All Forum Posts by: Daniel Antonetti

I would talk to Redfin.  I believe they have people that

1) Do the logicstical work for making an offer and setting up the paperwork, but do not do onsite work.

2) People that show the houses to buyers, and do open houses.

3) 3rd party agents for properties / areas that they do not work in directly

This initiative qualified for the ballot in 2020.  Does anyone know if it affects commercial - residential properties?  Meaning properties that are zoned for 5+ units?  It only refers to residential being exempt, but it was not clear to me if it only exempts properties with 1-4 units or just 1 unit.

https://ballotpedia.org/California_Tax_on_Commercial_and_Industrial_Properties_for_Education_and_Local_Government_Funding_Initiative_(2020)

@Jo-Ann Lapin We had the lease, which was just signed.  But after they gave us the old lease, they extended it with the tenant at same rent by 1 year.

@Christopher Phillips the issue is not that they extended the lease, it is that they never disclosed that they extended the lease.

I bought a property in Sacramento CA last year.  One of the tenants rented an apartment right after we got into contract for below market.  His rent was $600 for a 2BR 1BA, market would have been at that time about $850 by their marketing package.  We are currently able to rent identical units for $1000.  The lease that was given to me in escrow gave an end date of May 30, 2018.  But when we tried to raise his rent, the tenant said that his lease went until June 1 2019, and gave us his actual lease.   The old manager confirmed that this was the correct lease.  He was given a longer lease for doing "Favors" which I believe was painting and cleaning his unit and maybe a few other things.

But this extended lease was not disclosed during escrow.  I am wondering what my options would be here.  I do not know if this was done by the property manager without the owner's knowledge.  I think that the property manager just did not want to pay for renovating a unit that was going to be sold in a few months.  My damages are between  $4800 and $3000 depending if I use current rents or the stated market rents that they gave.

Has anyone looked into this.  Many cities already have Rent Control, but vacancy control seems ridiculous (You can not raise rents on a vacant unit from the previous rents).

https://www.mynd.co/landlord-journal/costa-hawkins...

I have done 2 commercial purchases.

The transaction is mostly the same, the loan is different.

1) You will probably have a Prepayment Penalty

2) I think they are full recourse (meaning the bank can go after your other property or income if you don't pay)

3) you will probably need more of a downpayment.

4) The bank focuses more on the finances, Cap Rate, Debt Coverage, Rent Roll, where as a 2-4 plex focuses on comparables.

Try to get them on the phone, or ask a Lawyer.  They made a mistake, so they should at least expedite getting you an answer to the accommodation request, or honor the original voucher until this request is resolved.

I think that evicting someone in Oakland (especially a disabled Section 8 tenant) is very difficult, and would be expensive (Unless she is cooperative).

I have a tenant that moved in June 15, 2016, and I would like to increase his rent as of July 1, 2017

The CPI starting July 1, 2016 was 2%

But the new Oakland CPI comes out in July 1, 2017.

So 

1) Can I increase his rent on July 1, 2017 by 2% even though at that point it will be the previous year's CPI?

2) Do I have to wait until I see the CPI for 2017 to know how much I can raise it? And then wait until September 1, 2017 to raise it?

3) At that point can I use the 2% from 2016 as a banked increase and increase it by 4% (Assuming 2017 is 2% also)?

I know that 1031 exchanges are only for investment properties, and that you don't have to pay capitol gains on the first $250000 for your primary residence (if you're single).

So if I have lived in a duplex and rent out the other side for the last 6 years, how does that work for a 1031 exchange.

Can I take out the first $250000 as a primary residence sale, and then use a 1031 exchange on the remainder of the cap gains?