All Forum Posts by: JC Conchas

Has anyone had any luck having home warranty repair or replace floor heaters in 4 unit building?

We just closed on a 4 unit building in Southern California. Each unit is 1bedroom/1bath, they have floor heaters, that are installed under the floors in the crawlspaces. When we did home the inspection the tenants said they have never used them. Now looking into checking them, I couldnt find any with a wall thermostat to control them.

Any suggestions on how I should handle this with the home warranty? Would this item be covered? Should I just call and say, help the heaters dont work?


Thanks
JC

Disclaimer:
I am not a lawyer:

We inherited property from father in law.
You need to have property appraised at the time of his death to establish their valve at that point in time. You will then get a step up in cost, based on the time of his passing. So that if he bought them for $50k and they appraised at $150k and whenever you decide to sell them, if they sell for $200k, you only pay capital gains on $50k from when they were appraised and you inherited them and what you sold them at. 

Again, I'm not a lawyer/cpa/accountant/mathatician. But this is what happened to us. 

Good luck and sorry for you loss

Chris,

I always write them separate check. It's easier for my booking keeping. Track income and expenses easier. So I will have something to show when you write off the expense.

JC

Josh,

I feel your pain. I'm in Southern California, we have our own areas of rent control. It's hard to convey just how much the RSO (rent control board) is, pro-tenant and anti-lanlord, to out of state investers.

We inherited a condo in a rent controlled area, and didn't know it was rent controlled. We rented it out for 2 years, then we decided to move into the condo. So we gave the tenants 60 day notice to move, because they had been renting for over 1 year. The tenants contacted the RSO, they sent us a letter saying it was an illegal eviction. Long story short. We had to pay them $7800 to move, and we sold the condo.

We avoid rent controlled areas like the Black Plague.

Good luck

JC

auren A. Inves

Lauren A.

The Rent Stabilization Board (formally Rent Control Board) is terrible for landlords. They are against property owners and property owners rights. The tenant has all the rights. Read up on the rules and regulations of the RSO. If you handle something wrong, the RSO will send you a letter and may refer the matter to the State Attorney office. 

We inherited a property covered under rent control, that we didn't know was. If we did we would have sold it. But when we gave the tenant 60 day notice to move, they reported us to RSO who, sent us a letter and found out had to pay them $7800, in relocation costs, to move out. We wanted to move in, still had to pay them. Even when we sold the property, that is not a "legal" reason to evict someone. So we did pay them to move $7800 then fixed the place and sold it. 

The amount of relocation costs you have to pay to buy someone out, it's called "cash for keys" depends on how long they have lived in the unit. If the tenant is OVER 60, you can not force them to move under any circumstances.  Except of course doing something illegal, against the law. But it's very difficult.

God luck, read, read, and read some more.

JC

auren A. Inv

In California, Fair Housing says 2 per room plus 1. So

1bed = 3 people

2bed = 5 people

A sinlge/bachelor unit is 2 people. That's because you can not discriminate against children. A can not rent a place in their own, so it would be a single parent. Parent and 1 child

JC

Hi,

Thank you for the details of the inspection. I feel much better knowing what they'll be looking for, and am pretty confident it should pass and it shouldn't be a big inspection. 

JC

@Justin Stanfield

Hi Justin.

We just closed on a 4 unit rental property with a city pre-sale report. There is no record of a reroof so the city is asking for a roof contractor or equivalent to certify the roof is in good condition and that there are no layers under current roof and were removed.

My home inspector noted in home inspection report that it has a little less than half of it's serviceable life left. 

How is this roof inspection done and what would it cost.

I'm in Southern California, South Gate, and would like any local help. 

Thanks

JC

Double check the property is not rent controlled. We got out of rent control condo, the rules are completely against property owners. 

Would never buy rent control area again.

JC