Results tagged “renting”

Neverland Ranch is now someone else's problem. Michael Jackson gave the Santa Barbara County pad earlier this year and has moved into the Playboy Mansion neighborhood of Holmby Hills. He didn't buy a new home, though, he's renting... for the reasonable price of $100,000 a month. The $38 million home has seven bedrooms, 13 baths, 12 fireplaces, a screening room a wine cellar, garden, swimming pool and guest house, finds TMZ.

In a decision that could have massive repercussions for Internet businesses who thrive by overcharging people for something they'll have better luck with on Craig's List, the 9th US Circuit Court has ruled that certain federal laws, specifically fair housing laws, do indeed apply to the internets:

Hey, remember when we were all like "Hey LAist peeps! We're moving to Hollywood! In only thirty days! YEAH BABY!" and everything was going great and we got some good tips on movers (Delancey Street) and neighborhoods? And if you'd asked me if thought I was going to be able to make it by July 1st I'd be all like "YOU KNOW IT!!!" Yeah, well, as of eleven o'clock this morning, that was how...

An article in the NY Times advises renters are better off paying that monthly check to the landlord than actually buying property. In “A Word of Advice During a Housing Slump: Rent” writer David Leonhardt takes data from every metropolitan area (including LA) to forecast the benefits of buying vs. renting. Leonhardt writes: “Over the next five years, which is about the average amount of time recent buyers have remained in their homes, prices...

The Associated Press is speculating that would-be homeowners waiting for that market to cool are pushing up rents around LA by doing stupid-ass shit like using the Internet. By frequenting sites like BidRent.com, prospective renters are virtually screwing each other by overbidding on vacant apartments. Property investor Rachel Morton recently listed a one-bedroom condo in the trendy Westwood neighborhood of Los Angeles for $1,750 a month. An auction on BidRent involving at least seven...