Rental Property Investor · Los Angeles, CA · Member since 2017 · 8 posts · 4 votes
Hi Everyone,
Background:
I own a tri-plex in los angeles... rent controlled.. one of the tenants lived there when i acquired the property.. his rent is 750.00 - current rate is approx 3k
He has full access to the only Garage on the building, an additional parking spot, and a great size yard... I want to take some things away from him.. After reviewing a pdf on Reduction in Housing Services on the HCIDLA website... its RAC 410.. in case anyone wants to look it up.. It shows there is a range for taking away parking from 67$ - $222 (Suggested reduction) and if the tenant is not happy with the deduction they can appeal it with the housing board for an amount decided upon by the housing board. I would hope they would take into consideration that the rent they're paying is already so low..?
so......
- what do you think the value of a parking spot is worth? HOLLYWOOD . Difficult area to find street parking, but no limitation on how long you can park once you do.
- what if i were to convert the garage into a non-conforming unit? extra income of $1500 or so
Sounds like a great idea to take back the parking and go for both the parking space and convert the garage into an ADU Accessory Dwelling Unit for that extra income. Research the local limitations or restrictions and pursue both avenues.