Not on my watch. I own them, I decide. If it came to that, I'd leave the vacant and write them off as a tax deferment. All intertwined with the farm anyway.
Far as rent goes, I can set it wherever I want it to be. I usually rent my properties at what the projected maintenance cost plus the mortgage payment and RE taxes are, IOW, I want to just break even with no liability on my part.
If I exceed that parameter, I write off the difference as a farm related expense and it goes towards offsetting my tax liability, what I have a good accountant for. I have not owed the state or Federal government any tax liability in years. In fact, depending on farm conditions and new equipment purchases, I usually get a healthy refund.
All nice country estates with land, all brick ranches with ac and all appliances. Nice homes, I don't do slum housing. I'd live in any of them myself.
Yep... I lived in several myself... bought as a fixer, move in and fix and 12 to 18 months later move to the next fixer keeping the existing as rental... plus managed for others along the way...
First... no right to rent without zoning approval, registration and rent license... anything else puts one at odds with the full force of the law.
All business property subject to inspection.
It was not always this way but evicting anyone requires city approval regardless of court order.
Leaving property vacant is costly as it comes with 6k annual tax penalty in addition to whatever taxes are owed.
Covid rules add another layer in that tenant cannot be removed for non payment but property owner must continue maintenance and contracted utilities.
The thought was New York Rent Control would never come West but it has.
The amount of rent is based on a formula tied to past rent, circumstances of previous tenant departure and city published allowable increase factor.
Notices of all the above must be provided tenant along with other rights
Moving out tenant because owner wishes to occupy or sell comes with restrictions...
I sold a single family home and city made several visits to check status...
Had to provide purchaser info and then required buyer to substantiate it was in fact owner occupied and I had to provide documentation as to circumstances previous tenant vacated.
As mentioned, I have not bought a rental in years and continue transitioning out.
A friend in US military was hit with vacant tax attempt... city said condo was not occupied the minimum 50 days annually... had it been rented it required license... he had his niece staying but was not charging...
Removing a unit from rental stock is often not possible.
SF buyer bought a duplex and installed a pass through door and removed second kitchen appliances... grave mistake as city going after for reducing housing stock...
In Berkeley owner tore down delapadated cottage and now the footprint remains fenced off... not allowed to even have a garden as structure removed without permit.
The inspections even have tenants complaining or refusing which puts owner in jeopardy.
Inspectors have the right to open any door or attached cabinet... test any outlet, inspect all plumbing, fences, locks, windows and doors.
I've been nailed when tenant supplied stove had non working burner or when tenant changed receptacle to grounded where none existed or for hot water too hot...
Rant Over...
