Renting, not buying, is OK too…

After a long week of crazy transactions… really, CRAZY… a great friend for many years (since junior high, ah!) got a job at USC, our alma mater! To accommodate her fab new employment, she needs to find a place to live in LA. She’s not quite ready to buy, so she’s looking to rent downtown. We’ve represented many listings selling lofts and condos in downtown, but reasonable rent is hard to find. And the sales market versus the rental market is very different. Because of the tough economy, and many people’s inability to qualify for a loan in this difficult lending environment, lofts and apartments for rent/lease are in high demand. Long story short, it’s a big job to find a suitable place… and with rent commission tiny or non-existent, it’s not really a money maker. BUT this is where the truth about our business comes in- we love it! And, more importantly, we really care about the people we work with. After reconnecting with an old friend, we get to go on the house hunting journey together, and that’s worth a lot!

So here lies the advice: Many people have to rent these days because of the tough economy. You can try to find something on your own on the usual websites (rent.com, apartments.com, even craigslist), but if you have a friend or family member who is a Realtor, definitely ask for help. Honestly, if we use our expertise for anything, it should be to help friends and family. This doesn’t mean you should expect Realtors to work for free, but helping people is where these two Realtors (pointing at ourselves) find the most joy in this business. Where you live is a huge part of your life, and is super important! Even in a great buyers’ market, there are many reasons some people should rent. Fear not, the right place is out there either way! 🙂

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