If you would sign a lease right now how long?

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wendyinoc_IHB

wendyinoc_IHB

New member
I really want to buy a house but due to this board I just have to wait. So how long of a lease should I get since its up in Sept? I live in IAC so I can always upgrade but what kind of lease should I get? They longest is till 12-08.
 
<p>I actually have thought a lot about this. If massive foreclosures occur, there will be a gap between the eviction of the homeowner and reoccupation by either a renter or new owner. People still need a place to live however. I think this will raise the demand for rental units, which will increase the price. As things get worse, a large crunch in rental availability could occur until those foreclosed homes make it back into the market. I consulted with someone I trust on the subject and they think this will be a temporary situation at best. I think he's being optomistic, but no one can be sure until it plays out.</p>

<p>In the meantime, I sent emails out to my renting friends living in SoCal. I explained the situation and advised them to lock in the lowest rent they can get for the longest term to protect themselves from any spikes in rental prices, temporary or not.</p>
 
Rentals around here got tight in the spring and have loosened a lot since then. I could now rent a small SFR for what we're paying for a 2/2 condo. I have not seen the rental spike that everyone says is happening here.
 
Again, I have to stress the "if massive foreclosures occur". So far, I haven't seen anything suggesting Irvine is the new San Diego.
 
<em>"So far, I haven't seen anything suggesting Irvine is the new San Diego. "</em>





Have you seen anything suggesting it is not? I haven't.
 
wendyinoc - We signed a lease for one year. The year is up this month, and I was concerned that our landlord was going to raise our rent. Our landlord called and asked if we wanted to sign another one year lease. I asked if at the same monthly rent and he said yes. We signed for another year. I can't speak for all landlords, but they do seem to want their tenant to stay if that tenant pays on time and doesn't cause any trouble.
 
<p>wendyinoc,</p>

<p>I would go with the cheapest lease I can get now and expect to pay a lease break when you get your killer deal. It's almost impossible to sync. Moreover, landlord does not want a turn-over in exchange for higher rent.</p>
 
<p>IR,</p>

<p>I meant that foreclosures weren't high enough yet, not that they weren't coming. As with all things financial these days, the lack of information hampers any handicapping.</p>
 
Any way you can do a month to month? Our lease ended in May and we asked for a month to month and there was no increase in rent.
 
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