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June 11, 2009 at 11:24 AM #15867June 11, 2009 at 11:48 AM #413851
DWCAP
ParticipantHow about rents just not going up?
I had a rental I got in 2006 that I just vacated in May. In total over those ~3 years my rent went up $25/month. I also know for a fact that they rerented it for the amount we were renting it for, so itll be ~4 years with a $25 rent increase. It wasnt over priced in 2006 compared to the market then either and isnt a craphole.
My Girlfriend had the same story. Her rent was pretty much fixed from 2005-2009, and the exact same place is now renting for $100 less than she was paying.
June 11, 2009 at 11:48 AM #414410ParticipantHow about rents just not going up?
I had a rental I got in 2006 that I just vacated in May. In total over those ~3 years my rent went up $25/month. I also know for a fact that they rerented it for the amount we were renting it for, so itll be ~4 years with a $25 rent increase. It wasnt over priced in 2006 compared to the market then either and isnt a craphole.
My Girlfriend had the same story. Her rent was pretty much fixed from 2005-2009, and the exact same place is now renting for $100 less than she was paying.
June 11, 2009 at 11:48 AM #414341ParticipantHow about rents just not going up?
I had a rental I got in 2006 that I just vacated in May. In total over those ~3 years my rent went up $25/month. I also know for a fact that they rerented it for the amount we were renting it for, so itll be ~4 years with a $25 rent increase. It wasnt over priced in 2006 compared to the market then either and isnt a craphole.
My Girlfriend had the same story. Her rent was pretty much fixed from 2005-2009, and the exact same place is now renting for $100 less than she was paying.
June 11, 2009 at 11:48 AM #414088ParticipantHow about rents just not going up?
I had a rental I got in 2006 that I just vacated in May. In total over those ~3 years my rent went up $25/month. I also know for a fact that they rerented it for the amount we were renting it for, so itll be ~4 years with a $25 rent increase. It wasnt over priced in 2006 compared to the market then either and isnt a craphole.
My Girlfriend had the same story. Her rent was pretty much fixed from 2005-2009, and the exact same place is now renting for $100 less than she was paying.
June 11, 2009 at 11:48 AM #414564ParticipantHow about rents just not going up?
I had a rental I got in 2006 that I just vacated in May. In total over those ~3 years my rent went up $25/month. I also know for a fact that they rerented it for the amount we were renting it for, so itll be ~4 years with a $25 rent increase. It wasnt over priced in 2006 compared to the market then either and isnt a craphole.
My Girlfriend had the same story. Her rent was pretty much fixed from 2005-2009, and the exact same place is now renting for $100 less than she was paying.
June 11, 2009 at 1:07 PM #414459kelly
ParticipantThat’s really interesting — landlords potentially gauging the situation with a “bird in the hand” perspective.
Any chance you’d let me print that perspective with your first and last name? Drop me a line if so, and I’ll give you a call.
At any rate, it’s interesting insight.
kbJune 11, 2009 at 1:07 PM #414391ParticipantThat’s really interesting — landlords potentially gauging the situation with a “bird in the hand” perspective.
Any chance you’d let me print that perspective with your first and last name? Drop me a line if so, and I’ll give you a call.
At any rate, it’s interesting insight.
kbJune 11, 2009 at 1:07 PM #414615ParticipantThat’s really interesting — landlords potentially gauging the situation with a “bird in the hand” perspective.
Any chance you’d let me print that perspective with your first and last name? Drop me a line if so, and I’ll give you a call.
At any rate, it’s interesting insight.
kbJune 11, 2009 at 1:07 PM #414139ParticipantThat’s really interesting — landlords potentially gauging the situation with a “bird in the hand” perspective.
Any chance you’d let me print that perspective with your first and last name? Drop me a line if so, and I’ll give you a call.
At any rate, it’s interesting insight.
kbJune 11, 2009 at 1:07 PM #413900ParticipantThat’s really interesting — landlords potentially gauging the situation with a “bird in the hand” perspective.
Any chance you’d let me print that perspective with your first and last name? Drop me a line if so, and I’ll give you a call.
At any rate, it’s interesting insight.
kbJune 11, 2009 at 1:15 PM #414144GoUSC
ParticipantI will tell you this. I had a conversation with an apartment developer who has built 50,000 units in SoCal and here is what he said. They are seeing SOME (ie minimal) pressure on rents, pressure on offering incentives (ie 1-2 months free), pressure on turn-over. NOT because of increased inventory on the market which he thinks is a red herring…that amount of homes being put on the market for rent is miniscule. It is because of two main factors:
1. People are densifying. Whereas before a guy who live alone, now he is getting 1 or 2 roommates to share in rent.
2. People are moving down the ladder. People who were living in downtown are now living in Mission Valley. People living in Mission Valley are now living in North Park or La Mesa. People living in North Park or La Mesa are now living in El Cajon. And so on and so forth.
He is saying there is actually a pressure on rents moving UP in the cheaper areas because more people are down-marketing.
June 11, 2009 at 1:15 PM #414620ParticipantI will tell you this. I had a conversation with an apartment developer who has built 50,000 units in SoCal and here is what he said. They are seeing SOME (ie minimal) pressure on rents, pressure on offering incentives (ie 1-2 months free), pressure on turn-over. NOT because of increased inventory on the market which he thinks is a red herring…that amount of homes being put on the market for rent is miniscule. It is because of two main factors:
1. People are densifying. Whereas before a guy who live alone, now he is getting 1 or 2 roommates to share in rent.
2. People are moving down the ladder. People who were living in downtown are now living in Mission Valley. People living in Mission Valley are now living in North Park or La Mesa. People living in North Park or La Mesa are now living in El Cajon. And so on and so forth.
He is saying there is actually a pressure on rents moving UP in the cheaper areas because more people are down-marketing.
June 11, 2009 at 1:15 PM #413905ParticipantI will tell you this. I had a conversation with an apartment developer who has built 50,000 units in SoCal and here is what he said. They are seeing SOME (ie minimal) pressure on rents, pressure on offering incentives (ie 1-2 months free), pressure on turn-over. NOT because of increased inventory on the market which he thinks is a red herring…that amount of homes being put on the market for rent is miniscule. It is because of two main factors:
1. People are densifying. Whereas before a guy who live alone, now he is getting 1 or 2 roommates to share in rent.
2. People are moving down the ladder. People who were living in downtown are now living in Mission Valley. People living in Mission Valley are now living in North Park or La Mesa. People living in North Park or La Mesa are now living in El Cajon. And so on and so forth.
He is saying there is actually a pressure on rents moving UP in the cheaper areas because more people are down-marketing.
June 11, 2009 at 1:15 PM #414396ParticipantI will tell you this. I had a conversation with an apartment developer who has built 50,000 units in SoCal and here is what he said. They are seeing SOME (ie minimal) pressure on rents, pressure on offering incentives (ie 1-2 months free), pressure on turn-over. NOT because of increased inventory on the market which he thinks is a red herring…that amount of homes being put on the market for rent is miniscule. It is because of two main factors:
1. People are densifying. Whereas before a guy who live alone, now he is getting 1 or 2 roommates to share in rent.
2. People are moving down the ladder. People who were living in downtown are now living in Mission Valley. People living in Mission Valley are now living in North Park or La Mesa. People living in North Park or La Mesa are now living in El Cajon. And so on and so forth.
He is saying there is actually a pressure on rents moving UP in the cheaper areas because more people are down-marketing.
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