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Mega Leases in Los Angeles

Leasing a Luxury House or Condo is an interesting job, especially when one considers the monthly rentals achieved.

Originally listed at $15,000 per month in this full-service 24-story condo tower at The Remington at 10727 Wilshire Blvd, a 2-Bed 3-Bath condo measuring 3500 sq ft recently leased for $12,000 per month. The fully furnished unit includes the services of a house-keeper twice a week. (Left Pic)

How about a 3000 sq ft 3-Bed 2.5-Bath condo with an awesome view overlooking Santa Monica Beach which recently leased for $10,000 per month? (Right Pic - View from balcony)

Renting a beach house in Santa Monica or Malibu can be a mind-blowing experience at $30,000, $45,000 or even $80,000 per month!

(Pics below) This 5-Bed 4-Bath house rented for $30,000 a month ($60,000 security deposit). The MLS Listing suggests you can "drift off to sleep with waves hitting the sand"..... unless of course you're thinking of the $30K it's costing you each month!

(The property above was Listed by Coldwell Banker - Brentwood and Leased out by Hilton & Hyland)

Posted by Stewart Penn - Los Angeles Condo Specialist on 11/08/2009 03:57 PM

Comments (9)

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Originally posted at: LA Connection Property Blog: Mega Leases in Los Angeles

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9 Comments on Mega Leases in Los Angeles

NOV

I can't imagine. Maybe if I were able to imagine it hard enough, it would come true and I'd be able to afford $30,000 a month!

Seems like you could make a pretty good living just trotting around leasing houses and condos here. How much would they pay the leasing agent?

Cheers,

Robin

Leasing Agents typically earn 3-5% of the value of the lease (The Listing Agent also earns 3-5% of the value of the lease)

Stewart-

I am keeping the coffers partially filled in this market with some higher-end leasing. It's good money if you know how to find tenants, and it's quick cash without waiting for the escrows to close. However, I have yet to lease property at this level...looking forward to that day.

NOV

Stewart - The monthly rentals there actually don't blow my mind when I think of the other factors in the cost of living and the salaries. It's all relative, isn't it? Gorgeous pics!

Amazing View from that Property. The monthly lease is a bit Mind Blowing but Im sure its all relative to the area. Especially the Santa Monica and Malibu prices. I paid less for my 2 vehicles than one months rental fee in those areas. It must be a nice market to call home. ;-)

NOV

Well I suspect anyone shelling out that kind of lease payment is not too worried about what it is costing. I saw a hotel suite recently that rented for $10K per night!

Jeff

Wonderful photos... Sometimes I actually miss living in LA!

NOV

Must be a very small client list that can afford the properiy listed above!

I just a condo at The Churchill in the Wilshire Cooridor in 07. Hoping for values to go up soon. Paying $1,500 in HOA dues/month. Looking back, i wish i had bought a home instead because the dues you pay on the cooridor are all pretty much the same and are NOT tax deductible. The funniest part is that i bought when i thought the market couldn't possibly go any lower. What do i know? :)

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