All Forum Posts by: Jennifer A.

@Steve Buchanan Thanks for all of your info. I appreciate the idea of stabilized housing and am fine with fair payout.  What fair is, seems up to interpretation.

If there is a lease, does it matter if she's on it and how long she's lived there?  I am feeling like cash 4 keys will be my best option.  Preliminary #'s tell me that going up to $40K won't be worth it, unless the seller contributes.  

@Greg M. I did plan on consulting with an attorney.  I'm just starting to do my legwork now and am not sure what's affected by COVID. The payout is different based on 3 categories (standard, senior/disabled, low-income) and the levels within those categories are based on bedroom #s. Max at 4 bedroom in any of those categories is $21K. Once rehabbed I think rent could go for about $2K.  The price reflected the underpaying tenant & trying to see if seller will negotiate.  

@Bill B. I'm investigating all of this and considering all legal avenues.

@Nicholas L. I'm not sure when their lease is up, still investigating.  Market rent is about $1600-1800.

@Nathan Gesner Prepared to pay but you don't think $40K-$50K is a bit much when they've only been paying $650?  I was prepared to pay just not at that level.  Relocation assistance matrix for 2 bedrooms is max. $15K, so that's where I'm coming from that I think it's unreasonable.  I live in CA not WY, so ridiculous or not, it is what it is for this state.  

@Bill B. I don't think they'd enjoy living that close to the other unit with the amount of work being done to it.  I believe rent increase is only 3% annually, so beginning at $650, it would take years.  I do believe if I or relative moves into the unit, they would have to vacate. 

Overall, it's disappointing but as I said, I'm prepared to walk if we can't negotiate something.  I just feel bad for the 95 year old owner, who will have to go through this with any other buyer.  But maybe someone else is willing to pay what they're asking.  

Hi BP,

I'm in the process of purchasing a duplex in LA.  The owner passed and left the house to her 95 year old sister, who is selling it.  The front unit is empty, but the back unit has been occupied by a couple and their mother for 10+ years.  They pay a ridiculous $650 in rent.  I opened conversations of what's to come - complete renovation of both units, including foundation repair on the front.  I asked them what they were thinking about a relocation fee and they came back to me with $50K.  I told them that was about of my budget and I was looking more at $15K.  They took a few days to think about it and said they could do $40K.  Needless to say, I think this amount is insane.  

Based on a conversation with LA County Consumer & Business Affairs, I was under the impression they qualified for relocation assistance amounts under the guidelines they set.  After speaking with LA County Housing & Community Investment Dept, they said that's not the case.  That only applies if I evict the tenant, which based on my reason (renovation), I cannot evict.  

Has anyone had a similar experience?  Is it true I can't evict (putting aside eviction moratorium)? It seems crazy that a tenant can just stay in the house if a landlord wants to renovate and will only leave if they're given a ridiculous amount of money.  Any insight would be helpful, even if it's to contact a lawyer.  With that being said, if we can't come to an agreement, I'm ready to cut my losses and walk - I won't be giving this tenant $50K.  Thanks!