The average rent in the los angeles area is $1250 a month. Also the apt building where my girlfriend lives is being sold and the new owner is raising the rent $500 a month, is this fair?
2006-07-27 10:57:01 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
There are several reasons. One is that the city of Los Angeles puts so many restrictions on landlords that developers are reluctant to build new rental housing there because they can make more profit building elsewhere. Rent control makes it difficult to maintain rental property and still make a profit, and drives up the prices for non-controlled units. Combine this with the thousand of people streaming into Southern California every month, and you get- high rents!
If you girlfriend's landlord can get $500 a month more for her apartment than they are now, then yes, it is fair.
2006-07-27 12:11:09 · answer #1 · answered by answermann 3 · 1⤊ 0⤋
It's very fair. Houses in Los angeles range from 400K for a shack to well in the millions. Average rent is 500-600k. The last apartment I lived in was 1500 a month for a 1 bedroom.
2006-07-27 11:02:05 · answer #2 · answered by Matt Beezy 3 · 0⤊ 0⤋
The reason is because their mortgage payment on the property is very high and in order to make money, they have to charge a small percentage higher than the mortgage payment...also because people will pay it.
2006-07-27 11:04:00 · answer #3 · answered by 3eleven 4 · 0⤊ 0⤋
I stay in downtown l. a. and pay a month-to-month lease of slightly over $1600 for a one mattress room place of residing. the quantity of your month-to-month lease relies upon on which area of city you reside in. Irvine must be with reference to an identical or slightly greater.
2016-12-10 16:51:38 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Cuz people will pay it.
2006-07-27 11:00:28 · answer #5 · answered by Anonymous · 0⤊ 0⤋