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Updated about 2 years ago on . Most recent reply
how to change tenants to bring rent to market price
Hi, I'm wondering how to change tenants to bring rent to market price. it's impossible to increase the rent for current tenants since there is rent control in place, the increase cannot exceed 5% annually. The current rent is $1500 and market price is $3000. Any input is appreciated.
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Greg M.
#3 General Landlording & Rental Properties Contributor
#3 General Landlording & Rental Properties Contributor
- Rental Property Investor
- Los Angeles, CA
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Greg M.#3 General Landlording & Rental Properties Contributor
#3 General Landlording & Rental Properties Contributor
- Rental Property Investor
- Los Angeles, CA
For $1500 extra a month, hire an attorney. Find a family member to "move in" to the unit for the required year. Renovate the unit during this time and then list for the now $3300 rent level.