The proposed “Subway to the Sea” will extend the Red Line from the current terminus at Wilshire Blvd. and Western Ave., heading west along Wilshire Blvd to Beverly Hills, Century City, Westwood and UCLA and on to the Pacific Ocean in Santa Monica, the Wilshire corridor subway will form the essential high capacity trunk line our public transit system needs, interconnecting with a vastly improved transit bus system and an expanding network of light rail lines. Find out more from the Subway to the Sea Coalition.

Although Senator Kuel placed her bill (SB 464) in the inactive file on June 7th, that doesn’t preclude it being reintroduced in 2008. The bill sought to place the state’s problem of affordable housing squarely on the shoulders of landlords and private property owners. Section 7060 of the Government Code basically says that no public entity can force a residential property owner, who has owned the property for at least three years, to offer or continue to offer the property for rent or lease. SB 464 would limit those protections. But, while a lack of support for this bill lead to its withdrawal this year, I am advising clients and their advisors to watch for a possible reintroduction next year.

As a Los Angeles based Commercial Realtor®, actionrealtysales is committed to providing the highest level of professional counsel to every client, in every engagement. It is important that sellers, and/or their representatives come to the engagement with awareness of some of the basic guidelines and terms involved in the transaction. Here are a few questions that allow you to test your “Real Estate IQ”: (more…)

Mandatory Access to Commercial Property for Telecommunications Providers?

How do the contracts between commercial or multi-family property owners affect Tenants? The FCC is asking for your comments on an issue that could affect who has access to your property.

Start with a good accountant. An accountant will let you know the tax benefits of various holding entities (corporation, LLC, TIC, trust) as well as what is deductible, tax savings, special considerations such as how to report payments to vendors who are not incorporated, etc. (more…)

1. Know the local market and keep up with changes. If you are not directly involved in the leasing process, talk to other landlords, realtors and property managers to find out if rates are declining or rising (more…)