Tyler A. asked

⚖️  Law

The building I live in Los Angeles county in Los Angeles city in the Koreatown neighborhood was recently sold to a new owner who wants to renovate my unit and charge more rent. Instead of using the temporary relocation assistance fee schedule or any other relocation assistance program, they decided to offer me a cash for keys deal. I’m not sure this is the best option and or if I have any negotiating leverage. They have sent over an agreement and are waiting for me to sign it. They gave me July and August free rent to figure out where I’m going to move to but I can't seem to find anything I can afford. I began living here 5 years ago and the rent was 925 and now it’s only 1140. They told me I can move into another apt in the building but I would have to pay the fair market value of 1400. And if I just carried on in this unit undisturbed it would take me 5.5 years to get to 1400. Can I make a counter offer? What happens if I refuse their deal?

December 18th, 2024

Michael C. answered

Do not sign any agreement without speaking with an attorney that handles cash for keys deals. You co...

December 18th, 2024

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