Rental rises?!

[coxapple]

Just visiting CA after two years away . (Adjusting with difficulty to emasculation of my currency(£),) I note the rental market here in the Bay area (Hayward) in the context of the SF Shiller off 35% in last year and unemployment evident all around the area………

Rents are rising here !!!

Apartment renters asking for rent cuts are sent back with two fleas in their ear.

Is this an area of aberration, or are rents actually rising generally and hence helping rent to price ratios to rise.

[DWCAP]

As with everything else the changes will be scene at the margin, wherever demand is lowest. Rents in certain buildings may be going up, in others down, based on demand of people wanting to live there. Rents can go up in the best areas, even if they are falling overall.

Also most LL’s I know have a preset Excell sheet on how much rents should go up and when. This economic downturn is in no way reflected in this sheet. They will advertise their preset rent, get applicants for that rent (everybody has to live somewhere), and rent the place and then wonder why they got such problem tenants and so many headaches. Students, the un/under-employed, people with bad credit and/or no rental history pay more than better tenants for good reason. Generally speaking, they are worse tennants. I always laugh when the LL’s I know complain about their tenants, and yet 3 minutes on craigslist shows me they are viaing for the top of the market with middle market inventory. Gee, I wonder why that is causing problems.

[DWCAP]

As with everything else the changes will be scene at the margin, wherever demand is lowest. Rents in certain buildings may be going up, in others down, based on demand of people wanting to live there. Rents can go up in the best areas, even if they are falling overall.

Also most LL’s I know have a preset Excell sheet on how much rents should go up and when. This economic downturn is in no way reflected in this sheet. They will advertise their preset rent, get applicants for that rent (everybody has to live somewhere), and rent the place and then wonder why they got such problem tenants and so many headaches. Students, the un/under-employed, people with bad credit and/or no rental history pay more than better tenants for good reason. Generally speaking, they are worse tennants. I always laugh when the LL’s I know complain about their tenants, and yet 3 minutes on craigslist shows me they are viaing for the top of the market with middle market inventory. Gee, I wonder why that is causing problems.

[DWCAP]

As with everything else the changes will be scene at the margin, wherever demand is lowest. Rents in certain buildings may be going up, in others down, based on demand of people wanting to live there. Rents can go up in the best areas, even if they are falling overall.

Also most LL’s I know have a preset Excell sheet on how much rents should go up and when. This economic downturn is in no way reflected in this sheet. They will advertise their preset rent, get applicants for that rent (everybody has to live somewhere), and rent the place and then wonder why they got such problem tenants and so many headaches. Students, the un/under-employed, people with bad credit and/or no rental history pay more than better tenants for good reason. Generally speaking, they are worse tennants. I always laugh when the LL’s I know complain about their tenants, and yet 3 minutes on craigslist shows me they are viaing for the top of the market with middle market inventory. Gee, I wonder why that is causing problems.

[DWCAP]

As with everything else the changes will be scene at the margin, wherever demand is lowest. Rents in certain buildings may be going up, in others down, based on demand of people wanting to live there. Rents can go up in the best areas, even if they are falling overall.

Also most LL’s I know have a preset Excell sheet on how much rents should go up and when. This economic downturn is in no way reflected in this sheet. They will advertise their preset rent, get applicants for that rent (everybody has to live somewhere), and rent the place and then wonder why they got such problem tenants and so many headaches. Students, the un/under-employed, people with bad credit and/or no rental history pay more than better tenants for good reason. Generally speaking, they are worse tennants. I always laugh when the LL’s I know complain about their tenants, and yet 3 minutes on craigslist shows me they are viaing for the top of the market with middle market inventory. Gee, I wonder why that is causing problems.

[DWCAP]

As with everything else the changes will be scene at the margin, wherever demand is lowest. Rents in certain buildings may be going up, in others down, based on demand of people wanting to live there. Rents can go up in the best areas, even if they are falling overall.

Also most LL’s I know have a preset Excell sheet on how much rents should go up and when. This economic downturn is in no way reflected in this sheet. They will advertise their preset rent, get applicants for that rent (everybody has to live somewhere), and rent the place and then wonder why they got such problem tenants and so many headaches. Students, the un/under-employed, people with bad credit and/or no rental history pay more than better tenants for good reason. Generally speaking, they are worse tennants. I always laugh when the LL’s I know complain about their tenants, and yet 3 minutes on craigslist shows me they are viaing for the top of the market with middle market inventory. Gee, I wonder why that is causing problems.

[34f3f3f]

Welcome back! You’ve been missing out on all the fun. Rents in LA are going down as it’s getting harder to find tenants. There’s some good deals to be had on craigslist. Sterling has taken quite a bashing, almost on a par with the Euro now. UK real estate …great oaks do grow, dragging down the little acorns with them.

[34f3f3f]

Welcome back! You’ve been missing out on all the fun. Rents in LA are going down as it’s getting harder to find tenants. There’s some good deals to be had on craigslist. Sterling has taken quite a bashing, almost on a par with the Euro now. UK real estate …great oaks do grow, dragging down the little acorns with them.

[34f3f3f]

Welcome back! You’ve been missing out on all the fun. Rents in LA are going down as it’s getting harder to find tenants. There’s some good deals to be had on craigslist. Sterling has taken quite a bashing, almost on a par with the Euro now. UK real estate …great oaks do grow, dragging down the little acorns with them.

[34f3f3f]

Welcome back! You’ve been missing out on all the fun. Rents in LA are going down as it’s getting harder to find tenants. There’s some good deals to be had on craigslist. Sterling has taken quite a bashing, almost on a par with the Euro now. UK real estate …great oaks do grow, dragging down the little acorns with them.

[34f3f3f]

Welcome back! You’ve been missing out on all the fun. Rents in LA are going down as it’s getting harder to find tenants. There’s some good deals to be had on craigslist. Sterling has taken quite a bashing, almost on a par with the Euro now. UK real estate …great oaks do grow, dragging down the little acorns with them.

[partypup]

The situation is quite the opposite in West LA. My assistant and his partner currently pay $3,650 for a townhome in West Hollywood. Their lease ends next month. Their landlord came to them, begging them to stay. They had been planning to move anyway, so they asked for aggressive reduction: $2,500/month with no lease. The landlord’s counter: $2,500 with a 6 mos lease.

So they are renewing and saving $1000/month.

My landlord came shopping around a couple of weeks ago (our lease expires at the end of May). He wasn’t begging, but it was VERY clear that he wanted us to re-up for another year. He kept calling us “good tenants” and a pleasure to have. We plan to ask for a reduction – just a few hundred dollars.

[partypup]

The situation is quite the opposite in West LA. My assistant and his partner currently pay $3,650 for a townhome in West Hollywood. Their lease ends next month. Their landlord came to them, begging them to stay. They had been planning to move anyway, so they asked for aggressive reduction: $2,500/month with no lease. The landlord’s counter: $2,500 with a 6 mos lease.

So they are renewing and saving $1000/month.

My landlord came shopping around a couple of weeks ago (our lease expires at the end of May). He wasn’t begging, but it was VERY clear that he wanted us to re-up for another year. He kept calling us “good tenants” and a pleasure to have. We plan to ask for a reduction – just a few hundred dollars.

[partypup]

The situation is quite the opposite in West LA. My assistant and his partner currently pay $3,650 for a townhome in West Hollywood. Their lease ends next month. Their landlord came to them, begging them to stay. They had been planning to move anyway, so they asked for aggressive reduction: $2,500/month with no lease. The landlord’s counter: $2,500 with a 6 mos lease.

So they are renewing and saving $1000/month.

My landlord came shopping around a couple of weeks ago (our lease expires at the end of May). He wasn’t begging, but it was VERY clear that he wanted us to re-up for another year. He kept calling us “good tenants” and a pleasure to have. We plan to ask for a reduction – just a few hundred dollars.

[partypup]

The situation is quite the opposite in West LA. My assistant and his partner currently pay $3,650 for a townhome in West Hollywood. Their lease ends next month. Their landlord came to them, begging them to stay. They had been planning to move anyway, so they asked for aggressive reduction: $2,500/month with no lease. The landlord’s counter: $2,500 with a 6 mos lease.

So they are renewing and saving $1000/month.

My landlord came shopping around a couple of weeks ago (our lease expires at the end of May). He wasn’t begging, but it was VERY clear that he wanted us to re-up for another year. He kept calling us “good tenants” and a pleasure to have. We plan to ask for a reduction – just a few hundred dollars.

[Author]

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