Searching for a home in the Los Angeles area can seem like a daunting task. You’ll likely have a number of factors to consider and not a lot of time to shop around. This is challenging in any city, but the fast-paced Los Angeles real estate market can add even more challenges.
We’ve all heard the stories. The perfect ocean view apartment in Santa Monica grandfathered to a lucky tenant. This is the stuff of dreams: rent control. The monthly rent? Less than half of market value. All he or she has to do is not move out to continue seeing minimal rent increases each year.
Looking for an apartment is a quest for living space. The lease on your old apartment may be up, or perhaps you have relocated from out of town. Finding the right apartment is important to you and has to fit your budget and your basic requirements as well.
With so many apartments for rent in Los Angeles, finding a place can be overwhelming. The more information you have, the better prepared you will be to navigate the process. Here are three potential pitfalls to watch out for during your apartment search.
Each time a landlord looks at your credit history when conducting a tenant verification, they are initiating what’s called a credit inquiry from a credit bureau.
Although all inquiries on your credit are sourced from the same information, beware that all inquiries are not created equal! There are hard inquiries and there are soft inquiries.