Baxter Remodel
So this got started, really, last fall.
In this political climate, with rent stabilization
on everyone's mind and lips, this part of
the post may be hard for some to swallow.
But, landlords need an income to support
the housing of their tenants. It is not charity, it is business.
Their is no price stabilization of corporations when prices
get too high, because the market stabilizes itself.
But, the general climate now is that no one wants the market to stabilize rents.
Landlords should just provide "low cost" housing
because the city can't afford to!
OK, my ranting is done, back to negotiations with our tenant.
In this political climate, with rent stabilization
on everyone's mind and lips, this part of
the post may be hard for some to swallow.
But, landlords need an income to support
the housing of their tenants. It is not charity, it is business.
Their is no price stabilization of corporations when prices
get too high, because the market stabilizes itself.
But, the general climate now is that no one wants the market to stabilize rents.
Landlords should just provide "low cost" housing
because the city can't afford to!
OK, my ranting is done, back to negotiations with our tenant.
Negotiations in the earliest stages for tenant move out is
in the form of a"cash for keys" offer. (since we cannot
in LA just end a tenant's lease)
in LA just end a tenant's lease)
Cash for keys is a cash offer to a tenant, enticement for their
decision to move. It is set by the city, and it is NOT cheap.
In Los Angeles, that, besides using the Ellis Act, which is moving in as owner,
or owners child, if the owner is at least 50% owner, is the only way
to get the tenant out.
to get the tenant out.
Since this property is owned by 6, not 1 or 2, not an option.
Why, you ask, do we want a tenant to move?
The tenant is living in a sub-market rental, that is in very poor
condition and is a losing proposition for an owner. We cannot raise his rent
by more than 3% annually, so, there is no incentive to lose more $ to make
improvements. We thought the poor condition might cause him to look elsewhere
but he obviously couldn't care less what condition he lives in. Don't get me wrong, we
fix things that break and keep standards of inspection, but that is it.
but he obviously couldn't care less what condition he lives in. Don't get me wrong, we
fix things that break and keep standards of inspection, but that is it.
Can we just wait him out? He has been there longer than 20 years.
He ain't moving.
Hence, the cash for keys offer.
We honestly were very skeptical he would go for it.
But, he did. He moved out March 31st.
We walked through to assess the remodel needed.
Gardener had mistakenly gotten laid off by management.
So overgrowth everywhere.
Tenant left it cleaner than I ever have seen it.
He did not clean up himself when he lived in it.
At some point, he must have thought this orange paint was
a good idea.
The hardwood floors throughout had several
layers of paint that had chipped off and worn.
There were soft uneven spots as well as patched areas.
Don't know what he spread over walls, tile, floor and
ceiling, but it looked similar to raw cement.
Tub was atrocious.
Again, can never understand tenants style and desire
to paint lime green.
We knew there was a great deal of
Work to do, so as you can see,
We had quite a project in front
of us.
Time is of the essence for
investment property, so
with contractor already lined
up, we got going.
Demolition and removal of debris
from tenant left overs.
Terry, Taylor and Marty jumped right in.
I don't know how the yard got so out of control in 4 months
that the gardener was gone. This tenant put up fences
and one could never see into the yard.
I sized up project and tried to start on a plan.
Taking a break.
His fence and entrance.
This has to come down.
The kitchen was also demo'd by
Marty & Taylor, but I didn't get
Pictures till afterwards.
Don't know if you can see by the picture
Of the wall break between kitchen and living room, but these are Solid, yes solid, walls about 2-3 inches thick. Board and batten it is called. No room for in-wall outlets here. Conduit and circuits outside of wall is the only option!
We'll make the best of it!
New electrical throughout the house, outch, the budget.
Plumbing, well, miraculously, there was copper piping already under the house. We just needed new uprights and fixtures.
Foundation was adequate, but signs of some water damage due to sloping and broken concrete and bricks where water was getting under foundation.
What to do that wouldn't break the budget?
It all began with Marty repairing the concrete and Taylor and I installed a french drain to take water away.
Bricks removed, then Marty replaced new concrete.
All, so much better!
French drain work now
Next post, I attack this!
Gardener had mistakenly gotten laid off by management.
So overgrowth everywhere.
Tenant left it cleaner than I ever have seen it.
He did not clean up himself when he lived in it.
At some point, he must have thought this orange paint was
a good idea.
The hardwood floors throughout had several
layers of paint that had chipped off and worn.
There were soft uneven spots as well as patched areas.
Don't know what he spread over walls, tile, floor and
ceiling, but it looked similar to raw cement.
Tub was atrocious.
Again, can never understand tenants style and desire
to paint lime green.
We knew there was a great deal of
Work to do, so as you can see,
We had quite a project in front
of us.
Time is of the essence for
investment property, so
with contractor already lined
up, we got going.
Demolition and removal of debris
from tenant left overs.
Terry, Taylor and Marty jumped right in.
I don't know how the yard got so out of control in 4 months
that the gardener was gone. This tenant put up fences
and one could never see into the yard.
I sized up project and tried to start on a plan.
Taking a break.
His fence and entrance.
This has to come down.
The kitchen was also demo'd by
Marty & Taylor, but I didn't get
Pictures till afterwards.
Don't know if you can see by the picture
Of the wall break between kitchen and living room, but these are Solid, yes solid, walls about 2-3 inches thick. Board and batten it is called. No room for in-wall outlets here. Conduit and circuits outside of wall is the only option!
We'll make the best of it!
New electrical throughout the house, outch, the budget.
Plumbing, well, miraculously, there was copper piping already under the house. We just needed new uprights and fixtures.
Foundation was adequate, but signs of some water damage due to sloping and broken concrete and bricks where water was getting under foundation.
What to do that wouldn't break the budget?
It all began with Marty repairing the concrete and Taylor and I installed a french drain to take water away.
Bricks removed, then Marty replaced new concrete.
All, so much better!
French drain work now
Next post, I attack this!
