Rental rises?!

[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.

[luchabee]

We are still renting, looking for a place now in Orange County instead of the Inland Empire. Anyway, we were visiting a large apartment complex in the Irvine area over the weekend, and I overheard the leasing agent speaking to a current renter. The current renter had just told her that he/she had lost their job. Without much hesitation or thinking, the leasing agent told them they would lower their rent to $1,000 per month with proof of the termination. Given that we were just there for a few minutes and that the agent didn’t seemed surprised, I believe that this must be happening a lot and they are getting a lot of calls. Rents do seem cheaper from about a year ago, with one bedroom units with an extra den in the nicer Irvine/Tustin areas going for about $1,600 now, fyi.

[luchabee]

We are still renting, looking for a place now in Orange County instead of the Inland Empire. Anyway, we were visiting a large apartment complex in the Irvine area over the weekend, and I overheard the leasing agent speaking to a current renter. The current renter had just told her that he/she had lost their job. Without much hesitation or thinking, the leasing agent told them they would lower their rent to $1,000 per month with proof of the termination. Given that we were just there for a few minutes and that the agent didn’t seemed surprised, I believe that this must be happening a lot and they are getting a lot of calls. Rents do seem cheaper from about a year ago, with one bedroom units with an extra den in the nicer Irvine/Tustin areas going for about $1,600 now, fyi.

[luchabee]

We are still renting, looking for a place now in Orange County instead of the Inland Empire. Anyway, we were visiting a large apartment complex in the Irvine area over the weekend, and I overheard the leasing agent speaking to a current renter. The current renter had just told her that he/she had lost their job. Without much hesitation or thinking, the leasing agent told them they would lower their rent to $1,000 per month with proof of the termination. Given that we were just there for a few minutes and that the agent didn’t seemed surprised, I believe that this must be happening a lot and they are getting a lot of calls. Rents do seem cheaper from about a year ago, with one bedroom units with an extra den in the nicer Irvine/Tustin areas going for about $1,600 now, fyi.

[luchabee]

We are still renting, looking for a place now in Orange County instead of the Inland Empire. Anyway, we were visiting a large apartment complex in the Irvine area over the weekend, and I overheard the leasing agent speaking to a current renter. The current renter had just told her that he/she had lost their job. Without much hesitation or thinking, the leasing agent told them they would lower their rent to $1,000 per month with proof of the termination. Given that we were just there for a few minutes and that the agent didn’t seemed surprised, I believe that this must be happening a lot and they are getting a lot of calls. Rents do seem cheaper from about a year ago, with one bedroom units with an extra den in the nicer Irvine/Tustin areas going for about $1,600 now, fyi.

[luchabee]

We are still renting, looking for a place now in Orange County instead of the Inland Empire. Anyway, we were visiting a large apartment complex in the Irvine area over the weekend, and I overheard the leasing agent speaking to a current renter. The current renter had just told her that he/she had lost their job. Without much hesitation or thinking, the leasing agent told them they would lower their rent to $1,000 per month with proof of the termination. Given that we were just there for a few minutes and that the agent didn’t seemed surprised, I believe that this must be happening a lot and they are getting a lot of calls. Rents do seem cheaper from about a year ago, with one bedroom units with an extra den in the nicer Irvine/Tustin areas going for about $1,600 now, fyi.

[dbapig]

3 unoccupied apts in 50 unit apt complex. Near 405 and West LA. Been here 2 yrs and never saw 3 apts remain unoccupied for so long. About 3 – 5 months I think. They posted sign last month near mailbox offering to pay referral fee for bringing in renters.

[dbapig]

3 unoccupied apts in 50 unit apt complex. Near 405 and West LA. Been here 2 yrs and never saw 3 apts remain unoccupied for so long. About 3 – 5 months I think. They posted sign last month near mailbox offering to pay referral fee for bringing in renters.

[dbapig]

3 unoccupied apts in 50 unit apt complex. Near 405 and West LA. Been here 2 yrs and never saw 3 apts remain unoccupied for so long. About 3 – 5 months I think. They posted sign last month near mailbox offering to pay referral fee for bringing in renters.

[dbapig]

3 unoccupied apts in 50 unit apt complex. Near 405 and West LA. Been here 2 yrs and never saw 3 apts remain unoccupied for so long. About 3 – 5 months I think. They posted sign last month near mailbox offering to pay referral fee for bringing in renters.

[dbapig]

3 unoccupied apts in 50 unit apt complex. Near 405 and West LA. Been here 2 yrs and never saw 3 apts remain unoccupied for so long. About 3 – 5 months I think. They posted sign last month near mailbox offering to pay referral fee for bringing in renters.

[patientrenter]

LLs are clearly offering special deals in an attempt to prevent the general rental price from going down. But let’s suppose for a second that rents became 20% over-inflated from their supportable levels, as a bleed-in from the 300-400% home price inflation since 1995. Then general rents will have to come down by 20%. How long would that take? If every 2% decrease in the general, public, rental prices is painfully slow, preceded by ever-greater discounts to ever-greater numbers of “special” cases, then it could take many years.

[patientrenter]

LLs are clearly offering special deals in an attempt to prevent the general rental price from going down. But let’s suppose for a second that rents became 20% over-inflated from their supportable levels, as a bleed-in from the 300-400% home price inflation since 1995. Then general rents will have to come down by 20%. How long would that take? If every 2% decrease in the general, public, rental prices is painfully slow, preceded by ever-greater discounts to ever-greater numbers of “special” cases, then it could take many years.

[patientrenter]

LLs are clearly offering special deals in an attempt to prevent the general rental price from going down. But let’s suppose for a second that rents became 20% over-inflated from their supportable levels, as a bleed-in from the 300-400% home price inflation since 1995. Then general rents will have to come down by 20%. How long would that take? If every 2% decrease in the general, public, rental prices is painfully slow, preceded by ever-greater discounts to ever-greater numbers of “special” cases, then it could take many years.

[patientrenter]

LLs are clearly offering special deals in an attempt to prevent the general rental price from going down. But let’s suppose for a second that rents became 20% over-inflated from their supportable levels, as a bleed-in from the 300-400% home price inflation since 1995. Then general rents will have to come down by 20%. How long would that take? If every 2% decrease in the general, public, rental prices is painfully slow, preceded by ever-greater discounts to ever-greater numbers of “special” cases, then it could take many years.

[Author]

Posts