5 ms·
I live in the Bay Area and this has not been my experience. Looking at Craigslist and Zillow the rents are stable. Perhaps the rate of increase has slowed down
by asimjalis 6y ago
I live in the Bay Area and this has not been my experience. Looking at Craigslist and Zillow the rents are stable. Perhaps the rate of increase has slowed down slightly. That is all.
- xenihn 6y agoAre you in SF? I just left a place where the landlord wasn't able to find anyone to replace me with two months notice and a 20% reduction. Lots of places aren't reducing the monthly rate outright, but are giving 1-2 months free. So a $3100 rate would actually be $2841 or $2583. This benefits them because it affects property valuation. There's other factors involved too, but this seems like the primary one.
- AnotherGoodName 6y agoYeah as i stated above if you're actually looking call them up and they'll suggest 1-2months free. Source: I'm looking right now and pretty much everyone will say yes to 1 or 2 months free. They just don't want to drop their listed prices. Perhaps to avoid renewals in the same complex citing the lower prices and negotiating or perhaps to avoid rent controls locking in rates when this ends.
- bradlys 6y agoAre you looking mostly at large apartment complexes? This is not the case with single family homes for rent - as far as I can tell. The single family homes and in-law units are vanishing as fast as they ever have in the desirable areas.
- AnotherGoodName 6y agoYes. Also i think you're right there. Everyone's moving out from the more central areas to houses in the suburbs.
- jameshawkins 6y agoAgreed. I (unluckily) signed a new lease in March, not thinking this was going to go on for quite so long. Before I actually moved in, I was able to negotiate a free month, but it looks like my building is now offering 6-8 free weeks, but the base rent hasn't actually changed.