Adding an ADU to a West LA 4 plex
Researching adding an ADU to a 4 plex in West LA and have a few questions about the process:
1. Anyone have a recommendation on ADU contractors who can take care of feasibility/permitting, design, construction, etc?
2. Was planning on financing with an existing HELOC, but the HELOC is on my primary residence. For legal purposes, should I get a HELOC on the investment property itself? Spoke to a few lenders already and it is possible, but with a higher rate. I'd like to know if it's necessary or strongly recommended.
3. When we first purchased the property two years ago, we had the tenants sign annual leases which stated they'd have garage parking. The ADU will replace the garage but the leases have expired and the tenants are all month-to-month. I'm assuming we will need to offer some sort of concession to the tenants? Or not?
Thanks in advance!