Originally posted by @Christopher B.:
Hi BP community,
I am a new landlord, I purchased a property in 2015 with a tenant paying way below market rent. When I purchased I advised the tenant that it is my intent to occupy the property after the lease expires. Per California code, I gave the tenant a 60 day notice, and a 30 day notice. The lease expires in 11 days. Yesterday (12 days till lease expiration) the tenant informed me that their new apartment/ condo won't be available for them to live in starting June 17. 17 days after lease expiration. I have been taking a big loss on the property for 6+ months.
Is there anyway legal way I can increase the rent on the tenant for those 17 days to something like what Air BnB rates are going for in the area -~$100 a night?
I see that California law generally requires 30 day notice if increasing under 10%. 60 days if over 10%. My tenant sprung this on me with 12 days left. An Eviction will take time and I might not collect anything. Tenant's Current average daily rate is around $42. Market is about $60 based on 30 day month. My intent is to occupy the property.
Please help!
-In California
Hi Christopher,
Since the notice has been given, the lease is ending. You can enter into a brand new rental agreement and charge whatever you want. So, if you're willing to let them stay until June 17th, you could write up something like this:
Dear Tenant:
Your current lease ends May 31st. You have been given the legally required notice of 60 days to vacate on that date.
You have requested to be allowed to live in the unit until June 17th. I have enclosed a new rental agreement for you to sign that would begin June 1st and end June 17th. It specifies that you agree that for every day that you are in the unit beginning June 1st, you will pay $_________ per day.
If you are in the unit beyond June 17th, you agree that you will pay $_________ per day for every day you are still in the unit beyond June 17th. You also agree that you will be in violation of this new rental agreement, and that eviction proceedings will begin June 18th, 2016.
If you do not agree to sign this new rental agreement, then the termination date of May 31st stands, and you must vacate by May 31st or face eviction proceedings.
If you decide to sign the new rental agreement, you must sign it and deliver it to me by __________________ in person at _________________________ during the hours of ____________________ (or whatever will work for you).
Sincerely,
You
Also, you need to IMMEDIATELY, give them notice of their right to an initial inspection. Do this now and do it correctly, or they will have to right to get all of their deposit back, even if they leave the place trashed.
See the blue section:
http://www.dca.ca.gov/publications/landlordbook/se...
Buy this book:
http://www.nolo.com/products/the-california-landlo...
Enjoy your new home!