The situation is quite the opposite in West LA. My assistant and his partner currently pay $3,650 for a townhome in West Hollywood. Their lease ends next month. Their landlord came to them, begging them to stay. They had been planning to move anyway, so they asked for aggressive reduction: $2,500/month with no lease. The landlord’s counter: $2,500 with a 6 mos lease.
So they are renewing and saving $1000/month.
My landlord came shopping around a couple of weeks ago (our lease expires at the end of May). He wasn’t begging, but it was VERY clear that he wanted us to re-up for another year. He kept calling us “good tenants” and a pleasure to have. We plan to ask for a reduction – just a few hundred dollars.
