LA Rental Rates Fall As Vacancies Rise

From Vacancies give renters room to negotiate:

L.A. County’s vacancy rate rose to 5.3% in the first quarter. As more Southland apartments go empty, property owners are more willing to negotiate lease details.

…

I’ve never seen it this saturated with rentals,” said property manager Vickie Callahan, who owns a three-unit and a four-unit building in the area. “It’s very scary.”

…

The last time vacancy rates were this high in Los Angeles County was in the early 1990s, when they hit 5%.