Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

I’m not sure what the rules,regulations, restrictions are for renting out basements, so I’d appreciate some input from people who have done this before

@Todd Kozak  The Federal FinCen new regulation called the Corporate Transparency Act (CTA) requires ALL LLCs/Corps to register by December 31, 2024. 

Hope that’s kosher…You might also want to consider moving your notes to a servicer, thus you'll be in compliance with all applicable statutes and other crazy regulations spun up by Liz Warren. 

Regulated by the county of Riverside not the city, thus not subject to the restrictions.

The amount of STRs that will pull out in non-regulated areas will flood the LTR and MTR markets I am presuming.

Was it finding the right market, navigating local regulations, or building a network?

Not easy to do, not in a heavily regulated environment. 

Short-term rentals would be a solution, but due to strict short-term rental laws in rent-controlled areas of Los Angeles, options like Airbnb are typically not feasible.At present, I have a $5 million property in Encino with two units that we cannot rent out short-term due to rent control regulations, and the numbers don’t work for a long-term rental either.

This lets you bypass the traditional bank financing with many rules and regulations.