Decorative imageDECEMBER 2024

Santa's naughty list SQUATTERS

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What happens when “The Grinch” isn’t just a tale by Dr. Seuss?

In California, squatters are causing their own kind of holiday havoc—taking up residence in properties without a lease, rent, or a care for Santa’s rules. While the Grinch only stole gifts, these unwanted guests often steal months of rental income and leave landlords facing uphill battles to reclaim their property.

And here’s the kicker: The current laws in California often favor these so-called “Grinch squatters,” making it feel like landlords are stuck on Santa’s naughty list.

Dr. Seuss' The Grinch reminds us that even the grumpiest grinch can have a change of heart. Unfortunately, most squatters aren’t as redeemable! 😅

Let us help you keep squatters off your property and the Grinch off your lawn! Contact us today to learn how Power Property Management makes property ownership stress-free.

L.A. INCREASES OVERSIGHT ON NON-RSO PROPERTIES

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If you own rental properties in Los Angeles, it's important to know whether they fall under the city’s Rent Stabilization Ordinance (RSO). This applies to units built before October 1, 1978, and some that replaced demolished RSO units. If your property doesn’t qualify under RSO, newer regulations like the Just Cause Ordinance (JCO) may apply, which took effect in January 2023 and protects tenants in newer buildings. Knowing these regulations ensures you stay compliant with the city’s rent and eviction laws.

Key Takeaways

Rent Stabilization Ordinance (RSO)

Applies to properties built before October 1, 1978. It regulates rent increases and limits evictions.

Annual Rent Increases

These are capped under the RSO, typically adjusted based on inflation..

Relocation Assistance

If a tenant is legally evicted for reasons such as condo conversion or major renovations, property owners may be required to provide relocation assistance.

Exemptions:

Properties built after 1978, single-family homes, and certain affordable housing units may be exempt.

For more information on your rights and responsibilities as a rental property owner, visit the LA Housing Department's website.

Stay informed to stay compliant!