|Specialty||# of Agencies|
|Single House or Condo||12|
|Home Owners Association||15|
|Total Local Companies||35|
The average rent for a 3 bedroom house in Los Angeles, CA is $2,061.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Los Angeles, CA Rental Market Overview
LA Vacancies Increase, but New Construction Focused Near Urban Core
While the rental property markets beyond the Los Angeles urban core and coastline can be hit and miss in terms of results, construction and development is booming downtown. The Marcus & Millichap 2013 National Apartment Report (NAR) noted that more than 80% of the new apartment construction in Los Angeles County will be centered on downtown, Wilshire/Westlake and Venice/Westchester/Marina Del Rey. That's a little unsettling if you're trying to compete in the metro core and coast, but ideal if you're looking for new investment opportunities in other places with more property on the market. The 2013 NAR index bumped Los Angeles up three spaces from last year, placing it in tenth place out of 44 rental markets. While prospects for the area remain positive, there is some caution about the 5,000 new apartment units that just came online, which is significantly more than any time in the last five years. That's one reason why the report projected that the Los Angeles vacancy rate should rise to around 3.7% by 2014.
The Hunt for Bargains Continues
The 2013 NAR also suggested that investors may continue to look for deals in South Los Angeles and the San Gabriel Valley, although managing these properties may involve more intensive work than the new Class A luxury units along the shoreline. It makes sense when you examine the distressed properties listed on Trulia, Zillow and other real estate sites. While extensive multiunit renovation projects require extensive capital, there are a number of relative bargains among duplex and single-home listings in the Los Angeles County area. The key consideration should be researching the local market and recognizing economic development opportunities before other investors jump in to grab the best deals. That's why many private investors seek insight and advice from real estate professionals at Los Angeles property management companies. In addition to offering tenant screening, lease enforcement and maintenance or repair services, local property management companies also monitor real estate trends for their clients, especially whenever area investors add or divest rental assets. Discover how property managers can improve your bottom line. Review our profile listings of Los Angeles property management companies and then request your free information today.
Top Single Family Managers
Sherman Oaks, CA 91423
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Experienced. Reliable. Local.