REAL ESTATE NEWS (Los Angeles, CA) — Are rent prices going up or down? Staying the same? Let’s take a look. According to the MLS statistics for Downtown L.A. and nearby loft neighborhoods 23, 42 and 1375, rents are rising substantially. Urban L.A. housing is getting more pricey:
There were 61 lofts leased last November 2021. An average of 42 Days On Market (29 days Median). Median rent price $2,700. Average $3,073.
This November of 2022, there were only 55 units leased. They were on the market for an average of 50 days (43 days median). Median rent price $2,975 and average rent $3,510.
While it’s taking a bit longer to find renters, the market is stagnating while lease prices are inflating, with tight rental inventory and significantly higher rent prices than the same period last year. Stagflation is clearly still the name of the game, with a declining economy and higher prices aiming for the moon, with no end in sight.
Get a free list of lofts for lease in L.A. Fill out the online form:
Moving for career purposes tends to bring with it a mix of emotions – excitement because you’re starting a brand-new career elsewhere and anxiety because there’s so much to do. Advance planning can be incredibly helpful and keep stress levels down. Knowing you’re prepared will give you peace of mind, and slowly and steadily chipping away at move-related tasks out will help you save time, money, and energy. The LA Loft Blog covers some essential considerations you should make to pull off a career relocation without a hitch:
Check if your employer offers a relocation package
This is a no-brainer but worth mentioning — many employers offer a relocation package that covers your moving expenses, assistance with accommodation, assistance moving, and some monetary compensation. Asking for help from your employer will significantly reduce your burden. If they don’t offer a relocation package, you may be able to negotiate one. Furnished Quarters offers a useful relocation guide.
Organize yourself and create a checklist of moving tasks
Creating a paper or digital spreadsheet with a list of tasks you need to perform, organized by timeline, will make your move significantly easier. MYMOVE offers a complete checklist you could follow. They recommend preparing for your move 2 months in advance. You should involve your family in the planning and make sure everyone is on the same page about what needs to be done.
Create a move and living expenses budget
Moving can be expensive, with an average long-distance move costing $4,890. U.S. News Money advises to start saving for it a year in advance to avoid a cash crunch. Some expenses to account for are rent (possibly for two places), security deposits, packing, moving expenses, professional expenses (like cleaning), and transportation. Furthermore, you should research the living expenses at your new location. There can be an enormous difference – in a bad way – and you may need to set aside enough until you get your next paycheck.
Consider your family’s needs carefully
If your family is coming with you, you’ll need to account for their needs. Some examples are schools, healthcare, entertainment, socialization, and home-related needs. Moving can cause severe anxiety and stress in children. Make sure you talk to them in advance and provide a safe, familiar routine to help them get settled in faster. Creating a self-care plan for the family may also be a good idea.
Find a place to live as early as possible
Securing a place to live can take months, especially if the property market is hot. After talking to your family, start hunting for a house as early as you can. Figure out how much home you can afford and then research average home prices in desirable neighborhoods if you’re buying or rental prices if you’re renting.
For instance, Echo Park is a popular neighborhood for families in LA. The average home costs upward of $1.3 million to buy and upward of $2,000 to rent. You can view online home listings to find something suitable. You can filter by price, home type, and the number of bedrooms and bathrooms. If you can’t visit in person, you can view listings with virtual tours remotely.
Pick an LA Loft
Lofts are an excellent option for young working professionals with families. They’re convenient to lease or buy and, more importantly, convenient to maintain. You can pick an LA Loft Blog tour to learn more about this option. We’ll show you some promising options in popular neighborhoods that match your budget and your family’s needs.
Book reputable movers (and other professionals) weeks in advance
Finding good movers can take some doing – you should ask for quotes and check reputations – and then you need to ensure they’re available when you need to move. Booking movers early to lock in their services. You may be able to get a discount this way too. The same goes for other professional services you may need – cleaners, pet sitters, nannies, handymen, business agents, and more.
Putting items in temporary storage is an option
Your movers will help you pack, but you should begin de-cluttering and getting rid of items you don’t need early. If there are items you aren’t ready to let go of, you can put them in temporary storage until you decide what to do with them. Storage units in L.A. are an affordable option – A 10` x 5` temporary space costs $125. Some storage centers also offer discounts to new customers.
Double-check the paperwork and legalities
You’ll need to get your documents in order before the move. Preparing a family binder for everyone’s important documents – medical records, school records, identity documents, and more – can help. You will need to arrange for your mail to be forwarded. Some subscriptions – like utilities and internet – may need to be stopped or transferred. Moving out of state will involve complying with different tax regulations.
Moving your business to a new state may require additional paperwork
When you’re moving your business permanently out of state, you will need to dissolve it in your current one and reform it when you move. This involves paperwork, including registering your LLC (or other business structure) in your new state. You can avoid big lawyer expenses if you fill in the paperwork yourself or use a formation service. Every state has its own rules about LLC or corporation formation. Do your research before you move ahead to avoid problems.
Don’t make expensive mistakes
Moving can be incredibly challenging, especially if you’re doing it across state lines. It’s a good idea to read up on common moving mistakes so you can avoid repeating them. Some examples are not decluttering, not using professional movers, doing everything last minute, not saving up, moving during a busy time of the year, and not planning your move beforehand.
Conclusion
Getting organized is key to making your career relocation go smoothly. Make sure to include your family in the process – they can help you pull it off successfully, not to mention they need to pack too! Using professionals for major tasks – whether that’s movers for moving or realtors for finding a house – can be a worthwhile investment and help you to keep the costs down.
Get a free list of lofts for sale or lease in Los Angeles. Fill out the online form.
