End of the Year Multifamily Data - Wall Street Journal Reports

The Wall Street Journal reported this morning that while we may begin to see some recovery in the single-family home market, we can expect multifamily properties to take much longer.

Construction is seemingly at a stand still as the National Association of Home Builders reported that its sentiment index fell in December to its lowest level since mid-year. Completions of apartments are down 16% from two years ago, and new permits for construction in October are down 75% on average.

The bottom-line is that things are tough right now, there is a lot of inventory, and fewer renters. This is nothing new, but during the holiday season when things are especially slow, it becomes more compounded. This is the time when you really need to push every available vacancy. That mean personally showing every vacancy, pushing a listing with aggressive marketing, and working with prospective residents. As an owner there comes a point when you've got to ask yourself, why do I continue to have vacancies, while other buildings stay occupied or lease up so quickly?

At Pacific Shore Property Management we have the answer! To learn more about why we're the preeminent Los Feliz Property Management Company please call or visit us online today!

(877) 4-PSPMLA

or

www.PSPMLA.com

Hollywood Rental Statistics

Here is some interesting data on average unit sizes in square feet for rental inventory in the Hollywood area of Los Angeles:

Studio - 590 square feet
1-Bedroom - 760 square feet
2-Bedroom - 1070 square feet
3-Bedroom - 1510 square feet

At Pacific Shore Property Management we keep track of all kinds of rental data for the areas we currently manage properties in. This way when we receive a notice to vacate from a tenant we can immediately place the unit on market to pre-lease. By keeping track of current market rent levels, and other information such as the square footage data listed above, we are able to respond quickly and effectively and keep vacant time on market to a minimum.

If you have a vacancy in the Hollywood area of Los Angeles please contact us today to find out what your market rent is free of charge with no obligations. We offer stand alone leasing services as well. Pacific Shore Property Management is truly your Hollywood Property Management resource!

www.PSPMLA.com

or

(877) 4-PSPMLA
(310) 839-8970

Average Rents in Los Angeles on the Rise?!?

According to rentBits, a rental search engine for apartments and rental homes, the average rental rates for the Los Angeles area has seen a slight increase November over October. Collectively across all bedrooms the average rental rate has risen from $2020 in October to $2041 in November. This is great news for property owners who have been battered by decreasing rentals rates.

In most other cities across the US, rental rates for apartments are seeing a decrease for the year. Much of this is due to a decrease in demand. Many renters are moving into single-family homes, moving back in with family, or doubling up with roomates. This decrease in demand coupled with increased inventory has driven rental rates down across the country.

Here at Pacific Shore Property Management we've been aggresivley pre-leasing all our upcoming vacancies. By starting the day we receive notice to vacate we've been able to keep vacant time on market to a minimal. To learn more about why Pacific Shore Property Management is the best option for your Los Angeles Property Management needs please visit our website at www.PSPMLA.com. We are the #1 Los Angeles Property Management Companies and would love to hear from you soon!

(877) 4-PSPMLA

or

(310) 839-8970

West Hollywood 1-Bedroom Average Rents

Here are some rental statistics for a standard 1-bedroom in the West Hollywood area of Los Angeles.

Rent Range: $1050 - $1700

Mean Price: $1275

Median Price: $1250

Do you have a rental in the West Hollywood area of Los Angeles? Pacific Shore Property Management is the preeminent West Hollywood Property Management Company and we'd love to speak with you about how we can help you! Whether you have a single-family house or apartment building if you are looking for a West Hollywood or Hollywood Property Management Company please call us today at,

(877) 4-PSPMLA

or visit our website for more info at,

www.PSPMLA.com