LRS Realty & Management started in 1988. We have seen many changes in the past 32 years due to earthquakes, fires, floods, 9-11, 2008 recession, and now the pandemic. Managing through these different cycles and life changing events has not only made us stronger, but we have come to the realization that no matter what the circumstances we must continue to move forward, perhaps differently, none the less forward.
Once LRS Realty & Management
managed most properties in the same way. The philosophy was essentially the same, depending on the location, age, type of property, and the goals of each owner. We called most of the "shots". After the recession of 2008, many ownerships got involved with most aspects of the business. They asked more questions, wanted more control and made more decisions with us.
The recent Pandemic has created more confusion than anything else. The rulings from the City, the State and the courts keep changing and sometimes contradict one another. The change is fast and non stop. Late last year a new statewide law was enacted AB 1482. This put most of the properties in the state of California under rent control effective the first of January, and along with local jurisdictions which also had their own ordinances in place creating another level of bureaucracy. The City of Los Angeles, the state and the courts, with the best of intentions, has stepped into this crisis to ease the pain of the residents who have, through no fault of their own, lost their jobs, and cannot afford to pay rent. Los Angeles has some of the highest rents in the nation and a serious homeless problem exacerbating the situation. When does the emergency order lift in the city of Los Angeles? As of now I believe it's June, but the real truth is I have no idea and neither does anyone.
Finally, LRS stands for the Landlords Rental Service. We started in this business to service and work for Landlords. The recent laws, orders, ordinances created to help the residents during this tragic time helping to protect the residents from losing their homes, (and understandably so) come at the expense of those who pay the mortgages, the the utilities, earthquake retrofit, large and small maintenance projects.
The question remains who and how can we also help the Landlords?
