How to Find the Most Affordable Rentals in the San Francisco Bay Area
You don’t have to know everything about the Californian real estate market to realize that discovering an affordable rental in the San Francisco Bay Area is like finding a needle in a giant, ever-growing haystack. As the local job markets keep attracting thousands of newcomers, prices will most stay high, discouraging budget-conscious families looking for a new roof over their heads. In 2014, buying a home in the Bay Area was 6% more expensive than renting one.
Target the Best Tenant-Friendly Cities in the Bay Area
Since prestigious companies continue to recruit new talents and market their tempting job openings, each year more individuals start digging deeper for affordable housing in this area. In 2013, San Jose welcomed 17,000 new individuals, while San Francisco gathered more than 10,000 new residents. In this context, you are probably wondering: Would it be a smart move to relocate to San Francisco or find a relatively inexpensive rental in the Bay Area? It all depends on your short and long-term goals. Nonetheless, if you are concerned about the short supply of accommodation options, correlated with the high demand and the hefty price tags, you should know that getting the keys to a nice, affordable for rent property is (still) an achievable goal.
For starters, you should check out the listings available in tenant-friendly cities located in the Bay Area. Palo Alto, Cupertino, San Jose, Los Gatos, Burlingame and Sunnyvale are only a few options that you should consider if you are determined to move to a nice city where housing won’t burn holes in your pockets. In January, renting an apartment was 27 times cheaper than buying one in Burlingame; at the same time, Cupertino had a high rental vacancy rate (4.9%), while San Jose residents spent only 28% of their monthly income estimated at $122,476 on rent. If you want to discover and rate the most appealing tenant-friendly cities and neighborhoods in California, use the insight offered by Apartment Hunterz to make your own list of favorites.
5 Tips on How to Lower Your Rent in Any Californian City
On second thought, maybe you want to skip this step because you have already chosen a city where you would like to put down roots, raise your kids and build a new career. Perhaps you love the new environment, but can’t help but notice that some of the most amazing rentals that you would like to occupy are way out of your league. In this case, you may want to apply the five following tips to reduce your rental rates, while establishing a stronger connection with your landlord.
- Ask Your Landlord for a for a Rent Reduction. Many people miss out on various opportunities on a regular basis simply because they’re too shy to ask for the things that they would like to get from their friends, relatives, business partners or employers. If you want to spend less money on rent each month, ask your landlord for a reduction. This simple strategy may return the desirable results, especially on a niche with an oversupply, where potential tenants are in the position to negotiate, make deals and influence the market.
- Come up with an Ingenious a Game Plan. Unfortunately, if you’re tackling some of the most desirable cities and neighborhoods in the Bay Area, plan A may turn out to be ineffective. In this situation, switch to plan B and start to research your options. Get familiar with market prices and do a bit of digging into your landlord’s background. Find out how he is currently marketing his units and what he is offering to tenants who are contemplating the idea of renewing their leases. If your landlord is experiencing financial hardship associated with vacancies or any other factors, he may be more inclined to cut you a deal.
- Learn to Sell Yourself. Finding a reliable tenant is no easy task, even in some of the most sought-after areas where prospects would be willing to shed thousands of dollars on for rent properties. This is why landlords sometimes offer incentives to good old tenants who are getting ready to negotiate their new lease. Highlight the aspects that make you a great candidate, including your financial situation, attitude and reliability to prep the field for a mutually advantageous partnership.
- Put Your Bartering Skills to the Test. As a last resort, you may rely on a certain form of trade to strike a deal with your landlord. Maybe the owner of the property that you are currently occupying is in desperate need of your services. Who knows? Maybe he is interested in professional landscaping services that would enhance the curb appeal of his rental and your expertise qualifies you as the best candidate for this job; or maybe your landlord would appreciate a helping hand from a dependable onsite property manager. Offer your services to lower your rent and establish a deeper connection with your landlord.
- Use a Great Apartment Finding Service. OK, so maybe the first round of negotiations with your landlord failed to deliver the results that you were expecting. What now? Instead of overspending on a rental that you are not 100% satisfied with, keep your options open and monitor the local real estate market to identify the hottest offers before anyone else. You don’t need to spend hours on different websites to follow this plan; instead, you could use the concierge service created by Apartment Hunterz. California’s preferred apartment finding service discovers and filters the most attractive listings that are compatible with your selection criteria; as soon as it finds the best matches for you, it will notify you through an email or text message. Rapid, reliable and affordable, this handy platform has revolutionized the way in which people conduct an apartment hunt. Start using it today and discover the benefits of a cost-effective, simplified targeted search.