A Renters Guide to Finding an Affordable Rental in Los Angeles

The city of Los Angeles is known for its sunny climate, booming entertainment industry, and exciting nightlife. Enjoy celebrity sightings and trendy micropubs right down the street in hipster neighborhoods and live out your dreams.

A typical LA home now costs about $600,000,- 700,000 making purchasing a home out of reach for more and more residents. If you lie in the category, then don’t feel alone. The Los Angeles metro area rents to more than half of its residents, making it the fourth most renter-rich metro area in the country. It is a difficult task to find the ideal rooms for rent in Los Angeles. The following guide outlines everything you need to know about finding an apartment, from finding an apartment to paying rent.

  • Determine your budget

When you plan to live in an expensive city like Los Angeles, you need to fix your budget for rent. This is the crucial point where you need to decide whether you need a roommate or not. If the rent for the required property is too high, you should consider a roommate.

One-bedroom apartments in Los Angeles cost around $1,300- 1,500 on average, whereas two-bedrooms are priced at $1,700- 1,900. Additionally to your monthly rent, you’ll probably be required to deposit a security deposit, first (and maybe last) month’s rent, and an application fee, which is usually between $25 and $50. It is not uncommon for some landlords to require you to have three times your rent in income.

  • Focus on a specific neighborhood

Living in the City of Angels is full of diverse lifestyle choices. The city of Los Angeles has it all, whether you want to live on the beach or in a trendy neighborhood. Here are some options available for you out there: 

  • Venice Beach

Venice Beach is popular among young couples and singles in their twenties and thirties with sufficient income to live on the beach. The area is known for its organic and healthy restaurants. There are also a lot of dog-friendly establishments in this Los Angeles neighborhood. Here you would find the most active communities with houses for rent in Los Angeles.

  • Beverly Hills

A small-town atmosphere distinguishes Beverly Hills from Los Angeles. Unfortunately, the region also has some of the most expensive rents in the metro area and Rodeo Drive.

  • Silver Lake

Stylish Silver Lake is packed with organic cafes, boutiques, dive bars, and coffee shops. Hollywood and Downtown Los Angeles are just 10-15 minutes away from this central location.

  • Wilshire

Seoultown, otherwise known as K-town, is where you can find some of the best Korean BBQ in Los Angeles. A mix of historic and contemporary buildings house karaoke, speakeasies, and music venues in this trendy neighborhood—the apartments along Wilshire Boulevard range in price from low to high.

Consider a neighborhood close to your workplace. From one side of the city to the other can take two hours by car or bus during rush hour. Los Angeles residents know the importance of a short commute.

  • Set clear expectations

There may not be as much competition as in New York, but at certain price points, you might find some stiff competition. It’s because the vacancy rate is quite high across Los Angeles right now. The latest census data indicates that the vacancy rate is about 4 percent. There are often bidding wars when apartments are in short supply. There are times when renters choose to pay more than the listed price.

When it comes to finding an affordable apartment in Los Angeles, you may have to compromise on location, space, or amenities. For example, if living in Silver Lake is your dream neighborhood, then a studio apartment might be ideal. However, you can move farther out into the greater Los Angeles metropolitan area for more space and cheaper rent.

Write down what you can live without, what you want, and what would be a deal-breaker for your ideal apartment. Be sure to consider items like bedroom furniture, a dining room or kitchen set-up, and a workspace. In addition, you can save time and money by using useful artwork, such as decorative shelves.

  • Try to find an apartment

A realtor may not be necessary. Most likely, you won’t require one. In most cases, renters find their own rental spaces here. You can search for rental spaces on foot by traversing neighborhoods. As locals tend to rent from landlords, you might find a pad that’s not online. Your internet search is your second best option.

  • Take a tour of the place

You can set up a time to view a property by contacting the listing agent via phone or email after you’ve found the one you like. Your main point of contact will probably be the property owner, the manager on-site, or a management company. A good online listing will ensure that you are not deceived or scammed. In the event, you don’t see a fridge or stove, do not panic. It might be necessary for you to purchase them, as not all landlords in LA provide them.

  • Pets will impede your search

They are not allowed by many landlords, and if they do, size or breed restrictions often apply. In addition, pet deposits are often required.

  • Submit an application immediately

Once you find a place you like, you should apply right away. In a tight market, most apartments are won by applicants who apply first. Your credit score is also important. Keep bank statements and phone numbers of former landlords and employers handy.

  • Keep your hopes high

Since the turnaround time for rooms for rent in Los Angeles is so fast, it is very easy to get frustrated or give up. Nevertheless, you need to persevere. Be patient and keep searching and trying. The apartment you are looking for is out there for you.

The task of finding houses for rent in Los Angeles is not a smooth ride, but it is not that difficult as well. If you are not comfortable with the idea of walking the neighborhood to find a pad for yourself, then there are different rental platforms that can help you with your quest.

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