Los Altos Real Estate Blog

In short, yes!  And I'm not saying that to toot my own horn, but because the market is incredibly competitive and there are very few units available.   Right now, there are only a handful of properties available in Los Altos and several of those are high-end homes that are priced well out of reach from the typically tenant.  So, you need a REALTOR on the street to help you out with finding a condo, townhouse, aparment or single-family home anywhere in Los Altos.  The reason for that is an agent can do the legwork necessary to find a home whereas counting on websites like Craigslist is leaving too much to chance.

There are several kinds of rentals in Los Altos including apartments, condos/townhouses, and single-family homes.  All of these will get significant attention and you need to be prepared to present an application, credit report, and deposit check as soon as you find something you like.  However, the challenge in Los Altos is actually finding something.  Here's a breakdown, by type of property, the best approach to finding your ideal new rental home.

Apartments

There are a few apartment complexes in Los Altos and many are in or near downtown.  You will see ads for these rentals on Craigslist, Padmapper, and Hotpads, most of the time.  However, not all landlords are posting ads online and many rely on signs.  So, the first approach to use is driving around streets such as Gabilan, Tyndall, Lyell, and others where there are apartments and look for signs showing availability.  If so, make a call.  If not, it pays to contact the apartment manager and ask which, if any, units are coming on the market soon.

Condos/Townhouses

Finding a privately owned townhouse available for rent is a rare thing in Los Altos.  While most owners of such properties advertise just as apartment managers do, the rarity of these prime Los Altos homes makes them a target for quickly renting.  So, your agent can keep an eye on such opportunities and present you as a prospective tenant as soon as they come on.  To find these properties, your  Los Altos agent - Bryan Robertson, looks to see what properties are "non owner occupied" and then gets in contact with those owners to find out if a property is available for rent and when.  While this can be time consuming, it is often necessary to be proactive in finding a rental home.

Single-family Homes

These are coveted in Los Altos and it's rare to find one that is well-priced and nicely located.  The challenge with these rental properties in Los Altos is finding a 4 bedroom rental property versus the more common 3 bedroom homes.  Prices can be an issue too.  Most single-family home rentals in Los Altos run between $3500-6000 per month, depending on size, quality, and location.  While it is easy to see prices go my higher, the typical rental is in that range.

Finding rental properties focused on all the usual websites plus networking with local agents.  Often times a local Los Altos real estate agent will have a "courtesy rental" that they forward to all the other local agents.  Those are not necessarily listed online anywhere so the local connections are critical.  In addition, I send requests to other local agents asking for such rental homes.  If a search requires it, I'll also look at homes that are "non owner occupied" to find ideal rental homes.  This level of effort is often required in Los Altos due to the scarcity of good rental properties.

So, using an agent to find a rental property in Los Altos can be extremely beneficial.  If you're looking for a rental home or apartment for rent in Los Altos or Los Altos Hills, I'll be happy to help you.

The Los Altos market is very competitive for rentals just as it is with purchases.  A home for sale, well-priced and in good condition will get offers right away.  The same goes for rentals.  The range of rentals in Los Altos is wide with everything from $1000/month studio apartments to $15,000/month.  While the more expensive properties are obviously not getting as much action as the lower priced ones, there is still competition and demand at all price levels.

Timing is everything in this market and you need to move fast to get good rental properties.  Right now, good homes and apartments are getting several applications within the first 1-2 days.  The landlord may entertain backup applications but generally they're off the market after that first couple of days.  So, to get what you want or be able to take advantage of an opportunity, you need to be prepared.  That requires having everything you need to show interest and capacity to be a great renter.  Besides having a good income and employment history, you need to show that you want the home and are willing to do everything necessary to get it.  Here's what you need:

• A completed application
• A credit report, preferably with employment verification
• A list of references
• A check for the deposit and first months rent

Depending on the situation, this package should be enough to ensure the landlord has everything they need to make a decision about you...on the spot.  While some landlords will take additional time to review the information you've submitted, it's in your best interest to convey your desire for the property at the time.  If you have a hard time "selling" yourself to the landlord, that's the perfect opportunity for your real estate agent to step in and help with negotiating.  If you're a qualified renter, that needs to be conveyed to the landlord so they don't pick your application over others.

This same strategy applies to other local markets besides Los Altos.  Basically, if you see something good, you've got to apply for it immediately or it'll be gone.  Another consideration is that when rentals come on mid-week, you'll have less competition than on the weekends because many people can't get off work to see the property.  Keep an eye on the various rentals on Craigslist, Padmapper, and Hotpads to find what you want and move on it as fast as you can.