Attention Property Owners in Los Angeles County!
On February 25th, Los Angeles County approved a sweeping eviction moratorium aimed at protecting tenants financially impacted by the recent wildfires. This new regulation applies to all 88 cities and unincorporated areas, covering every type of rental housing. The moratorium is effective from February 1st to July 31st and gives renters an extensive 18 months to repay any back rent owed.
Here's why this is a crucial moment for property owners to consider selling:
Moratorium Details:
· Effective Dates: February 1st to July 31st
· Repayment Period: Renters have 18 months to repay back rent
Eligibility Criteria for Tenants:
- Residency: Lived in the rental unit prior to January 7
- Income Loss: Experienced at least a 10% loss of income
- Household Income: 2024 household income equal to or less than 150% of the Area Median Income (for LA County, that's $147,300 for a family of four)
- Wildfire Relief: Enrolled in or applied to a wildfire relief program, unemployment benefits, or other qualifying income assistance program, or actively seeking employment
- Self-Certification: Self-certify in writing to their landlord each month rent is past due, citing direct financial impact from the wildfires
Why Sell Now?
Given these extensive protections for tenants, property owners are likely to face prolonged periods without rental income. This could result in financial strain and uncertainty for landlords. The current real estate market presents a unique opportunity for property owners to capitalize on their investment and sell their properties before the moratorium's full impact is felt.
Take Action Today!
Explore off-market opportunities and receive a FREE property valuation. This is an ideal time to evaluate your property portfolio and make informed decisions to safeguard your financial well-being.
Contact us now to discuss your options and seize this timely opportunity to sell your property.
Take control of your investments and secure a prosperous future. Let’s work together to make the best choice for your financial stability!
Frank (310) 503-4158, Viktorie (424) 301-0075.
