How to protect myself with a SF/LTR in Los Angeles?
Hi there,
My family and I are moving from Los Angeles to Honolulu early next year.
We own our heavily-renovated, very nice 2BR/2BA with detached office space in the highly-desirable neighborhood of Silver Lake.
I’d like to keep the property and rent it out, but I need BP’s help.
What, if anything, can I do to protect myself from the nightmarish scenarios I hear about landlording in California? (Tenants not paying rent, tenants overstaying, paying to get people to leave, etc.)
I’ve heard you get a bit more protection (as owner) in a single family than a duplex or apartment building. I was also told to sent rent high enough so that tenants don’t get overly comfortable.
Any other tips for a prospective LTR in CA?
(FYI: I own two fourplexes in Austin, and a condo in HNL. So I’m an experienced investor, just need help navigating California’s laws. And selling is not an option right now, I want to keep the property.)
Thank you!