The concept of house hack make sense, however, what are the pros and cons of house hack a rent control property? Any Suggestions?
Rent control does not cover units three or fewer-unit buildings where the landlord resides in the building and has occupied one of the units as his/her principal residence for at least a year. Vacant buildings are great though tend to come at a premium (though there are a few on the market right now that I really like). Buildings with tenants paying below-market rents are often a bit more affordable. Beyond whether the building has tenants, there are great tax benefits to buying a multi-family property. Even if a property is cash-flow neutral, depreciation and interest should put some money in your pocket.
Talk to @Saj S. , he knows all the Oakland specific angles.
I think the city has extended the owner occupancy period to two years for rental control exemption.
Okay . Thank you Tommy. Do you know which website you can get more information about landlording the rent control units in oakland?
Thank you Tommy.
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