All Forum Posts by: Kevin Lefeuvre

New ordinance will consider failing to timely complete repairs by the landlord as an act of harassment to the tenant. 

Yes. That! Harassment.

And the list of all the other synonyms to harassment is long.... See the link below.

And then they wonder why there are not enough homes in LA.

https://ktla.com/news/local-ne...

I am a landlord in LA with a property perfectly well located for AL. I am not interested in running or being involved in the business. Just looking to collect my rent :-)

Can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Many thanks in advance.

I own a large single family residential property in LA . AL operators called me to lease my property. I have never done any lease like this so far. Came here to learn.

Unlike most people here, I am not interested in running or being involved in the business. I'm just a property owner looking to deal with an operator, just collecting my rent.

Can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Many thanks in advance.

I own a large single family residential property in LA , and was contacted by AL operators to lease my property. Came here to learn.

Unlike most people here, I am not interested in running or being involved in the business. I'm just a property owner looking to deal with an operator, just collecting my rent. Flat rent.

Can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Many thanks in advance.

@Faiz Khan @Sendhil Krishnan

I see you are in California, so maybe you can clarify a few things for me, if you would:

I own a large single family residential property in LA . I posted an ad for rent and the first 2 calls are from businesses who provide care home or assisted living servicing. I have never done any lease like this so far. Came here to learn.

Unlike most people here, I am not interesting in running or being involved in the business. I'm just a property owner looking to deal with an operator, just collecting my rent.

Can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue (property is residential single family)?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market? more?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Many thanks in advance.

@Kevin Vandenboss   @Gene Guarino

I own a large single family residential property in LA . I posted an ad for rent and the first 2 calls are from businesses who provide care home or assisted living servicing. I have never done any lease like this so far. Came here to learn.

Unlike most people here, I am not interesting in running or being involved in the business. I'm just a property owner looking to deal with an operator, just collecting my rent.

Can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Many thanks in advance.

I just bought a rather large single family in LA, posted an ad for rent and the first 2 calls are from businesses who provide care home or assisted living servicing. I have never done any lease like this so far.

can anyone tell me what are the things which are different compared to the traditional residential lease in California?

- Do I need a commercial lease ?

- Is there a potential zoning issue?

- Do I need a different insurance than the residential income property insurance?

- What is the rule of thumb for the rent (+15% above market?)

- What are the downsides for the landlord, compared to a traditional residential lease to a family for instance?

Try asset based lending, portfolio loans, where all they care about is the property. LTV is low though, around 60%, but as long as the property is insured they are ok. Many smaller banks and commercial banks offer asset-based loans, including Chinese banks. Good luck.

@Andrew M.

@Andrew M.

@Andrew M.

@Andrew M.

@Andrew M.

@Andrew M.

@Andrew M.  

@Gary F. @Thomas Crotwell

@Thomas Crotwell

Little practical application? Hmm. If the observations are confirmed, I won't sell any property even marginal when they are going+10% per year. Will buy that property which is borderline if I know by coe I have already made a few % appreciation. Just to name a couple elements of differential strategy. I fully agree though "who knows". It's the point of the conversation.