Rents are Up, Up, Up in LaLa Land

Rents are Up, Up, Up in LaLa Land


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The news is out. Rents in the Los Angeles area are on the rise. According to rental listings site Zumper, rents for one-bedroom places citywide rose 11.6% in 2015. This is twice the national average. What’s driving this? Well, there’s a housing crisis in the LA basin for one thing. Not enough properties are available for the ever-growing population. Other factors include lack of rent control, lack of affordability for home owners, and increased regulation on rental units including the new requirement that all LA apartments be retrofitted for Earthquake safety (a cost that can be partially passed along to a tenet).

For more information on this, check out Zumper’s article at: https://www.zumper.com/blog/2015/12/la-rent-prices-increased-11-6-in-2015/

So if you are currently renting and looking to buy a home, 2016 might be your year to make the plunge into homeownership. On the other end of the coin, 2016 might be the year for you and your family to sell your existing home and move out of Los Angeles all together.

Whether you are a prospective seller or byer, let Rescue Angel Homes help you in your journey. Contact us at www.rescueangelhomes.com or 626-788-2299. We’ll be glad to assist you in your housing needs.

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