Some homeowners are offering houses for rent at tens of thousands of dollars above normal summer rates as demand surges in the Malibu Colony, named L.A.'s priciest area in 2019.
According to Hilton & Hyland agent Chad Rogers, the summer rental season in Malibu is a "frenzy," with people itching for a change of scenery after months of shelter-at-home orders. He's seeing potential renters battling for leases, and homeowners who "really weren't thinking about leasing [out their properties but] have decided to take advantage of these really high rates that are even over market value," says Rogers.