All Forum Posts by: Tyler Vance

If you are a resident of California, and own property that produces rental income in another state, do you pay CA income tax on that income, or only income tax on the state in which the property is located? 

The rental unit requires permanent eviction for Primary Renovation due to a Tenant Habitability Plan accepted by HCIDLA;

Does that imply that going into to do a major rehabilitation on the building would allow a permanent eviction? 

Thanks! 

Question for all the wonderful people who contribute to this forum. I've tried digging in and figuring it out myself but keep getting to a dead end.

I have a property with four units, and one house in front that is under LA City rent control. It's been in the family since the 70s and the rent has not been raised for the majority of the time.  The rent is probably less than 1/2 of market value for rent.  Is there any way to evict the tenants to be able to then rent at market value? Even if this means paying relocation fee's. (from what i've seen it can be anywhere from about $10k to $20k per unit)

And on a side note, rent control is shocking and do not understand how it does not violate the taking clause of the 5th amendment of the constitution. But that's a whole different issue for another day. Thanks in advance! 

Thanks. It will be all cash. Seller seems reluctant to let potential buyers negotiate with the tenant out of fear of the deal falling out of escrow and him having to deal with the tenant wanting what ever terms were negotiate by the potential buyer. So i was just wondering if there were in rules about calling the business owner to gauge their interest in renewing the lease.  

Are you allowed to contact a triple net tenant of a property you are interested in purchasing to gauge their interest in renewing their lease? If so are there any limits on what the conversation can be?