Rent Control In The City Of Los Angeles.
I want to buy a 4-unit apt building, but it's in a rent control area of Los Angeles. I think currently the rent is not up to market, could I purchase it fix it and bring it up to market?
Coincidently I was just browsing the internet to find the answer to that same question. I know that if there are tenants in all units, you can evict one for an owner occupant unit. I'm not sure if you can evict all of the tenants though. And you must pay them a relocation fee. $3500 for a single person or couple with no dependents, and $8000 for families or seniors. :-o