Questions about relocating tenants under rent control
Working with an investor who wants to put an offer in on a 4-unit building in Los Angeles. NON-Owner occupied. 1 vacant unit. 3 occupied units each with equal rents that are about $700 under market rate, with long term tenants who's rent has never been raised.
2 questions -
1.) Are there any ways to relocate the tenants (with pay) other than moving family members in?
Another investor I know has purchased many similar buildings in the past and said he basically had to sway each tenant to move with money, and tells me it can be done with some convincing.
2.) Can the current rents be raised more than 3% since they've never been raised?
Thanks!