City of Los Angeles workshop explains changes to property registration, monthly inspection program
Los Angeles, CA: The Los Angeles (L.A.) Housing and Community Investment Department had a workshop Nov. 30 to discuss changes to the city’s foreclosure registry program, and Ascent Real Estate Solutions was in attendance.
The changes discussed began with the registry requirements for vacant or occupied properties for all REO and notice-of-default properties, wherein a $155 registration fee and current list of all contact information and property details is due within 30 days of notification; with annual renewal due Jan. 1 for subsequent years.
The presentation moved on to the monthly inspection and reporting requirements of the property owner/manager, along with the penalties for code violations or failure to inspect and/or submit changes to property status within the due dates.
Penalties for failure to perform and submit accurate and timely monthly inspection reports, with current photos showing scope of all areas of the property, will result in fines of $250/day.
The workshop wrapped up with slides showing how the online registration system functions, and examples of general code violation problems with unacceptable photos showing the condition of properties for registration and inspection purposes; along with the $365 fee for LADBS inspections for the various property types.
Registration and further details about the program can be found at http://hcidla.lacity.org/ForeclosureInformation
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