A new rental popped up at 510 Palm Ave. 1880 sq ft at $5500/mo?!
Sounds ludicrous for a 3/2 in El Segundo.
You would think that instead of greed motivating the owner to squeeze every last penny out of a prospective renter that they would prefer a price that would attract a larger pool of applicants and pick a tenant that is willing to stay for a while. I’ve seen a lot of these over priced rentals in town stay occupied for only a year. Then the homeowner has a few hundred in expenses and a month or more of vacancy. Do the math people!
I know of a townhome that was rented at an overpriced rate because the owner was willing to do a 6 month lease. When that tenant left they figured they could raise the rent again. Wrong! That overpriced rate was based on that tenant’s specific need, not market rates. I think it’s going on it’s third month of vacancy.