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Updated almost 2 years ago,
Inherited tenants and rent increase under Los Angeles rent control
Hi there!
I'm considering offering on a 3 unit property. Two units will be vacant upon closing. I plan to fix up one and rent at market, then house hack in one of the units. The tenant that will be remaining is paying $876 per month. The unit after some updating could easily go for $1,800. My question is how difficult, under Los Angeles rent control would it be to raise the rent after the lease is up? Is this a deal you would pass on? I think it's a great deal, so long as I can raise rents to market. Thoughts?