rent keeps going up and up

[CostaMesa]

It is the company that is raising the rent.

There’s your answer. Not really surprising once there’s the layer of a storefront that is added between you and the person making the decisions about what you’ll be paying.

[Alex_angel]

agree. Shopping around is not an option right now. I was hoping the market implodes quicker than planned so I can buy and leave. Waiting on the fence for the right price to roll through. This housing market is like a puppet and week after week strings are getting cut and soon the puppet will be laying facedown for the count.

[Alex_angel]

agree. Shopping around is not an option right now. I was hoping the market implodes quicker than planned so I can buy and leave. Waiting on the fence for the right price to roll through. This housing market is like a puppet and week after week strings are getting cut and soon the puppet will be laying facedown for the count.

[ibjames]

My landlord has many houses/apts in the PB/north pb area. He takes pride in not raising rent. He has some tenants that have been renting with him over 8 years, and they are getting steals for rent. All he asks if he does this, that you treat the place nicely. I refer all of my friends because of it. He’s rented 3 more places from my referrels.

[ibjames]

My landlord has many houses/apts in the PB/north pb area. He takes pride in not raising rent. He has some tenants that have been renting with him over 8 years, and they are getting steals for rent. All he asks if he does this, that you treat the place nicely. I refer all of my friends because of it. He’s rented 3 more places from my referrels.

[no_such_reality]

Companies will do that. They know that if they raise rent on 100 people $100, that only two or three will leave because of it. Since they’re big, they’ll re-rent the place in a month because they are the default choice for everybody that is “too busy” or “has to move right now”.

At least, that’s how it’s going to go until vacancy gets back to reasonable levels.

[no_such_reality]

Companies will do that. They know that if they raise rent on 100 people $100, that only two or three will leave because of it. Since they’re big, they’ll re-rent the place in a month because they are the default choice for everybody that is “too busy” or “has to move right now”.

At least, that’s how it’s going to go until vacancy gets back to reasonable levels.

[(former)FormerSanDiegan]

n_s_r nailed it. A complex with hundred of units can do this. An owner with 1 or 2 properties knows that a 1 month vacancy equals 8% of the annual rent. Not worth it for the small guy to raise rent by 5% if it causes a vacancy.

[(former)FormerSanDiegan]

n_s_r nailed it. A complex with hundred of units can do this. An owner with 1 or 2 properties knows that a 1 month vacancy equals 8% of the annual rent. Not worth it for the small guy to raise rent by 5% if it causes a vacancy.

[blue_sky]

I negotiate with my rental company (Equity Residential) successfully every time. Vacancy rates in San Diego are VERY HIGH, don’t let them lie to you about it. I always show up with the rental contract of the place I’m going to be moving to when I cancel with them and they cave.

http://www.signonsandiego.com/uniontrib/20070607/news_1b7rents.html

5.1% is huge vacancy.

[blue_sky]

I negotiate with my rental company (Equity Residential) successfully every time. Vacancy rates in San Diego are VERY HIGH, don’t let them lie to you about it. I always show up with the rental contract of the place I’m going to be moving to when I cancel with them and they cave.

http://www.signonsandiego.com/uniontrib/20070607/news_1b7rents.html

5.1% is huge vacancy.

[an]

I completely agree with blue_sky. I did the same thing when I rented in an apartment. I negotiated and always got it down much lower than the original amount. Usually, they wanted, $100 raise, I told them I was a good tenant, always pay on time, and no complains. I walk out w/ a $20-25 raise in rent instead. Everything is negotiable, remember that.

[an]

I completely agree with blue_sky. I did the same thing when I rented in an apartment. I negotiated and always got it down much lower than the original amount. Usually, they wanted, $100 raise, I told them I was a good tenant, always pay on time, and no complains. I walk out w/ a $20-25 raise in rent instead. Everything is negotiable, remember that.

[blue_sky]

As a landlord I have a natural advantage in these negotiations btw, I know how much of a pain it’s going to be for them to turn over the appt 🙂

* Move out checkup labor
* Cleaning, patch jobs, new paint, carpet cleaning, etc. Normal wear and tear still needs to be fixed even though they don’t get to keep your damage deposit for it.
* Cost of obtaining new tenant (for large complexes this is typically 1 free month rent with year lease).
* New tenant risk

Overall cost of turning over an appt from a seasoned tenant to a green one can be > $2,000.

[blue_sky]

As a landlord I have a natural advantage in these negotiations btw, I know how much of a pain it’s going to be for them to turn over the appt 🙂

* Move out checkup labor
* Cleaning, patch jobs, new paint, carpet cleaning, etc. Normal wear and tear still needs to be fixed even though they don’t get to keep your damage deposit for it.
* Cost of obtaining new tenant (for large complexes this is typically 1 free month rent with year lease).
* New tenant risk

Overall cost of turning over an appt from a seasoned tenant to a green one can be > $2,000.

[Author]

Posts