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Updated over 6 years ago on . Most recent reply

User Stats

8
Posts
4
Votes
Ben S.
  • Rental Property Investor
  • Los Angeles, CA
4
Votes |
8
Posts

triplex + garage - renting out garage for additional rent

Ben S.
  • Rental Property Investor
  • Los Angeles, CA
Posted

Hi Everyone, 

Background:

I own a tri-plex in los angeles... rent controlled.. one of the tenants lived there when i acquired the property.. his rent is 750.00 - current rate is approx 3k 

He has full access to the only Garage on the building, an additional parking spot, and a great size yard... I want to take some things away from him.. After reviewing a pdf on Reduction in Housing Services on the HCIDLA website... its RAC 410.. in case anyone wants to look it up.. It shows there is a range for taking away parking from 67$ - $222 (Suggested reduction) and if the tenant is not happy with the deduction they can appeal it with the housing board for an amount decided upon by the housing board. I would hope they would take into consideration that the rent they're paying is already so low..? 

so......

- what do you think the value of a parking spot is worth?  HOLLYWOOD . Difficult area to find street parking, but no limitation on how long you can park once you do.

- what if i were to convert the garage into a non-conforming unit? extra income of $1500 or so 

- has anyone done anything like this before?  

need some advice! Thanks

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