Lesser Known IAC policies that they might not honor?

NEW -> Contingent Buyer Assistance Program

cboy168_IHB

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Hopefully you won't have to login to see these:



Long term renters appreciation:



http://myrental-living.com/assets/general/ResidencyAppreciationProgram.PDF



The important text of the pdf:



<pre class="code">LENGTH OF RESIDENCY DISCOUNT OFF MARKET RENT

2 years 3%

3 years 4%

4 years 5%

5 or more years 6%

</pre>

And then the 48 hour maintenance guarantee taken fromhttps://myrental-living.com/maintenance-form.aspx:

(If you aren't logged into the myrental-living site, the link will take you to the homepage, just browse as a guest, choose any community, click on maintenance request and the submit new request and scroll to the very bottom for the verbage)



48-Hour Maintenance Guarantee

We guarantee to respond to any routine maintenance request within 48 hours (two working days) from the time the written maintenance request is submitted, or we promise to credit you one day's rent for each day of delay up to seven days. If a routine maintenance request is not satisfied, a resident must notify the management office in writing within seven days of when that request should have been completed. Our on-site management strives to complete all routine maintenance requests within 48 hours. Unfortunately, some non-routine requests will take more than 48 hours due to the need for outside contractors or special suppliers.



Our 48-Hour Maintenance Guarantee is applicable to all requests submitted with your permission to enter, seven days a week. Requests submitted after 4 p.m. will be considered received the following day. Requests after 4 p.m. Friday will be considered received the following Monday. Program subject to change, please see your community management office for complete details.



Recently, I've had issues with my dishwasher. They responded a week later and when they finally came out, they forgot to drain the water from the dishwasher pumps (or so they say) and it flooded my kitchen. I talked to the stand in manager and she's said she's never heard of this maintenance policy even though it is directly on their site. Maybe I'm reading too much into this but it sounded like there was no way the manager would approve crediting any amount of rent. Is there anything I can do?



I also tried to talk to them about the renter's appreciation program and of course they said they have never heard of it either. I actually have been looking around several communities as my lease is about to expire and not one person in any of the leasing offices has said they knew of such a program.



Has anyone had any luck getting IAC to honor these policies?



<em>Edited to attach the PDF</em>
 
I just received a letter from IAC about the renewal of my lease and they have already reduced the price - something to do with the current market rental prices and I have only been with them since xmas
 
Good to hear, only a few weeks ago did we hear that IAC rent renewal letters were indicating increases. Apartment market is going to start adjusting fast in Irvine.



I think it may depend which community you live in cboy, some of the "luxury" apt communities respond within 48 hours. From experience, the lesser communities definitely do not.
 
I'm currently in Woodbury Square, not sure if that is 'luxurious' or not. All of my maintenance requests were responded to within 48 hours in my first year leasing with them, but the second year has had a lot of issues. I put in 3 requests this year and 2 of them have been late. I know currently the usual manager is on maternity leave so that might account for some of it. Either way, I'm still not happy with the quality of service.
 
I'm in Santa Rosa in Westpark. When I renewed my lease (going into Year 3) a few months ago, they dropped my rent without my having to ask. I asked why and they reminded me of the reward/discount program.
 
doesn't IAC pretty much own all the apt in irvine? so i guess they get to set the rate of the rental and thus discount the % from the price they set? is that about right?
 
Our loss to lease was well over $200+/mo but now is just under $200/mo with IACs new lower "market rates".

Our manager was surprised about how large our loss to lease is when we were inquiring about a different unit.

Supposedly you get your longevity discount or loss to lease, whichever is larger. But they balked on ours. Anyone experience this??

In the meanwhile, I'm trying to hold on tight for another 1-2 years minimum to purchase. Hopefully government induced massive inflation won't cause an earlier bottom before then!
 
[quote author="jbatzmaru" date=1208259254]doesn't IAC pretty much own all the apt in irvine? so i guess they get to set the rate of the rental and thus discount the % from the price they set? is that about right?</blockquote>


not along the jamboree cooridor, failed condos will become apartments in the near future. Camden is there so is Toscana.
 
[quote author="jbatzmaru" date=1208259254]doesn't IAC pretty much own all the apt in irvine? so i guess they get to set the rate of the rental and thus discount the % from the price they set? is that about right?</blockquote>


you mean kind of like, "hey good news, we're giving you 5% off the new rate! what's the new rate? 10% higher than the old rate."
 
[quote author="acpme" date=1208321075][quote author="jbatzmaru" date=1208259254]doesn't IAC pretty much own all the apt in irvine? so i guess they get to set the rate of the rental and thus discount the % from the price they set? is that about right?</blockquote>


you mean kind of like, "hey good news, we're giving you 5% off the new rate! what's the new rate? 10% higher than the old rate."</blockquote>


Yes, but the "market price" isn't completely arbitrary. They still control it, but the % off based on length of tenancy is not fictituous. If the new market rate is 1% below last year's, you still get 5% off that...



SCHB
 
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