Beverly Hills is an interesting community when it comes to luxury rental properties. Due to the high price points, many owners are way above their $500,000 or $250,000 capital gains exclusion if they sell. So, there are an abundance of properties that are turned into rentals for a few years so they can take advantage of the 1031 exchange rules to defer capital gains. That being said, since there are many rental properties in BH and surrounding high cost areas, in order to find a tenant, you must be the value proposition in the market. Be the best price for the best property and with the best terms. Advertising and networking help significantly.
I work in Beverly Hills as a mortgage broker. If you want to be introduced to some outstanding leasing agents, feel free to give me a call.
Mario Pinedo, CCIM
9595 Wilshire Blvd #801
Beverly Hills, CA 90212
BRE Broker 1118365