All Forum Posts by: William Abanyie

Passing on some information for all Los Angeles Property owners subject to Rent Increate.  Here is a document I found that details acceptable reasons for rent increase.  Including your tenant adding another resident that you accept,  you can charge an extra 10%.  Also if your place if far below market rate you can apply for rent increase approval with the city to correct the rent amount as long as your operating cost doesn't meat the amount you are receiving for rent.

Hope this help someone like it has helped me.  

Los Angeles Landlord Guide

Great resource right here...you can charge 10% extra on rent for each additional person added... there are other increases that you can view also here:
https://housing.lacity.org/wp-...

Thank you for your advice @Julie McCoy. The thing is... Los Angeles now requires a registration number before any host can post their place on STR sites... how would I get around that for medium stays like 30 days at a time?

I have a unit in Los Angeles in a rent control area.  The recent sanctions for limiting short term rentals say that rent control areas are not allowed to have short term rentals at all.... and areas that are capable have to be limited to 120 days... has anyone found any loopholes around this issue?  I have a renovated unit that I would want to use as short term rental and trying to figure out ways around it.

https://www.airbnb.com/help/article/864/los-angeles-ca#rso

Or any alternative options to get my place rented for short term stays?

So it sounds like in order to protect my property I need to put it in a trust that is then put into an LLC, but make sure I have an umbrella policy that covers everything.

But step by step how would I do this?

I know the insurance portion can be done at any time but do I transfer my property into a trust first then form an LLC or form an LLC then put property in a trust that is owned by the LLC?

Please help