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All Forum Posts by: Christopher B.

Christopher B. has started 3 posts and replied 11 times.

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