Quote:
Originally Posted by speeder
I'm pretty sure that the only rent control in the city of LA applies only to apartments, (not houses), and then only in buildings built before 1960. That RC is what is known as "vacancy decontrol", meaning that when the unit is empty, the landlord can raise the rent to whatever the market will bear but as long as the same tennant is in the apt., you can only raise the rent 3% per year. (5% if landlord supplies utilities).
This differs from the most extreme type of rent control such as what existed in Santa Monica until a few years ago. In that city, the rent could only go up a prescribed amount each year even if the unit became vacant. There were people paying $400 a month on units that would have fetched $2k w/o RC. The LA type is designed to protect old people from being forced out on the street and is more fair to landlords.
A quick google search for LA city rent control laws should yield results. If not, contact the housing dept. of the city.
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Thanks Dennis, that was my plan tomorrow. I am ready to sit on the phone for about three hours on hold. This property has 5 bedroom, 3 bath in the main house and a 2 bedroom and 1 bath in a separate back house. I read that it is under rent control.