Home Buying in Santa Monica>Question Details

ahmadfred, Home Buyer in Los Angeles, CA

I want to buy a home in Santa Monica that has a rent control tenant living in it and will not be vacant at the close of escrow. How can I move in?

Asked by ahmadfred, Los Angeles, CA Mon Feb 4, 2013

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6
Hi,
Make sure you verify the tenant does not have TORCA rights. If they do, they don't ever have to leave unless they decide voluntarily or through a pay-out, but they must not feel pressured. For other rent control renters, call the office of Santa Monica Rent control and discuss the particulars of that address. Be sure to check with the City. If you have additional questions, please call me directly.

Elizabeth Sorgen
310-469-0500
0 votes Thank Flag Link Wed Feb 13, 2013
You will need to contact the City of Santa Monica Rent Control Board and find out if the property is under rent control, and how long the tenant has lived there. There are apartment buildings which were converted to condo units that had rental tenants in place at the time of the conversion. The tenants were given the first right of refusal to purchase these units under TORCA. These tenants were grandfathered in...and now today, it is almost impossible to get rid of the tenants. You can attempt to buy them out, however, it will cost a pretty penny.

If you are really interested, call the rent control board with the address and they will tell you what you need to know.

Good luck!

All the best,

Kat
0 votes Thank Flag Link Tue Feb 5, 2013
Hi,

Please give me a call and I'd be happy to help you find what you're looking for.

Elizabeth Sorgen
310-469-0500
0 votes Thank Flag Link Tue Feb 5, 2013
Did you write property to be delivered vacant into your contract? That's the easiest way. If not, if your tenant agrees, you can pay them a relocation fee that can vary between $7,900 - $ 19,000.

The SoCal Investment Real Estate Group @ Sotheby’s International Realty does these kind of deals all the time. Please let us know if we can help.

Best….

Jodi Summers
The SoCal Investment Real Estate Group
Sotheby’s International Realty
310.392.1211
jodi@jodisummers.com
http://www.SantaMonicaPropertyBlog.com
License # - 01343854
**
The miracle is not to fly in the air, or to walk on the water, but to walk on the earth. —Chinese Proverb
0 votes Thank Flag Link Mon Feb 4, 2013
There are a lot of good deals that just came onto the market. Here is a link with all the income properties in Santa Monica:
http://heatherpaulonline.com/santa-monica-investment-propert…

I both live and work in Santa Monica and would love to assist you.

Feel free to email me or call me anytime.

Have a wonderful day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
http://www.HeatherPaulOnline.com
0 votes Thank Flag Link Mon Feb 4, 2013
Hello,

Are you already under contract? Were you made aware of this before hand?

Susan@SusanBour.com
0 votes Thank Flag Link Mon Feb 4, 2013
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