Now that April has arrived, my phone is starting to ring with inquiries about Malibu summer rentals. I just completed my first lease of the year on Carbon Beach at $55k per month with a nice couple from New Jersey who needed to be near LA while their son completes his internship over the hill.
There were a few things that were new to them as we went thru the process of securing the summer lease. For one, they were pleasantly surprised that the asking price was negotiable and that I was able to save them a fair amount of money in the final lease agreement. My Malibu real estate clients always ask “Do you think there is room in that asking price for the lease?”….Same answer, for even more unusual request in the offers, “Everything is negotiable in real estate.”
They also need to understand that Malibu is on septic systems and that explained why in my offer I included language that stated the landlord was to be responsible for maintaining a working system. Sometime I’ll even request that it be pumped prior to the tenant moving in especially if the house or system is older…most systems were designed to last about 30 years.
The last item to be dealt with was the security deposit. Landlords can ask for the first month’s rent plus an additional month’s rent if it’s furnished. This can lead to a bit of sticker shock when the tenant is presented with move in costs. I’m always asked “Why so much?” and I explain how quickly an over flowing bath on a second floor can ruin a lot of really nice stuff….wood floors, art work on walls, and ruined electrical systems. Does it happen? Rarely, but I do have stories!
Here is a quick video talking a little more about the Malibu summer rental market. Watch as I give tips to both Malibu landlords and tenants that can help make renting a beach home in Malibu a bit easier.