All Forum Posts by: Karen L.

I’m a home owner in California looking to rent a room to a coworker. We know each other a bit, so I want to keep the living space hospitable and friendly for both of us. I’ve used a basic roommate agreement in the past. This wasn’t a lease agreement though. More like agreed to house conduct.

Is there any legal requirement to have me (the owner) and renter sign anything? Is it prudent to put anything like house rules, rent amount and due date, etc. in writing? Any suggestions on whether an agreement of this sort is a good idea?

Thank you in advance for your feedback!

Salutations, 

I'm curious if anyone is crushing it in a rent control market with MFU (duplex, triplex, quadplex, etc).  Rent caps and just cause ordinances make it intimidating to enter markets where these restrictions make it challenging to be a landlord. The SF and San Jose markets are great examples of this.  In fact, there is a great concern with the California Assembly looking to make SFUs subject to rent control too.  This will be reviewed within the next two years. 

Is it worthwhile to even consider a MFU in a rent control market, or potentially state? 

Karen

The condos and townhouses I've seen on the market are older. Would a SFR still be a good idea if the state looks to repeal Costa Hawkins and make SFR's subject to rent control?

It's just as bad in San Jose. They just passed a Just Cause ordinance.  I know that BP says house hacking is a great way to start out, but with the tenant-focused  political climate it doesn't seem to make sense for first time investors. Or is it still a good idea to house hack with a MFU in rent controlled areas?

The California Assembly proposed making ALL rental units--even those built after 1995, single family homes, multi-family--subject to rent control.  That would make it statewide.  California is looking worse and worse for even being a home owner.

I'm curious to find out if anyone is looking at investing in duplexes in San Jose since the City Council is looking into making them subject to rent control.  Thoughts?

Is Elk Grove a better location to invest in instead of other Sacramento neighborhoods? Are there any others you'd recommend at a cap rate of 2-6%?  

Hello

Has anyone heard any developments or new homes that will come onto the market soon in the Fort Ord redevelopment?  Or when they will be on the market? 

Karen

Definitely looking for single family homes. Property manager would be the way to go.  Thank you for the tip on going out to see the property before investing.  It would be great if investing in California was an option, but rent control is killing that idea--not to mention the property tax, etc.

Single family.