Posted by: jhamon | July 5, 2009

LA Rental Vacancies Hit Decade+ High

LA Rental Rates Fall

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%.

 

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