LA peeps - how are you finding qualified tenants?
Hello all, I am a newbie who has been lurking and reading these posts for awhile. First of all thank you for all the knowledge that has been shared!
Having watched the CRAZY LA market for few years now. I am wondering how do you find qualified tenants with the current prices. Median rent in LA is $2,442 and median household (one or more people contributing) income is 61k. So if the guideline is 3x rent to get approved, you would need a 88k salary to support it. And GREAT if you do, but just curious to see how hard it is to find tenants. Or is it with the housing crisis at the moment people are resorting to all kinds of creative ways to live > Rent out the hammock in my shed.
Data sources: https://www.census.gov/quickfacts/losangelescounty...
https://www.latimes.com/business/la-fi-rent-slowdown-20180921-story.html