Los Angeles, CA · Member since 2013 · 6 posts · 0 votes
I am looking to buy a rent-controlled property, and willing to buy the tenants out, but I want to know if such an agreement would even be legal/ enforceable.
Does anyone has any experience with such contracts?
Real Estate Syndication and Property Management · Studio City, CA · Member since 2011 · 48 posts · 71 votes
11y
Private parties may contract any private agreement. This includes cash for keys with tenants under rent control. Make sure the agreement is in writing and signed by all the tenants.
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
11y
The way I read 151.09 (A) of LA Municipal code, a landlord can change the terms of the lease as "the result of an express written agreement signed by both of the parties". The tenant must agree to 'cash for keys'. The "landlord may not unilaterally change the terms of the tenancy under Civil Code Section 827 and then evict the tenant for the violation of the added covenant unless the tenant has agreed in writing to the additional covenant..."
Regarding "Private parties may contract any private agreement" I would generally agree with this, but not if the agreement is against public policy. A private agreement that limits a tenants rights outside of (or contrary to) landlord/tenant laws (or rent control municipal code) would not be enforceable in any state IMO.
This post is for entertainment and is Not legal advice.