Renting from the Irvine Company vs. Renting from a private party

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newport guy_IHB

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Can anyone familiar with the Newport Beach/South OC area share their thoughts with me on the pros and cons of IAC vs. private party rentals?



For the last 5 years, my roommate and I have rented from a private party on a quiet street in the Newport Peninsula. It has been a fantastic experience. Repairs are handled promptly, there is minimal interference, and it has generally been a great working relationship. We are now ready to upgrade to a larger place and have given our notice. We are willing to pay a bit more for a nicer area, but are running into some issues with the privately owned units available. Either the asking prices are outrageous for the units we are interested in, or the units themselves are below the standards we have set (aging fixtures/appliances, fridge not included, etc.)



I am beginning to think the only way to get a true "bang for the buck" right now is the Irvine Company rentals. I have always had it in my head, that I wanted to stay away from the IAC, but after visiting a few of their complexes, I don't know that I can get a better deal elsewhere for the quality of living that we are looking for.



Can anyone who is familiar with the rental market share their thoughts or experiences here? Right now, my clubhouse leaders are the Newport Bluffs and Newport Ridge. Any thoughts on these particular units?
 
We rented privately, repair are promptly done when requested and the owner hasn't raise rent since we rented this place. I work for a property management company, and they raise rent every year accordingly to the market rate. Some area the raise is not that much, like $10...but some are higher. If you can find a private owner that responded promptly to repair request, I think it is better to rent privately. Just my thought.
 
I have done both and their are benefits on both side. IAC will raise if that's the market and month to month is a joke. Depending on the IAC property can also make a difference. I live in the Village which is different then other IAC's I have lived in. Make sure if you plan to move to IAC ask the board if someone lives in that property. We get like $500 and most are willing to split it with you. The first visit you get a lower deposit so don't visit till you think you might go. Another way is to send a decoy with you and then when you go get the discount. I find IAC is more upgraded then private but you never know what you can find. In this market you have to be careful on private. Are they able to afford the payment?
 
IAC has become very restrictive and rule enforcement is always applied. Some people like this, some don't. Common area facilities in some apartment complexes (i.e. pool, spa, theater, weightroom) stay open much later than iac's. Everything seems to pretty much close up at 10pm.
 
Quick update:



I found a townhome that looks pretty nice, located in Costa Mesa. The owner of the units..... Gary Watts.



Should I be concerned?
 
[quote author="newport guy" date=1234928370]Quick update:



I found a townhome that looks pretty nice, located in Costa Mesa. The owner of the units..... Gary Watts.



Should I be concerned?</blockquote>


This is priceless. I would try to find out how much debt is owing on the property in order to determine whether there is any risk of the landlord being foreclosed.



With respect to IAC apartments, I moved here 4 1/2 years ago and have only lived in Newport Bluffs. Like everyone else says, you are essentially paying for a premium for landscaping/community facilities and prompt repair services. We have, however, had a number of problems with the maintenance office providing effective repair work to our unit (we had a leaky ceiling for 2 1/2 years) and a number of other complaints regarding community maintenance (fire alarms inadvertently going off at all hours) and neighbors (i.e., taking trash out) that have gone unanswered. We would have moved already except we kept thinking we were going to have bought a house by now and the location was convenient for our jobs.



So with all of that being said, I would definitely recommend renting privately so long as you are comfortable with the landlord and the unit itself.



If you remain interest in Newport Bluffs though, let me know and we can split the referral fee.
 
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