Rent rates are on the rise in Los Angeles County per a report released Wednesday by USC’s Lusk Center for Real Estate. This came as no surprise to me as I leased a house in Rancho Palos Verdes last month and had several applicants anxious to lease the ocean view property.
I notified several clients and customers in search of leases in Palos Verdes the prices are trending upward as demand increases and supply is limited. My best advice is if you are planning to lease a home on the Palos Verdes Peninsula this summer, begin your search now. Summer usually brings a heightened interest in leasing a property before the new school year starts. In my opinion if current trends continue the prices will be a little higher by summer and the supply of available homes limited.
For more details about the Los Angeles lease market report go here. In summary, the reports predicts an 8% increase during 2012 with the average price per sq. ft. hovering around $2 per sq. ft.
Norma – (310) 493-8333