Making Los Angeles Your Home

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.

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

(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

(Courtesy of Zumper.com)

P.S. Here are some of the current hottest rental markets in LA

1. Santa Monica
2. Venice
3. Culver City
4. Mid-City West
5. 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

3.Glink, I. R. (n.d.). Tips for House Hunters: Keep a Log and Take Pictures. Retrieved February 5, 2016, from Los Angeles Times website:                                                             www.latimes.com/business/realestate/la-realestate

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/