Market Conditions in 90041>Question Details

Mona Castro, Home Buyer in Eagle Rock, Los Ange...

why are some of your for rent houses very cheap? what's the catch?

Asked by Mona Castro, Eagle Rock, Los Angeles, CA Tue Apr 13, 2010

Help the community by answering this question:


There are quite a few new condo and townhome projects that have decided that rather than sell, the developers have opted to lease them. Their hope is that the market values will increase and then they can sell them and make more money.

These new apartments have caused problems for owners of older rentals. Tenants who had been paying rent to them can no pay the same rent and get a brand new unit, with stainless steel appliances, including refrigerator, washer, dryer, for the same price. That means that owners of older apartments need to lower their rent rates in order to attract tenants.

Hope this makes sense.
0 votes Thank Flag Link Tue Apr 13, 2010
Keith Sorem, Real Estate Pro in Glendale, CA
Mona there is no section on here that is specifically for rentals. If you are looking on trulia you will need to contact the listing agent to get more details, look to see if the logo says Realty Trac as they are not rentals and not even for sale. They are preforeclosures where RT takes information published in local papers or from the registry of deeds and publishes here on trulia hoping you will sign up for their services. If you are other sites like CL be carefull of the huge amount of scams of people trying to rent vacant houses at half price that are not even theirs to rent.
Web Reference:
0 votes Thank Flag Link Tue Apr 13, 2010
Hi Mona,

Which particular property or properties are you referring to? I would be happy to check it out & see if the information is correct or if there is some kind of catch. Let me know & I can check it out for you.

Thanks, have a nice evening.,,

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
0 votes Thank Flag Link Tue Apr 13, 2010
Hi Mona, can you be more specific?

Diane McDonald
Keller Williams Realty, Los Feliz
20 Years of Sales and Service
DRE Lic#01019403
0 votes Thank Flag Link Tue Apr 13, 2010
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