All Forum Posts by: Michael A.

@Rob Moran

Thabks a lot for this. This is a seperate question from my original post:

I looked it over, didn't see anything regarding rent raises. But those are also not allowed during the moratorium, correct?

@Jennifer Buchanan Thank you. Yes, thats a possibility and a good idea but since I havent quite formulated my plans for a 1031 exchange after selling, Id rather just wait before even starting that conversation.

Yes, that makes sense. Ideally, My plan wouldn't be to evict. After covid, Id try to figure out a timeline that works for everyone. But at this point wont even bring up the topic. Thanks. 

Thanks for level headed outlook :)

Not necessarily on this site, but sometimes people jump to dramatic predictions about the market. 

Thank you. Yes, thats was my understanding too. 

I actually will likely just wait for this stuff to pass before approaching them. Though I realize the low interest rates and higher property values may change, Im not hard pressed to sell right now. 

Oh man, sorry, thats rough. I don't plan to reach out to tenants during moratorium. I may do so after if I decide to sell.

Thanks for advice. This was sorta implied when posting my question. 

I believe in California with rent control laws, the lease being month to month does not mean you can evict the tenants because the original lease term has been fulfilled.  And with the covid eviction moratorium, you can't evict even if rent isn't paid. For those reasons, my assumption was that selling the place wouldn't allow for an eviction either.  

Thanks for reply. Maybe I was unclear:  

I am "trying to see if an eviction is okay in order to sell." 

I realize keeping tenants in place isn't an issue. But since this is a single fam home in LA, the most likely situation is a buyer who will want to move into the home as a primary residence.  With that in mind, my thinking was: buyers may not be interested in purchasing it since they can't evict the current tenants.  

Sorta a separate topic:

As far as month to month agreements, yes, I can see that as negative to some investors but on the flip side: In a strong rental market, a month to month gives the (current or new) landlord more rights, the ability to raise rents (within rent control limitations), a chance to improve the property if need be (provided they can get current tenants to move).  But I agree, there are also situations were an investor wants the stability of long terms tenants  

Hello,

In Los Angeles, California here. Just wondering what the regulations are regarding selling a single family home with month to month tenants during the covid eviction moratorium. The property is under an LLC if that matters.

I realize listing and selling the place is possible.  But from what I understand, delivering the place vacant wouldn't be possible, correct? As far as I understand: As of now, if the current tenants don't want to voluntarily leave, an eviction for the reason of selling the place is not allowed.  

Thanks