s advertised short-term rental listings have been illegal since the ordinance went into effect LOS ANGELES (CNS) -- The Los Aneles City Council approved a motion Friday aimed at strengthening enforcement of a city ordinance prohibiting unpermitted and non-compliant Airbnbs and other short-term rental operations.The motion by Councilwoman Nithya Raman and Councilmen Bob Blumenfield, Mike Bonin and Paul Koretz instructed the Department of City Planning to report back within 90 days on: Recommendations for how the city can address non-compliant hosts who rent out properties listed as a primary residence but are not used as such, the conversion of affordable housing stock into short-term rentals, the conversion of multi-family residential structures to short-term rentals, short-term rentals engaging in commercial uses/activities, and properties that are rented for longer periods of time than permittedEnforcement mechanisms such as citations, fines, license revocations and criminal penaltiesHome sharing regulatory and enforcement models of other cities, including San Francisco, Austin and New OrleansStrategies for ensuring all home-sharing platforms that operate within the city enter into platform agreements requiring them to share data with the cityStrategies for implementing and improving data collectionWhat staffing or dedicated unit, office or department is needed to consolidate various aspects of home sharing compliance and enforcement in one multidisciplinary team."

thank you Raman!

@Raman SinghHi RamanI wrote a blog about investing outside your market, and I think it will answer your questionGino

Thanks @John Thedford,  It sounds like that LLC you have is a regarded entity  @Raman Singh. that's just tax talk meaning the LLC files a tax return and you get a partnership form that you use to file your tax return.If so then the LLC is the taxpayer for the property and it will have to do the exchange and sell and purchase the new property. 

For a female who has been managing large construction projects for 25 years I was someone no body wanted not even to dig ditchs or scrub toilets and I wudda taken ANYTHING for any amount of pay, I would have worked for raman noodles if someone would have offered it.  

Hello Raman,I'm a real estate newbie, so I'm sorry I can't offer any solutions just yet.

@Raman Bindlish I have had this happen several times in the past.

@Raman BindlishWhy not ask the first applicants if they'd like to match the higher offer.

Any insights would help.Thanks Raman 

Todd Neal from Real Property Management or Jay Raman at Ashoka Lion.