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Updated 7 months ago on . Most recent reply
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RSO owner occupied unit, Return to market rents after 24 months ?
I am looking to purchase a multi-unit property with 3 units. I am trying to owner occupy one of the units and live in it for 2 years, but Im not sure on the rules after the 24 months of owner occupancy period is over. I see from LA RSO guideline documents that "The rent level on a rental unit, after the family member or resident manager terminates
occupancy, shall be restored to the rent level prior to the eviction, plus any automatic increases
that are due. The unit is not decontrolled when the family member or resident manager vacates,
and the rent may not be raised to the market level.", but I am unsure if that only applies if we were to stay in the unit for less then 24 months.
We would ideally like to live in the unit for 24 months, do some improvements and re-rent the unit at market rates, but Im not entirely sure what the rules are here.