Moving to Los Angeles? How is the Rental Market Right Now?

By
Real Estate Agent with Power Brokers Int'l BRE# 01439865

You are planning on moving to Los Angeles, and are wondering about the rental market.

Well, it is hotter than ever.  Prices are rising and properties in good areas are going quickly.

Yesterday I went to the first open of a single family rental in Westwoodand the place was packed.Los Angeles Rentals

You probably are not ready to buy before you check out some of the Los Angeles communities, because you are not sure where you will want to end up living.  Renting for a year is a good way to find out.  And the easiest way for you to narrow down your search is to use a Los Angeles Realtor®  to help you find that perfect place.  Looking for properties when you don’t know the areas and trying to set up appointments with different agents will drive you nuts.  And using the service of a Realtor® is free to you.  You cannot imagine how much easier it is.

In this rental market it will help if you can be somewhat flexible.  Everyone wants the hardwood floors, inside laundry, gated parking, view, etc. but unless you are prepared to pay a premium, finding them all in one place is going to be difficult.  And if you have pets, you may have to be more flexible.  I can’t tell you how hard it is to find places that will take a small dog, let alone two Great Danes…..

All you need to do is provide your criteria.  Here is a list that helps me:

  • Where your commute will be?
  • Number of rooms (do you need 2 full bathrooms or is 1.5 enough)?
  • Maximum price
  • Number of people living there
  • Do you need furnished or unfurnished?
  • Do you have good credit.  If not can you show proof of funds, or can you get a guarantor?
  • When  do you need to take possession.? If not immediately, are you prepared to pay for the property to be held?

And if you are ready to make an offer on a property, this is what will be needed:

  • Many of the properties handled by an agent require 2 months security to be paid plus the first month’s rent.  There is generally no negotiation on this.  Make sure you are comfortable paying this up front.
  • You will need to run your own credit and provide it to your agent together with the application form they will send you to fill out.  If your credit is not good, and sometimes even if it is, you may be required to provide proof of funds or a letter from your employer.

Most of all, be prepared to move quickly on the property you want.  Because chances are others will also want it.

Search Los Angeles Homes for Rent by Area

 

 

Buying or Selling Los Angeles Real Estate

Buying or selling a Los Angeles home can be a daunting process in a city this size, especially if you’re new to L.A. Town. You’ll need a resident expert to show you around and help you narrow down the areas where you might like to live. I will help you find the perfect home in the right area to fit your lifestyle, budget and needs!

When I list and sell Los Angeles homes for my clients I strive to make the experience a pleasant one. My mission is to provide outstanding service while utilizing the best practices and systems available.

If you are an absentee owner, you’ll need someone to handle all the details that you can’t handle remotely. That’s where I come in – I’m there when you can’t be. I also specialize in lease property in Los Angeles.

Westside Los Angeles Real Estate, including, but not limited to:

For more information on how I can best serve your Los Angeles real estate needs, don’t hesitate to fill out the contact form or give me a call at 310-473-6919.


Read more: http://www.homejane.com/moving-to-los-angeles-how-is-the-rental-market.html#ixzz1u2CoI1M9

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Los Angeles County Los Angeles
Groups:
Market Reports
Tags:
renting a home in los angeles
moving to los angeles
los angeles rentals

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
815,894
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Jane - Open houses for rentals?  We don't do that in my market area, but the rental market is booming here as well.

May 05, 2012 05:23 PM #6
Rainmaker
383,897
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Jane, you have done a nice job educating new residents on the ins and outs of renting in the LA market.  Well done!

May 05, 2012 05:58 PM #7
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Gail,  some do have open houses here.  Especially for the higher priced ones.

Bruce, thank you very much.

May 05, 2012 06:53 PM #8
Ambassador
1,324,022
William Johnson
RE/MAX Associates - San Diego, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

Hi Jane, 

Ahh! the return of the good old days. Well that might be a bit of stretch but it is beginning to look at lot like Christmas, LOL. Woo Hoo! Just think of all these renters in a year or two that will want to buy their own money pit home . :-)

Certainly an informative post Jane and it will help the smartest of the new folks ( using you as their broker) to get the best of the lot.

 

May 05, 2012 07:20 PM #9
Ambassador
1,324,022
William Johnson
RE/MAX Associates - San Diego, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE

Hi Jane, I forgot to mention that I suggested this. It is really a wonderful and informative post. 

May 05, 2012 07:21 PM #10
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

William,  thank you.  That is very nice of you.

May 05, 2012 07:29 PM #11
Rainmaker
1,742,628
Dorie Dillard
Coldwell Banker United Realtors - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Hi Jane,

Wow being flexible in your market seems to be the key for sucess..great post! They need to be using you as their agent to secure a good deal!

May 05, 2012 07:37 PM #12
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Dorie,  flexibility is key.

May 05, 2012 07:39 PM #13
Ambassador
640,661
Doug Rogers
Bayou Properties Realty - Pineville, LA
Your Pineville Louisiana Agent

I couldn't imagine searching for a rental in such a large market without representation.

May 05, 2012 08:53 PM #14
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Doug,  it certainly helps.

May 05, 2012 09:24 PM #15
Ambassador
1,873,061
Jeff Dowler CRS
Solutions Real Estate - Carlsbad, CA
Carlsbad CA Homes for Sale (760) 840-1360

Jane

Rentals are moving pretty quickly here and it appears that rates are risigin a little bit, but I can't say I have seen any open houses for them.

Jeff

May 05, 2012 09:46 PM #16
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Jeff,  open houses for rentals are unusual, but I have seen them done here.

May 05, 2012 10:24 PM #17
Rainmaker
592,073
Susan Haughton
Long & Foster REALTORS (703) 470-4545 - Alexandria, VA
Your Client-centric Alexandria VA REALTOR

Excellent advice for would-be renters.  I used to work with a lot of rental clients, but lately, there has been virtually nothing to show most of them.  I urge them to look for "rentals by owner" because the market is so tight, you need a lot of luck to even get to a property before it is gone.  Sounds as if your market is much the same! 

May 06, 2012 05:18 AM #18
Rainmaker
333,767
Surprise Arizona Realtor Jim Braun Sun City Grand Active Adult Communities
Coldwell Banker Residential Brokerage Jim Braun Sun City Grand Az - Surprise, AZ
Surprise AZ real estate Phoenix West Valley

Jane: Very sound advice! You did a great job with this post.

May 06, 2012 08:58 AM #19
Rainmaker
478,289
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Jane,

We don't have rental open houses here in South Florida but like LA, the rental market is very busy, a property rents very quickly once it come on the market. Anyone looking for a home is LA, whether buying or renting, should call you cause you are an expert!

May 06, 2012 09:49 AM #20
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Susan,  funny, but one landlord I saw yesterday hadn't got the message.  His rent was low and he said it was a tough market.  It certainly isn't.

Jim,  thank you very much.

Patty,  thank you.  We have few open houses for rentals, but I really admire the agents who do them.

May 06, 2012 11:17 AM #21
Rainmaker
730,380
Juli Vosmik
Dominion Real Estate Partners, LLC, Scottsdale, AZ - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Jane, having a knowledgable agent like Jane Peters when searching for a Los Angeles rental or home purchase is also key.  You know your market and you're able to provide additional information on different areas.  Particularly valuable for people moving to the Los Angeles area.  Great job, as always. 

May 06, 2012 11:55 AM #22
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Juli,  and thank you, as always :

May 06, 2012 02:44 PM #23
Rainmaker
954,549
Bob & Leilani Souza
Souza Realty - Roseville, Rocklin, Lincoln, Loomis, Granite Bay, Penryn, Newcastle, Auburn, Meadow Vista (California) - Roseville, CA
Placer County, CA: Foreclosures, Auctions, Rentals

Jane, these are all excellent questions to ask potential renters to help you best serve their needs. I haven't helped renters find properties since we left the SF Bay Area because here in the Sacramento area, our MLS does not allow rental listings. People use Craigslist around here to find rentals. :)

Leilani

May 06, 2012 11:48 PM #24
Rainmaker
914,195
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

Leilani,  rentals are quite big here. Often homes are put on the MLS in both sale and rental categories.

May 07, 2012 10:28 AM #25
Post a Comment
Spam prevention
Show All Comments
Rainmaker
914,195

Jane Peters

Connecting you to the L.A. real estate scene
Need help with your Los Angeles real estate needs?
*
*
*
Spam prevention

Additional Information