There are a LOT of properties for lease these days, and many of them are sitting on the market for a long time. Here’s a quick rundown of the numbers as of September 20, 2017.
Santa Monica
75 homes for lease in all of Santa Monica asking $9,000/month or more
41 homes for lease just in 90402 asking $9,000/month or more
The average number of Days on Market for leases in 90402 is 149.
Beverly Hills Post Office
141 homes for lease just in 90210 asking $9,000/month or more
The average number of Days on Market for leases in 90210 is 162.
The Take-Away
With the average lease taking so long to close, leasing is no longer an easy task. Landlords now need to compete for tenants, so adequate preparation of a home is a MUST, and having a Realtor who’s not afraid to work hard is crucial.
As a Neighbor, Realtor, and Licensed Broker, I am happy to share tips, so feel free to call me.
A CASE IN POINT
Just leased by Connie:
Santa Monica Beach home (pictured above)
Asking: $25,500
It wasn’t enough to just list this home on the MLS. Connie went to local businesses, tech companies, and beach front hotels, such as Shutters, with beautiful, 6-page brochures showing the property in its best light. Time, money, and great effort were invested, and in the end, Connie was successful in finding a tenant.