Unless you’re planning to move to a new rental unit, I don’t think it’ll affect you that much even if you’re on a 1 yr lease rather than 2 yrs. I think that most smart landlord knows that good tenants are hard to find, and when they got one, they would rather either keep rents the same or bump it just a little. They don’t want to upset you and force you to leave. If you leave, they almost have 1 month of no rent. If you’re talking about $2k/month rent, that’s almost like losing $200/month in rent. Also, they’ll be risking getting a not so good tenant. So, I’m not too worried. Also, if you look at it, rent of SFR is still much cheaper $/sq-ft compare to apartments. But rents are based solely on income, so rent can only rise so much before they top out, or our income will rise along with it.
My personal experience is that yes, I’ve been to open house for rental that have 5-6 couples chasing after it. I end up getting a 1600+sq-ft townhouse that’s 5 minute from work for both me and my wife at around $1.3/sq-ft in Sorrento Valley. Other units around me rent for around $1.35-$1.4/sq-ft and mine was listed for $1.5/sq-ft. So, good deal can still be had if you bargain and have the credit score, cash to back up your bargain.
