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Updated over 1 year ago on . Most recent reply

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Scott McManus
  • Multi-family Investor
  • Cambria, CA
0
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3
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Raising rents on a new quad-Plex, how can the tenants be evicted?

Scott McManus
  • Multi-family Investor
  • Cambria, CA
Posted

Summary: we’re looking at buying a quad-plex with existing tenants. We need to raise rents for a decent return, and for that the tenants need to be evicted. What is a legal way in going about this?

There’s a quad Plex were looking at that currently has tenants renting below market. For the purchase to make sense, we would need to have those rents raised more than 10%, above California’s 5%-plus-inflation limit. Our thought (and the most preferable) is to buy the property without the tenancy agreements. We’re uncertain if this is allowed under California code, and I like to ask for clarity.

T
he issue with this solution though, is that the sellers would rather have them attached, in which case we’ll need to deal with evictions. The state is renter friendly, and the options for evicting must either be if family is moving in, if the agreement is broken, or to substantially remodel a unit (to raise rents). What would be options, then, to evict in order to of raise rents?

  • Scott McManus
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