In the News
According to Apartment List, the median rent in Los Angeles has increased by 0.3% since last month, but is still down 1.1% from last year. California in general has seen rent growth of 2.5% over the last year, with the United States averaging a 0.4% decline.
Los Angeles Increased 0.3% Since Last Month
Law to Be Aware Of
The latest City of Los Angeles Renter Protections Notice is available. It must be given to your tenants and posted in a common area. The notice covers tenants’ rights, relocation assistance amounts, and the increase in the Economic Displacement Fair Market Rent threshold by bedroom size.
General Real Estate Tip
With rising interest rates, it can be difficult to buy and, in some cases, to sell. However, if you’re thinking of selling a home you bought with a VA, FHA, or USDA loan, you might be in for a pleasant surprise: your home could sell faster. Government-backed loans can be assumed by a new buyer. That means the next buyer could take over your 2.5% interest rate and even get a second-position loan up to 90% loan-to-value to cover the gap between the loan amount and the purchase price. This expands your buyer pool (and your options if you’re thinking of buying a new home). I go over it in youtube.com/watch?v=0E4yN-z7aIc&_pxl=djoxLGM6MTVjMDM2MzEzMTM1NjEsYTox. Reach out if you have any further questions.
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