What's up with IAC's longer leasing terms?

NEW -> Contingent Buyer Assistance Program
Winex obviously has no experience with the IAC. LOL.



Your price for a Month to Month is about $ 350.00 a month more

on a typical $ 2000.00 a month lease.



My lease is coming up in April. Going to start looking around

at some other IAC places and do a good job shopping before we

negotiate. Maybe time to take one of those Marquee view Apartments

for $ 2200.00 with $ 1300.00 HOA. That will work on a month to month.



All I can say is Thank God I did not buy back in 2006.
 
[quote author="wendyinoc" date=1233052040]Hey BLT

Dont you live in the Village? Make sure you post the offer I am April as well. I will report what they offer.</blockquote>


Wendy

I am over in Quail.
 
Update:



My current lease rate is $1660/month. Here is what the IAC is offering...



$1640 for 13-15 months



$1620 for 16-18 months



Most likely will go for the 13 months.
 
Anteater, sorry if you mentioned this elsewhere. But what floorplan and complex are you in ? Also, are you going to try and negotiate a lower price or you happy with their offer?
 
IAC offered me $40 increase for 12 month contract and same rate for 18 month contract. We negotiated $80 decrease for 11 month contract.



What they offer and what you can negotiate aren't related at all
 
IAC also tried to increase my rent and lease break fee. I was able to negotiate to reduce my rent by signing a longer term lease and keep my old lease break fee. I was more concerned with lease break fee increase since there is a very high probability that I will break the lease.



So yes, you can negotiate with IAC on rent and lease break fee. Doing comps helped a great deal with negotiation.
 
I honestly think it depends on which complex you are in that determines how willing they are to negotiate.



My experience - currently renting a 1BR in The Village with lease ending in Feb. In Dec., they called me and told me the 'good news' that I could stay without a rent increase. Not that it mattered because the wife and I needed a 2BR (wife is due in June).



We checked around and were really interested in the new complexes near Woodbury (Esperanza, Palmeras, Mirasol) as they were all offering $200 of market rate. Eventually found a 2BR for about a hundred less than what we pay at the Village for our 1BR. Though we had to sign a 16-18 month lease. We are hoping to buy about that time anyway, so it should work out.



Just for grins, we went to the LC at the Village and asked to look at two bedrooms. The agent (Annie??) chatted our ear off about how IAC finally realized that the "incentives" they were offering were cannibalizing their own tenants (a lot of the former Village tenants are moving to the new complexes near Woodbury). Sure enough, the $200 off market rates are disappearing from a lot of the complexes we looked at. The leasing agent at our complex told us they stopped offering the incentives a couple days after we had given our deposit. Guess we were lucky...
 
There was a lengthy thread <a href="http://www.irvinehousingblog.com/forums/viewthread/3481/">here</a> on re-newing Leases etc...
 
[quote author="WaitingITOut" date=1233414247]I honestly think it depends on which complex you are in that determines how willing they are to negotiate.



My experience - currently renting a 1BR in The Village with lease ending in Feb. In Dec., they called me and told me the 'good news' that I could stay without a rent increase. Not that it mattered because the wife and I needed a 2BR (wife is due in June).



We checked around and were really interested in the new complexes near Woodbury (Esperanza, Palmeras, Mirasol) as they were all offering $200 of market rate. Eventually found a 2BR for about a hundred less than what we pay at the Village for our 1BR. Though we had to sign a 16-18 month lease. We are hoping to buy about that time anyway, so it should work out.



Just for grins, we went to the LC at the Village and asked to look at two bedrooms. The agent (Annie??) chatted our ear off about how IAC finally realized that the "incentives" they were offering were cannibalizing their own tenants (a lot of the former Village tenants are moving to the new complexes near Woodbury). Sure enough, the $200 off market rates are disappearing from a lot of the complexes we looked at. The leasing agent at our complex told us they stopped offering the incentives a couple days after we had given our deposit. Guess we were lucky...</blockquote>
I was roaming around on Craigslist and noticed that the rental rate for my 1bd unit over at Quail Meadow had increased from $1,445 0r $150 off market rate (what I'm paying) to $1,475-$1,490. They are just asking for higher vacancy rates by doing that.
 
I guess it all depends. We are paying $1695 in Woodbury for a 2/2 top level. We were given a rent increase in December with the option of staying for a year. We negotiated no rent increase and a six month lease extension so I guess it depends who you talk to.
 
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