On Feb 18th we had Mr. Jonathan Black, Managing Partner of Weston Law PC give us a round- up of all the mishaps and mistakes that can happen to investors and home owners in real estate transactions or in the management of rental properties.
About Rent Control:
The cry for rent control has rung out in many cities.
The rent control cities have different sets of rent control ordinance. The City of Richmond was probably the first city in the wave of rent control ordinances in the past two years.
Mountain View is the most recent addition, which has impacted the property value significantly.
Relocation fees for tenants:
Each city has its own suggested range of relocation fees, it ranges from $5000 to $18,000 relocation fees
Oakland is the highest approaching twice as much as other cities.
You may evict tenants if they do not sign new leases, they have subleased without prior approvals. Each adult must sign a lease before they move in. Non authorized people living in the premises, or pets are kept which is against the no- pets- term of the lease, the landlord has ground to evict tenants.
As a landlord, you have to go to the respective Rental Board of each city to get the latest info about rent control and just cause eviction. Overlooking rent control may affect your financial assessment of the rate of returns of the investment. Before you acquire a property, you have to study to ensure whether the property is subject to rent control area. It may impact the way you manage it and also can cap its appreciation rate.
Mr. Black has extensive experience in litigation regarding Landlord-tenant relations.
Before you acquire a property, you have research to ensure that it is or isn’t in rent controlled areas. It will influence the way you manage it and also how you cap its appreciation rate.
Mr. Black also emphasized the importance of Seller disclosures, from past litigation over boundary lines, disclosures on dealing with insurance claims, getting the proper contractor quotes and the are ways to protect yourself as buyers and sellers.
If you have any legal questions regarding real estate and business issues, please contact Mr Black at
Weston Law PC
2001 Omega Rd. Ste 203
San Ramon, Ca 94583
If you are interested in Investment properties please contact us at firstname.lastname@example.org!