apartment search not IAC

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John.Doe_IHB

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Hi, it has been quite a while since my last post, but I am still a regular reader of the blog.



Well, my lease is up and as I am getting slowly serious about buying something so I do not want to sign up with the IAC for another long lease term with a high lease break penalty nor do I want to pay the ridiculous month to month premiums - I want to move out and I am now struggeling to find an alternative.

It does not need to be in Irvine, I work in Orange (close to the Honda Center), so everything in a 10-15 miles range would be OK. I hope someone can suggest an appartment complex/community to me as most of us are probably renters ;) What I am looking for is a small studio or one bedroom with a reasonable price, an acceptable lease break fee (e.g. a month of rent penalty or so). If I check apartmentratings.com the first that pop up are in Garden Grove a little bit south and west of The Block in Orange, I just don't know the area very well, so I have no clue if that would be OK.



Alex



PS: I hope this is the right place to post this, it did not seem to fit in the general part and there is a lot of apartment talk in this part of the forum...
 
[quote author="John.Doe" date=1245893412]Hi, it has been quite a while since my last post, but I am still a regular reader of the blog.



Well, my lease is up and as I am getting slowly serious about buying something so I do not want to sign up with the IAC for another long lease term with a high lease break penalty nor do I want to pay the ridiculous month to month premiums - I want to move out and I am now struggeling to find an alternative.

It does not need to be in Irvine, I work in Orange (close to the Honda Center), so everything in a 10-15 miles range would be OK. I hope someone can suggest an appartment complex/community to me as most of us are probably renters ;) What I am looking for is a small studio or one bedroom with a reasonable price, an acceptable lease break fee (e.g. a month of rent penalty or so). If I check apartmentratings.com the first that pop up are in Garden Grove a little bit south and west of The Block in Orange, I just don't know the area very well, so I have no clue if that would be OK.



Alex



PS: I hope this is the right place to post this, it did not seem to fit in the general part and there is a lot of apartment talk in this part of the forum...</blockquote>
Alex - send me a PM with your parameters and e-mail address and I'll send you MLS rental listings that meet your requirements if you are open to a private rental property. One place where you may want to look is at those new apartments built off of Chapman just East of the 57 by State College (I can't recall the names).
 
You can try the newer apartments as USC suggests. But it's been my experience that when a complex is finished and begins lease up, they almost always are looking to secure long term leases without lease break fees (to stabilize the property).



You will likely have more luck with private rentals and older apartments. Craigslist is a good spot to troll.
 
Have you checked out all the new condos/apts around the Honda center and Angel stadium? They were all supposed to be condos...but are now all being leased out.
 
Looks like IAC changed its terms on lease break. We just signed up for a 12 month lease and they said there's no lease break fee if you buy a house and move out.
 
[quote author="waiting08" date=1246974583]Looks like IAC changed its terms on lease break. We just signed up for a 12 month lease and they said there's no lease break fee if you buy a house and move out.</blockquote>


Buy in Woodbury East! It is what you were meant to do. Not only is it close, but not really, to rental parity, but you don't want to be a lowly renter for the rest of your life. You don't even have to pay a fee to break your lease, if you buy one of <em>our</em> homes that we [strike]are desperate[/strike] want to sell.



I smell a marketing campaign here, can you?
 
[quote author="waiting08" date=1246974583]Looks like IAC changed its terms on lease break. We just signed up for a 12 month lease and they said there's no lease break fee if you buy a house and move out.</blockquote>


I assume the "buy a house" lease break exclusion only applies to a new house from TIC, correct?
 
[quote author="graphrix" date=1246980689][quote author="waiting08" date=1246974583]Looks like IAC changed its terms on lease break. We just signed up for a 12 month lease and they said there's no lease break fee if you buy a house and move out.</blockquote>


Buy in Woodbury East! It is what you were meant to do. Not only is it close, but not really, to rental parity, but you don't want to be a lowly renter for the rest of your life. You don't even have to pay a fee to break your lease, if you buy one of <em>our</em> homes that we [strike]are desperate[/strike] want to sell.



I smell a marketing campaign here, can you?</blockquote>


That's actually quite a smart plan by Bren. Creative, too.
 
I am not sure of the details, we haven't actually signed the papers, just put a holding deposit, lease starts end of this month. I can give you an update at that time.



We were planning to get a shorter lease this time as our plans for next year are kind of fluid. We asked about the lease breakage and the leasing person said if you buy a house there is no lease breakage, since she said "a house", I just assumed it is a house anywhere. Also there is a reduced lease breakage if you are moving out due to a job transfer, I think it's 1000 less than the normal fee. Didn't ask about the job loss scenario. :)
 
[quote author="IrvineRenter" date=1247004331][quote author="waiting08" date=1246974583]Looks like IAC changed its terms on lease break. We just signed up for a 12 month lease and they said there's no lease break fee if you buy a house and move out.</blockquote>


I assume the "buy a house" lease break exclusion only applies to a new house from TIC, correct?</blockquote>


I don't think this is a new idea. I was told the same thing a year ago when I moved into my IAC... yes, just when you buy a new construction from TIC is what I was told. Also, when I visited a new construction from TIC, the salesperson said they would take care of the lease break fee. (Also, same idea applied when I was thinking of renting in Foothill Ranch over a year ago... the leasing consultant said if we bought from their affiliated builder, there would be no lease break fee.)
 
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