Can IAC offer different incentives to new tennants vs current tennants????

NEW -> Contingent Buyer Assistance Program
I am so lame totally forgot about this rule. People before you pick a place find someone on this board to split it with you. Most are $500 referrals and most are cool to split. Were all friends right??? You need the persons name apt number and I would get cell just in case. We should have a board just for this.

Worse case if you pick rent.com on the form you fill out you can go to the site and get $100 back...



[quote author="usctrojanman29" date=1236727776][quote author="wendyinoc" date=1236720680]I know that why its so hard to work with these people. We signed for a place at Quail last night for 1670 versus 2360 which is what I paid now. A $790 savings!! Take that IAC!! If the market keeps falling we can go back to the Village at a lower price.

For the person interested in moving to the Village they are offering 1500 first month plus 100 off the rent if you sign 16. If you take the deal you can't upgrade or move for 16 so be careful.</blockquote>
Awww, you should have hit we me up....I live over at Quail Meadows, we could have split the $500 tenant referral bonus.



On a side note, when I first moved to Quail Meadow I got the 1-bed + 1-den for $1,660/month. I really wasn't using the den so I moved to the 1-bed within 4-weeks and am paying $1,420/month. Man, I looked on craigslist and they are now offering that 1-bed and 1-den unit for $1,510 with a 16-month lease.</blockquote>
 
Why go to the sticks when Woodbury has 7 complexes. Two are brand new and pretty nice. The new ones are giving better incentives as well. We went and checked our Miravol and it was really upgraded. I think the two bedroom was 1875-2100.

[quote author="bltserv" date=1236755318]Started Internet Shopping today for another IAC Apartment.

I got some incentive after reading WendyInOC`s post about moving from the Village to Quail.

Anybody have first hand experience with Portola Place ? Looks like its out in the weeds.</blockquote>
 
Interesting post fromhttp://www.irvinehousingblog.com/blog/comments/real-estates-lost-decade/pasted below ...



Astute Observation by Jeff H

2009-03-23 06:14 AM

Hello IR,

An update on rents. We live in a large Irvine Company complex in the 92606 zip code. We lease a 2 bdr, 2.5 bath town home. Our lease is up for renewal and the IAC provided a term sheet this weekend.



Our monthly lease payment was reduced by 6.5%. This takes next year?s payment to $50 below what we paid when we moved there in 2006. They are offering 12 - 18 month lease options. If you choose an 18 month, they will enter your name in a drawing for up to 3 free months rent. 10 lucky winners IAC-wide.



We appreciate the Irvine Co doing their homework and taking an educated guess at what it would cost us to move. We could probably get more space and a SFR for a few hundred bucks more a month. However, by the time one throws in moving expenses and the hassle of vetting the owner, we will most likely stay put.



If we need more space or a move, our contract allows us to break the lease for one month?s rent. We will cross that bridge when we come to it.



Reply to this astute observation
 
[quote author="bltserv" date=1236755318]Started Internet Shopping today for another IAC Apartment.

I got some incentive after reading WendyInOC`s post about moving from the Village to Quail.

Anybody have first hand experience with Portola Place ? Looks like its out in the weeds.</blockquote>


I never been in the gates but I have been there to PS plenty of times. Its not as far out there since you can fly on Portola and Sand Canyon. But like others have said I would pick Woodbury unless you have a large dog (50 lbs or more). Thats the only positive I see about Portola Place that sets it apart from most IAC complexes. You should really drive out there to see if you can handle the distance. You definetly won't be within walking distance of any shopping centers.
 
For those IAC renters at Quail Hill: How bad is the sound you hear from the freeway? I remember in Oak Creek, the noise was just a low murmur and those units were further way distance wise from the traffic. Thanks in advance.
 
[quote author="???" date=1237852001]For those IAC renters at Quail Hill: How bad is the sound you hear from the freeway? I remember in Oak Creek, the noise was just a low murmur and those units were further way distance wise from the traffic. Thanks in advance.</blockquote>


Depends on what unit you have. We have one of the worst for noise (ie. open master bathroom window is directly on the 405), at night you have to shut the bathroom door to sleep and it's fine. Bathroom windows are single paned, unlike all the other windows, so the traffic noise is more.

Right now, I am on the 2nd floor, all doors and windows shut, I can hear it a little (slight drone), but it doesn't bother me, I usually don't even notice it. I seem better than others at ignoring noises though.



Just go walk though the neighborhood yourself when the traffic is going fast (ie. not rush hour - can't hear it creeping), and see for yourself.
 
Anyone see the new specials in the village?



12 month lease 7% off market rate + 750 off first month. They are starting to get desperate.



And they wont even offer me close to that discount. I pay 2760/month and they came back with 2640 for 16 month lease (BTW: Current market rate for my unit is 2690).



So for a new tenant they would get $2500/month for 12 months lease +750 off first month for which if you accrue through 12 months would bring the rent to $2437.



That's 200 less then what they offered plus only 12 months versus the 16 months they offered to me.



FU IAC and the village.
 
[quote author="???" date=1237852001]For those IAC renters at Quail Hill: How bad is the sound you hear from the freeway? I remember in Oak Creek, the noise was just a low murmur and those units were further way distance wise from the traffic. Thanks in advance.</blockquote>


I am in Quail Ridge. I am on the bottom floor. Unless your outside. 405 Noise is almost a zero. Those power lines crackle a bit when its wet out. But my biggest gripe is the low quality insulation between floors. You can hear every step above you.
 
[quote author="rick_r" date=1237859604]Anyone see the new specials in the village?



12 month lease 7% off market rate + 750 off first month. They are starting to get desperate.



And they wont even offer me close to that discount. I pay 2760/month and they came back with 2640 for 16 month lease (BTW: Current market rate for my unit is 2690).



So for a new tenant they would get $2500/month for 12 months lease +750 off first month for which if you accrue through 12 months would bring the rent to $2437.



That's 200 less then what they offered plus only 12 months versus the 16 months they offered to me.



FU IAC and the village.</blockquote>


Just wait till this fall when the new "Park" at the Spectrum hits the rental market.



<a href="http://www.mve-architects.com/portfolio/pr/231_The-Park-at-Irvine-Spectrum">http://www.mve-architects.com/portfolio/pr/231_The-Park-at-Irvine-Spectrum</a>



Your looking at another 1500 Rental Units hitting the IAC in that neighborhood.

Its going to have more density than the Village. Pack them in like sardines

to keep that cash flowing. Somehow I just dont see how a development like this

is going to rent out in the current economic enviroment. And you wonder why they want you in a long term lease ? They see the approaching economy and the fact that rents will collapse. I would guess around 20% before all is said and done in the next year. Way too much supply in Irvine. And its getting way worse with this complex getting completed.
 
[quote author="rick_r" date=1237859604]Anyone see the new specials in the village?



12 month lease 7% off market rate + 750 off first month. They are starting to get desperate.



And they wont even offer me close to that discount. I pay 2760/month and they came back with 2640 for 16 month lease (BTW: Current market rate for my unit is 2690).



So for a new tenant they would get $2500/month for 12 months lease +750 off first month for which if you accrue through 12 months would bring the rent to $2437.



That's 200 less then what they offered plus only 12 months versus the 16 months they offered to me.



FU IAC and the village.</blockquote>


i just signed a 13 month lease in the Village for a 4th floor 2bdr/2ba 1050 sqft in serena (plan 33) for 2085 after all the discounts got applied.
 
[quote author="bltserv" date=1237865586][quote author="rick_r" date=1237859604]Anyone see the new specials in the village?



12 month lease 7% off market rate + 750 off first month. They are starting to get desperate.



And they wont even offer me close to that discount. I pay 2760/month and they came back with 2640 for 16 month lease (BTW: Current market rate for my unit is 2690).



So for a new tenant they would get $2500/month for 12 months lease +750 off first month for which if you accrue through 12 months would bring the rent to $2437.



That's 200 less then what they offered plus only 12 months versus the 16 months they offered to me.



FU IAC and the village.</blockquote>


Just wait till this fall when the new "Park" at the Spectrum hits the rental market.



<a href="http://www.mve-architects.com/portfolio/pr/231_The-Park-at-Irvine-Spectrum">http://www.mve-architects.com/portfolio/pr/231_The-Park-at-Irvine-Spectrum</a>



Your looking at another 1500 Rental Units hitting the IAC in that neighborhood.

Its going to have more density than the Village. Pack them in like sardines

to keep that cash flowing. Somehow I just dont see how a development like this

is going to rent out in the current economic enviroment. And you wonder why they want you in a long term lease ? They see the approaching economy and the fact that rents will collapse. I would guess around 20% before all is said and done in the next year. Way too much supply in Irvine. And its getting way worse with this complex getting completed.</blockquote>
That's a great thing since my lease expires 10/31/09.
 
I don't know if anyone has checked out IAC's rental-living.com website, but it looks like they have done the inevitable...they have cut the market rate on the rents. For example, the unit that I'm living in went from $1,550-$1,570 to $1,440-$1,460. I'm beginning to see more and more vacant units at Quail Meadows.



Also, they are offering 6 weeks of free rent on 16-18 month leases at Enclave (in Costa Mesa by South Coast Plaza).
 
[quote author="usctrojanman29" date=1238069663]I don't know if anyone has checked out IAC's rental-living.com website, but it looks like they have done the inevitable...they have cut the market rate on the rents. For example, the unit that I'm living in went from $1,550-$1,570 to $1,440-$1,460. I'm beginning to see more and more vacant units at Quail Meadows.



Also, they are offering 6 weeks of free rent on 16-18 month leases at Enclave (in Costa Mesa by South Coast Plaza).</blockquote>


I'm looking at Quail Meadows and Quail Ridge side by side, don't get the difference in pricing. For instance, there is an 1164 sq. ft. townhouse suitable for a cat available at both locations in late April, but the Quail Ridge one is $2,345 and the Quail Meadow one is $2,175. Are the units really that different?





http://rental-living.com/Communities/Quail-Ridge/Prices-And-Floorplans/



http://rental-living.com/Communities/Quail-Meadow/Prices-And-Floorplans/
 
[quote author="Anonymous" date=1238075445][quote author="usctrojanman29" date=1238069663]I don't know if anyone has checked out IAC's rental-living.com website, but it looks like they have done the inevitable...they have cut the market rate on the rents. For example, the unit that I'm living in went from $1,550-$1,570 to $1,440-$1,460. I'm beginning to see more and more vacant units at Quail Meadows.



Also, they are offering 6 weeks of free rent on 16-18 month leases at Enclave (in Costa Mesa by South Coast Plaza).</blockquote>


I'm looking at Quail Meadows and Quail Ridge side by side, don't get the difference in pricing. For instance, there is an 1164 sq. ft. townhouse suitable for a cat available at both locations in late April, but the Quail Ridge one is $2,345 and the Quail Meadow one is $2,175. Are the units really that different?





http://rental-living.com/Communities/Quail-Ridge/Prices-And-Floorplans/



http://rental-living.com/Communities/Quail-Meadow/Prices-And-Floorplans/</blockquote>
Same floor plan but the Quail Ridge apartments are more upgraded....they have hardwood floor, granite countertops, and two-tone paint.
 
I'm still paying $2000 for my rent at Woodbury Lane. The end of the lease is coming up, though. I havent responded to their friendly little "lets talk" letter. I'm going to be moving out in 5 months, so I'm not too keen on these behavioral patterns that I'm reading about... with hiking up the month-to-month rate.



I dont know if woodbury lane is getting fewer or increased renters. The parking still sucks. It was better a couple of months ago, but it seems like that trend is over. I wonder if the people who are being kicked out of their houses are moving into the nicer apts in the nicer areas? (still affordable compared to their old mortgage).
 
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