113 N Gale – Renters Alliance

City Negotiates Purchase of 113 North Gale Apartments for Redevelopment

July 19, 2023July 5, 2024 Mark Elliot 113 N Gale, Metro, Redevelopment

Every Beverly Hills City Council evening meeting is preceded by a closed session where confidential issues such as litigation, employment and real property is discussed. This week’s closed session agenda featured a city negotiation over the purchase of land at 113 North Gale. That multifamily property is adjacent to city-owned land that fronts on Wilshire and which the city wants to redevelop most likely as housing above retail. If the city and landlord agree on terms then the 113 N Gale parcel will be part of it. What does that mean for tenants at the Gale property?

Explainer

My Landlord is Asking for an Estoppel. Need I Sign It?

July 16, 2024July 29, 2024 Mark Elliot

An estoppel certificate is a legal document that simply establishes the terms and status of a rental agreement (or lease) for a third party like a prospective buyer. Typically a tenant is asked to complete an estoppel when purchase negotiations advance and that request may come from the current owner or an agent working on behalf of a prospective buyer. It is nothing to fear; it is a standard step in the sale of real property. In any case the lease or rental agreement may require the tenant to complete it. When presented with an estoppel to complete and sign you may have questions. Here is what you need to know.

Explainer