This is Christian Walsh with WIRE Associates and you are on THE channel for straight and honest advice for landlords and tenants and buyers and sellers! We are real estate agents who specialize in the sale of multifamily and single family real estate in Southern California. Our channels brings you the best advice, market data, legal updates and a whole lot more. I am also the proud dad to 4 kids and a beautiful wife living the dream in Southern California!
For over 15 years we've been working with the best investors, owners, buyers, sellers, landlords and tenants. We'd love to add you to the list when you're ready, but in the meantime make sure you subscribe to our channel and ring the bell for helpful real estate updates.
Also, for even more in depth real estate news and updates, please be sure to sign up for our weekly email newsletter at
Sorry landlords but private equity firms and ai algorithms are to blame for the downfall of your industry, not the renters. I'm voting for rent control on this one due to this very reason.
4:50 wrong. It's definitely NOT all small time landlords. 7:15 wrong. How can you say 33 "will kill affordable housing?" You have a crysyal ball? No one knows what the impact will be. This would only allow cities to enact rent control. Then if they do, there are laws allowing for appeals by landlords of they go underwater, they have a way to supercede rent control. This could , COULD, help level the playing field for renters at risk of displacement, but it would still be up to the individual cities. Yes, some landlords would see less profits, and that's why they always spend millions to defeat this legislation. 7:20 wrong. "No" incentive to build? Cities aren't that stupid. Please speak accurately... say "building/ development MIGHT not be as profitable." Period. 8:50 (are you are speaking on the "PRO" side yet?). People are contestant struggling to increase wages... heck, minimum wage increase is on the ballot, at least for Oakland. But it's so incremental. One more dollar per hour? That doesn't exactly help with my 50% rent increase in our single family home. 9:30... hey, i thought you were going to discuss the "pro-33" side. This is a totally specious argument. Yes on 33 DOES EXACTLY WHAT YOU ARE SAYING... Allowing cities to tailor rent control for themselves. 9:50. No it doesn't decrease rent but cities will be able to show down the rent hikes for some buildings. 10:25 . Studies are out there but unfortunately you have to know who's funding them and spinning the results before you read and take the results with a grain of salt. Ugh. This video is a case in point! 11:08, wrong! Again with the "no incentive" to build. To be accurate, say "there could be less incentive" to build.
I sincerely appreciate the passion in your response and for watching the whole video! It may help to clarify AB 1482, the statewide rent control in place. Any LLC that owns a single family home or condo is subject to AB 1482 (unless the home received its certificate of occupancy less than 15 years ago). All of these homes (and duplexes and bigger that are older than 15 years) are subject to AB 1482 and have an annual rent cap of 5% plus CPI with a max of 10%. It sounds like you are in a home that is exempt from AB 1482, hence your big increase. Not everyone experiences this. Many rentals fall under AB 1482 rent caps. And 640,000 units in LA City under the RSO had no rent increases from March 2020 to February 2024 and then a 4% annual increase. Those are the current laws on the books right now. As for affordable housing and housing construction in general, we are already way behind construction levels under the current laws...do I really need to say "could" or "maybe" if rent control laws were even tighter? You don't need a crystal ball for that. It's easy to see. And yes, cities do create laws to stop housing being built...please read "The Color of Law." We still feel those ramifications in the housing market today. As for landlords being able to make a profit if they are upside down, please take a look at how tough the process is to apply for this (must use the NOI from 1977 or wait 2 years if you bought it and don't have recent records, plus other tough hurdles) 👉 housing2.lacity.org/wp-content/uploads/2024/02/Just-and-Reasonable-Application-Packet-2023.pdf As for the studies, I understand some people assume the studies AGAINST rent control are flawed because of who is funding them (but again, that is a fallacy and you need to actually review the methodology and data to see if it's flawed)...I was asking for several studies showing that rent control DOES work...why not link those in the voter guide? No need to refute what I say, just bring some solid arguments and research showing how tighter rent control will help...then it's an easy yes.
Why not become a landlord and swim in money like Scrooge McDuck? It's so easy, without risk and no work. Just raise rents and gouge every time you want to buy a new Bentley. Join us!
WHY IS RENT HIGH IN CALIFORNIA? Stop passing nonessential propositions. They are passed on as property tax. Property tax is RAISED EVERY YEAR with penalty for late payment. That is passed on as RENT. It's ok to punish scumlords but I know many, nice property owners who would love to rent out in laws in Nor CA but don't want to deal with pro squatter laws. Many were scammed. They rather wait for right candidates and keep the property empty.
Is it part of the LIHTC program? AKA affordable housing? Those are exempt from rent control and the rent increases are part of the contract with the Federal government. Is the building less than 15 years old ?
If you do a higher place, then Transfer is the 200k, and the second transfer is 200k + is it now purchase price 1.1 - 1mil so it’s + 100k instead of + 300k
I was a small time landlord in California. (I own a one bedroom condo in the city which I live in myself, plus one modest single family home in the countryside that I used to rent for income.) I preemptively stopped renting the single family home when my last tenants moved out based on the general direction state legislation was moving in. I'm not bothered by rent control per se since I've never raised anyone's rent by more that the amount currently prescribed by state or local law. But I was very much against any law that would take away my ability to re-inhabit my own home when the time came since the home was always meant to be my retirement destination. If these laws are meant to keep renters in their existing homes at a stable price, they may work. But the side effect is many people like myself are removing units from the market altogether.
It's too late, the rent has already been increased, and now, after only four years, they expect us to vote yes as if it will make a difference. Come on, the city is just trying to gather as many incentives as possible.
When the costa hawkins past, there were tons of developers building housing. What stopped construction was the 2008 financial crisis. Currently, housing is being built, and we have state wide rent stabilization. This is a balance that we need to maintain. Rents are high, well salaries are too damn low. Fight for fair wages.
People 33 is a bad idea. Should renters who vote yes and become home owners, their investment won't grow in value. If it passes, It will go like this, should it pass.. 1st: Developers won't see the value in building more housing, and buyers won't see real equity growth. 2nd. Housing that does exist, will be our only supply, and that will come at a huge cost to buyers. 3rd, buyers (90% are usually past renters) won't see a growth in their investment 4th: The government will write all the rules so NO ONE TRUELY IS AN OWNER. 5th: We will be left out worse off than New York style rent control.
Just had an agent try to get me to sign a 6 month exclusivity agreement. I said I would only agree to exclusivity on the exact address we were offering on. He said he needs it signed for his brokerage, I said no thank you. Three minutes later he sent me the agreement I requested. I now have the appropriate agreement, but trust is still broken.
ALL rent control causes higher costs for tenants. Why? All business enterprises pass on all costs of operation to their business. When they can’t do this legally, they quit the business. That is why there is a housing shortage and a rental housing shortage. Government or citizen citizen sponsored controls of services alway end in higher costs of the services or a loss of the service or product.
Is it proper for the owner to pass down his higher insurance costs and property taxes onto the tenant? In my case, this keeps happening. The place I rent is already paid off.
A statewide rule seems smarter. Prop 33 would leave it to each municipality, so that's messy. I do support a law that covers all rentals, not just the old buildings - thats not really fair. I like Costa Hawkins. Every unit should begin at market price.
It's called communism. Allowing the government to tell you what to do with your own property. My property, my choice. Reject communism, vote no on prop 33!!!
Let me see: Property insurance is up (companies leaving the state), utilities keep going up, trash service up, labor to fix things is up, prices of supplies are up; but they want the rent to stay the same-because companies are making record profits; but don't want to increase salaries and people can't afford it. I see. And I am the bad guy because: I worked my rear end off; many YEARS working TWO jobs back to back, to SAVE for a down payment; paid my debts on time to have good credit to obtain a mortgage; learned to fix many things in order to SAVE more money, paid that mortgage for many years faithfully to this date; the property has appreciated in value (because there are not as many available); and because the same government has depreciated the value of the dollar through printing out of thin air to give it to their "war machine" friends. And because I locked that mortgage payment years ago and I am able to rent it making a profit? Yeah, it is a HELL NO for me on Prop 33.
It's called communism. Allowing the government to tell you what to do with your own property. My property, my choice. Reject communism, vote no on prop 33!!!
Can anyone answer this question. RSO mom and pop duplex CALIFORNIA owner evicts for owner occupancy / the law is not clear when can you finally re rent for market value. The bulletin states that the family or owner must remain in the unit for two years and then re rent the unit at the previous rental rate, including the 4% of time it was off the market. BUT WHEN CAN YOU ACUTALLY GET MARKET RATE RENT BACK FOR THE UNIT.
@whereyallat2day I'm starting to think duplex owners should team up against this crap, & sell each other a unit for a month, & then sell it back, and then you'd be able to reset price. 😅
Typical gov proposal, expands the optics that gov has more power while imposing upon the real authors of gov, the people. Authority comes from the authors. Who made who, did gov make the people or did the people make the gov.? Since when does the clay control the potter? Thanks Christian and Michelle and W.A. crew
It's called communism. Allowing the government to tell you what to do with your own property. My property, my choice. Reject communism, vote no on prop 33!!!
I am a "Mom and Pop" landlord with only a duplex in Dana Point that I rent out under market rate already. I'm a hard "No" on Prop 33. Even though I don't think the city of Dana Point would not enact crazy rent control restrictions. I hope. Problem is, I don't now how crazy anything COULD be if Prop 33 passes.
Same here, I am a small landlord and my rents are under market. I live in a small town (Tehachapi), if rents were caped with no reduction in property tax and insurance, I might have to think about selling.
It's called communism. Allowing the government to tell you what to do with your own property. My property, my choice. Reject communism, vote no on prop 33!!!
@@robertjones2820land lords having to sell their spare homes is the best argument one could make for voting YES on 33. “I rent under market value” is such a scam statement, you’re simply competing against other land lords who have outrageously inflated prices. For example, if “market value” is 2,000, on a place that should be 1,000, and you’re charging 1500, you are not charging “under market value”, you are charging 500 over what it should cost.
Definitely no on 33. There's enough data to realize that rent control hurts affordability. The only people who benefit from this are people who have been renting and do not/can't move. The ones it hurt the most are people who have to move.
@HeartOfFaith4Jesus but if you're lucky to have been one of the renters already there, it's probably for way under market value. The only caveat is that you can't move. Otherwise, you'll have to pay the new rent controlled, driven market value.
Well, I believe in a free market, so all rent control is gov overreach imo. [To me, the answer is, get millions of illegals out, & that'll saturate the market with rentals, which will put the market back at a fair rate. And, we're not supposed to have monopolies, so I'm not sure why billionaires are allowed to buy everything, 🤔 And, I think counties should approve more development & single family homes built.] Ignore the double negative, grammar police. 😂
I received a 3day pay or quit..I offered to pay rent before the 3days were up and my landlord said no . But her attorney sent me the the notice and had her address where to bring the Rent I tried calling the attorney was not successful in getting in contact with her for the first 4 or 5 times calling and leaving messages and once I did get her on the phone I told her my situation and she acted like she didn't know what I was talking about so she told me she would have to get back with me which she never did. This was on 8/1/2024 when I offered to pay the Rent talking with the landlord owner when she said no she also told me she was not going to talk to me I would have to contact her attorney in which I did. So the next thing happens I had a note taped to my door was a lock out from the sheriff's which was just recently my lock out date is on 10/22/2024 these are the only 2 forms I received and both of them were taped to my door
You need to reach out to Legal Aid in your area ASAP! And you should also try going down tot the courthouse to explain the situation and see what you can find out...it does not sound like you were given proper notice for the unlawful detainer.
That could be your answer...they may not be giving you a copy because your name is NOT on there. Maybe they can compromise and just give you the first page so you can confirm?
Thank you for your videos! I am going through probate, the property was my Mom's and is in Torrance. It was exempt because she lived in one of the units. I gave the tenants that notice. While in probate is the property still exempt from AB1482? I do not live there. Also the tenants have lived there for 2 years and are currently on a month to month. Can I terminate the lease if I decide to sell the duplex? I assume if yes it would need to be 60 days or more? Thank you in advance for your input!
Thanks for watching and sorry for the loss of your Mom! No, unfortunately the property lost the exemption when your Mom died. The law requires that the owner live in the unit when the tenancy starts and when the tenancy is terminated. Torrance does not have special renter protections right now, so it is relatively easy to terminate the tenancy even with AB 1482 if the proper steps are followed. We specialize in listing and selling properties like this 👉 calendly.com/wireassociates
@@WIREassociates Thank you so much for your reply! In reference to terminating a tenancy in Torrance, even with AB 1482 I assume the only way to terminate a tenancy would be one listed under one of the no fault reasons? Thank you, will take a look at your site.
Hi Christian. Love your vids. Does this work in 2024? I’m potentially buying a property with tenants. Should I still have tenants sign a new lease with me then do the “cash for keys”. Or don’t sign a lease with them. I won’t take it as legal advice and will seek attorney advice. Just want to know what you think. Thanks
Yes, Cash for Keys still works, but remember that some areas and property types have their own rules related to a tenant buyout. No need to sign a new lease before you start.
I'm paying for my neighbors water and my laundry was connected to my meter I asked them to fix the problems in the house never did i stop paying rent and ask them to fix it and now I got a eviction notice I been her for 6 years they got the property in 2022
It’s awesome that you’re providing updates on these important questions for both tenants and landlords in California! Housing laws can be so confusing, and it’s essential for everyone to know their rights and responsibilities. Rent increases, access to the property, and eviction rules are all such critical topics, especially in today’s market.
What about if a cotenant is given a release from a joint tenancy after July 2024, but the security was collected July 1, 2020, so lawfully held until cotenant asks for the entire security deposit to be “transferred” to the remaining tenant after deductions and cleaning occur, if any, after departing tenant vacates. Walkthrough inspection was unremarkable, and the deposit is 2400 with current rent 2150, up a bit from move in. It is a month to month by the terms of the initial fixed term lease that rolled it over to a month to month agreement with all other terms to remain. Tenant in possession is wanting to stay and says he can pay rent and that his current income is SSDI only until he finishes his licensing hours by the end of the year after which he should be hired and paid. He offered to show bank statement with enough to cover full rent and we told him it wasn’t our policy. It’s a one bedroom so we don’t think he’ll stay long more than a month and told him he really can’t stay without an agreement that has other people covering the rent that aren’t tenants or his guarantor. So, not expecting any damage from a new walkthrough for him next month. But in the security deposit still “old” or is it “new” given a joint tenant vacated and didn’t want any of it back she just said give it all to remaining tenant.
My landlord just texted our house group chat that he would like to put the house on the market next week. I live in Los Angeles. We had a verbal agreement until May 2025 and most of us were not looking for housing until he sent that text. we have been living there for over 3 years and had a signed lease agreement for 2021-2022 but after that it went month to month (verbal agreement) I’ve been paying rent via check this whole time but my house mates (3) started paying in cash for a discount in 2022. It’s Oct 2024, what’s the earliest we would need to leave and if my house mates move out am I (and anyone remaining) required to pay the remainder? Also it’s not certain if the property has a buyer he just wants to put it on the market and wants us to move out if it gets sold.
There are strict rules in most of LA for termination of tenancy and selling is NOT a valid reason to terminate...you don't need to move until given a valid notice to terminate tenancy. As for paying the remainder if your roommates move it, it will depend on what the lease says. Most likely you are all on the hook for the rent until the last of you moves out.
@@WIREassociates We are currently on a month-to-month arrangement since our agreement to move out in May 2025 was only verbal, and the landlord never signed the drafted lease. Are you saying the signed 2021-2022 lease would determine if the remaining tenants need to cover the rent share? My concern is that with the house on the market, others may move out before May, even if it hasn’t sold, due to the uncertainty. Thanks for the response though, I will be checking the mail for any official letters of notice.
Hi! Has the law changed in 2024? How much notice does a tenant need to give landlord to vacate after an annual lease has expired and month-to-month kicks in?
Huh section 8 didn't send me or my landlord a termination letter that I was terminated for not updating my income. I was terminated for 3 months without knowing So the landlord gave me a 3 day notice to pay or quite with the amouth of 8thousand for the 3 moths I was terminated for. The landlord gave me only an extra day "so 4days to get out" on the 4th day they pick up the keys & had me sign a paper that everything in the house can get disposal of. I lost alot ,& my mother help me for a day but she couldn't do much. Do you think they did me dirty or they were in their right? Plus a week later I was assaulted while homeless hospitalized from a head injury from a group of teenagers hitting me in the head with an object causing me to get a disability epilepsy, now I'm homeless with a disability with no money. Any advice would be great, thank you 😊
That was handled illegally by the landlord...after a 3 day pay or quit, if a renter does not pay, the landlord moves forward with an unlawful detainer action. They don't get to kick you out immediately, it must go through the court system. Sorry this happened to you. There might be an attorney who will take this case on contingency to go after the landlord....
