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San Diego rental market not slowing down

San Diego rental market not slowing down
Posted at 5:42 PM, Jun 28, 2022
and last updated 2022-06-28 20:42:53-04

SAN DIEGO (KGTV) — It is not every day that you see a lobby that is bright pink. It is one of the newest apartment buildings in Barrio Logan called Los Patios.

Construction is almost complete at the apartment complex on National Avenue. The company that manages the property says there is already a waitlist to get in.

"The market is still crazy. Prices are still going up," Devin Fragoso, Senior Leasing Agent at Urban Coast Properties, said.

Urban Coast Properties manages about 1,000 units in the San Diego area. Fragoso said he is seeing an increase in applicants who already live here.

"In general I think people's leases are coming up. With the rent increasing, we notice that people do not want to stick with their current lease," he said. "They want to move, do a different place."

Fragoso said new construction is in high demand.

Each unit could see 10 applicants or more. Fragoso said if you see something you like, check out when it was posted, and act fast.

"Apply right away. Make sure your applications are fully completed. That way, the company has all the information they could possibly get," he said.

Do your homework. Make sure the company has a brokerage license. Also, beware of scams on Craigslist.

"People from Craigslist will take our ads that we have posted months, even years before, and put their Venmo on there. I always suggest googling the company. Calling a real phone number," Phoebe Lyons, Regional Manager of Urban Coast Properties, said.

The apartment building is expected to open in just a few days. The lofts start at $1,950.