I continue to receive a number of calls on a weekly basis from people looking for a Los Angeles rental. I will tell you, it is starting to get extremely frustrating.
A call will come in on a particular Los Angeles rental property, and by the time I make the call to the listing agent, it has already been leased. You just can’t get there fast enough.
I have discussed this with several of my fellow Los Angeles real estate agents and they are all seeing the same pattern. We are doing more business with Los Angeles rental properties than buying and selling right now. And they don’t stay on the shelf.
This is more prevalent in the up to $3,000 price range, and decreases somewhat as you go up. So, if you are moving to Los Angeles, downsizing your Los Angeles home, or simply making a change in your living arrangements, don’t hesitate when something comes on the market. Be ready to see the home before it is gone.
Be sure you are clear with your real estate agent before they start showing you properties.
- Do you have a pet?
- Does the laundry have to be in the unit or are you O.K. with a community laundry?
- Are you allergic to carpet?
- Is a ground floor unit out?
- How many parking spaces must you have?
Be clear. This will save a lot of time and heartache in your search. By the same token, given the lack of available properties right now, you may want to limit your “must haves.”
Any combination of the items below is what you will need to produce in order to make an offer on that Los Angeles rental property, if you want to be seriously considered, and hopefully, get it:
- Run your credit report. You are allowed one free credit report from each bureau once a year. However finding out how to do that can be cumbersome. Creditscore.com is a good credit reporting site to try. You do need to run all three bureaus and it has to be the full report, not just the scores.
- Proof of income: it could be bank or investment statements, tax return or 1099. Every situation is different. Just know that you will probably have to show proof that you are able to cover the rent for the period of tenancy.
Someone is going to get that perfect Los Angeles Rental property, let’s make sure it’s you.
Los Angeles rental properties up to $3,000 on the Westside:
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Lot Size15,752 sqft
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Home Size1,515 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built2013
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Days on Market1
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Lot Size9,091 sqft
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Home Size1,535 sqft
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Beds2 Beds
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Baths3 Baths
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Year Built1996
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Days on Market1
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Lot Size26,428 sqft
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Home Size1,244 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built2018
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Days on Market1
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Lot Size5,999 sqft
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Home Size1,229 sqft
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Beds2 Beds
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Baths3 Baths
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Year Built
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Days on Market1
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Lot Size9,174 sqft
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Home Size4,582 sqft
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Beds5 Beds
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Baths6 Baths
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Year Built2013
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Days on Market1
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Lot Size19,433 sqft
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Home Size1,320 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1961
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Days on Market1
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Lot Size6,639 sqft
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Home Size762 sqft
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Beds2 Beds
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Baths1 Bath
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Year Built1923
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Days on Market1
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Lot Size5,193 sqft
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Home Size2,087 sqft
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Beds3 Beds
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Baths2 Baths
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Year Built1915
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Days on Market1
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Lot Size12,999 sqft
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Home Size1,777 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1990
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Days on Market2
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Lot Size6,670 sqft
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Home Size3,000 sqft
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Beds4 Beds
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Baths4 Baths
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Year Built1930
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Days on Market2
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Lot Size4.08 ac
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Home Size1,078 sqft
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Beds1 Bed
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Baths1 Bath
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Year Built1964
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Days on Market2
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Lot Size31,651 sqft
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Home Size1,679 sqft
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Beds2 Beds
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Baths3 Baths
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Year Built2006
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Days on Market2
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Lot Size13,761 sqft
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Home Size6,646 sqft
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Beds5 Beds
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Baths7 Baths
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Year Built2017
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Days on Market2
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Lot Size2.86 ac
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Home Size1,972 sqft
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Beds3 Beds
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Baths4 Baths
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Year Built2003
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Days on Market2
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Lot Size15,704 sqft
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Home Size1,532 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1975
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Days on Market2
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Lot Size6,670 sqft
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Home Size1,000 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1960
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Days on Market3
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Lot Size30,824 sqft
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Home Size1,595 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1992
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Days on Market3
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Lot Size1.83 ac
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Home Size1,056 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1973
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Days on Market3
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Lot Size15,429 sqft
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Home Size1,495 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1974
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Days on Market4
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Lot Size7,488 sqft
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Home Size1,050 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built
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Days on Market4
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Lot Size25,056 sqft
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Home Size1,460 sqft
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Beds3 Beds
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Baths3 Baths
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Year Built1974
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Days on Market4
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Lot Size20,949 sqft
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Home Size2,299 sqft
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Beds2 Beds
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Baths3 Baths
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Year Built1976
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Days on Market4
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Lot Size7,523 sqft
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Home Size1,493 sqft
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Beds2 Beds
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Baths2 Baths
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Year Built1967
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Days on Market4
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Lot Size7,458 sqft
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Home Size2,632 sqft
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Beds4 Beds
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Baths3 Baths
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Year Built1977
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Days on Market4
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Lot Size5,999 sqft
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Home Size3,100 sqft
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Beds3 Beds
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Baths4 Baths
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Year Built1939
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Days on Market4
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See all Los Angeles Westside Rentals.
(all data current as of
8/8/2022)
Listing information deemed reliable but not guaranteed. Read full disclaimer.
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Jane, We’re experiencing the same thing here with rentals. I think that once the short sale and foreclosure wave is over and the former homeowners have had some time to rebuild their credit, this market will slow down again. For now though, you’ve certainly given those seeking Los Angeles rentals a good bit of information regarding that market.
I think you are absolutely right, Debe.
We’ve finally hit a point where buying is starting to make financial sense again. Major price declines off 2007 highs, coupled with increasing rental rates are making the buy vs. rent decision tilt in favor of buying for many markets. This is especially true in severely depressed markets where prices are 50%, or more, off highs, but it’s also starting to be true for the Westside, and South Bay (my market).
http://socalrea.com/2011/06/rent-or-buy-in-the-south-bay/
In Manhattan Beach, for instance, estimated annual cost of home ownership is now below the cost of renting when comparing median rental rates against median home values.
We still aren’t quite there yet on the Westside. Hopefully soon, and hopefully the lending restrictions will be eased to allow people back in.
Hi Jane, we are experiencing very similar trends in our area as well. The rentals really go fast, and perhaps reducing your list will provide more options for clients.