IET Real Estate Los Angeles Blog

PLUM Committee Stalls on Home-Sharing Ordinance

Posted by Ben Nicolas on October 24th, 2018

This Tuesday, Oct 24th, 2018 a Special Meeting of the Planning and Land Use Management (PLUM) Committee of the Los Angeles City Council convened to hear public comments on the proposed Home-Sharing Ordinance and adjourned without conclusion, again. The meeting was attended by members of the UNITE HERE Local 11, the Los Angeles Vacation Home Rental Alliance, Los Angeles Tenants Union, as well as concerned area landlords and home-share advocates. In the 3 years since the ordinance was proposed, it remains under review.

On June 2, 2015, City Councilmembers Mike Bonin and Herb Wesson first introduced the motion to direct the Department of City Planning to prepare an ordinance governing the use of short-term rentals (a portion of a residential building…

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Harbor City Townhome For Sale 4Br/3.5Ba 1830 Sq Ft Built 2005 - Harbor Pines Neighborhood

Posted by Ben Nicolas on June 11th, 2017

Open House 6/11/17 12-2pm - $515,000 View the Virtual Tour Cape Cod style home in quiet Harbor Pines neighborhood Intimate 7 unit Gated Community Built in 2005 No shared walls=SFR feeling Upgrades include: oak hardwood floors, gourmet kitchen w/ Brazilian granite counter tops & walk-in pantry, real wood plantation shutters, stainless steel appliance package 2x car garage Reverse layout = lots of natural light & peek-a-boo views of city Dual sided fireplace in living room/dining room Central heat (no air) Great opportunity to own high quality home at entry level price Conventional Loans only complex not FHA/VA approved Less than 2 miles to whole foods, 24 Hour Fitness, Costco &…

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4br/2b SFR $419k w/ Central Heat & Air -- Vermont Vista 90044

Posted by Ben Nicolas on April 23rd, 2017

Price Reduced $30k! - Motivated Seller!! - $419,000 All offers Welcome - Including FHA/VA and all Down Payment Assistance Programs 4x bedrooms 2x full bathrooms Well maintained home in good condition. Property has laminate flooring and Washer dryer hookups. Property had central heat and air w/ ducting installed in last 2 years. 2x remodeled bathrooms Garage has been recently re-built Gated front yard with long driveway and large 2x car garage alley access for RV or boat in back yard (alley locked by city so no through traffic) Big house ideal for large family. Extremely motivated seller bring any and all offers FHA/VA offers welcome. Showings with Appointments only - DO NOT DISTURB…

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What You Need to Know about Tenant Buyouts in Los Angeles

Posted by Ben Nicolas on February 16th, 2017

The Rent Stabilization Ordinance (RSO) has brought about a lot of changes for 2017. Among the most important of these are the Tenant Buyout Notification Program, or "Cash for Keys". Many of us have probably heard of, if not experienced firsthand, a landlord looking to strike a deal with a tenant to get them to move out of their unit. This tends to happen a lot in developing neighborhoods, where someone is looking to renovate an entire building and reopen at a higher pricing tier.

As this trend has grown, the city has taken notice. Through the Cash for Keys program, tenants in RSO covered housing will be better protected as tenant buyouts become more regulated and streamlined.

 

Knowledge is Power

 

One of the main ideas behind RSO changes for 2017…

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News and Updates from the HCIDLA Public Hearing - South LA February 2017

Posted by Ben Nicolas on February 3rd, 2017

 

The Los Angeles Housing and Community Investment Department (HCIDLA) held a public hearing on Wednesday, February 1st down on Vermont and 85th street. The purpose was to discuss how federal funds are being used by the city to help communities in Los Angeles. Here's what they shared...

 

Five Years Later 

The speaker pointed out that HCIDLA was now in its 5th year of its 5-year program. This program has had four main objectives to help improve conditions. These are: 

• The Community Development Block Grant

• Home Investment Partnerships Program

• Emergency Solutions Grant

• Housing Opportunities for Persons with AIDS

The U.S. Department of Housing and Urban Development required that the city submit plans for these grants, and it has been a…

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How New Apartments and Condos Affect Rents in Los Angeles

Posted by Ben Nicolas on January 25th, 2017

Los Angeles is a very big, mixed up, beautiful mess of a city. Itís got bits that are clean and pretty, others that have more grit with hidden drinking and dining gems hiding behind nondescript storefronts and in back alleys. There are two things nearly all of LA has in common: low vacancy and high rents.

Rental site, Zumper, shows most of West LA from Playa Del Rey to Brentwood sitting at average 1-bedroom rents of over $1,800, with a number of hotspots over $2,400, and with Santa Monica alone able to claim an average of over $3,000 as if trying to compete with San Francisco prices.

While most Angelenos feel the increases on their finances, eyes turn to the battalion of construction cranes that dot the skyline. Before long, those cranes get replaced by…

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Your Very Own Metropolis in Downtown Los Angeles - A Look at Metropolis Luxury Condos

Posted by Ben Nicolas on January 13th, 2017

 

 

If you’ve driven through downtown LA on the 110 in the last few months, you’ve probably noticed the new construction that’s been taking shape on the iconic landscape.

 

What you’ve been driving past is soon to be Metropolis, an ambitiously large-scale complex of retail shops, a restaurant, a boutique hotel, a garden and three towers of luxury condos that start reaching into the skyline from six stories above the street.

 

Here’s a rundown of the three residential towers.

 

 

Tower I 

This tower has already sold most of its availability, and there’s every indication that they will all be sold by the time the tower is available for move-in. Offering 308 units in its 38 stories, this will be the first of the towers to open. It's luxury…

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Updates to the Rent Stabilization Ordinance for 2017

Posted by Ben Nicolas on January 13th, 2017

Increasing numbers to tenants are becoming familiar with the Rent Stabilization Ordinance, and most rental property owners are already familiar with it. For more information on the Los Angeles RSO, have a look here.

 

RSO and most of its regulations have been in place for some years now. However, there are some changes taking effect in 2017 that tenants and owners should both be aware of.

 

Rent Registry Ordinance

 

Effective as of October 4th 2016, the LA City Council has enacted the Rent Registry Ordinance, which applies to all properties covered under RSO. 

 

What landlords need to know

 

• All properties under RSO must be registered by the last day of February each year
• A separate form must be submitted for each…

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Looking for Luxury Condos in Koreatown? Checkout Element 436 at 436 S. Virgil Ave.

Posted by Ben Nicolas on January 13th, 2017

 

Down on the corner of South Virgil Avenue and 5th Street, a short walk away from the bustle of 6th street and Wilshire Blvd, are the luxury condos of Element 436.

 

Having opened its doors in July 2016, Element 436 is a new structure that houses luxury condos near the heart of Koreatown. All residences offer either 2 bedrooms and 2 baths, or 3 bedroom and 2 baths with varying floorplans. Square footage ranges from 1,042 to 1,164 for the 2 bedroom homes, and from 1,341 to 1,385 for 3 bedrooms.

 

Prices have more variance than sizes, starting at $597,600 and reaching up to $914,500 for penthouse level homes. These prices have been rising as more residences are being purchased, so hesitating on getting a spot here won’t do you any favors.

…

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She Sheds & Man Caves - Another potential new source of liability for Los Angeles Real Estate Professionals??

Posted by Ben Nicolas on July 21st, 2015

This article headline caught my attention. 

 

Now I guess every builder/developer/real estate investor/agent/realtor better mention that any excess undefined area of a property could be used as a potential "she shed" as well as a "man cave" or they might be exposing themselves to a lawsuit over sexism & gender inequality...FML

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