But it is not only the prices that make the search daunting.

Any apartment listed in the classifieds or on rental bulletin boards will draw dozens, even scores of applicants. This leads to intense competition among prospective tenants. Individual appointments are almost unheard of; most apartments are shown through open houses where applicants elbow each other to audition as the best rental bet.

Rental agents are suggesting that prospective tenants come armed with renters' resumes detailing their credit and job history, credit reports and references. They also suggest that renters wear professional attire and show enthusiasm for the apartment, as though the $1,800-a-month junior one-bedroom walk-up overlooking the freeway were their dream pad, the place they wanted to make a home for life.

''Renting a place in San Francisco, people have to treat it as if they are applying to an Ivy League college,'' said Grey Todd, president of Rent Tech, an apartment-listing service. ''You have to kiss up to the landlords. The landlords can pick the creme de la creme of tenants, the absolute perfect person for their space. How many people are looking for a studio or a two-bedroom? As many as 50 to 80 for each place. The tenant has to stand out.''

Landlords, besieged with applicants with six-figure incomes and stock portfolios, say it is not uncommon for prospective tenants to offer 10 percent over the monthly asking price for a rental, or to offer to redo the floors or remodel the bathroom.

''In 22 years, it has never been this crazy, this good,'' said Don DeShon, who co-owns 13 rental properties in San Francisco. Last week, he was offered $5,000 just to hold an $1,800-a-month one-bedroom apartment in an industrial neighborhood that he had yet to advertise.

''I would suggest, if you're looking and you see something you're vaguely interested in, you take it,'' Mr. DeShon said.

Any landlord unfortunate enough to have a place listed for more than a week will be inundated with perhaps hundreds of phone calls. Marc Lamboy, who owns three small buildings in the city, listed a $1,500-a-month one-bedroom apartment and received more than 100 calls in a week. ''Do I have sympathy for renters?'' he said. ''Absolutely.''