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Updated over 9 years ago,
CA Law regarding OMI on a duplex
Hi All,
I'm looking at partnering with a friend on a duplex in CA that is currently occupied, both units. My friend can do an OMI on one of the units. Is this enough to remove the tenants from both units so we can do a remodel and get closer to market rate on the rent of the other unit? I can't mov into other unit as we already own a home and don't want to move.
As it stands currently , the current tenants aren't paying enough rent to make this deal work. BUT, the area is really nice, so the actual value of the building is high.
Any advice is really appreciated!