House Hack in Mountain View

[Andrea O.]

Hi All,

I am looking to buy a multifamily (4 units) in Mountain View and live in one of the units. The other units are currently occupied and they have really low rents (almost half of market rents in the area).

Would the rent control disallow the new owner to bring the rent to market value or it only applies to the current owner?

Thanks

[Ryan Avila]

@Andrea O. to answer your question, no you will not be able to legally raise the rents to market rate until the tenants move out. Under AB1482, when a lease expires the owner can raise the rent annually by 5% + local inflation rate or 10% whichever is less. Also due to AB1482 the only way to evict a tenant is “just cause”. Basically, the tenant needs to violate the lease for you to get rid of them.

Also out of curiosity, how are you financing this property?