A certificate of occupancy is the governmental document confirming a building is legally approved for its intended use. The CoO date determines rent control regime applicability for LA multifamily.
CoOs are issued by LA Department of Building and Safety (or equivalent in other jurisdictions) upon completion of construction or substantial renovation. For existing buildings, the original CoO date is a permanent record. Material alterations can trigger new CoO requirements.
CoO date is the single most important regulatory data point for LA multifamily. Pre-October 1978 CoO = LA City RSO applies. Post-February 1995 CoO = Costa-Hawkins exempt. In between = AB 1482. Always verify before any pricing analysis.
From the Sterman LA Multifamily Glossary — defined the way a broker with $1.41 billion across 254 closed transactions actually uses these terms.
Michael Sterman, Senior Managing Director Investments, Marcus & Millichap.
Thinking about selling? Get a no-obligation evaluation from a broker with $1.41 billion across 254 closed LA multifamily transactions.
Request Free Evaluation →