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#331501 - 03/17/10 10:28 PM Foreclosed SFR in rent controlled area - please help!
truno Offline
Member

Registered: 08/17/08
Posts: 200
Loc: california
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#331506 - 03/17/10 11:30 PM Re: Foreclosed SFR in rent controlled area - please help! [Re: truno]
LandBaron Offline
Member

Registered: 11/25/06
Posts: 186
Loc: Los Angeles
You should be very worried, if not terrified.
A SFR that is in a rent controlled area; sounds like L.A. City. It also sounds like this property is out of your normal marketing area.
My advice, request for it to be reassigned.

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#331515 - 03/18/10 12:41 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: LandBaron]
truno Offline
Member

Registered: 08/17/08
Posts: 200
Loc: california
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#331536 - 03/18/10 07:49 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: truno]
jbt4re Offline
Major Contributor

Registered: 03/04/07
Posts: 1718
Loc: SWI
First, you should call the rent control board for that area ask them for guidance or procedures in how to proceed with evicting the person/people in the house.

Second, call the attorney, talk to him and explain the situation, he/she may be able to interpret for you.

Third, get your broker on board and call you local board or state board legal hot line and see if you can get some sound advice.
_________________________




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#331538 - 03/18/10 08:09 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: truno]
LND Offline
Member

Registered: 01/06/07
Posts: 472
Loc: San Francisco
Hi Truno,

I don't want to sound brusque, but I've spent the last 10yrs specializing in distressed properties and rent controlled properties in SF, and I can tell by some of your statements that you are in way over your head. Some of your most inconspicuous statements are incorrect.

You definitely should not have sent that letter, but what's done is done. There was just a huge lawsuit in Oakland over that very thing.

I would try to assist, but rent control in SF in rife with legalities, so it's better that you utilize the advice of a RC attorney. These type of assets are best left to agents who specialize in this field. I would ask that it be reassigned so that you don't damage your relationship with this company.

I will one thing though - these people do not have to leave.

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#331555 - 03/18/10 09:55 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: LND]
Don Price (Pine) Offline
REO-BPO-R.E. Mod
Major Contributor

Registered: 03/12/08
Posts: 3268
Loc: Pinehurst, NC
I would do everything suggested *except* call the occupant's attorney - until you are advised to by your attorney - which I don't think will happen.

Good Luck - keep us updated on this
_________________________
Donald Price (Don)
Pinehurst, NC 'America's Home of Golf"

Pinehurst Real Estate | REO-BPO-Brokers.com | Blog | Join active|rain | Twitter | Facebook


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#331563 - 03/18/10 10:44 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: Don Price (Pine)]
truno Offline
Member

Registered: 08/17/08
Posts: 200
Loc: california
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#331572 - 03/18/10 11:40 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: truno]
Don Price (Pine) Offline
REO-BPO-R.E. Mod
Major Contributor

Registered: 03/12/08
Posts: 3268
Loc: Pinehurst, NC
To me the issue is that they gave you the card of an attorney.

You could call the attorney office just to see if they really do represent the occupants - but I don't know how you would give the attorney their names, other the occupants of address xyz.

But no matter what you do beyond that I would not discuss anything without knowing exactly where you stand. Since you asked the board you got to take what comes your way - lol

I have no way of knowing if what you have done is right or wrong , I'll quickly admit the left side does things, over there, that I don't understand. All I want is for you to feel comfortable you are doing things correctly.
_________________________
Donald Price (Don)
Pinehurst, NC 'America's Home of Golf"

Pinehurst Real Estate | REO-BPO-Brokers.com | Blog | Join active|rain | Twitter | Facebook


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#331574 - 03/18/10 11:51 AM Re: Foreclosed SFR in rent controlled area - please help! [Re: Don Price (Pine)]
truno Offline
Member

Registered: 08/17/08
Posts: 200
Loc: california
*


Edited by truno (03/19/10 05:27 PM)

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#331582 - 03/18/10 12:14 PM Re: Foreclosed SFR in rent controlled area - please help! [Re: truno]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3665
Loc: Dayton Ohio
I would have no further contact with the tenant.

Communicate with the AM and see what you should do. Likely they will put the assignment on hold and the Attorney will contact you with your next step.

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#331611 - 03/18/10 02:45 PM Re: Foreclosed SFR in rent controlled area - please help! [Re: REODayton]
Traveler Offline
Major Contributor

Registered: 11/14/00
Posts: 2259
Loc: The Coast
SFRs are exempt from rent control in most areas. Check your local laws, call the rent control district or an attorney.

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