“Inclusionary Zoning” Rule Affecting Los Angeles

Los Angeles has always been strict when it comes to rent control laws and development restrictions. However, it has recently started resurrecting an old 1991 zoning rule, making it even harder for developers. In an effort to push the new affordable housing initiative, Los Angeles has started enforcing a state law that was reintroduced last month. This law gives cities the power to require developers to include affordable housing in new apartment projects. This law was previously invalidated in a 2009 court ruling, but Los Angeles has started enforcing the law for the first time in Westlake once the law was reintroduced last month. The first person to feel the effect is Jade Enterprises, who

New Tax Laws Affecting Apartment Owners!

Starting January 2018, the Tax Cut and Jobs Act (TCJA) has created several changes in tax laws impacting businesses and apartment owners. It is important to consult with your tax professional before implementing any of the changes below. Below is a brief summary of several changes due to the TCJA: SALT Deduction – Apartment owners will lose the ability to take an itemized deduction for all of your state and local taxes. The deduction is limited to $10,000. In the case of property taxes, an individual may deduct such items only if these taxes were imposed on business assets, such as a residential rental property. Home Mortgage Interest – Home mortgage acquisition interest is limited to no mor

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Anie Mayelian  (818) 915-9118 
DRE #0077825

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