Renting in Westwood, Los Angeles: An Overview of Rates, Parking, and Move-In Expenses

Are you looking for apartments close to UCLA? The Wilshire Corridor high-rises, young professionals, and students all contribute to year-round high demand for rentals near UCLA in Westwood's fast-paced real estate market. Before you sign on the dotted line, you can see exactly how much rent, parking, and related move-in costs will cost.

What to Expect in Westwood for Studio or One Bedroom

• Studio: Monthly rentals between $2,000 and $2,600 are commonly listed in Westwood. In North Wilshire, newer buildings with central air, parking, and in-unit laundry are typically more expensive than older buildings farther from campus.
• 1-bedroom: The majority of one-bedroom rentals on Wilshire Corridor or fully renovated units will cost you between $2,600 and $3,400 a month. However, premium apartments in these areas might cost up to $4,000 a month. (Source)

The building's age, proximity to Westwood Village and UCLA, parking availability, furnished versus unfurnished options, and whether utilities are included in a single package all affect pricing. If you are willing to share common spaces, co-living options can drastically reduce the cost per person.

Westwood Parking: Permits and Challenges

• Parking in buildings: Many Westwood buildings either have limited garage parking spaces with waitlists or charge monthly fees. To set aside an additional $100 to $200 per month for the rent of designated mid-rise spaces, which frequently have tandem spaces.
• Rules for parking on the street: The LADOT program is used by most residential blocks near UCLA. Daytime parking without a permit may be subject to a time limit in permit districts. You can park as indicated with resident permits, but visitors can also buy guest permits. Applying will require proof of residency and vehicle registration.
• How challenging is it? When classes are in session, especially on weekdays and late at night or early in the morning, schedule extra time near Westwood Village and the campus. Simply keep an eye out for signs about street cleaning, meter hours, etc. Before signing any paperwork or lease agreement, it would be advantageous to reserve space in the building or verify availability for mission-critical parking.
• Car-free options: Westwood is accessible on foot. While Santa Monica and Century City are connected by Metro and Big Blue Bus lines, UCLA's BruinBus serves the campus. Short hops can also be covered by electric scooters and bicycles.

Westwood Move-In Prices

Application fee: Most Los Angeles landlords charge between $38 and $65 per adult applicant, depending on which tenant screening report their tenant screening company ran. California caps screening fees annually. Any related fees shouldn't be collected if they didn't perform the background investigation themselves.

• Security deposit: With a few specific exceptions, California law established a standard residential security deposit of one month's rent as of July 1, 2024. Verify which cap is appropriate for your unit and get the exact number in writing.
• Rent for the first month: Due on the day of move-in or lease signing. To remove an apartment from the market, some communities require an initial holding deposit that should be applied toward move-in funds.
• Parking fee: Be ready to pay in full for one or both months at a time if your building has parking fees. Verify tandem arrangements and the assignment of a designated spot.
• Utilities: When renting in multi-family buildings in Los Angeles, SoCalGas usually provides gas, Spectrum or AT&T provides internet, and LADWP usually provides water and electricity. Ratio billing systems are used by many Westwood properties. Before committing, it's a good idea to request a sample bill or 12-month average to prevent disappointment.
• Renters insurance: Liability coverage of at least $100,000 is frequently required for landlords. Depending on coverage requirements, policies typically cost between $12 and $25 a month.
• Pet expenses: Pet rent could be an extra expense. Any pet deposits count toward California's security deposit caps, and your total deposit cannot exceed the cap. Naturally, some apartments don't need a deposit.
• Administrators, fobs, and keys: When you move in, be prepared to pay a small admin fee or access device fees. Get a move-in ledger listing all items.

An Example of a One-Bedroom Accommodation Budget

These could include the following when renting a $3,100 one-bedroom apartment with standard one-month deposits and daily parking included:

• $3,100 for the first month's rent and a $3,100 security deposit
• The application fee is about $50
• Usually, parking costs $100
• Up to $100 in deposits or pro-rate fees may be required for utility and internet setup

On the day of move-in, a reasonable estimate would likely be between $6,400 and $6,700, with final numbers based on the variables mentioned here.

How to Make Wise Purchases in Westwood

1. Cast a wide net: Investigate websites such as HotPads, Zumper, Tripalink, Apartments.com, and Zillow. Tripalink offers a variety of furnished roommate arrangements near UCLA, as well as utility packages to help with budget planning.
2. Set a time for your search: 60 to 90 days prior to the start of the UCLA fall quarter, when inventory usually rises. Winter may have fewer options but cheaper costs. Apply right away with all necessary paperwork as soon as you locate a strong unit.
3. Bring all necessary paperwork, such as government identification, pay stubs, offer letters, bank statements, and references. The majority of landlords require tenants to pay three times their rent or provide certified guarantors who can act as collateral for unpaid bills.
4. Verify the rent regulations: For many buildings built prior to October 1, 1978, Los Angeles has a Rent Stabilization Ordinance. Make sure to find out when your Westwood building was built and whether annual increases may be restricted. Newer Westwood properties are frequently not covered by RSO.
5. Checking the addenda: Before signing any addenda, get copies of the parking agreements, utility addenda, and any house rules regarding packages, elevator reservations, or noise levels.

It Matters Where You Live in Westwood

• Westwood Village and North Village: The most popular neighborhoods with limited parking, easily accessible by foot to UCLA and nightlife.
• Wilshire Corridor: Full-service skyscrapers with expensive rentals that frequently come with assigned garage or valet parking.
• North of Wilshire, residential areas are characterized by low-rise structures, calmer environments, and more permit-based street parking.
• Although it takes longer to walk to campus, it offers better value south of Wilshire toward Beverly Glen and Pico.

FAQs

What is the current average rent for a studio or one-bedroom apartment in Westwood?

One-bedroom apartments cost between $2,600 and $3,400 per month, while studios typically cost between $2,000 and $2,600 per month. Properties in the Wilshire Corridor are priced at $5,000 or more. The building's age, the amenities provided, and whether parking is covered by the lease all affect the price.

What are my chances of finding a spot if there's no street parking available in Westwood, and do I need a permit?

Visitors can purchase permits as needed, and most residential blocks in the district use LADOT's Residential Permit Parking program. When parking without one, you will run into time limits throughout the day. Just give yourself more time to get to campus, even if there aren't any designated areas. Additionally, read the posted signs at all times.

When should I budget for Westwood move-in expenses?

Keep the following in mind when calculating the expenses associated with renting in California: application screening fee per adult, first month's rent, security deposit up to one month's rent (usually capped at one month's rent), parking fee, utility deposits/setup, renter's insurance, and any parking fees; You should also anticipate additional rent-related expenses if you have pets, as these expenses are subject to legal caps established by California state law.