Quote:
Originally Posted by 2sleepy
I thought mandatory retrofit was for apartment buildings and townhouses? Both the owner and the lessor claimed that there was no one living in the building.
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One of the properties I manage is a medical clinic... in 22 years the man that owns the property has never seen it... he has never ever seen it.
The California property was bought as part of a portfolio by a wealthy individual in New Jersey and the Hospital has a long term triple NNN lease as we are responsible for everything... we built the property...
Just like the city of Oakland sold city hall and does not own it... yet, the city is responsible for everything under the terms of the lease...
It is very conceivable for owners of commercial property to have little to no contact when a NNN lease is in place...
Oakland is one of the most pro tenant rights jurisdictions in the country... as a residential landlord you are not permitted to give notice without a reason and the reason must be approved by the city and a copy of the notice submitted to the city for review.
In the old days if I had a tenant I was concerned about the simplest way out was simply not to renew the lease... this is no longer possible for most properties in the city...
I own part of a post office... I am the ONLY partner to ever set foot on the property... for the others it is simply a long term investment.
The same could be said about a friend of mine that rented his mother's home when she went into a assisted living facility... had a real estate company prepare the lease... my friend said he never hears a word, the rent is always paid early and the when he drove by it looked great... come to find out it was a grow operation and the inside of this million dollar home is all black mold... the owner and my friend her 67 year old son were victims...
Habitability laws apply to residential occupancies... just as places of assembly, hospitals all have specific requirements.
A warehouse leased for dry storage does not fall under residential or assembly requirements...
$5000 for a 5000 square foot warehouse is a dollar a foot... and is actually below market or what I would expect for an old empty building without amenities...
Oakland has one bedroom condos that rent for $2500... this was an entire warehouse for 5k...
The owner was not getting rich here... probably glad to have a tenant so the place would not be empty... which is another problem in Oakland.