LA More Eviction Restrict (by Robert J [CA]) Jan 20, 2023 3:12 PM|
LA More Eviction Restrict (by S i d [MO]) Jan 20, 2023 3:21 PM
LA More Eviction Restrict (by jonny [NY]) Jan 20, 2023 3:47 PM
LA More Eviction Restrict (by WMH [NC]) Jan 20, 2023 4:36 PM
LA More Eviction Restrict (by 6x6 [TN]) Jan 20, 2023 7:25 PM
LA More Eviction Restrict (by Robert J [CA]) Jan 20, 2023 11:38 PM
LA More Eviction Restrict (by don [PA]) Jan 20, 2023 11:48 PM
LA More Eviction Restrict (by don [PA]) Jan 20, 2023 11:50 PM
LA More Eviction Restrict (by William [MN]) Jan 21, 2023 12:30 AM
LA More Eviction Restrict (by Robert J [CA]) Jan 21, 2023 4:43 AM
LA More Eviction Restrict (by tryan [MA]) Jan 21, 2023 10:14 AM
LA More Eviction Restrict (by GKARL [PA]) Jan 21, 2023 1:00 PM
LA More Eviction Restrict (by Robert J [CA]) Jan 21, 2023 2:07 PM
LA More Eviction Restrict (by Ken [NY]) Jan 21, 2023 3:05 PM
LA More Eviction Restrict (by GKARL [PA]) Jan 21, 2023 4:16 PM
LA More Eviction Restrict (by Mapleaf18 [NY]) Jan 21, 2023 7:32 PM
LA More Eviction Restrict (by 6x6 [TN]) Jan 21, 2023 10:29 PM
LA More Eviction Restrict (by Robett,OntarioCanada [ON]) Jan 22, 2023 8:41 AM
LA More Eviction Restrict (by george [MA]) Jan 22, 2023 11:30 AM
LA More Eviction Restrict (by Robert J [CA]) Jan 22, 2023 12:46 PM
LA More Eviction Restrict (by WL [CA]) Jan 22, 2023 2:20 PM
LA More Eviction Restrict (by Ray-N-Pa [PA]) Jan 22, 2023 6:54 PM
LA More Eviction Restrict (by W [CA]) Jan 25, 2023 10:36 AM
LA More Eviction Restrict (by Robert J [CA]) Jan 25, 2023 2:08 PM
LA More Eviction Restrict (by mike [CA]) Jan 25, 2023 2:51 PM
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 20, 2023 3:12 PM
For around 3 years, Los Angeles Landlords could NOT evict a tenant that decided not to pay rent, so long as the tenant can say, "Pandemic or Covid-19".
Finally the moratorium on evictions is set to expire at the end of this month. So to combat tenants having to get a job and pay their rent, the City Counsel is voting on Three New Restrictions on Eviction. Here they are:
1) Universal just cause
2) If rent is raised 10% or more, then the landlord has to pay the tenant relocation funds.
3) Tenants will have a 30 day grace period to pay their rent.
I used to love living here in the sunshine state. --47.149.xxx.x
LA More Eviction Restrict (by S i d [MO]) Posted on: Jan 20, 2023 3:21 PM
Live there. Invest elsewhere. Putting up with crap due to where your body is physically located is a 20th century concept. --184.4.xx.xx
LA More Eviction Restrict (by jonny [NY]) Posted on: Jan 20, 2023 3:47 PM
Wow... can't wait until NY gets wind and does the same thing.
30 day grace period... what a joke that is. Hope these don't go through.
#1 probably will as many states and cities, etc are talking about it. #2 there is a way around that one. #3 yikes. --69.201.xx.xxx
LA More Eviction Restrict (by WMH [NC]) Posted on: Jan 20, 2023 4:36 PM
What does 30 day grace period mean? What are the terms of that? Just for the Covid people once restriction is lifted, or is it everyone forever has 30 days extra to pay their rent every month? How could that even work? --50.82.xxx.xxx
LA More Eviction Restrict (by 6x6 [TN]) Posted on: Jan 20, 2023 7:25 PM
Have you ever done the math to compare which cost you more, all of the restrictions or just sell and pay the taxes? --73.113.xxx.xxx
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 20, 2023 11:38 PM
Tenants not paying their rent = 1/4M
(Long term federal Capital gains tax
Affordable Care Medical Tax
New 5 to 10 M sales tax
Escrow, Transfer TAX ($5.60/$1,000)
All of the above, Millions!
6x6 you can do the math...
LA More Eviction Restrict (by don [PA]) Posted on: Jan 20, 2023 11:48 PM
Just cause can be worked around---gotta do renovations to bathroom and kitchen! --73.141.xxx.xxx
LA More Eviction Restrict (by don [PA]) Posted on: Jan 20, 2023 11:50 PM
Unfortunately, I think Philly is not far behind. The pathetic thing is, after the city gov'ts put in as many restrictions as they can to make life hard on landlords they will then wonder why the housing is in such short supply and ever more costly. Their solution will then be to put more burdens on landlords to "help" the tenants. --73.141.xxx.xxx
LA More Eviction Restrict (by William [MN]) Posted on: Jan 21, 2023 12:30 AM
Robert, I'd be pretty g** d*** angry about that. Enough is enough. I'm really sorry you have to deal with that. Its not right. Utter BS is more like it. They're bullies!! What they've done isn't right. Plain and simple. It just makes you wonder why the masses think it's ok to treat us like that, when they would never expect other businesses to do it. (Grocery stores aren't forced to accept theft of food! Hotels are not forved to kick out paying customers to house a criminal for free!).
California has always been a bit out there.
I used to live there in 25 years ago. Now, being a Midwesterner I like to grill out. One beautiful day, I went to the park, fired up some bricks of charcoal and was tossing a frisbee and having a beer. Was a great day, then a group of moral police came over and started yelling at us. Apparently the public park was theirs and our grilling wasn't good for them. I was taken aback, never been
reprimanded for cooking. But not only were we polluting their air, we were eating meat and that was a distasteful smell.
I'm so glad that happened to me. It made me realize I didn't want to live by people like that. If not for situations like that back in the 90s, I would have easily made a life there. Obviously buying property in CA in 70s 80s or 90s, you're doing pretty well for yourself and appreciation was good to you! But I'll be dam**ed. I just don't think it would be healthy living by those nutcase. Raised bloospressure and it can't be good for your heart knowing how much they're taking advantage of you. I really feel for ya! You're trapped.
But they're the idiots. You won't be pushed indefinitely. There will be a breaking point.
Cali is no doubt a gorgeous place and will always be. What a pity all that is going on now. The writing has been on the wall, though LA level of shenanigans area getting truly into cooky territory. The pendulum has shifted to far. Yes tents are high by the ocean BUT SO IS REAL Estate!
They are getting more takers and the people providing investment, hard work, & ingenuity are just not gonna be interested. It's such a very easy decision for those youngerthan us. Stay away! The next gen will to NOT want to invest there. With rules like that and legal theft of housing, why would they?
Best of luck to you. I have read your posts, you clearly have a ton of skills and knowledge. If you do leave, good news is you can rebuild many other places and you'll be good no matter what. Sad to see duch a beautiful place go downhill though. LA does not think it could become a Detroit. If they keep this up for another 20 years.... just watch.
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 21, 2023 4:43 AM
Around 12 years ago before buying another apartment complex I drove/walked to each City/County Department to insure there was no dark clouds hanging over this property (Outstanding issues). I was given documents showing this was a charming nice property with no current or past issues.
Then after the purchase the City sent a violation to the previous owners, even though I took the time to make each department update their files. Not just ownership, but all 4 computer systems that THE HOUSING DEPARTMENT USES to identify owners.
The previous owner was given 10 days to address a minor issue, NO PERMIT FOR A SECURITY LIGHT. Big deal. The previous owner was out of the country.
SO THE WISDOM of the Housing Department was to put this property into REAP (Rent Escrow Account Program). Making the tenants pay their rents to the City, and charging me $50 per month per tenant for this privileged. And each tenant got a 15% rent reduction.
I was summoned to a Heating with the General Manager of the Housing Department. Since the City sent the Previous Owners notice, and it was the previous owners responsibility to notify me, I HAD NO LEGAL RIGHT TO CHALLENGE OR APPEAL THIS DECISION. No rent, rent reduction and costs. Plus my property was being watched by a Tenant Legal Concern -- tenants should get new carpeting, new painting and new appliances or I would never get my rents.
So the last 3 years of no tenant eviction due to the Pandemic was a piece of cake compared to REAP.
I proved the City Could have NOT place my building in REAP, the needed two serious violation, not a permit issue. I sued the City but the judge told me if he gave me a money judgement, he would never make it to retirement, the city would have him fired.
This is why California hates guns. Half of the landlords would have wiped out the money hungry crooked politicians, and then no one would be left to run the City/State. --47.149.xxx.x
LA More Eviction Restrict (by tryan [MA]) Posted on: Jan 21, 2023 10:14 AM
Geez ... thanx for validating my decision to get out of the hood last summer. --198.168.xx.xxx
LA More Eviction Restrict (by GKARL [PA]) Posted on: Jan 21, 2023 1:00 PM
I would not invest in NYS or California. If I owned anything there, I would sell and move elsewhere. The problem with selling is that few would want to buy so that means you're stuck. Sucks --209.122.xx.xxx
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 21, 2023 2:07 PM
LAST NIGHT THE LOS ANGELES CITY COUNSEL VOTED TO PASS THE EXTENDED TENANT PROTECTION ACT. LANDLORDS ARE EVEN MORE SCREWED. THE NEW MAYOR CONGRATULATED THE CITY COUNSEL FOR THEIR ACTION. THIS INCLUDES ALL RENAL PROPERTY INCLUDING SINGLE FAMILY HOMES. --47.149.xxx.x
LA More Eviction Restrict (by Ken [NY]) Posted on: Jan 21, 2023 3:05 PM
GKARL- I will be moving when i can but have elderly parents here to take care of. The weird thing is the worse the restrictions the more people seem to want it and the higher the prices seem to go.When covid hit here and all our rights were being taken away the people just kept coming here from NYC and paying more and more --74.77.xx.xx
LA More Eviction Restrict (by GKARL [PA]) Posted on: Jan 21, 2023 4:16 PM
We border both NJ and NY; two tenant friendly states. I'm planning on a 10 year run and then selling out. I'm figuring the nonsense will infect us as well particularly with the transplants moving here. --209.122.xx.xxx
LA More Eviction Restrict (by Mapleaf18 [NY]) Posted on: Jan 21, 2023 7:32 PM
We are not buying anymore here either. If I was in LA county CA I would sell or 1031 to somewhere else now. Especially due to these ideologues coming up with these insane "bright ideas" aka blatant wealth redistribution.
Let's see who will have the last laugh when all the rental housing dries up there.
They'll probably blame it on "climate change" (TM). --64.246.xxx.xx
LA More Eviction Restrict (by 6x6 [TN]) Posted on: Jan 21, 2023 10:29 PM
Thank you , Robert J. Looks like you are dealing with the lessor of two evils. --73.113.xxx.xxx
LA More Eviction Restrict (by Robett,OntarioCanada [ON]) Posted on: Jan 22, 2023 8:41 AM
Here there is back logged of cases where over time it is going to be cleared up for rent arrears where in the meantime it is really difficult for many smaller rental housing providers. The socialists want to expropriate all the private rental housing then there is no private rental housing at all where the reality there in enough in entire provincial treasury to completely buy out all the private rental housing. Houses, townhouses and condomiums are being sold to become owner occupied then the secondary rental housing is shrinking. Any other treated that way would close down then throw out workers. Look at the tax dollars that all govenments are losing as less income and economic activity provincial and federal taxes are not there. The extreme leftist tenancy advocates groups do not even represnt 0.01 per cent of the population. The socialists know how to spend other peoples money where they do not use their own money as they know this does not work. Why in the world are the municipal governments funding those left wing extremist groups. There needs to be constitutional challenge here where court case after court case needs to challenged again and again. Some municipaliities tried to bring license fees where tenants pay for that as costs are passed in higher rents. --68.69.xxx.xxx
LA More Eviction Restrict (by george [MA]) Posted on: Jan 22, 2023 11:30 AM
The problem is as I see it that politicians big and small cater to the much higher number of renter voters and what those voters demand. No matter what impact it may have on the future of available places for them to rent
Also we LL's don't ever seem to have a strong political local and esp national organization that can influence these politicians or outline the more reasonable rules and laws. and a big problem that with most of our fellow LL's that they will not ever join it.
Organising LL's is like herding cats. They are mostly very individualistic to a fault. I don't see it changing. --66.30.xx.xxx
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 22, 2023 12:46 PM
Many moon's ago, The City of Los Angeles was going to raise the water rates by 40%. As a landlord that owns many apartment buildings that pays for all of those tenants water use, this meant I would suffer I financial disaster. Not only would the water go up by 40%, but also the companion Sewer Fee's.
So all of the Apartment Associations put aside their petty differences, combined our resources and fought this unjust rate increase.
We the apartment owners won. No 40% increase over night. Instead it was 8% the first year and 5% each year afterwards.
The next day the City then Raised their sewer fee's by 40%.
Leaving us tired, tapped out and not ready for another fight.
The Southern California Gas Company now raised their rates by over 400%, affecting everyone. But the GAS company said, we only raised out rates by 300%, the other 100% was in December of LAST YEAR! --47.149.xxx.x
LA More Eviction Restrict (by WL [CA]) Posted on: Jan 22, 2023 2:20 PM
So the moral of Robert's last post is the advice I have suggested for years for California LLs: Get All Utilites Out of Your Name and into your Tenants name! Install separate water and electric gas meters especially in rent control areas and pro-rate trash pickup costs via Livable. I replumbed and installed separate water meters and submeters years ago so I do not get blamed for big rent increases to cover utility increases or get stuck holding the bag in strict rent control situations that do not allow you to recover your utility costs! I still remember tenants howling over their new utility bills after the re-meter work was done - I told them: "I know exactly how you feel" . . . or used to! --174.65.x.xxx
LA More Eviction Restrict (by Ray-N-Pa [PA]) Posted on: Jan 22, 2023 6:54 PM
Unfortunately with the affordability index where it is at for SoCal - the real estate market isn't looking so pretty there for some time. So for those of you who are letting Robert know he should sell and go else where, the market place is going to be hurting for a few years in the future.
I am sorry to hear about your pain Robert --24.101.xxx.xxx
LA More Eviction Restrict (by W [CA]) Posted on: Jan 25, 2023 10:36 AM
Title: Los Angeles Extends Rent Protections After COVID-Era Moratoriums Set To Expire - Zerohedge dot com
Many comments such as: Yeah, if you think these low class deadbeat renters who don't pay rent are going to pay back overdue rent, your're dreaming! This is nothing more than a reparation program by the LA city council. LA voters have learned they can vote themselves freebies for now, but once the money dries up, these freeloaders will discover what tent life is all about!
It's almost as if they want the landlords to go belly up and force them to sell. I wonder who will be the fortunate ones (politicians and Blackrock) that pick up these properties at fire sale prices ? I bet they expire the moratorium right after that.
LA More Eviction Restrict (by Robert J [CA]) Posted on: Jan 25, 2023 2:08 PM
LA already has a program W(CA), in place sine the 1990's. It's call STL, Screw The Landlords! Housing has over 750 million dollars in a trust Housing Fund, for the benefit of City Employee's. You see they force "older" mom and pop landlords to the verge of bankruptcy, then swoop in and offer them half the value for their apartments, agreeing to drop charges and violation against them.
I know of a property and cooperating buyer that once the City gains control of a property, waiting for the owners to relinquish title, the City allows a landlord custodian to take over the management during the transition period. Then after the "deed" is done, the City will accept closed bids on buying those seized properties.
Instead of providing shelter to the homeless, the City much prefers cash in their greedy pockets. Noting new, screw everyone so the few can have and everyone else wants. --47.149.xxx.x
LA More Eviction Restrict (by mike [CA]) Posted on: Jan 25, 2023 2:51 PM
there will be many unintended consequences to the california legislators using the housing providers as burros so they can win favor with renters. one upshot of the many new tenant protections will be that landlords ONLY rent to folks they KNOW will move so that we are not stuck with long-term deadbeats...college kids, young females, military. another will be that we NEVER rent to anyone with a disability, a senior (unless they are on deaths door), or anyone with spotty credit, or a weak tenancy history. only the stablest of incomes will be allowed. the screenings will be protological with the flakes being shunted to the lower grade units. deposits will be maximized, late fees will be strictly enforced, rent raises will be at the yearly maximum, repairs will be lessened, upgrades will disappear, amenities will be eliminated. many units will be sold to owner occupants or made into AirBnB type uses. currently in san francisco the home of the WORST rent control regime in the nation we have an estimated 44,000 rentals being held vacant because the owners simply are unwiilling to give their property to the system that takes a dump on them. the elected hacks just cannot seem to get it...money goes where it's treated well. --75.80.xx.xx