Can we raise the rent now?

[Ouman You]

Hi guys,

We have a condo (single family) that was purchased 20 years ago. It's currently occupied by three roommates 2 of then are in the lease....we haven't raised the rent for years, and they are under month to month contract. We would like to raise the rent to market value.....we did consult a lawyer he confirmed that we can and that the property is not under rent control. We are a bit skeptical as the condo is situated in Santa monica and we dont want to run to legal issues.

Should we serve the tenants a notice and proceed?

Btw: the unit was never registered under rent control