Neighbor News
The Future of Santa Monica Apartments. Rent Prices Going to Drop?
Rental prices fall on Los Angeles & Santa Monica Apartments
Apartment Rents In Santa Monica
In fact instead of an expected result of rent prices falling, it appears they are not going down.
Tenants are inquiring whether rents will go down, and landlords are concerned about a total shutdown in cash flow. Searches for rentals and inventory of rentals have fallen . Given the shortage of rentals available nationwide, it boggles our minds that rental prices keep rising.
Will Rents Fall Due to the Corona Virus?
Will rents drop for the first time in the wake of the Corona Virus? The Corona Virus is a sudden mega event in the rental markets. Landlords are under increasing financial pressure as renters have been delaying rent payments or only making partial payments. Although tenants experience trouble paying their rent, it hasn't resulted in lower asking rents.
Find out what's happening in Santa Monicafor free with the latest updates from Patch.
The CARES Act will help tenants pay their rents for now, if they decide to pay the rent, but are tenants already giving notice?
The Federal aid for small businesses including landlords and property management companies will help. However, it seems likely we'll see many vacancies appear and occupancy rates will fall.
Unfortunately for renters, and fortunately for landlords is that rent prices appear to be rising. Nar's recent national home sales report also reports home prices went up in March.
Find out what's happening in Santa Monicafor free with the latest updates from Patch.
Landlords, see why ManageCasa might be your best solution to encourage rent payment from tenants. Tenants should advise their landlords to investigate the advantage of automated partial payments. It's good for both.
We'd like to review/critique the data from top sources including Zumper, to help buyers of investment rental property, landlords and property management companies better understand and manage their rental properties.
In some cities, demand is brisk, seen in charts below, and rent prices have jumped. With interest rates so low, and now lower, the investment environment for rental property is promising. The key factor in today's rental housing markets and real estate markets, is a significant lack of housing.
This year rent increases for rent-controlled apartments in Santa Monica will be limited to 1.4%.The proposed rent adjustment, which will go into effect Sept. 1, is slightly less than last year’s 2% increase and $44 cap.