Q: 3 co-own a house. 2 refuse to charge mkt rent against 3rd owner's wishes. Can 3rd owner raise rent on his 1/3 ownership?
3 people co-own a house in Los Angeles. 2 owners refuse to charge market rent against 3rd owner's wishes because their adult kids live in the house. Can 3rd owner raise rent to market rate on his 1/3 ownership of the house? House is not under rent control.
A: That makes no sense. Typically all 3 would have to agree to the rent increase. If the house is owned by 3 different owners, who is listed as the landlord on the lease? What are the rent-price terms of the lease? What is the form of co-ownership? If you disagree on fundamental issues, have you considered offering your co-owners to be bought out of your 1/3 of the ownership or otherwise filing for partition to be able to put your share on the market for sale? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AliEsq.com. I practice law in CA, NY, MA, WA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.
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