I’ve often scoffed at the ongoing discussions around “affordable” housing, one man’s affordable is another man’s extravagant. What we do know is that California Renters are spending, on average, more than 35% of their pay on rent. This statistic does not surprise me, homeowners in California are spending a similar amount on mortgage payments. Supply of both rentals and homes for sale is the problem. The number of available rentals remains near all-time lows and demand continues to exceed supply, driving rents higher. Upon searching the MLS I found 153 homes and condos for rent in the Conejo Valley, listings were up 20% from last month’s lows. Roughly 75% of available rentals were listed for more than $5,000/month. I found only 17 properties listed for less than $3,000/month. Rents may not be “affordable,” but rent control will only make it worse

Need Help?
With demand high and availability low, let Summit Property Management help you navigate these challenges. Contact us today to explore your options and secure the ideal rental or investment property.