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Looking for a Los Angeles Rental Property? Be Prepared!

Posted by janepeters on December 14, 2011
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If you are looking for a Los Angeles rental property, you are in a lot of competition.  The better prepared you are to make an offer on the property you love, the better the chance you are of getting it, because the good ones go quickly.Los Angeles Rental Properties, Renting a Home in Los Angeles

So, what do you need to know?

As soon as your realtor sends you a property close to your needs and desires, be prepared to go see it.

Believe me, you are not the only person looking for Los Angeles rental properties right now and generally it is a first-come first-served situation.

Most leases are for a minimum one year term.

There are some exceptions, but most leases will require you sign a contract for a minimum of one year.

Be prepared to pay three months’ rent up front.

There are exceptions to this rule also, but most leases are going to require that you pay two months’ deposit  on signing and the first month’s rent up front.

Run your credit report.

When you find that property you are going to have to fill out a Rental Application form and submit it with your credit report.  The credit report must be a full report from all three bureaus.  A good service to use is CreditScore.com.  You will probably also need to provide proof of funds which will show that you are able to cover a full year’s rent.

If you do not have good credit and low funds, then you should seek out a co-signer for the lease.  It can be a family member, friend or your employer may sign for you, especially if you are being relocated.

Once the terms have been accepted a lease will be drawn up by the landlord’s agent.

You will review this lease with your Realtor® and if you agree to the terms of the lease you will sign and enter into a lease contract.  Upon signature you will be required to pay the deposit and first months’ rent, usually by cashier’s check or wired funds.

Walk through.

You will generally get a chance to walk through the property with your agent and the landlord’s agent to go over items that may need repair, and you will also have a previously agreed-upon number of days to inform the landlord of any deficient items, although generally the landlord is responsible for fixing items in disrepair.

If you are ready, willing, and able to follow the process above, then you will be successful at beating out the competition for those hard-to-find L

Sample West Los Angeles Properties for Rent

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