Apartments and Work Salary

[timtemtym]

Yep, in Houston I always had to show paystubs at complexes to make sure the gross pay was 3x the rent. Out here, the few complexes I looked at said 2.5x the rent. But the rental agents almost always added that they could make exceptions. There seemed to be racial undertones with that statement. I'm a white guy with a very stable job. Of course I did use that job stability to turn it around on them for rent negotiations (never pay sticker price!).

For private listings (I spoke with a few), they didn't mention any income verification, just judged me from my look and my car.

[strikefirefall]

Originally Posted by Beachchic8

Is the "3x" for gross income? Looking at 2/2 apartment in Santa Monica around Montana area with washer dryer. Deciding between renting or buying a home or condo/townhouse in Westside. What do you guys think of the properties in Playa Vista? Thank you!

3x is usually gross income. If I were you I'd buy, but only if you plan to stay there forever. Playa Vista is nice in my opinion.

[thelopez2]

Originally Posted by Beachchic8

Is the "3x" for gross income? Looking at 2/2 apartment in Santa Monica around Montana area with washer dryer. Deciding between renting or buying a home or condo/townhouse in Westside. What do you guys think of the properties in Playa Vista? Thank you!

The new places, in Playa? They are building a lot more there. If you are working near buy or south, it is a great location. Doesn't Playa Vista have Methane alarms and high HOA fees?

If you are going to buy on the Westside, you better be able to stomach losing $50,000 as soon as you buy a house, then if prices go down, you lose another 20k-$150k.

[bpeeps]

I like how OP asks about renting and City Data tells him to buy when he clearly doesn't have the budget for that. Man, these forums.

In general, most apartment complexes ask that you kame 2.5 to 3x more than what you spend on rent. You can easily find ways to get around this, however.

[yby1]

Originally Posted by thelopez2

Doesn't Playa Vista have Methane alarms and high HOA fees?

Yes and Yes. It's built on top of (methane producing) wetlands and in some parts, ancient native american burial grounds.
PV is luxury, so the HOA is high. It also has affordable housing in there somewhere.

[kcimos]

just buy a mansion in Bell Air & start your own business. That's what EVERYONE does.

[Ceece]

I know people who rented without a job on the strength of their credit score alone, so it's all a crap shoot.