All Forum Posts by: Leona Usaty

@Leona Usaty I can’t believe there are still cities with eviction moratoriums… wow. I feel for you my advice in this order:

1. Move - get out of California

2. If you can’t, pass the headache on down. Government always seems to make things worse every time they get involved i.e rent control. The one thing government just can’t seem to figure out is that investors will ALWAYS outsmart them and mainly (not solely) because investors can move much faster than legislation —- investors are proactive and legislation is reactive so…. What does this mean? … well since your risk as an investor has just increased courtesy of the state of California your should adjust accordingly to reflect that risk:

A. Tighter rent screening standards

B. Increase tenant qualifications

C. Increased fees across the board, application, pet, cleaning, etc etc.

D. Different lease terms I.e. month2month as opposed to yearly; all utilities now tenant responsibility; appliances now tenant responsibilities; etc etc.

Someone on here posted that they couldn't evict a tenant but instead sued them for the rent owed in small claims court. Since the eviction courts were either backed up or not working at all, this is a way to maybe scare your tenant a little. Getting served a court order by a Marshall may let them know you mean business. I never tried this personally but thought it was an interesting tactic. 

@Leona Usaty this is when you move next door to us in Texas.  The wife and I will has some BBQ and sides ready!

I have no idea how yall handle that crap.  I would find away that my non paying tenants were involved in gang activity and somehow just left.

@Leona Usaty and @Jinyu Shao - I feel for you! @Nathan Gesner hit the nail on the head--anyone who is not paying rent today is choosing to forego the many available jobs out there. Even in NJ, our elected officials ended the COVID landlord restrictions some time ago.

The answer to your question of who will protect the landlord? The landlord--by choosing where to invest recognizing that the regulatory environment can make or break you.

Best wishes.

That sounds like a headache

Does anyone have experience with non-pay rent tenants for 2+ years? Tenants currently under LA County's Tenant Protections.

The City's eviction moratorium is scheduled to expire on January 31, 2023, except if tenants cannot pay their rent due to COVID-19 for rent due December 2022 and January 2023.

The LA county and city protect tenants, that’s is good, but who is protected the Landlord? If the landlord defaults on a mortgage due to default by Tenants. Any comments or recommendations will be very helpful! Thanks

The offer must be made to the r.e. agent representing the owner (the bank).

 Welcome! I split my time between Dallas and DTLA. It's definitely a culture shock. I'm looking to buy there when my daughter graduates in 2025, but the cost is giving me a heart attack. Have you found that rehabbing distressed properties is difficult due to the building requirements and laws? I don't want to purchase a fixer-upper and have to live in a hotel for a year waiting for things to be approved.