Alex Weiss
@AlTayWeiss
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Owner of a multifamily property management company in Los Angeles. A lot of units under management, some fishing posts and a mediocre golfer.
Los Angeles
Joined January 2023
Looking for a few good independent back up apartment leasing agents in LA. Anyone have some good contacts?
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LA ran out insurance. An insurance company on a building we have gives us habitability coverage. To keep them, we had to do the following: -Replace subpanels -Regate pool -Resurface walkways -Redo water heater rooms -Clear trees -Resurface parking Stupid games, stupid rents.
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LA Mayor race: Beutner = mgmt/efficiency of the city/spending, more housing supply, focus on city costs to landlords. Huang = democratic socialist, stronger tenant protections & social housing, higher fees on owners. Guess who's going to make renting more unaffordable.
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LA doesn't have a housing shortage. LA has over regulation and increased all expenses on landlords who in return have to ask for huge rents to turn profit. All the city council has done is make renting more unaffordable. Tenants, the city & city council have let you down.
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Now insurance comes out, tells us it would be covered, however... Nothing a little bourbon and Dodgers tonight can't handle.
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Wanted a chill catch up Friday morning. Instead I'm really starting to reconsider my fee structure.
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My tenant buy out guy finally had enough. Anyone have a connect for someone who does tenant buyouts in Los Angeles?
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9 months and counting. Owner is still waiting on LADWP so he can get his C of O. Absolutely ridiculous. We are ready to lease this up!
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There is enough money here on X. Let's all pitch in and gift a 20+ unit building to the LA council members so we can all watch the laws shift back. Except John Lee, they have all lost their minds. How can you make real estate laws if you have never even pulled a permit?
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Just closed this 16 unit, 1964 built building for a client of mine. Her parents built this building and it's been in the family ever since. She was finally exhausted of dealing with LA laws that she asked me to broker it for her. Glad I could sell this for a great client!
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We have been taking on more and more commercial property over the last 6 months. Here is a 24,000 SF commercial property we now manage. Multifamily is and always will be our bread and butter, but commercial is so much easier!
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Trying to get a low income tenant approved for a low income unit in LA is comical. You would think the city would push it through since they required the affordable units. It isn't tenant rights they want. It's that they hate landlords. Housing will never be affordable in LA.
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One of the last rights landlords have in LA is cost recovery. We can recoup 50% of the cost for improvements. Cost recovery for this roof has taken 8 months. Anything w/ The City of LA & the Housing Department is comedy at this point. The bags under my eyes are looking rough!
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Lost another best friend. Do me a favor and give your dogs some extra love. Thanks for an unforgettable and incredible 15 years sweet Little Bear!
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The amount of time and energy this car took was exhausting but fun. However, the work is done. If anyone has a classic that they want to sell, let me know! If you have a 1969 Charger, name your price.
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Tenant left in the middle of the night. Was paying $2,050. New rent $2,925. These are the kind of move out that only happen to the influencers on YouTube. A dent in the $80k of upgrades insurance made us do.
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Here is an apartment building we manage in the Hollywood Hills. 1 bed 1 bath we are renting for $3,400. No wonder people my age are not having kids!
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Had a potential client ask if we could manage his building. After seeing this, it’s a pass. If we take buildings on with this much deferred maintenance, we could get dragged into lawsuits. Is sometimes no the best answer in business?
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