures are worth a thousand words and possibly thousands of recovered security deposit dollars.
- Applicant screening fees, and the required order of acceptance of applicants.
- What to deduct from security deposits – the “damages” vs. the “normal wear and tear” quandary. Do I get full cost recovery, or must I amortize the cost over some useful life?
- Security deposit disposition and documentation requirements – avoiding potential claims
- How to face those tough tenant situations after communicating security deposit deductions – perhaps some war stories shared by the panel.
- “What if” your security deposit doesn’t cover the extensive damages to your unit? What next?
- Application fraud stories and tenant screening techniques used by professionals.
- Unit turnover advice – quick fixes and ‘fluffing,” pricing and marketing advice from our experts.
GUEST SPEAKER: Kari Negri, Chief Executive Officer, SKY Properties
Kari Negri is the Chief Executive Officer of SKY Properties in Toluca Lake. Throughout her career, Kari has been at the forefront fighting for the rights of rental property owners. Founded by Kari in 1997, SKY Properties offers hands-on, boutique-level property management at a competitive price for multi-tenant property owners. She serves on the Board of Directors of the Apartment Association of Greater Los Angeles (AAGLA) and is a regular contributor to AAGLA’s “Apartment Age” magazine. She also serves as the Co-Chair of AAGLA’s State Committee and is AAGLA’s delegate to the National Apartment Association.
GUEST SPEAKER: Matt Williams, Principal, Williams Real Estate Advisor
Matt Williams is the Principal of Williams Real Estate Advisors, Inc., a full-service property management company that has approximately $150,000,000 of multifamily assets under management throughout Southern California. While in college he was hired by Capmark Financial Group as an analyst. During the year he was there he analyzed $350,000,000 (7,500 apartment units) worth of multi-family loan requests on property financials for lenders such as Fannie Mae, Freddie Mac and Life Companies. In 2008 he was promoted to an Assistant Vice-President and transitioned out of commercial mortgage banking to apartment brokerage as Real Estate Investment Advisor with the Kitty Wallace Team at Sperry Van Ness. From 2009-2011 he did free-lance consulting work for a local developer. And, then he started his current Williams Real Estate Advisors, Inc. which today currently manages nearly 150 properties. His office is in Santa Monica. In 2021, Matt joined the Board of Directors of the Apartment Association of Greater Los Angeles.
GUEST SPEAKER: Joel Rodstein, President, North Oak Property Management, Inc
Since joining the company in 2005, Joel Rodstein has successfully assisted in the implementation of lease up programs for many multifamily projects. He has also leased and re-signed over 100,000 square feet of commercial real estate which included Retail, Office, and Light industrial spaces. Mr. Rodstein is a licensed Real Estate Broker in the state of California and is a CPM® candidate. He has also obtained his RRP (Repairs, Renovation, and Paint) designation from the EPA which is necessary for all pre 1978 multifamily properties. Joel graduated from the University of California, Santa Cruz with a degree in Business Management with emphasis in accounting.
