All Forum Posts by: Peter Sik

Yup, I do agree with your comment for that impression. The tenant's lease is by month to moth. This is consider the lease is ended anyway. 

My idea is to list the property for 3 month to see if it will be sold, if not then back to rental market.  Don't want to stay for too long with no rental income. If the property market is better then I am happy with that, cuz my intention is to cash this property and put it in US bonds or CD, then receive 4.5% return... Why not.. good liquidity too.

Thank you all the comment.

@Nathan Gesner

@Will Fraser

@Nicholas Coulter

Hello all, this is regarding property in Adelanto, CA 92301.

Sent 60 days notice to tenant and told them the property will be selling. But now I see the market is going down a lot also days on market increased, what if I change my mind and after their vacate then post the property for rental. Is it going to cause any legal action? The date of their vacate will be on 12/20. Thank you

Asked 2 agents, they said you have to have exclusive listing agent, and there is no such open agent. 

According to what I found:

"What does open Agent mean?When the listing is open, the agent who makes the sale is paid the commission, not the listing agent.
If the homeowner finds a buyer without the assistance of an agent, no
one is paid a commission. If the agent has an exclusive right to sell,
the agent earns a commission regardless of who sells the property."

That is not true.

I would like to know:

1. Why they don't know or not willing to tell there is an open agent?

2. Does it really that much work and spending to list a property?   

3. What is the pro and con for exclusive and open agent on this marketing situation now?

I am planning to sell my rental property at Adelanto, CA. I have read 2 web sites, one is saying 60-day notice doesn’t have to state the landlord’s reason, and other web saying landlord must gives tenant a written Notice that tells why landlord wants to end your lease. Which one is true? Thank you

https://selfhelp.courts.ca.gov...

http://forberglaw.com/real-estate-litigation-and-transactions/terminating-tenancy-in-california/#:~:text=Generally%2C%20a%2030%2Dday%20or,Giving%20and%20Receiving%20Proper%20Notice.

I heard since it is month to month, I can increase the rent at any time by providing rent increase notice to the tenant. Is that correct?

I have a tenant renting month by month basis, their rent increased on May this year to $1450 which is still behind the market price around $400, so I am thinking to increase their rent on coming Dec by 5%. By increasing the rent again within a year, is it against rental law?

What are the fundamental of home appliances for renting in California?  Such as AC, garage door opener, stove and what else? Is there a law regarding?

Best way to apply a mortgage or any other suggestion?
Here is my situation. I have been working oversea for over 25 years and planning to settle in California soon, very soon. I believe I have good credit with a short period of time living in Los Angeles about 10 years. As I am going back to CA, also planning to purchase a property in Irvine CA, with target price 1.2M. Can I get a mortgage even I will have no job when I move to CA?

Here is what I got:

-USA properties worth 1.2M

-Oversea property worth 3M

All paid off

I know I can sell my property and purchase the Irvine property. But as the interest rate is so low, I want to apply a mortgage. 

I have to plan ahead before coming to USA. Any other way I should do? What do you suggest? Thanks a lot.

I (foreigner) and my wife own a rental property in area 92563. I see my PM charged me $150 monthly for FTB expense, it is for California Franchise Tax Board. Is it necessary for my PM to collect the tax in advance? Anybody knows the rules about it? thank you