All Forum Posts by: Harish V.
Harish V. has started 3 posts and replied 191 times.
Post: Bad Tenants Want Lease Renewal
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Quote from @Dan H.:
Quote from @Cathy S.:
Hi everyone.
I would like some suggestions on how I should approach this situation. I have a set of tenants who have been living in my rental for over a year (before I even bought my property) and their lease with me is ending end of next month.
During the last 12 months they have only paid rent three times. The other 9 months I got the rent directly from the city of San Diego through the Covid assistance program thankfully. These tenants only paid their rent on time a handful of times, are terrible at communicating and wouldn’t tell me that they weren’t going to pay rent before applying to the assistance program, and again did not pay rent for 9 months.
I texted them today asking what their plans are for when their lease ends end of next month and they wanted to a new lease “so they can save for a house”. I want them gone and obviously don’t want to renew. If I do nothing, their lease automatically becomes month to month (with an increase of $200/month on rent). If they don’t pay rent, I can just give them a 30 days’ notice and start the eviction process.
What should I do about this situation? Should I just put them on month to month or is there another way for me to get them to leave?
I see no replies from LL in CA. California is more tenant friendly than most states and have laws that may apply.
Is this a SFR? In CA all multiplex units are rent controlled and lease can only be terminated for a few reasons that are spelled out in the rent control regulation.. @Celine Crestin comment that landlord has right to choose not to renew lease is not accurate in CA for multi unit properties.
Assuming the unit is SFR, you can choose not to renew the lease at lease end. With over 1 year of tenancy, you are required to give the tenant 60 days notice.
good luck
I concur, not many replies from CA. CA is Tenant friendly. Also there have been recent changes in laws allowing for limitations on rent and just cause termination. It would be most prudent to get professional advice.
If you want to study yourself, I suggest look at following
1. Is your property subject to rent control regulation AB 1482. Even for SFR there are rules - you may have provided notice by specified date or included in renewal.
2. If tenant got rental assistance, one condition for 100% assistance from state was that tenant should not face eviction, you may want to double check.
I think the law allows you 5% + CPI (local) as max increase. Just increase the rent by full amount if you choose to renew. Take immediate action on any subsequent non payment.
Post: Informed tenant of raising rent, they claim they can’t afford it.
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Quote from @Donna Brown:
@Harish Verma Why would he negotiate? She has been pay low rent for close to 30 years. I think your advice does not reflect that this is a business and he is loosing money.
1. I cannot agree that rent was $400 30 years back and has not been raised.
2. I misread original post and did not realize market rate is 1000, but tenant was offered 750. I thought 750 was rent and that was offered.
Having said that, I agree OP should stand by 750 or leave. My main point is to consider cost of vacancy and renovation when deciding the next step. Many times i have seen house stay in market for few months trying to rent at market rents, only to then offer discounts or lower rent. If you do not have that problem, all power to you.
Post: Informed tenant of raising rent, they claim they can’t afford it.
- Investor
- Fremont, CA
- Posts 195
- Votes 112
That was a huge rent increase proposed. With COVID-19 may state/local agencies enacted rent control. I think easier way would be to take 500 and ask for increase in another year. You can definitely vacate the property, refresh and rent for higher, however consider cost of vacancy, refreshing the property.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Quote from @Harish V.:
Park Canyon shows up in Exit list from Eric, not sure why they are still raising funds -
SEC FORM D
2M raised, 8M to go.
Found the reason, they have new project on site
PARK CANYON (ROUND 2) · DALTON, GA
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Park Canyon shows up in Exit list from Eric, not sure why they are still raising funds -
SEC FORM D
2M raised, 8M to go.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
SEC FORM D - 12.6 M still to raise. Just filed Feb 8, 2022.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Your nasty tone does not deserve a response.
Post: Rent by the room Bay Area
- Investor
- Fremont, CA
- Posts 195
- Votes 112
That tells me rents are still very low in bay area.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Had an interesting update on Buffalo on rails project. Neal and Financial Attunement have both quit the project. Probably they do not want to be answerable to investors they roped in first place with their charm and wild promises of high returns. I am still paying for Mr. Neals learning experience. Anyone investing now should pray that it does not become a learning experience for Neal Bawa. If it does, the investor will have a learning experience of their own that they should listen to people having negative reviews.
Post: Grocapitus - Anyone have experience with them?
- Investor
- Fremont, CA
- Posts 195
- Votes 112
Quote from @Eric Bleau:
Neal would never speak out against Financial Attunement. He doesn’t believe in the blame game. If you hear his podcasts where he talks about his failures, he always brings up these projects. To him, everything is a learning experience so you will never hear a bad word about Financial Attunement from him, ever. And yes, he is still involved in one project from Financial Attunement. The project is still running, so his obligations haven’t changed. Leaving the company does not change his responsibilities for past projects, only future ones.
Interesting. We are just bring up the same failures here for all to form their own opinion. i think its good to know full picture then decide. I do not want to pay tution for someone else's learning experience. I have decided first loss, best loss.