All Forum Posts by: Julia Fergo

I think yes, you have more control on your investment and on how other people spend your money in regards of building upkeep and maintenance...Most of the time people who just own the condos in the building have a very little idea on how overall whole building (roof, pipe system and such) gets maintained.they can spend a lot of money on something insignificant and at the same time not have enough money in reserve for the important stuff...if you know these things and you are on board you have a better control

Hi Leah, this is a very good question I am sutprised no many responses. I was advised that I do write an agreement between Landlord (Trust name, let's say "ABS trust" ) and Tenant (their name) but sign at the end as following : Trustee of ABC Ann Davis... Did you figured something about it? I'd love to know more as I am at the smae situation.

@Joseph M. 100% agreed and being a 'small' landlord in LA for a few years now, I  got to learn very soon how dangerous it is when your business is depended on 'tenant mercy' .... because it is just a matter of them doing a little research online or meet with their free attorney (paid with taxpayer money) and they are confident they can stay 3 months  free-of-rent and cause their landlord so much trouble he will pay them thousands and thousands dollars just to have this all go away... and many agree to seal their eviction records too..so now there are thousands of prior evicted tenants whose records are sealed , they are familiar with the process and know how to work the system!

@Joseph M. you are 100% correct.

Here is the link and this is exactly what worries me: the maintenance will 'eat' our profits and we will have to sell with  losses.  A new generation CA TENANT KNOWS they can cause you so much troubles you will pay just to have a piece of mind ( speaking from experience)..! what does it mean to our businesses? I see all kinds of posts on this website but almost nothing about rent control. I think this should be the MAIN subject here. As a member of California Apartment owners association (CAA) and Apartment Owners association (AOA) and being aware of this extreme measure I'd say I am surprised I don't see hundreds people reply to this post!

https://caanet.org/signatures-submitted-to-qualify...

Learn more about this subject here: And please send to your friends and re-post!

NoHousingFreeze.org.

•  Rent control reduces property values on impacted properties by up to 20 percent.

• if passed, the Housing Freeze cannot easily be changed without another ballot measure.

• Allows rent caps on properties to be locked in place forever, discouraging new housing and encouraging condo conversions
• Opens the door for rent control on single family homes and new construction.

There is more!!! Everybody has to get out of their little bubble and vote NO on prop 10 ..LOL I know I sound very passionate about this subject but so should you, after all it is about our money and profits..:)

@Aaron K...the moment it comes through in November with the pace politicians in CA run to please their voters who , let's face it majority are tenants, the rent control will:  a/ expend to non-rent control areas like Inglewood, Hawthorne and other b/ will expend to Single family houses and condos (not rent control today thanks Costa-Hawkins) 3/ the cancelation of Costa Hawkins would mean (that will take probably few months for tenant-voters to convince the politicians)  that even after the tenant moves out you the landlord can not raise the rent to market price..meaning if the tenant pays 1000 and today the market rent for this property is 2000 you can do nothing but continue to rent 1000+3% which is not enough to cover your yearly maintenance cost as a landlord.. and so your property value would be proportional for this rent and you can never get the value increase as you should...this is the dark picture but very real..

I am surprised that CA investors are so oblivious...rent control is coming to ALL LA and beyond in November - done deal. Repeal of Costa -Hawkins is just a matter of time and homeowners continue to be ignorant while tenant organizations work day and night to get us!

Every sane investor or homeowner should at least vote NO if not donate. 

Here is the link https://noprop10.org/

yey! Found the link an the numbers

 https://www.evict123.com/so/2MENSQcq#/main

Legislative ALERT

ACTION NEEDED NOW!

THE CA ASSEMBLY WILL VOTE BY MAY 31, 2018

Assembly Bill 2343 (Chiu) rewards tenants who fail to pay their rent or who remain in wrongful possession of a rental unit by delaying the unlawful detainer (UD) process by a minimum of three weeks. Specifically, it increases the rent default 3-day pay or quit period to 10 days; increases the cure or quit period for lease violations other than rent default (i.e., illegal subletting, continually disturbing other tenants, or other illegal activity) from 3 days to 10 days; and increases a tenant-defendant’s answer period after a Unlawful Detainer complaint is served from 5 days to 14 days.

Reasons To Oppose:

It increases the number of weeks and months rental property owners must provide rent-free housing to rent-defaulting tenants

It frustrates the purpose of the summary UD process

It protects lease-breaching tenants at the expense of all others

If you live, work, own or manage property in Los Angeles and/or Long Beach areas, please call your Assembly Member as soon as possible and ask him or her to VOTE NO on AB 2343 (Chiu).

STEPS TO FOLLOW:

1) Call your Legislators (listed below) on or before May 28, 2018.

2) When the call is answered:

a. Identify yourself and state you are a member of the Apartment Association, California Southern Cities

b. State that you live, work, own or manage residential rental property in the City or County of _______________.

c. Ask the Legislator to VOTE NO on AB 2343 (Chiu).

d. Thank the Legislator’s staff for taking your call.

PLEASE CALL THE FOLLOWING ASSEMBLY MEMBERS:

Asm. Patrick O’Donnell:

(Long Beach, Signal Hill San Pedro as well as Catalina Island)

Asm. Mike Gipson:

(Carson, Compton, Gardena, Harbor Gateway, Lynwood, North Long Beach, Rancho Dominguez, South Los Angeles, Torrance, Watts/Willowbrook and Wilmington)

Asm. Al Muratsuchi:

(Gardena, Hermosa Beach, Lomita, the Los Angeles communities of Harbor City and the Harbor Gateway, Manhattan Beach, Palos Verdes Estates, Rancho Palos Verdes, Redondo Beach, Rolling Hills, Rolling Hills Estates, Torrance and the unincorporated communities of El Camino Village and West Carson)

Asm. Ian Calderon:

(Industry, La Habra Heights, La Mirada, La Puente, Norwalk, Santa Fe Springs, South El Monte, Whittier and the unincorporated communities of Avocado Heights, Bassett, East La Mirada, East Whittier, Los Nietos-West Whittier, South San Jose Hills, South Whittier, and Hacienda Heights)

Asm. Anthony Rendon:

(Bell, Cudahy, Hawaiian Gardens, Lakewood, Lynwood, Maywood, Paramount, South Gate and a northern portion of Long Beach)

Asm. Autumn Burke:

(Inglewood, Hawthorne, Lawndale, El Segundo, and Gardena, the Los Angeles neighborhoods of Westchester, Playa del Rey, Playa Vista, Venice, and Del Rey, and communities of Del Aire, West Athens, Lennox, Westmont, and Marina del Rey)

Asm. Miguel Santiago:

(downtown Los Angeles, Koreatown, Mid-Wilshire, Boyle Heights, Pico Union, MacArthur Park, Westlake, Little Tokyo and the cities of Huntington Park and Vernon)

Asm. Sydney Kamlager-Dove:

(Culver City, Inglewood, Ladera Heights, View Park-Windsor Hills, and the following areas of Los Angeles: Baldwin Hills, Century City, Crenshaw, Leimert Park, Mar Vista, Mid-City, UCLA, West Los Angeles, Westwood)

Thank you again for all your support in making these important calls.

I have all the representatives numbers but I coudn't post it due to the policy of the website. Pls google the numbers

@Josh Dillingham  you made me smile when you said 'why don't you trust your attorney'... the attorneys are human and  a lot of times they don't know everything and even give away some wrong information...this why you ask and ask...better ask few attorneys

If you call the city of Santa Monica and the condo is build prior to year 1978  they will tell you it is rent control. But Costa-Hawkins act is superseads this and the attorney Dennis Block  (website www.wvict123.com) helped a lot of friends who didn't know about condos not being under rent control ( I didn't know until recently). in fact you have to rush to increase the rent before November, when Costa Hawkins could be repealled and then you would be stuck with the low rent...