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Magnus Heng
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RSO LA Area Seek Rent increase Advice

Magnus Heng
Posted May 13 2022, 19:22

I have little knowledge so assume I know nothing. My family is an unfortunate event where my aunt is medically incapacitated and we’re taking care of all her finances.

She owns an apartment in LA that is under RSO and the only source of income supporting her at the moment. Unfortunately she managed this poorly and never increased rent for years and it is significantly under then current market and will not support her medical bills and needs. 

I am looking for any advice possible on avenues to increase the rent. I know with current LA Covid mandates increases are currently on pause until possibly 2023. We are also exploring a 1031 DST exchange.

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