All Forum Posts by: Katrina Razavi

@Jamie M. thanks for sharing, really interesting situation. I'd def check w/ a lawyer on that piece. Even though your in-law is a legal ADU you still may be subject to RC. The workaround is to make sure that you're renting the ENTIRE property to one party, (not the 2 separate units b/c doing that will def. mean RC). An SFR w/ an in-law can def be considered RC according to the rent board. A true SFR isn't subject to RC. I'd also check the type of zoning on your property.

In terms of renting out vs. selling I think that it really depends on your financial situation. Personally, if I could afford doing so, I'd hang on to the property. I get the argument of selling it now to take advantage of not having to pay capital gains on the delta, but so long as you're in a situation where you're positively cash flowing the property by having a tenant in, there I'd keep it. Again, very personal decision. 

SF is a strong market for renting, rents are only going to increase IMHO (regardless of how property values fluctuate), and you live in a highly desirable area. You're also close to the property which makes it easier to manage and probably do some repairs on your own to save money on capital expenditures.

I've looked into a lot of LL laws and there's no question SF is NOT an LL friendly town. That being said, if you screen tenants properly and charge a high rent, you'll likely find that your tenants will be desirable ones.

@George Nyquist quick question regarding your comment above. You mentioned that one of the people in the basement agreed to a buyout in exchange for not putting the eviction on his record. Is there some sort of consequence or something that goes on someone's record if they've been evicted? 

Wow, definitely sounds extreme but valuable info. Thanks @George Nyquist

Awesome thanks so much @Sean Walton!

Hi BP Community! Looking to connect with folks who Airbnb their property in the city of SF. Curious about

• What is the avg per night you charge?
• What's your vacancy rate?
• Is it a hassle to register with the city to do it the right way?
• Is it better than finding a longer-term tenant?
• What are the hidden costs I'm not considering?
• What are the hidden hassles I'm not considering?

Some context: I just bought an SFR, it's a single family house upstairs with an in law unit downstairs. Our plan is to renovate the downstairs to either turn the property into a duplex OR maintain the SFR and Airbnb the downstairs unit when renovations are complete

Any thoughts or opinions are welcome! Thank you

I'd def go to your local planning board or call them up and see what is involved with doing that. I know that in SF (in the city) things like this could require neighbor approval, permits and be a year long process but it depends on where in the bay area you live. I def wouldn't start construction until you sort this out. Good luck!

Hi @Andy C. curious to see how your visit was and your thoughts on the market. I was just there for a business trip and found SLC to be booming in terms of economic development, entrepreneurs and more but haven't done any real RE diligence

Thank you @Nick Wilby will do!

@Vahe Ohannessian thanks for your response. it's not a zoning issues, it's an SFR in RH2 zoning. I know that from a building perspective it's totally not up to code in terms of illegal rooms based on them not having natural light and size requirements per the city.

@Josh Cuthbertson thank for your response. I don't have a list from the city (haven't had anyone physically come and see it or anything). I think the scope of it is that we have to gut what's there, separate out water/electric between the upstairs and downstairs, add a wall to separate garage and then redo the layout so that the rooms/kitchen/bathrm meet the building code of the city

Hi BP friends!

I'm looking for a SF architect who has experience legalizing illegal units. I have an SFR with an illegal in law downstairs that we want to bring up to code. Any referrals welcome! Thank you.