All Forum Posts by: Account Closed

Looking for some guidance if I need to draft a new lease if renter goes from year lease to month to month? I'm in California. I'm guessing it may vary from state to state.

Any Austin based investors out there? Looking to get a little more insight from someone with boots on the ground. Thank you.

My question has two parts. 

I have a tenant that signed a year lease, last year. The end of the lease is coming up. They're a good tenant. Auto pay for rents and pretty quiet as far as tenants go. 

Part A. Do I raise the rents when the lease is up? There's no rent control but I'm on the higher end of the spectrum. The rental market in southern California is bonkers. Theoretically I could raise the rents but I'd almost prefer to keep the rents the same and not get greedy for another year locked in ...

Part B. Wondering how to ask/get the tenant to sign another year lease. Do you simply state that's what you expect? Or offer it as an option? One option was to maybe "not" raise the rents if she signs a year lease, then raise the rents slightly if they don't.

Any thoughts would be greatly appreciated.

Looking for insight on which buildings would be better for investing. 1920's era vs 1950's.

@Joshua McGinnis Great intel. I'll look through the links this weekend and then PM you.

Are there any investors or developers in the Los Angles or California area that are familiar with (or expert) with Small Lot Sub Divisions?

They're have been a lot of these popping up in Los Angeles. The appeal is that developers are allowed to structure their properties so that there is no HOA, just a smaller maintenance fee making it more appealing for buyers looking for single family residences.

There's a bit of grey area as an owner/investor because there is no governing body. There are CC&R's but aren't governed the same as a normal HOA found on condo units.

If you are familiar with SLSD and are opening to talking about your experience as an owner, investor and developer let me know. I'd like to learn more about them.

Thanks everyone. Very helpful. I just thought of something. There's an HOA on the unit we have so that money goes towards capital expenses (roof, outside walls, and other things). The maintenance I'm trying to calculate is above that money. (stove repair, busted toilet, etc ...) The 10% figure seems about right.

Thanks @Tyler Wenzel. I just did the math and the .01% is greater than the 150 per month. By a lot actually. I'll run both numbers and maybe just choose something in the middle.

What is the general % for maintenance to be factored in on either a SFR or Multi.