Increasing rent and deposit

[beisenherman]

What is the name of your state (only U.S. law)?California
My condo building was built in 1982 in Tarzana, CA. I have had a renter since 2002. I have an annual lease agreement with a one time deposit of $700 and rental amount of $925. Can I send a 60 day notice increasing deposit monies another one time amount of $700 and increase monthly rent by $400 starting April 1 2015.

 

[Zigner]

What is the name of your state (only U.S. law)?California
My condo building was built in 1982 in Tarzana, CA. I have had a renter since 2002. I have an annual lease agreement with a one time deposit of $700 and rental amount of $925. Can I send a 60 day notice increasing deposit monies another one time amount of $700 and increase monthly rent by $400 starting April 1 2015.

You need to find out if your unit is under rent control. Read this and go from there: http://www.lafla.org/pdf/hou_rentcontrol_eng.pdf

 

[Just Blue]

What is the name of your state (only U.S. law)?California
My condo building was built in 1982 in Tarzana, CA. I have had a renter since 2002. I have an annual lease agreement with a one time deposit of $700 and rental amount of $925. Can I send a 60 day notice increasing deposit monies another one time amount of $700 and increase monthly rent by $400 starting April 1 2015.

You need to follow the LL/Tenant laws of CA. And when your building was made is not an issue.

 

[LdiJ]

What is the name of your state (only U.S. law)?California
My condo building was built in 1982 in Tarzana, CA. I have had a renter since 2002. I have an annual lease agreement with a one time deposit of $700 and rental amount of $925. Can I send a 60 day notice increasing deposit monies another one time amount of $700 and increase monthly rent by $400 starting April 1 2015.

The advice given by the others is important.

However, I will also add that from a practical standpoint, its very likely that you will lose your long term tenant if you do that. On top of that, with 12 years worth of ordinary wear and tear (which you will NOT be able to charge to the tenant) you will likely have to spend quite a bit of money to refurbish the unit in order to rent it to someone else.

 

[Zigner]

You need to follow the LL/Tenant laws of CA. And when your building was made is not an issue.

The OP may also have to worry about rent stabilization laws (rent control) since Tarzana is actually a neighborhood in the City of Los Angeles. I think the OP is at least aware of this, since the date the building was first used as a rental is actually important. From my reading of da rules, his building may not be subject to the rent control laws because it was built after 1978. That's why I recommended that the OP check in to it.