TIC : Rental Increase

NEW -> Contingent Buyer Assistance Program
it just amazing how much you guys pay for rent. one of my sister is renting a townhome in HB 3bed/2 bath with garage. for only 1700 bucks. yes it is not as new and not in irvine but Huntington beach is pretty nice. that is a 800 dollar different and it is not IC which raise rent yearly. Why do people rent from IC anyways? is it really worth it?
 
jbatzmaru- where does your sister rent a townhome in HB for $ 1700? i am looking for months and everything decent is around 2100-2500.
 
<p>CK, I doubt you'll do better than $25/month until your rent is above market and other places are offering move-in specials and discounts extensively. IAC isn't dumb and they know you can't get a truck, boxes and gas for moving for $300. Let alone moving all your utilities, TV, etc.</p>

<p> </p>
 
jbatzmaru - Speaking only for myself, by paying $2360, I get to live at Newport Coast and San Joaquin instead of at Warner and Gothard. I have 2 pools, 2 hot tubs, and a fitness room to use. When I go for my run in the morning, my route takes me by a beautiful view of the ocean and Balboa Island. To me, it is worth it. YMMV.
 
jbatz - I can't speak for others here, but we pay the premium to rent in Irvine for the same reason many people will pay a premium to buy in Irvine. You can all flame me all you want as some sort of elitist, but I am more than happy to shell out a little extra to live around neighbors who are in a similar socioeconomic situation as I am. I can almost guarantee that any 3 bed in HB that rents for $1,700 is going to have all sorts of cool dudes inhabiting it. Sorry, I'll pass on that with a 4 year old daughter. I have a few single friends who rent on the cheap in CM and HB --- they are great places to go drink beer and watch football, because you can make as much noise as you want as all the neighbors are doing the same thing. But at my point in life, I don't want to live in that environment.
 
<p>I don't understand why rents aren't falling. But I accept they aren't. Here in Miami, my secy is moving, and her rent is impressive compared to what it used to be.</p>

<p>Surely all the empty houses will have some effect? but I guess with people being kicked out there are also more renters.</p>
 
<p>Liz, the vacancy is just starting to increase. It'll take more time for the vacancy to reach critical levels at the less desireable properties before they start slashing prices. Also, in Irvine, there is a quazi-monopoly on large complexes.</p>

<p> </p>
 
<p>Head down to Slater and Gothard, and you are in a glorious <a href="http://map.sba.gov/hubzone/hzqry.asp?scope=-117996957%7C33708558%7C2.31913265416479%7C2.68521790875888&command=zmin&zoomrect=275%7C178%7C0%7C0&panshift=&mapimage.x=275&mapimage.y=178">HUBzone</a>.</p>

<p>You can usually save money by renting somewhere in one of these areas, but you may not <em>want </em>to.</p>

<p>SCHB</p>

<p></p>

<p> </p>
 
i have to agree with CK, it is nice to come to a nice and very safe home surrounded by people who are typically professionals - it helps that the neighbor across and to my left both went to SC.
 
I would think rent would not decrease until houses catch up with rent prices. Nothing in renting has changed. People who rent are still in good shape. Now if a 2 bedroom purchased drops cheaper then rent I could see it.
 
<p>HB used to be nice, it's deteriorating pretty rapidly, one way to measure this is by the amount of abandoned shopping Carts in a neighborhood, an abandoned Shopping Cart is a pretty good warning sign that the Neighborhood is about to change for the worse....</p>

<p>I'm not a snob, I'm merely willing to work hard to beable to pay a premium to live in a nice, quiet and safe place...</p>
 
I've lived in an IAC community for the last 2 years and I've only locked my door twice. I like being able to walk around at night with ZERO fear of anything other than a stray coyote ( I have a dog.) I love Irvine, except for the asian minivan drivers on Culver between 4-6pm. Sorry!





All kidding aside, Irvine has a little bit of everything, and it is centrally located. There are other places in OC that take you 10-15 minutes just to reach a freeway. It's too expensive to buy right now in Irvine, but I think it is an awesome place to rent. Parks, bike paths, ample roads, schools, shopping, restaurants, etc.





Safety is something we overlook here in Irvine and many of us take it for granted.
 
<p><a href="http://money.cnn.com/2008/01/16/real_estate/rents_flat/?postversion=2008011618">http://money.cnn.com/2008/01/16/real_estate/rents_flat/?postversion=2008011618</a></p>

Mortgage meltdown: Now the rents

More fallout from the current housing slump - the cost of renting a home stagnated in 2007, according to an exclusive report for CNNMoney.
 
<p>Wait for it ...</p>

<p> <a href="http://lansner.freedomblogging.com/2008/01/17/vacant-oc-apartments-at-12-year-high/">http://lansner.freedomblogging.com/2008/01/17/vacant-oc-apartments-at-12-year-high/</a></p>

<p class="MsoNormal"> <a title="Permanent Link: Vacant O.C. apartments at 12-year high" href="http://lansner.freedomblogging.com/2008/01/17/vacant-oc-apartments-at-12-year-high/">Vacant O.C. apartments at 12-year high</a></p>

<h4>January 17th, 2008 · <a href="http://lansner.freedomblogging.com/2008/01/17/vacant-oc-apartments-at-12-year-high/#comments">10 Comments</a> · posted by Mary Ann Milbourn</h4>

<p>In what may be the first sign of a weakening rental market, the RealFacts apartment research firm reported today that the vacancy rate at major O.C. complexes is as high as it’s been in 12-plus years.</p>

<p>Apartment dwellers should enjoy the news that 6% of the units tracked were empty in the fourth quarter, up from 4.9% the year before and 4.3% from the third quarter of 2007. Last time it was worse? Third quarter of 1995, by RealFact’s math. Rents at Orange County’s largest complexes averaged $1,595 in the fourth quarter of last year, up 5.1% over 12 months.</p>

<p>RealFact’s Gerald Cox says weak local job growth, heavy building of new units by landlords, and possible financial challenges for prospective tenants from the subprime-loan crisis may have led to the vacancy jump.</p>

<p>“It’s straight ahead the economy,” Cox says. “It’s scary.”</p>
 
Personally, I think Huntington Beach definitely has a location premium over Irvine. That's why houses and apartments have to be bigger and newer than their Huntington counterparts to attract residents. But... I do think that in terms of growth, Irvine is doing much better than Huntington. Thanks to the highly educated workforce, Irvine is continually becoming a more prosperous city. What bothers me is that even though Irvine is such a nice place to live in, every time I go out, it's always outside of Irvine.
 
Isn't that the point? Do you want all the hot spots, i.e. Fred's Mexican Cantina, Duke's, South Coast Plaza, Westmister Mall, and surfing's US Open, in your backyard? Or, would you like it to be within 15 minutes?





Huntington Beach is an absolute traffic nightmare. The city is laid out in a grid format, which happens to run at a 45 degree angle to the coast. Lot's of riff-raff, tattoo shops and jacked-up trucks in Huntington
 
<p>LM-</p>

<p>Having lived there for a number of years, I can say that you are both wrong and right about HB. There are some very nice areas with quiet neighborhoods, parks, and beautiful homes. Then there are places like the Slater Slums, the Magnolia Corridor, and other areas that seem to breed white trash. But it isn't as bad as you make it out to be, nor is it as nice as the city council would like everyone to think. If you stay west of Beach Blvd. and south of Ellis, you'll find it has a lot in common with both Irvine and Newport Beach.</p>
 
My good neighbor friend unfortunately has decided to move out of our West Irvine apartment complex. He figured his rent was too high regardless of what IAC calls "market rates" and is going to be able to rent with a friend for 1/3 of what he pays now. He said the lowest they would go was a $35 per month increase.
 
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