Another WTF moment

A week or so ago someone posted on a private El Segundo Facebook group that they were moving and suggested for anyone looking for a 3/3/ house to call the landlord at the number provide. 

The first thing I noticed was people’s inability to read the post. “For info call this number.” The original poster is the current tenant and just trying to offer up some info on the house to locals in search for a rental. Most of the questions asked OVER and OVER were the price. Then people would complain that the price wasn’t listed. RTFM! Or in this case read the fucking post!

The second thing I noticed was the absolute feeding frenzy that was created. 23 comments of people referring other people, begging, asking the same stupid question, pleading their case on why they were a great candidate.  A couple dozen people thought that they would be better suited by asking stupid questions rather than immediately picking up the phone and calling the number. Well at least a lot of the competition have shown themselves to be not so bright. 

It made me sick. It also showed me just how fucked up supply and demand is in this town. Locals wanting more space or out of an apartment, friends of locals who know how great El Segundo is. Out of towners just looking in the area. Employees of the several dozen fortune 500 companies located in town. They all want in.

This supply demand imbalance is further exacerbating the pricing issue. We’ve seen the pricing in town continue to get nutty and over the past year I’ve witnessed the rental pricing get insane. As a home owner there’s a delicate line between renting to the best tenant and maximizing the most profit. Err too far in either direction and there is bound be have large financial implications. If you figure most houses and decent condos are renting for $3500-$5000 then you can see how a month or two without a tenant can hurt.  

So if you are looking to rent in this town, good luck. I will say that there are TONS of long time El Segundo residents with rental properties that aren’t out trying to gouge people. On the other hand, supply and demand has a strong influence on market price and right now demand is far and away above supply. 

Side Note: The phone number in the post was for a general contractor. I can only imagine that he was flooded with calls, so much so that he though it was in his best interest to pay a real estate agent to take over the process. The for-rent sign is now for a real estate agent (might have been kirk brown).

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