Leasing:

For property owners... the advantages include income, tax savings, and letting someone else help pay the mortgage while your property appreciates. As a general rule of thumb properties lease out for about 5% of there fair market value. But, it varies depending on location, season, length of lease term, etc. For example, high end beach homes can lease out in the summer months for as much as $50,000 to $100,000+ per month. These same houses on a yearly basis lease for about half as much. As a property owner, the main considerations are the credit and rental history of the potential tenant, securing rental and securing deposits and being covered under the tenant's rental or homeowner's liability policies.

For tenants... leasing is a great opportunity to enjoy the Malibu lifestyle without the long term costs and obligations. For those seeking a summer lease in a premier beach house, it is recommended you secure a spot early on, i.e. by April, or you may be out of luck for the prime months of June, July and August. For those looking for a yearly lease you can expect to pay anywhere from $3,000 per month for a small condo to $25,000+ per month for a luxurious estate. An average 4BR family home in a nice neighborhood tends to range in price from $5,000 to $10,000 per month on an annual basis. Unless you are willing pay a premium for a short term summer lease, most landlord's prefer a yearly lease - although certainly shorter terms can be found.

If you would like further information about leasing your home in Malibu, or you would like my assistance in finding a nice place to lease, please feel free to contact me.