Real Estate Rental in Los Angeles
Los Angeles, California is the second biggest city in US and it has been a target for people following their dreams; from the Hollywood Hills to the sandy beaches. The real estate market in Los Angeles has always been a good one but ever since 2008, it was more of a renters market. This happened when many citizens left the city and relocated in other, less expensive areas, leaving landlords with empty apartments. Although this led to a decrease in renting prices, it is still pretty expensive to live in the City of Angels. Things reached a somewhat stable zone in 2010 after the prices dropped for 7%. Although it may not seem like much, at $1,663, it is still something.
If you are now looking to rent an apartment in Los Angeles, you have to expect high prices even though prices dropped 0.6% from 2010 for one room apartments. The rent for this will set you back $1,538 when a two room apartment will cost you $1,954. You can also find deals with the landlords which are now more than desperate to find someone for their apartments. Some even offer free utilities and it is always good to see what options are available that might help you save money. At the end of the day it is better for you and for the landlords because they would rather cut the price than stay with an empty unit.
Despite the fact that the real estate rental market in Los Angeles has seen better days and it is a bit unstable, it still advantages tenants and not landlords; a situation which can be used towards their advantage and get a better deal.
A great number of citizens were forced to leave the city when the recession started because they could no longer afford the high living expenses. Most relocated to places outside the city where the rents are lower in order to save money. Now, that things are starting to improve, we can expect to see more people come back and we could be looking at bigger prices in next year.
Many people will always want to live in Los Angeles even if this might be very expensive. It is a superb city, with a warm climate and pretty much everything you will ever need. Not only is it one of the biggest tourist destination but it is also a much desired place to live in.
