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Updated almost 8 years ago on . Most recent reply
Is This Property Rent Controlled?
So I viewed a property today in the North Hollywood area and I was confused by what the person showing me the property said.
Basically, the property I viewed had one unit in the front (from before construction) and two units on top of each other behind that unit which was built brand new. So ultimately the seller bought the property with one unit in the front and renovated it along with adding two units behind it. When I asked about rent control issues with the property they said that since the front unit (built somewhere in 1920s) was vacant when they built the two units behind it, it is not subject to rent control?
From my understanding, as long as even a single wall remains from the old property, it's build year is the same as the original unit (1920s)?
Or I asked if she meant that the initial rent isn't rent capped but it will be after the tenant moves in but she wasn't sure and said all she knows that this property is not rent controlled...
Can anyone tell me if this lady is right?
Most Popular Reply
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You can check a property's rent control status at http://zimas.lacity.org/ For what its worth, if I understand the Code and the status of the property in question, even if it's rent controlled (a lot of North Hollywood is) the units are vacant so at least your starting point for rents can be at market rate. If the units are occupied, its becomes more complex and limited as to the rate increases and you're dealing with rates likely under market.