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Old 03-20-2021, 07:50 AM
 
Location: Redwood City, CA
15,250 posts, read 12,955,121 times
Reputation: 54051

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Quote:
Originally Posted by brendaleeoc1 View Post
Hi Friends...

Like a lot of folks, I am getting tired of CA for many reasons. I have a small place in Texas I bought and am trying to decide if I should rent, or sell my place here in OC. I am wondering about renting in the time of COVID, I do NOT want to get someone in and then have them somehow not have to pay rent due to COVID laws. Before I get flamed for being 'insensitive'...I once many years ago had tenants that quit paying rent and it took me 8 months to get them out, I almost lost my home over it..so I do NOT want put in that position again.
Eight months, ouch. It took me five months to get the deadbeats out of our California rental. There are plenty of activists who will coach deadbeats on staying in the house free as long as possible.

Quote:
I really don't want to sell my house, I may want to return at some point...but please if you know, what are the current regulation/laws regarding COVID and tenants?
I don't think it matters what the current laws are. They're changed at a whim. But you can bet the landlord will get the short end of the stick.

We're selling our California home before the end of the year. If we come back to visit, that's what hotels are for.
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Old 03-21-2021, 08:08 AM
 
Location: Corona del Mar, CA - Coronado, CA
4,477 posts, read 3,299,218 times
Reputation: 5609
Quote:
Originally Posted by Vic Romano View Post
Consider selling the OC home and buying another rental (can be anywhere) using a 1031 exchange. There are rules surrounding the exchange but it could be worth it.

I had a rental, sold that rental and bought the home I live in now. After I bought the home I rented it for a couple years then sold my primary residence and moved into the rental.
This a bit of an older topic, but I agree with this advice. Prices are high and mortgage rates are low. I don't think either will last.
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Old 05-20-2021, 08:41 AM
 
256 posts, read 616,925 times
Reputation: 231
With current eviction laws there is no way I would be a landlord in CA.
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Old 05-20-2021, 12:41 PM
 
925 posts, read 1,065,051 times
Reputation: 1547
Selling your OC house is fine if you never plan to return to CA. I have two friends who moved to Texas and hate it and want to return to CA. They each sold a house with very low property taxes due to Prop 13. Now they can’t even afford the property taxes on a new house in CA.
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Old 05-21-2021, 03:00 PM
 
Location: Sandy Eggo's North County
10,300 posts, read 6,827,619 times
Reputation: 16857
Quote:
Originally Posted by BGS91762 View Post
Selling your OC house is fine if you never plan to return to CA. I have two friends who moved to Texas and hate it and want to return to CA. They each sold a house with very low property taxes due to Prop 13. Now they can’t even afford the property taxes on a new house in CA.
OR Texas!
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Old 05-25-2021, 09:41 AM
 
Location: OC
12,828 posts, read 9,547,378 times
Reputation: 10620
Renting sounds like a losing proposition. Seems like landlords aren't a protected class here.
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Old 05-26-2021, 06:26 AM
 
Location: Full Time: N.NJ Part Time: S.CA, ID
6,116 posts, read 12,593,605 times
Reputation: 8687
I rented my CA house for a few years, and while we got very lucky with great tenants, it just wasn't worth the extra $$. If I knew I'd never be back and the house wasn't sentimental (in the family), I'd sell. I watch home sales in the area and I'm amazed with they're bringing.
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Old 06-01-2021, 12:21 PM
 
Location: OC
12,828 posts, read 9,547,378 times
Reputation: 10620
Back again. Even w/o Covid, I would not want to be a landlord, especially in CA. Think of repairs, paying a property manager, running credit, etc. And as you can see, dirt bag tenants are very willing to take advantage of situations.
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