Rents going up or down? - Landlord Forum thread

Rents going up or down? by Anonymous on July 8, 2012 @16:23

Here in the L.A. area I'm seeing a fair number of ads for comps listing with reductions and free rent incentives.

Furthermore, over the past couple of months that I've been monitoring, I'm seeing a fair number of the same properties re-listing over many weeks.

However, the media reports are that rents in this area are supposed to be rising by a large degree. This doesn't correlate with what I'm seeing on the ground.

Any other landlords in Southern California out there that are experiencing the same thing or is there something I'm missing?

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Re: Rents going up or down? by Anna Mouse (CO) on July 8, 2012 @17:23	[ Reply ]

Just because a property continues to re-list does not mean the price is too high. In my situation I will, if need be continue to wait for a qualified tenant rather than take the first person in the door. Also some people experienced in marketing their property will list before it is even empty. I had people asking if they might get a discount since it was still listed. Then I told them I had not even shown the property. As far as free rent incentives. I have seen this marketing technique used my apartment complexes. You can figure, likely that they are factoring that free rent in the total. What I did is watch the market over the year and had target areas in or close to my rental area. I noted the updates, baths, sq ft., garage, pets allowed or not and most important location. This chart was very helpful in deciding what to list my property for. It was a collection of data over a year not just a snap shot of what was that moment.

Re: Rents going up or down?

Re: Rents going up or down? by June (MD) on July 8, 2012 @23:56	[ Reply ]

Here's a great accurate website so you can see how your rent prices compare to others in your immediate area: Go to... www.rentometer.com. Type in your address and zip, # of BR and your rent price. They will show you others and what rents they charge in your comparitive area. This is a super site for both LL's and tenants. Can check rental prices anywhere in USA!