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9 sats \ 6 replies \ @freetx 28 Jan \ on: Renting a townhouse in Los Angeles is officially out of control econ
I don't blame you for not wanting to be a landlord. Seems like a mega hassle....
If she is willing to put up 6 months in advance, perhaps she should just get a loan and buy it?
funny you should mention that, when she first moved in, my agent said she expressed interest in buying the property (Nov 2023).
Clearly, her current rent which was market rate in 2023 is below market in 2025 because of 125,000 homeowners displaced in Malibu, Pacific Palisades and Brentwood.
update: I became an accidental landlord in 2022 after my father passed away. My mom tried to take over my dad's landlord tasks and I quickly realized I needed to intervene.
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One thing that would worry me in the current climate is once the public starts howling about housing shortage / high prices, the local gov is going to clamp down on landlords for "price gouging".
This shortage could go on for longer than we expect....so prices may continue to rise. Hard to know whats right move, but I guess if you have a chance to make an outsized profit right now maybe its best to take it.
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plus the home insurance crisis in CA which will only get worse
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Complaints about price gouging already started
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CA attorney general is more concerned with price gouging than looting.
Criminal complaint. Max penalty is one year in jail and $10,000 fine. Most people can pay the fine but jail is harsh.
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Then they're fools
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