I have reached out to a ton of multi-unit property owners to see if they are interested in selling. The #1 response I get from the owner is that they can’t sell because their tenant stopped paying rent, they refuse to vacate the property, and the owner is not allowed to evict them. No one wants to buy a property where you have to take over that type of situation.
Looks like changes are coming soon.
Los Angeles County will move forward with a plan to lift its pandemic-era eviction moratorium and other renter protections by the end of the year, according to a 3-2 vote Tuesday by the Board of Supervisors.
The county’s moratorium, which took effect in March 2020, has protected tenants against evictions for nuisance, unauthorized occupants, and not providing entry to landlords.
With the eviction moratorium coming to an end, I’m predicting a huge increase in multi-unit properties hitting the market in 2023.
