All Forum Posts by: Eve Mahoney

We own one rental unit in a building where the HOA is responsible for the building-wide hot water heater. Just heard the hot water heater failed and it will be 3 days until they get a new one. What's my responsibility to my tenants?

We own one rental condo in a building in Los Angeles. I've just been informed by the HOA that the building-wide hot water heater failed. It'll be 3 days til they get a new one. What is my responsibility to my tenants?

Interesting.  I never did use it.  My bank has an invoicing feature and I use that.  It's kind of slow to clear payments but it is free and convenient.  My tenants are content with it.

@Greg H.:

>>I get that those of you in California cannot buy a parking spot for those numbers<<

Boy is that ever true.  These prices are blowing my mind.  I'm in Los Angeles.  Wow!!

Thank you so much, such valuable info!

Thanks.  Does your lease say anything about, what if they change their minds and don't move in?  What becomes of the deposit?

Hi, we are about to sign our first tenants!   They won't move in until the end of January.  How do we handle this interim period?  Do we get a deposit to keep the property vacant and stop showing it?  Is there a standard amount?

Thanks in advance to all the experienced landlords who are so helpful!

Well, according to my book, "The tenant pays up to 30% of his monthly income to the landlord, and the housing authority pays the landlord the difference between the tenant's contribution and *what it determines is the market rent each month.* " Italics added.  My concern is "UP TO 30% of his monthly income."

Continuing:

"The housing authority's determination of what is market rent is often low.

The landlord is locked into a tenancy agreement for one year, and can't terminate the tenancy except for nonpayment of rent or other serious breach of the lease.  Even then, 90 days' notice is required."

Having said that - I have a tax client (I'm an accountant) who has a 4-unit building in a low income area.  She has Section 8 tenants and is quite happy with the guaranteed payments.  

I guess it depends if you can make it work for you.

In any case, I am, truthfully, not approved for HUD and not participating in Section 8.

Thank you so much, very helpful.  

I received a response to my ad from someone who said he has a Section 8 voucher.  My ad says nothing about Section 8 and his voucher is 69% of the rent.  I have a book about landlord/tenant laws in California and it says "You have the right to decide not to participate in the Section 8 program without violating any antidiscrimination laws."

So I think my answer to this person will be, "I am scheduling appointments to view the property at xxx.  If you'd like to make an appointment please contact me.  We do not participate in Section 8."

What is the opinion of BP?  Is this a kosher response?

I know it's a legal question and I'm not taking anything anyone says as legal advice, just asking for opinions, particularly in California from anyone who might've been in this situation.

Thank you!