All Forum Posts by: Lee L.

@Ewa Reza Cool, thanks for the info! In fact, those very two things you mentioned, are causing some problems. Probably a good idea for me now to review these items and clarify the terms if required. 

@Francis A. Thanks for the response. I never thought to get an attorney to review the leases. They looked ok when I reviewed them myself. It looked like it was on a standard form, with certain stipulations that could be filled in, kind of like on a purchase agreement on a house. Now I really hope I didn't miss something and it's going to bite me later.  

@Josh Prince Great info, Re:

Does this let you force a tenant on MTM into a 1-year lease? Yes.

However, I do not believe you are within your rights to threaten eviction because the tenant will not sign a lease that imposes new obligations or restrictions on the tenant, such as late fees, curfews, non-smoking (when the tenant was allowed to smoke before), etc.

I think if you proposed that a tenant sign a lease like this or leave, and they went to the housing department it would be viewed as coercion or an illegal eviction.

What would be the point of having them sign a new 1-year lease then, if you can't really change things? And say you wanted them to sign a new lease, but the tenant doesn't want to. Then what? 

@Ewa Reza, I stand corrected then. My comment was based on what my friend had planned to do so he could get two units vacant. I'm not sure if he was able to pull it off. I'm not an attorney, so I don't think I should comment further.

Either way, it's not a very easy process through LARSO, and many things can go wrong. My advice is to keep things chummy with the tenant as much as possible. If things go to court, there are attorneys who know every trick in the book to delay or hinder the process. 

@Francis A.  Excellent info!  

Can you elaborate on your point below? I didn't realize you could do this You're allowed to change the lease? How often? What other additional rules are you allowed to impose?  You've been successful doing this? It sounds like you'd end up with a bunch of really disgruntled tenants.

One more thing. If the 4 plex you're attempting to buy has the tenants on month to month (you should definitely know that information), don't forget that you can solve this problem when you notify them that you'll be signing them up to new leases with new stipulations and regulations (IE: Newly non smoking allowed units, Each adult over 18 needs to sign a lease in order to live in the units, No parties after 9pm [which can be huge in Los Angeles] etc etc).

@Eric Zunkley It is also stipulated in RSO that if you exercise your right to take over one of the units as an owner occupier by going through the city (filing the paperwork with city, pay the relocation per schedule, etc.), and then you occupy the unit, if you then rent it out again, the rent goes back to the original rent + 3% a year. You are not free to adjust it to market rent after occupying it. So that really sucks. 

Cash for keys is in most cases the better way to go, in which case the tenant leaves voluntarily, and you're free to adjust the rent to market. There are some buildings that are so screwed up in LA, that it's worth it to pay them 30 grand or more for relocation. 

Also, I believe you can technically evict two through the city -- one for the owner occupier and one for the manager. But I wouldn't suggest doing it this way because they might trash the place. 

I'm in L.A. I almost want to fly out there to see this. You guys are so lucky!

Is this la meetup still happening at Open Space Cafe January 25? 

@Jon Huber That deal looked like it had your name on it. 

 Dude - that sink, with this beveled subway tile available off the rack at Home Depot. I used it in the kitchen, and thinking about the bathrooms too. Not super expensive, no special order required. So nice!

http://www.homedepot.com/p/Jeffrey-Court-Concorde-Dawn-Beveled-3-in-x-6-in-x-8-mm-Ceramic-Wall-Tile-1-pk-8-pcs-1-sq-ft-3-55-lb-99507/202663554