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Greg Masi's Blog

By Gregory Masi - 310.622.7488 | Agent in Los Angeles, CA

Los Angeles Rental Market Is HOT!!!

Over the past month, I've negotiated 5 different leases for landlords and tenants.  My active stance in this rental market has brought me to the realization that our rental market is on fire!  Almost as quickly as a rental unit is listed for lease on the web, a prospective tenant is submitting a rental application.  Part of this activity is symptomatic of this time of year, a traditionally active time to lease, but the levels of lease activity are still anomolously high. 

I'm not alone in my instincts that leasing activity is increasing.  A Los Angeles Times article mentions the propensity for builders and investors to participate in the development of rental communities in today's market.  Real estate developers and associated parties are feeling that there is money to be made in real estate apartment communities. 

What does this mean for you and me?  It means that rental prices will continue to go up!  As monthly rents rise, economic uncertainty diminishes, and people get past the fear of the housing market, I anticipate the pendulum will once again swing back into an increased demand in BUYING over renting.  In other words, the injection of life into the lease market could be foreshadowing to a real estate sales market where appreciation returns to its normal levels.

For more articles like this, please visit my personal blog.

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