Apartments for Rent in Salida, CA - Home Rentals | realtor.com® (2024)

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Rental Shortages

It showed that rental vacancies are at their lowest since the mid-eighties. One reason for this is that millennials who have been living with their parents or with roommates have finally decided to move out and get started on their own.

A month-to-month rental agreement, also called a tenancy-at-will, has no end date. Instead, the lease automatically renews every month when the rent is paid. The landlord or tenant must give proper notice to terminate or change the terms of the tenancy.

Declining rents in major California cities

Oakland and Sacramento saw the most significant drops, with rental rates falling by 9.1 percent and 8.1 percent, respectively. Other cities such as Los Angeles, San Jose, San Francisco, San Diego and Long Beach also saw declines, albeit to a lesser extent.

Buzz: Silicon Valley ranks as the hardest spot to find an apartment in California, with western Los Angeles County scoring as the easiest.

Pros of Renting:

You can make a quick decision to move out, especially if you have a month-to-month lease. You have no responsibility to maintain the rented area. You can tell your landlord, and he or she will do all the repairs and maintenance for you. Renting may be cheaper than owning a house.

Unlike homeowners, renters have no maintenance costs or repair bills and they don't have to pay property taxes. Amenities that are generally free for renters aren't for homeowners, who have to pay for installation and maintenance.

Pros and Cons. Buying a house offers stability, equity and tax benefits, whereas renting provides flexibility, lower costs and fewer responsibilities. Consider your finances, plans and lifestyle to decide whether to rent or buy.