Foreclosures are once again in abundance in Agoura, and rentals are in demand. Homeowners who have lost their homes in a foreclosure are looking for rental properties and inventory is low.

There are 100 homes in the 91301 zip code that are in pre foreclosure, bank owned or slated for auction. However, there are 23 active listings for rentals of single family residences, town homes, condominiums and apartments. Of the 23 active listings 6 are high end properties with rents at $5000-$18000 per month. People who have a foreclosure on their credit record have low FICO scores and many landlords are looking for good credit. Some properties are on the market for months, while landlords try to find the right tenant.

What are some of the ways prospective tenants can be more desirable to landlords. Firstly, having a history of stable employment for many years shows landlords that although the credit record may not be the most desirable, a steady income shows they are able to pay the rent. Another way is to offer 2-3 months rent in advance. The security deposit that  landlords are asking for can only be equal to two months rent by law. Having someone cosign to guarantee the lease is another option.

Many people are facing hardships and while many  move to more affordable areas, there are  those who have few choices.

I would welcome your comments and experiences to share with those who are in the process of trying to reestablish themselves and provide for their families.

Information is deemed reliable but not guaranteed.