The rental market is heating up in LA. More consumers are opting to rent than buy in southern California thanks to the housing market, which means there is likely going to be an increase in rental rates very soon. To avoid paying these rates, most renters will stay put, which means the availability of new units is also going to be trying. But, there are ways to still find a good rental and a good price despite the market.
Use Rental Websites to Their Fullest
These sites tell you everything you need to know about a place. From the rental rate to the square footage to pictures of the units themselves. Use this as a starting point to research potential rentals. This will save you time looking at stuff in person that you cannot afford.
Los Angeles has a lot of hidden rentals. Sometimes all it takes is asking a friend or even co-worker and you can find a new place. Social media is also great for finding new rentals. A lot of landlords post their ads in Facebook groups rather than through traditional outlets.
There is a huge fluctuation in rental rates in LA. You can find one apartment for $800 per month and then the building next door with a similar unit for $1200. So, always be ready to do some comparison shopping. Take a look at apartments and see what you can find within that price range, but don’t forget to compare it to next door.
Get Away from Downtown
If you want to save some money on your rental rates, stay away from the downtown area. Downtown LA is up to 25 percent more than the outer boroughs. Also, by staying away from downtown, you might even be able to avoid some of that classic Los Angeles traffic on the way to work or even the grocery store.
Remind Landlords About Credit
Landlords are always looking for tenants with good credit. Some may even be willing to offer a better rate if you have perfect credit. While this isn’t a guarantee, it is always worth a shot. Ask the landlord if they have any specials or lower rates for people with impeccable credit scores.
Remember that Los Angeles is a metropolis. You will pay more in rent here than other areas in Southern California. But, if you take the time to research and get to know the area, you might just walk away with something you can afford.