Granny Flats on the rise in LA...but is it enough to help the housing crisis?
Britta Diaz
Top 1.5% of All Realtors Nationwide- RealTrends DRE: 01900581 Luxury Real Estate Specialist at Berkshire Hathaway HomeServices California Properties
Granny flats are on the rise in Los Angeles, with over 2000 new applications this year alone (Source: TheRealDeal). Granny flats, also known as Accessory Dwelling Units, are secondary buildings or add-on structures on Single Family lots that can be rented out by the homeowner.
Granny flats have long been a way for homeowners to subsidize their mortgages, and have been great contributors to lessening the burden on the rental market. While there is much work yet to be done to open up the market, each new unit helps.
The City has incentives to regulate the granny flats, which have long existed in LA. Faulty wiring and structures not up to code can present dangers to homeowners and tenants alike. By allowing the process to be streamlined and compliant granny flats under the coming Ordinance, the City can create more assurances that these units will be more safe, and homeowners and neighbors can feel comfortable with these buildings.
Per the Memo being used as an interim until the Ordinance is fully revised, Regulations on granny flats generally cap square footage at 1200, with parking allocations, stepbacks and height requirements.
Britta Diaz Real Estate --- Bringing Home to You
Britta Diaz 424-235-0577 [email protected]
www.brittadiaz.com CalBRE: 01900581