21 September 2011
FIND YOUR NEW HOME IN LOS ANGELES
Review insider tips on how to find your new home in Los Angeles courtesy of Power Brokers International realtor Jane Peters.
Jane Peters is a full service real estate agent specializing in absentee owners, out-of-town buyers, renters, and those needing extra assistance with one of the most important transactions of their lives.
Here are Jane’s top 5 tips for finding a Los Angeles rental property:
1. Narrow your search down to a few areas
Los Angeles is a huge city, with a large school district. So the first thing you need to do is identify a few areas in which to concentrate your search.
Here are some ideas on how to narrow it down:
- Try and stay close to where you will be working. Freeway commutes in Los Angeles are no fun.
- If you have children, check out the schools. Los Angeles Unified School District (LAUSD) is the second largest school district in the U.S. and many of the schools are low-performing ones. Researching the best schools in the area will help you decide where you may want to live. There are many online sources to determine the best schools.
- Lifestyle. Los Angeles is not a walking city, and if you like to step out of your home onto the beach, or into the heart of a trendy shopping district, this will narrow down areas significantly. Each area has its own special character and charm. The trick is finding the one that best suits your needs.
2. Set your budget
Your budget is going to decide where and what you can afford to rent. Your choices include a condominium, which is a privately owned apartment, a unit in an apartment building, or a single family home.
Downtown Los Angeles is now seeing the growth of loft living. Depending on the area, you can reasonably expect to pay from $2000 for a low-end property in to the thousands.
3. Set your criteria
- Do you want one bedroom, two bedrooms or more?
- Are 2 bathrooms necessary, or can you make do with 1 or 1.5?
- Is an inside washer/dryer important, or can you live with a community laundry room?
- Do you want hardwood, or is carpet O.K.?
- How many parking spaces do you need?
- Do you need a yard?
Determining these requirements will help to narrow the search down.
4. Make sure you have your financials in order
When renting a Los Angeles property you are going to be asked to provide proof of funds. Normally, a credit report will be required, bank statements, etc.
If you don’t have all of the normal paperwork ready to produce you may need a local co-signer for the lease, someone who will guarantee your rent. Bank statements showing your balances may suffice, but this will have to be worked out with the prospective landlord. Anything that shows your financial stability will help.
5. Find a local real estate agent
If you are new to Los Angeles, then you will certainly want to hook up with a real estate agent to help you find a property based on all the above criteria. They will be able to drive you around a few areas to give you a feel of the place and also guide you to certain areas based on some of those criteria.
There are many online sources to find property rentals in Los Angeles, but you do have to be careful of the scams that are prevalent on the internet. Real estate agents have access to the better properties and can make your life so much easier. And all for free. The landlord pays the fee.
Los Angeles can be an overwhelming city for someone relocating here, and having a real estate agent who can educate you on the different areas and help you determine where you want to settle is invaluable.
Why not sit back, relax, and let your real estate agent do the work?
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- Tags: Los Angeles