Want to rent in Sacramento? Be prepared to get in line

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WEBVTT SHARD, EVEN HERE IN THESE MIDTOWNAPARTMENTS.WHEN IT COMES TO RENTING INSACRAMENTO, THESE DAYS, IT'S NOTJUST ABOUT AFFORDABILITY, BUTAVAILABILITY.>> MOST OF THEM ARE GETTINGRENTED BEFORE OUR TENANTS MOOUT, WITHIN THREE, FIVE, TENDAYS.KATHY: BILL SHOWER MANAGES ABOUT1000 HOMES IN THE SACRAMENTOAREA, AND TYPICALLY SEESVACANCIES AT ABOUT 10% TO 15%.BUT NOW?>> LESS THAN 1KATHY: THE WAITLIST AT LEGADO DERAVEL ON 16TH STREET STRETCHESTO SEPTEMBER.>> IT'S REALLY KIND OFASTOUNDING BECAUSE THERE WASN'TMUCH INTEREST IN DOWNTOWNSACRAMENTO AND NOW IT'S ALLABOUT DOWNTOWN SACRAMENTKATHY: THE AMENITIES OF CITYLIVING, MIXED WITH HIGH-ENDOFFERINGS, ARE DRIVING UP THEAPPEAL, BUT ALSO PRICES.>> OUR UNITS GO ANYWHERE FROM$1950 ALL THE WAY UP TO $3500.KATHY: AND YES, PEOPLE AREPAYING.THE EVIVA MIDTOWN OPENED INOCTOBER, AND APARTMENTS AREGOING FAST.>> WE WENT FROM 60% LEASED TWOMONTHS TO 95% RIGHT NOW.KATHY: AND IT'S NOT JUSTMARKET-RATE RENTALS.AFFORDABLE UNITS ARE BECOMINGFEW AND FAR BETWEEN.JUST ASK CADA, A PUBLIC AGENCYTHAT MANAGES PROPERTIES INSACRAMENTO, 25% BEINGAFFORDABLE.>> WE OPEN UP OUR WAITLIST EVERYMONDAY MORNING ONCE A WEEK AWE STARTED HAVING LINES OUT THEDOOR.KATHY: AND NORA TORREZ SAYS IFIT WASN'T FOR RENTAL ASSISTANCE,THERE'S NO WAY SHE COULD LIVE ON18TH AND CAPITOL

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When it comes to renting in Sacramento, these days it's not just about affordability -- but availability. The demand for downtown and midtown living is going up and that's leading to waitlists for both market rate and affordable units. "Most of them are getting rented even before our tenants move out," Bill Shower, owner of S&S property management said. Shower typically sees vacancies at about 10 to 15 percent among the hundreds of homes he manages. But now, he said the vacancy is less than 1 percent. The waitlist at Legado de Ravel on 16th Street in Sacramento stretches into September. The Eviva Midtown opened in October -- and apartments are also going fast. "We went from 60 percent leased two months ago, to 95 percent right now," Eviva Midtown spokesperson Marina Ambroselli said. "So it's really kind of astounding because there wasn't much interest in downtown Sacramento, and now it's all about downtown Sacramento," Capitol Area Development Authority (CADA) spokesperson Wendy Saunders said. CADA is a public agency that manages properties in Sacramento, 25 percent being affordable. "We open up our waitlist every Monday morning, once a week, and we've had lines out the door," Saunders said. Property managers said the waitlists are a result of low inventory. "In my view, it’s a supply problem," Saunders said. "We just don’t have enough -- we need more." The amenities of city living, mixed with high-end offerings are driving up the appeal -- but also prices. At the Eviva Midtown, apartment prices range from $1,950 per month to $3,500. Sacramento resident Nora Torrez said if it wasn't for subsidized housing, there's no way she could live on 18th Street and Capitol Avenue. "I would be homeless," she said. "It's that bad."