5 Quick Tips for Renting a Home in Los Angeles
Los Angeles is the ideal place to live your version of a Southern Californian dream. Not only is it the largest and most populated city in California, it is the second most populous city in the US. It is the center of California cultural and cultural activities and also the home of Hollywood, the center of the world’s entertainment industry. So there are a lot of opportunities available.
But renting in California isn’t a bed of roses, it is very competitive. According to the U.S census bureau, as of 2018, about 64.1% of the population in the city are renters.
Not only is the market competitive but also expensive, the rent growth is 1.4, above the country’s growth of 1.0. The Los Angeles metro offers a wide range of rental price, but currently, median rents in Los Angeles stand at $1,370 for a one-bedroom apartment and $1,750 for a two-bedroom.
Renting in Los Angeles isn’t something you have experience before for first-time renters unless you are moving from New York. Renting an apartment in the “City of Angels” isn’t an easy task, it is expensive and you have to factor in some conditions during the search. The following tips will help in your task and make less stressful and frustrating.
Quick Tip 1: Calculating your budget
The L.A metropolis is big and offers a range of rent prices. Zillow Research Group calculated the average rent in Los Angeles County is $2,712 at $2.35 per square foot.
We can’t overstress the importance of budgeting before apartment hunting. You need to create your budget, this will help you know what you can afford.
To figure what you can afford, start with your monthly allowance and list basic essential and figure out how much you can spare for rent, your rent shouldn’t take more than 30% of your income.
When landlords are screening your rental applications, they will check to see if your income is around 2.5 or 3 times the monthly rental price. This will give them the guarantee for your ability to pay rent.
Ways to save money each month are simple:
- Get a roommate
- Cancel unused monthly memberships. Canceling cable television will save you $100 a month. Canceling meal kit subscriptions will save around $240 a month.
- Shop for a better cell phone plan. Save anywhere from $40 – $100 a month.
- Trim expenses. Bike or walk instead of driving will save $70 a month on gas. Limit watching moves in the theater will save $50 per month. Brew coffee at home instead of Starbucks will save $60 per month.
Read more about ways to save money for a home.
Quick Tip 2: Finding A Neighborhood Based on Parking, Safety, and Traffic
Another important factor that will influence your decision during apartment hunting in Los Angeles is the neighborhood. Because the traffic is horrendous and rush hour is almost throughout the day, it is very important that the apartment you eventually get is not so far from your work or not in the traffic areas.
Factors such as parking, security, and noise level are important things to consider as well.
Quick Tip 3: Apartment Listing
To begin your search, you can check online listings of apartments for rent. We recommend browsing various rental listing sites to see a variety of homes. Some landlords will schedule a private showing with you while most will hold an open house for all prospects to come. If interested, some old-fashioned landlords will require an application fee of $40 sent with a paper application.
At Onerent Property Management, renters can easily browse hundreds of available homes in their area and schedule a private showing online. Renters can even apply for the home online without any applications fees.
View our listing of quality rentals online then schedule a visit at a day and time convenient to you. Browse rental listings today.
One unique aspect of Los Angeles is that it is common for landlords to just put up a “For Rent” sign and not list it online. This means you may need to drive through neighborhoods to see which properties are available.
Quick Tip 4: Avoid Getting Scammed
Before signing the lease, run through these telltale signs to spot a rental scam:
- The rent is below market rate:
If it looks too good to be true, it probably is. Many times, rental scammers in Los Angeles will list a home below market and ask for a money wire transfer before they let you view the property. Although affordable rates is not a guaranteed verdict of a rental scam, it is a sign to investigate further.
- Inability to prove ownership:
A landlord who’ve you never met at the door, spoke with on the phone, or has no reputable online reviews is suspicious. Be cautious when a landlord cannot provide proof of management.
- Inaccessible landlord” “Owners” who claim they cannot meet you at the property because they just left the country or they are traveling is most likely a scam. We recommend calling them directly to verify they exist.
- Viewing fees:
Any landlords or homeowners who request money to view the property is most likely running a scam. No landlord would ask for money upfront before any paperwork is filed and the property is seen.
Quick Tip 5: Get Roommates
One of the simplest ways to save money every month is to get a roommate. A roommate might just be the solution to all your problems. If you think you can’t carry all the burden then you might want to consider getting a roommate.
Rent makes up the majority of our monthly expenses every month. Getting a roommate will effectively cut these expenses in half. This is especially convenient if you travel often or rarely spend time in your apartment.
If your rent is $1,500 a month, you can be saving $750 every month by getting a roommate. That is $9,000 a year you can add to your savings account.
Not interested in calling landlords, scheduling showings manually, and paying for application fees? Try Onerent for a new way to rent homes!