Everything
You Need to Know about Finding a Place Live in LA
Famed chef, TV
personality, and world traveler Anthony Bourdain describes Los Angeles as “468
square miles of something, with 114 different neighborhoods.” Given Los
Angeles’s size and diverse culture, the city is an interesting place to live.
Whether you “enjoy the safety, comfort and ‘greeness’ of living [within] the incorporated
Whole Foods” that is Santa Monica or want to live in a “studio apartment [that]
is New-York-sized” in Koreatown, there is something for everyone (Curbed LA). Allow me to be your tour
guide and give you an honest glimpse into many of the Los Angeles
neighborhoods. Here you’ll find the real deal information that your pricey real
estate agent will probably neglect to admit.
This process
doesn’t have to be time-consuming, and stressful if it’s done correctly. Your
initial steps should be to assess your financial standing, and from there
determine what you can afford. Afterwards, you may begin narrowing down which
neighborhoods you like and start your search. From there, you’ll attend open
houses and hopefully find your dream home and negotiate a deal for the perfect
price. Not to worry, I’ll be here to walk you through every step of the way.
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| Home of Mohammed Hadid-LA's premiere luxury home developer (Courtesy of Zillow.com) |
MONEY, MONEY, MONEY
First, you must
review your finances and decide whether or not you’d like to buy or rent a
place. Buying a piece of real estate is a long-term commitment and serious
financial responsibility. The buying process takes a long period of time and
effort in order to ensure that all goes smoothly. Renting (or leasing) a
property is a simpler process that can be a better option if you’re still
saving up to buy a home. As the buying process tends to be very complicated and
long-winded, I’ll focus on finding a place to rent in Los Angeles.
Price is KING & always plays a large role in
deciding on whether or not to rent a place. As a good rule of thumb, your
monthly income should be at least 2.5 times larger than your rent. In addition,
if your credit score is high, you’ll appear attractive to landlords. If price
is king, then location is QUEEN!
Depending on who you are, whom you’ll be living with, and your salary, there
may be certain areas that are better suited for your needs.
Once you’ve
decided on a budget and which neighborhoods you’d like to rent in, you’re ready
to start looking. I must warn you that finding the perfect place is not always
an easy task. The earlier you start
looking for a home the better off you’ll be!
THE SEARCH
The most
efficient way to search for a place to rent is online. Here are the top free
websites I recommend:
- Realtor.com
- Zillow.com
- Trulia.com
- Apartments.com
The last site I
recommend is Westsiderentals.com, they charge a subscription fee but have many
exclusive listings. These websites are a great starting point to help you look for
your next home. They all operate in a very similar manner and have
user-friendly interfaces. These search engines do the heavy lifting-all you
have to do is input your preferences.
Another HELPFUL
TIP: I recommend you use multiple websites when you’re searching for a place to
live! Not only will this give you more options/results BUT it may also save you
some money.
I’ll tell you a
personal anecdote to show you just how important this is…I was helping a family
member look for an apartment to rent this past winter. After figuring out what
areas she liked and could afford, I created alerts on each of these websites so
that I’d be notified if any new listings matched my search. I ended up finding
her dream apartment listed on two different sites-at different prices!!! After we took a tour of the apartment, I made a
follow up appointment to draw up the documents and sign the lease. Being a true
negotiator, I came armed with a dated print-out of the cheaper listing in
hand!! I even refreshed the webpage in front of the agent just to prove my
point. Thankfully, we charmed him and he succumbed to our demands! Moral of the
story-always, always, always, check multiple listing sites!
Once the
websites have provided you with their search results pick your favorites and
contact the listing agents immediately! The real estate industry moves very
quickly in Los Angeles-an apartment could be listed one day and gone the next.
If possible, set up appointments back to back on a weekend leaving a bit of
extra space in between each to budget for travel time. In addition, you should
keep records of all of the listings you’ve seen. BEWARE: online photos can be
very deceiving-never commit to something without seeing it in person first
(Glink).
VISITING YOUR TOP PICKS
When you’re at showing
appointments, be sure to ask the listing agent every question you have (Zillow).
Is parking included (and how many spots if so)? When is rent due? What form of
payment do they accept (check, money order, cash, direct deposit)? Which
utilities am I responsible for paying? Who is responsible for repairs?
SIGNING THE LEASE
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| (Courtesy of Mr. McNamara of Shootingla.com) |
Once you receive
the lease packet, be sure to read through each and every document carefully!
Sometimes, landlords will try to sneak in hidden fees or odd clauses. My suggestion is to give a copy to someone who is real
estate savvy that you trust to look over it just in case. It never hurts to get
a second opinion or set of eyes to make sure everything is sound.
Finally, once
your lease has been signed, get ready to start packing and move into your new
place!
Cheers,
Mary
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| (Courtesy of Zumper.com) |
P.S. Here are
some of the current hottest rental markets in LA
- Santa Monica
- Venice
- Culver City
- Mid-City West
- Downtown Los Angeles
References
1. Bourdain, A. (n.d.). Anthony Bourdain's LA Travel
Tips. Retrieved February 5, 2016, from
Travel Channel website: www.travelchannel.com/shows/anthony-bourdain/articles/anthony-bourdains-la-travel-tips
2. Curbed Staff. (2014, November 18). The Totally
Stereotyped but very Accurate Guide to what your LA Neighborhood Says about You.
Retrieved February 5, 2016, from Curbed: Los Angeles website: www.la.curbed.com/archives/2014/11/the_totally_stereotyped_but_very_accurate_guide_to_what_your_la_neighborhood_says_about_you
4. Zillow
Staff. (n.d.). Things to Ask Before Signing a Lease - Checklist! Retrieved February 5, 2016, from
Zillow website: http://www.zillow.com/rent/checklist/