I'm buying a duplex in South Los Angeles and I'll be living in one of the units. The tenant-occupied unit is paying 1050 for a 2 bedroom + 1 bath. I've been reading up on rent control and I see that according to new laws, I can only raise the rent up to 8% max to account for the 5% increase and inflation. Today, I just stumbled across an article that says I would be exempt from rent control since the duplex will be owner-occupied. Is anyone able to confirm this?
The tenants currently paying way below market rate but I want to figure out my best option between either raising the rent with the current tenants or going through the proper channels to remove them.
You are in the City of LA. Look up and understand the Rent stabilization ordinance (RSO) and what it applies to. That duplex likely falls under it. I don't think you want to deal with tenants rights on a duplex. I usually advise house hacking a SFH or only buying duplexes that are delivered vacant.