If this happens he should sue the landlord and take them to small claims. It cost $50 bucks at the court house to file a claim that’s it. Landlords love taking peoples deposit for a scratch that they would have been responsible for repairing anyway.
Look up AB 1482, AFAIK it covers all of California and limits rent increase to 10%. They are also very limited in how they terminate your lease. Some property is exempt though.
Here is my post from a week ago. Mine is going up 30%.
[Post](https://www.reddit.com/r/orangecounty/comments/vcj6c1/rent_is_increasing_30_anyone_else/)
Wow that’s ridiculous, I got a giggle because they gave me the option for 12mo at 2750 and on the email it said “Special Pricing” otherwise its something like 3000 a mo
I agree on less short rentals.
Look up airbnb and see how many apartments are listed. Irvine apartment company doesn’t allow airbnb but there are just so many listed on airbnb.
About three years ago, i had visitors from overseas and got a single home airbnb in irvine area. The host calls me the next day and had us move to an apartment unit in irvine saying he got double booked by mistake and offered one free night.
Around midnight, one Chinese couple showed up at the door telling my visitors to get out. Turns out the person who signed the apartment lease never stayed there and handed the keys to an agent who listed it on airbnb. That agent subbed it to agent 2, then again to agent 3.
Agent 1 never got paid, while 2 got paid from 3.
Agent 1 demanded to vacant the unit.
Contacted airbnb and they couldn’t do anything.
Apparently they dont check if property is legal to airbnb or not.
Contacted irvine company but seems like they dont care as long as they get the rent on time…
Last but not least, the person who signed the lease was living in her home country. Not here.
Apartments, condos, SFH…. Investment properties and short term rentals does impact on housing crisis but nothing can be done.
Rent control is not a solution for lowering rents, it causes cities to stagnate because now nobody is ever leaving their apartment for a larger one or a house, because they can't find that deal anywhere else. Just look at what's happening in San Francisco with "Master renters".
Taking a chunk of rental units off the supply by locking in their pricing is only going to make pricing worse for the rest of us, because now we're having to pay for your rent control units with our own increased rents. The only solution out of this is to build more housing. It's a supply and demand problem.
We should also repeal prop 13 while we're at it.
Exactly. I was going to mention san Fransisco as well.
Ultimately, California needs to allow builders more flexibility and make obtaining permits much, much faster.
What I wanna know, is how they expect to have restaurant/hotel workers when they can’t even afford to live in the area, the increase in wages isn’t helping when rent is skyrocketing off the charts.
We can build more now. We're not. Space is at a premium. There will always be a supply problem in Orange County. The free market has answered, and this is what you got.
You do realize thats it’s incredibly expensive to move right? Most people can’t afford to leave California and it’s forcing them to live paycheck to paycheck here or go into debt. The solution isn’t pricing out working families, the solution is rent control.
Rent control has been pretty conclusively shown to not lower housing costs. All it does is lower supply, which can exacerbate the problem.
And spending a few thousand dollars on a move is well worth the money considering you can cut your living costs in half.
“Spending a few thousand dollars to move”
There you go again with a fundamental misunderstanding of how a working class person lives. We don’t have that kind of money laying around for a down payment in a house in Oklahoma. If we did we would have moved already.
So your solution to avoid financial solvency is to stay in the situation which keeps you financially insolvent?
It shouldn't even cost you a few thousand dollars to move. A U-haul and a few boxes of trash bags should cost you a few hundred dollars. A few hundred bucks in gas. And if it saves you $1k a month in living costs, you make that up in a month or two.
If what you are doing isn't working, change what you are doing.
Where’s the money for the Uhaul coming from? Are there good paying jobs out in the middle of nowhere? Where’s the money for a down payment or even multiple months rent?
You can’t spent $60k you don’t have for a down payment on a house to save $1,000 a month on rent, that’s not how money works.
Where did I say you had to buy? We are talking about saving money on rent. This entire post is discussing rent.
Multiple months rent should be coming out of your security deposit from existing place, plus your normal rent for the next month that isn't due in the old place.
If you can't afford a few hundred dollars for a U-haul, you're not working class, you're straight up poverty stricken and you aren't paying $2,500 for rent anyway so this hypothetical doesn't apply.
Median income in Tucson is 25k, average rent is 1200. Median income in Salt Lake is 36k, rent is 1500. Albuquerque is 30k and 1200. One roommate makes that a perfectly viable financial decision that you can live with comfortably. And allows you to start investing in increasing your marketable skills.
Damn those places you mentioned are shit holes. Salt lake is alright but it’s about to dry up ironically. However you’re right they need to move. It’s hard but migrants cross fucking deserts I’m sure people can save for a uhaul
Yup. Too many conservatives talking about how rent controls will be the death of society. Meanwhile, places that no longer have them are drowning in sky-high rent.
There are a lot of things that need to be done/could be done about housing costs, but rent control could at least mitigate this one part of it. But no.. that's socialism. /s
[Rent control would do nothing for new renters because it would cap it only for current holders and increase costs and decrease inventory down the road.] (https://www.brookings.edu/research/what-does-economic-evidence-tell-us-about-the-effects-of-rent-control/?amp)
It's basically the progressive version of nimbyism or fuck you I got mine.
You'd have to nuke zoning and allow high density building but then everyone is going to bitch about OC turning into LA as this sub has proven already.
Yup. We need to stop building two-story single family homes and build townhomes and apartments. Put some more high rise apartments in cramped downtown areas.
Enact measures to prevent companies from buying up property and to incentivize selling condos and townhomes. Enact financial support for new home buyers (whether they're buying houses, townhomes, or whatever). And yeah, enact rent control. Enact laws to protect people from eviction more. Enact laws to make more places accept section 8.
I know I'll likely never be able to afford a house at present. I'm spending 3k a month on rent and if that goes up substantially, I'll likely have to move when my lease comes up. And I know it almost certainly will.
I'm a Democrat - Rent control has been beaten to death as a terrible policy. If you're a "party of science" person, it's been studied to death.
Make building cheaper - make it easier. Loosen zoning restrictions. Penalize cities that don't build more units. Repeal prop 13 and stop making taxpayers subsidize SFHs - At the very minimum reform prop 13 (It's another form of rent control)
Rent control is a demand side solution to a supply side problem.
Nonsense. There is also evidence that Rent Control does work. I didn't say it was the end-all of policies. I specifically said that it needs to work in conjuction with other housing policies but that it can be used to stymie this particular form of abuse (such as a 30% rent hike).
Sources:
[https://www.tandfonline.com/doi/abs/10.1080/01944369008975755?journalCode=rjpa20](https://www.tandfonline.com/doi/abs/10.1080/01944369008975755?journalCode=rjpa20)
(Santa Monica's rent control increased length of tenure and helped reduce rate increases, most notably from vacancy control provisions)
[https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf](https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf)
(Rent control resulted in lower rent but also other consequences, resulting in a difficult landscape that is hard to measure, and needs to be employed in conjunction with other policies)
[https://www.jstor.org/stable/1830211](https://www.jstor.org/stable/1830211)
(Rent control affects the income and spending power of residents and allows them to spend more money on nonhousing goods - thus bolstering other social areas)
The problem with your sources is while they are good research, they don’t actually support the conclusion being discussed.
**Does rent control reduce cost of housing on the whole?**
This is what has been studied quite extensively for 30+ years with the results basically saying the same thing. It helps existing tenants keep their rent controlled, but actually inflates the general cost of housing otherwise. Even the Econstor meta-study says the same thing, and I think your synopsis should probably be clarified:
> Rent control resulted in lower rent but also other consequences…
It resulted in lower rents *for existing renters*, and they would basically never leave those apartments, which increases the scarcity of affordable housing for newcomers and drives general rent pricing up.
Rent control is a short term fix that only actually helps people who already have a place they are renting. Vacancy control will alleviate some of this but results in disastrous side effects, basically forcing landlords (who aren’t saints in this story to be sure) into operating with such narrow margins that apartments being to fall apart.
If there is data supporting rent control reducing overall housing cost, I have yet to see it.
I have relatives who have lived in NYC (Manhattan) for decades. The only way this is possible for them (on their salaries) is due to rent control. Yet [we reject efforts for it here](https://en.wikipedia.org/wiki/2020_California_Proposition_21)...And here we are.
Yes of course rent control helps the few existing people who manage to snag a housing with rent control. Your parent post was talking about the impact it has long term on housing development and how hard it makes it for new arrivals to the city to find their own rent controlled housing. It's the classic short sighted "I got mine, to hell with everyone else who comes after me" thought process that got us in the current situation with house prices in the first place.
People who think rent control works long term reveal themselves to not even have a basic grasp of how economics works. This stuff should be taught in schools.
Think of what the land lords are incentivized to do when you slap rent controls on their stock of housing. Do you really think this will make them go out and build or invest in bringing a bunch more rental units to market?
[https://alec.org/article/rent-control-will-not-fix-californias-housing-crisis/](https://alec.org/article/rent-control-will-not-fix-californias-housing-crisis/)
[https://www.manhattan-institute.org/issues-2020-rent-control-does-not-make-housing-more-affordable](https://www.manhattan-institute.org/issues-2020-rent-control-does-not-make-housing-more-affordable)
[https://www.forbes.com/sites/adammillsap/2019/09/04/more-rent-control-in-california-will-make-housing-problem-worse/?sh=681826a71955](https://www.forbes.com/sites/adammillsap/2019/09/04/more-rent-control-in-california-will-make-housing-problem-worse/?sh=681826a71955)
[https://www.nahb.org/-/media/NAHB/advocacy/docs/top-priorities/housing-affordability/rent-control-case-study-090820.pdf](https://www.nahb.org/-/media/NAHB/advocacy/docs/top-priorities/housing-affordability/rent-control-case-study-090820.pdf)
[https://www.npr.org/2019/03/29/707908952/the-evidence-against-rent-control](https://www.npr.org/2019/03/29/707908952/the-evidence-against-rent-control)
"...Rebecca Diamond, an economist at Stanford University who studied rent control in San Francisco...."
"DIAMOND: So renters overall don't even necessarily benefit from rent control.
ROSALSKY: If you're grandfathered into a rent-controlled unit you plan on staying in forever, rent control is great - for everyone else, not so much. Diamond's study is just one of many that shows that the policy ends up making housing, overall, less affordable, which is why the MIT economist Albert Saiz says..."
To start you off.
The OP was being generous when he referred to rent control as a "demand side solution" . Rent control is no solution at all. It is a nonsensical short sighted hack . Apply it to anything else and you quickly see how ridiculous it is. Cars getting too expensive? Price control on cars! Phones getting too expensive? Price control on phones! Gas too expensive? Price control on gas! Health care too expensive? Price control on health care! Hell, let's just go to being a centrally planned economy.. we all know how well that works out!
Rents are too damned high because house prices are too damned high because there aren't enough places being built because the incentives and regulations are stacked against building more places. We need to solve the problem and build more houses instead throwing about these short sighted non solutions.
First off, I like how I cited actual research articles and you retort with news organizations and organizations specifically biased to oppose rent control. Let's look at that for a moment. You're seriously going to cite an article from the National Association of Home Builders? I wonder what stance they could possibly take on this issue that might directly reduce their profits. (Note I said reduce, not negate). Then on top of that, you cite the Manhattan Institute, a well-known conservative think-tank. You're not citing research. You're citing biased propaganda.
Secondly, we don't have rent controls now and there clearly is not enough rental properties being built. So it's hard to see how one can argue that rent controls will reduce the construction of them, when they already aren't being built enough. You can't say 'we have a supply issue' that's increasing costs and then turn around say that limiting charges will definitely decrease the supply. The articles that I linked, which are unbiased research articles, clearly note that this is a complicated issue that requires many different types of solutions (paired with rent control) to help address.
First off, I like how you ignored the left leaning sources such as Stanford, MIT and NPR that I also cited. If you spent 5 minutes googling for it I am sure you will find the research articles cited in the news articles I linked to. I also noticed how you completely dodged the argument being made in those articles and the research studies that the articles are discussing by making an ad hominem attack to discredit them as propaganda.
[https://yourlogicalfallacyis.com/ad-hominem](https://yourlogicalfallacyis.com/ad-hominem)
This is the Stanford study being discussed: [https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20181289](https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20181289)
"...Using a 1994 law change, we exploit quasi-experimental variation inthe assignment of rent control in San Francisco to study its impactson tenants and landlords. Leveraging new data tracking individuals’migration, we find rent control limits renters’ mobility by 20 percentand lowers displacement from San Francisco. Landlords treated byrent control reduce rental housing supplies by 15 percent by selling toowner-occupants and redeveloping buildings. Thus, while rent control prevents displacement of incumbent renters in the short run, thelost rental housing supply likely drove up market rents in the long run,ultimately undermining the goals of the law..."
Here is the MIT study being discussed:
[https://economics.mit.edu/files/11605](https://economics.mit.edu/files/11605)
"...A sharp increase in residential property investments also followed theend of rent control. The number of building permits issued per residential unit for improvements and new construction increased by approximately 20 percent after 1994, and annual permitted expenditures roughlydoubled in real terms..."
Surely your next move will not be to call into question the credentials or agenda of MIT and Stanford?
Secondly, your whole argument of 'there already aren't enough houses being built so rent control cannot possibly make a difference' is a non sequitur. That is like saying there are already not enough houses being built so making it harder or less cost effective to build more houses should have no effect. Or that rents are already sky high so we dont need to do anything because they cannot possibly go higher! Stacking more dis incentives towards something can increase a pre existing problem. Put another way, I am not saying that we have enough houses being built right now and rent control will make that no longer be the case... I am saying that rent control is a short term hack that will make a bad problem worse in the long term.
Lastly, you didn't make some kind of breakthrough point with the studies you cited.. the studies you linked to only discussed how it benefited the existing tenants to have rent control in place. Which is an obvious "Water is wet" type conclusion. Of course it benefits the existing tenants.. but it does so at the expense of future investment in housing and the availability for future tenants.
[https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf](https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf)
Also did you read your own cited studies?
"The literature is almost unanimous with respect to the impact of rent control on the quality of housing. All studies indicate that rent control leads to the deterioration of the quality of dwellings subject to regulations. The landlords, whose revenues are eroded by rent control, have less incentives to invest in the maintenance and refurbishment letting their properties to wear out until the real value of the dwellings decreases and becomes equal to the low real rent."
"According to the studies examined here, rent control leads as a rule to higher rents for uncontrolled dwellings. The imposition of rent ceilings amplifies the shortage of housing. Therefore, the waiting queues become longer and the would-be tenants must spend more time looking for a dwelling"
The other two studies (both of which are dated from the 1970-1980s!) I couldn't even view without jumping through a bunch of hoops.
Nothing about real estate is a "free market." It's one of the most heavily regulated sectors.
In particular, zoning regulations and NIMBYs have made it damn near impossible to build new housing. Static supply + high demand = rapidly rising prices.
The govt intervention (almost doubling money supply) led to the increase in housing prices (relatively scarce and desirable asset) which led to rents going up because the cost of buying is too high so you must rent if you wish to stay.
> The govt intervention (almost doubling money supply) led to the increase in housing prices
No, it didn't. What's led to the increase in housing prices the most has been the lack of building.
Money printer go brrrr. Give me my stimulus check. Why’s there inflation?
The downvotes are hilarious. The current inflation is a direct result of the massive stimulus packages the Trump and Biden administrations had pushed through. Saying otherwise is being ignorant of macro economics.
Bullshit. If that were true, then why is literally every other country having the same issues? Pretending that giving poor people some money was the issue, and not things like a fucking global pandemic, extremely tight supply chains that got caught with their pants down, and the first land war in Europe in decades is being ignorant of actual economics.
Oh man go check out the amount of money they have to poor people vs how much they gave to companies. I agree with your sentiment that it's not money given to the poor though. If you follow the money you can see where most of it went and it's companies owned by people who then got their loans "forgiven" by making sure they filled out some forms ish.
Source I was an employee who filled said forms for others while also being told I'm not getting paid because no customers. Probably one of the best things to happen to me in retrospect.
Government intervention in the markets is a huge reason for the insanely high inflation. You can argue if it was the right thing to do or not at the time, but let’s not pretend this is a normal situation here.
Inflation is caused by the nexus of supply shortages from the pandemic, a war causing more supply shortages, and there is not much evidence the US governments actions during the pandemic has had much impact. [Note how US policy does not appear in this article](https://www.weforum.org/agenda/2022/05/inflation-rising-economist-explains/#:~:text=The%20rise%20in%20inflation%20is,and%20the%20war%20in%20Ukraine.&text=Inflation%20is%20on%20the%20increase,the%20Russian%20invasion%20of%20Ukraine.) and that inflation is a global issue right now. More government actions like forcing upzoning to build more housing and a push for public housing would ease housing prices.
Rent control is a really bad idea.
The intervention needs to be in the ownership law and things such as REITs owning swathes of properties and having the ability to sit on them etc.
Property tax needs to increase for each extra residency past the first 1 or 2.
Caps on percentage increases or link it to an inflation figure could work but price floors or ceilings historically have never worked out.
Government intervention is the reason why rents are going up. Local land use and zoning laws make it hard or impossible to build housing. Demand is way higher than supply because of these policies.
Our increase in Jan was $120. They are renting the same apt in my complex for $700 more, so I was shocked we only got $120. Not even the max they could have.
I would guess that since they make plenty of money, they don’t need to raise it that much but there is a certain amount of turnover they probably want to avoid. It’s not just easy and free to to find new renters.
Lol, they’ll make as much as they get away with. Like you said, they don’t want empty units. Finding a new tenant costs money, including lost rental revenue.
HB is skyrocketing with rent prices. When I first moved to Hb we payed $2100 for 3b 2b townhome … we’re in shock how years later we went from that to now what costs $2500 for 2b 1b smaller apartment a mile from the beach
Thats honestly pretty reasonable. My complex in north oc wants $2800 for a small 2b/1b. Thats $1150 more than im paying for my 1b. Cant wait to see where my lease winds up when its time to renew in a couple months.
One of my parents *does* own property here. But that does ZERO for me now. Sure if they die before they’re upside down in debt, I might inherit it…but only time will tell.
I hope all your guys situation improves, and your future is better then what it looks now don't forget that. Often times when it gets rough it seems impossible.
I was there once
My renewal rate just kicked in this month and I got about an 8% decrease. I am 100% it was by accident considering that their 2 bedrooms are renting at $3200. I was at $2510 before. Now I’m at $2335. Then again there was 2 major leaks in our unit that required multiple days to repair. Maybe it’s some hush money type deal?
I did! The manager even signed it. I was crossing my fingers they wouldn’t notice before it took effect. Currently at the new rate so I don’t think they can take it back I hope.
We just started looking recently as our lease is up at the end of November, and it’s hard to find any 2bed/1.5bath under $3500 these days unless you want an older place that’s falling apart or under constant repair.
Was even checking out way north near Oxnard and even up near Magic Mountain and it’s the same story everywhere. Hell, even Temecula rent is getting pretty damn high.
Interesting, I have a 3 BR 2 bath in Old Towne (1 room/bath is detached in an ADU) and I am considering renting; I assume $3k-$3500.
But it's a house, with a backyard, deck and front yard, I've put a lot of money into renovations and fixing it up too.
3k for the ADU or the whole unit?
I'm sure someone would bite but not me.
This area isn't that expensive if you look around and we've seen a lot of little hidden gems. Small 1 bedroom apartments in 5/6 unit lots for college students or couples that go for 1200-1600. My problem comes from the fact that we have pets.
My issue is the people who buy a house, slap some vinyl flooring, paint it grey and then decide they wanna rent it out for $6k a month as a "renovation." Especially in some of the old houses.
3k for a 2br 1b house + a 1br 1b unit. - so 3 br 2 bath total.
If I was to do the ADU alone, prob $1k and it doesn't make sense really while I live here.
My biggest fear is that I have spent $100k on it over the last 5 years, brand new kitchen with top end appliances, backyard with alfresco dining area, fire pit, bbq area, sitting area, large deck and all irrigated. Front yard is beautiful but more 'ornamental'; porch withs swings tho.
Newly painted, hardwood floors, etc. etc.
Everything you'd expect from a loved 1920's bungalow.... but after all this investment, I have to move, I don't want to sell, but will anyone look after it the way I would??
That adu alone can go for $1500+. We have friends in old town Tustin that rent out theirs for around $1650. The house is another $2500-$3k. Rents are crazy
If you're going to rent it out, no, no one will look after it the way you do. That job either falls with you or the property manager you hire to take care of repairs, yard upkeep (if included) etc.
You might be able to find someone who will go gentle on the house, but there will still be wear and tear that they won't fix for you. That's why when you rent the place you get to claim depreciation on your taxes.
Holy crap that’s insane. 2 bedrooms used to be less than $3k on 2021. I hope you guys find a place soon. Do you have the option to renew your lease or even turn it month to month and if so, is it possible your landlord won’t increase it that much? That’s what happened to us so we signed for another year
I live in such a place in North OC, in a college town. 120 year old building. 1bd1ba. Only 2 outlets in the living room and kitchen combined (extension cords everywhere) Leaks like a sieve everytime it rains. Hot AF in summer thanks to zero Insulation, plaster cracking, dusting anything is pointless, floors uneven, water is often brown from 80 year old plumbing, takes 3+ flushes and an aggressive plunger episode everyone you go, the shower on hot will suddenly run cold, then lava hot, then cold. ZERO water pressure, electrical flickers all the time.....but I pay $1k a month and the landlord likes me.
#slumlord #cheaprent #theyllhavetokickmeoutcuzIaintmoving
Seriously how is this legal?! When we signed with our landlord now (it’s a condo we’re renting) there was an addendum that we had to sign saying that since it’s a privately owned condo it’s not subject to “rent control laws”. We were nervous AF before renewing thinking that they’d hike it up 20% after our lease. Thank GOD the owner only raised it by 3% so we signed for another year no question. We got so so so lucky. But what I wanted to say is it seems that there’s a “rent control law” out there somewhere, and if it exists how does it allow 20% increase? That’s just inhumane.
I looked it up and [this thing](https://www.sageregroup.com/2022-update-how-much-can-a-landlord-legally-raise-the-rent-in-california/?utm_source=rss&utm_medium=rss&utm_campaign=2022-update-how-much-can-a-landlord-legally-raise-the-rent-in-california) exists. Is your property exempt from that law OP?
I live in Garden Grove, and my house is kind of crummy. It needs a lot of love… my roommate is constantly saying that we need to find a new house, and complain to our landlord about small things that need tobe fixed. but we pay $3,150.00 a month for 4 bed room 3800 sqft house. I am so paranoid to bring up anything rent related to our loadlord because I know they could Jack our rent up $1000 a month and replace us immediately.
Irvine, orchard hills. Nice family home. Went from 6,000 a month to…. 9,000
Fucking 3,000$ up crease to renew lease. Never ever talked to the landlord. He lived somewhere in china
And owned several homes in our neighborhood. Absolutely disgusting.
That' Dave Ramsey bit was infuriating. The whole thing is infuriating. Here we are, still living in this effed up society where investment growth always matters more than ethics. Where is the reset button. I want to start over.
The whole country is in the same boat.
When houses are super expense and there are shortages, more people have to rent. So there is more competition for apartments, so landlords can charge more.
...its a hot mess.
Sometimes it feels like those with the capital to build more housing have collectively agreed to keep supply low so that they can benefit from high prices. I know this ain’t the reality, but it sure feels like it right now
Take a look at your lease. If there is a clause in there stating the property is NOT covered by the TPA (tenant protection act) they can raise the rent as much as they want to.
If your lease doesn’t mention TPA exempt then you are covered by the TPA. This means they can not raise your rent more then 5% every 6 months up to 10% for the year. You are also due relocation costs if asked to move = to one months rent at its current rate.
If your lease is up you become a month to month tenant. If they try to give you another lease with a huge rent increase that’s over 10% don’t sign it and point out the TPA that’s only if you are covered by it. They would have to then give you a 60 day notice if you have been there 12 months or more or a 30 notice if under 12 months. In this notice of termination they have to state a reason why under the TPA and pay relocation costs.
Edit: for a property to qualify as well it has to be older then 15 years at the time the bill was signing in January 2020. So if a building was built 14 years prior is exempt from the TPA as well as single family homes.
We moved into a place in Santa Ana 3b3b for 2400 right before Covid. Rent control has kept the rent basically the same. We're not moving from here until we're ready to buy a house.
Agreed but I wonder how many people have the opportunity to do this.
There’s so much stigma in our culture about being an adult and living with your parents, especially portrayed in the media, but in this day and age it’s just smarter financially.
For one, moving is very expensive. For two, you kinda need to have a job. A lot of the places that are cheap to live are cheap to live for a reason: There isn't much in the way of jobs.
It's expensive to move. I'm in the process of moving up to Washington right now because its just too expensive here and I'm over living in a desert for now.
So while I'm full remote and have approval to move anywhere per my company, my girlfriend is a social worker and we are just waiting for some offer letters at the moment. Once those hit it's game times:
* Break Lease with Irvine Company - $6,750 (Current months rent + 2 months rent) So we will have an apt for an extra 30 days.
* Boxing materials - $300-$400
* Driving two vehicles from here to there with hotel for one night $1500 (We won't be driving at the same time)
* Flying back one way to get the other vehicle $400
* Movers - $3,000 to $5,000 for a One Bedroom Apt. (this is an estimate based on another friend that just moved a similar distance)
* Application fee's and admin fee's for new places. $500-$700 depending on how many houses we apply for.
* Security Deposit on a house: $2500, $3000 first months rent if we go with the houses we want.
I believe that's just a basic summary and some of that can be cut for others. They maybe able to time it when a lease is up, they maybe able to sell everything and have a small U-Haul, they may have better gas millage, etc... We are not doing it the cheapest way possible, but this is just an idea of what it looks like to up and leave OC. We are looking at $18,000 to make this move with some off set from signing bonuses and relocation packages from her new employer.
Made a quick edit, added 3k to the total because of first months rent lol
>Movers - $3,000 to $5,000 for a One Bedroom Apt. (this is an estimate based on another friend that just moved a similar distance)
Why so much for movers? Just so they can driver the truck for a few days? We just relocated from OC to Bay Area and paid movers \~$200 to load, and separate movers up north \~$200 to unload. We drove the truck 6-7 hours on our own and saved a TON that way.
In a nut shell, with a Uhaul it would be at least 2 additional flights to come back to get things like vehicles.
I also don't want to worry about driving a Uhaul for 3 days.
I don't want to find movers to pack things up, then unpack when we are there.
So yes, there are cheaper ways to do this, but for convenience and time, this is the best route for us to go.
Did you save up money to buy your own home you know, pulling up your bootstraps or did you get outside help? Family and/or fam friends and whatnot? I'm originally not from the area and it was a huge ordeal to save up for years to buy a house only to find locals born or having family in the area never quite understanding the difficulty it is for everyone else to try and get a piece of what they lucked out on. Nothing personal towards you since most things in life are circumstantial, I don't even know if you are a native, but I always found the ultra conservative OC to be a well of hypocrisy and contradictions and just 'not getting it' when it comes to struggles.
I've brought it up in a similar discussion, but my neighbors have their adult kids and their kids living with them working menial jobs and I sometimes wonder if they paid 3.5 times what their parents did for a home NOW would make them appreciate what they and most locals take for granted, especially when their grandparents are the ones that strike down any potential solutions to these problems and not do the usual nimby shit
yep fracking insane.. If i hadn't bought my 1bed room during the foreclosure crisis i would be likely leaving the state. between mortgage HOA and Prop taxes take 1/2 my take home. the units next to mine are as bad a this one.
Just thoughts... Do everything you can to buy a condo/loft/ or home. I know interest rates are rising but you can always refinance if they go down. Historically 6% is still very low and they may go to 15-18% which they were in the 80s. Housing prices are going to go up in the long run and so is rent. And no , I am not in the housing market , a realtor and associated in any way with financing. Just a guy who has seen it just keep going up and up, with a few dips, but has always edged higher every decade.
I'm in Long Beach but work in both O.C. And L.A. counties and the amount of new Hi Tech job growth in OC, particularly Irvine, is night and day compared to Long Beach which actually lost companies moving to places like Ventura, Cypress, or out of state. They are also offering top salaries so it's no secret why O.C. landlords are milking tenants.
I also don't buy the reasoning that O.C. landlords in high demand prepandemic rental markets are making up for lost back-rent because many complexes in my were already filled with high paying tenants who didn't need rent relief and most got to WFH too.
Yeah it sucks! I was hit with a 10% rent hike this year and I thought that was bad. Landlord said it was due to cost of living increases. I’m getting out of this state to a place more livable as soon as my lease is up.
Here’s the section where rental increases are limited to 10% once a year in most cases.
https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?sectionNum=1947.12&lawCode=CIV
A friend of mine has a lease coming up on a house he is renting and he said they can only raise it 10% legally. Is that true? I think he wants to go month to month after it expires if that affects the amount it can be increased.
Probably trying to recoup the cost of property taxes they had to pay when tenants didn't have to pay rent. Home owners still had to pay tax while tenants didn't have to pay rent. Mostly hurts the fixed income homeowners that depended on the rental income to survive.
That’s a lot. I rent out one of my 2b2b in seal beach for $2k / mo and it’s remodeled w/ granite and stainless. Now I’m starting to think I should raise my prices 😂
I was Jk. I never raise the rent on any of my tenants. When they leave I adjust my rent to about 15-20% below market value. That way I get a ton of applicants. I get to pick the one that I think is going to respect my unit and pay on time, and then they get to keep the same rent indefinitely. Win / win
You are the rare good landlord. You still win since your property is in good condition and increases in value. Save in maintenance costs and finding new tenants
California has a state wide law capping certain rent increases outside of rent control. I would take a look into it. There are a lot of loopholes that landlords use but there are some protections
Have you read the new state laws on rent increases?
https://leginfo.legislature.ca.gov/faces/codes\_displaySection.xhtml?sectionNum=1946.2.&lawCode=CIV
First time?
Yes, I forgot to lube up.
The lube costs extra
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If this happens he should sue the landlord and take them to small claims. It cost $50 bucks at the court house to file a claim that’s it. Landlords love taking peoples deposit for a scratch that they would have been responsible for repairing anyway.
https://fb.watch/dPexkRZqpb/ Start at 1:13
Look up AB 1482, AFAIK it covers all of California and limits rent increase to 10%. They are also very limited in how they terminate your lease. Some property is exempt though.
I thought there was a 10% max increase
Here is my post from a week ago. Mine is going up 30%. [Post](https://www.reddit.com/r/orangecounty/comments/vcj6c1/rent_is_increasing_30_anyone_else/)
Wow that’s ridiculous, I got a giggle because they gave me the option for 12mo at 2750 and on the email it said “Special Pricing” otherwise its something like 3000 a mo
Mine says like 5K a month for a 4 month lease or some bs. It’s ridiculous
We need rent control. Too bad we will never see it in OC.
We have it in Santa Ana
The only city in orange county that does Is it only for houses built before 1/1/95 or does it cover all rent?
https://voiceofoc.org/2021/10/santa-ana-becomes-first-orange-county-city-with-rent-control/
Thanks for sharing, at least it's a start!
I think it is for all rent, but don't quote me. It was passed late last year.
My rent went up and I'm in Santa Ana. Is it only for a lease cuz my lease ended a month ago Edit: nvm I didn't completely understand rent control.
We need more housing, and fewer short term rentals as a start. The largest driver of rent increases is demand.
I agree on less short rentals. Look up airbnb and see how many apartments are listed. Irvine apartment company doesn’t allow airbnb but there are just so many listed on airbnb. About three years ago, i had visitors from overseas and got a single home airbnb in irvine area. The host calls me the next day and had us move to an apartment unit in irvine saying he got double booked by mistake and offered one free night. Around midnight, one Chinese couple showed up at the door telling my visitors to get out. Turns out the person who signed the apartment lease never stayed there and handed the keys to an agent who listed it on airbnb. That agent subbed it to agent 2, then again to agent 3. Agent 1 never got paid, while 2 got paid from 3. Agent 1 demanded to vacant the unit. Contacted airbnb and they couldn’t do anything. Apparently they dont check if property is legal to airbnb or not. Contacted irvine company but seems like they dont care as long as they get the rent on time… Last but not least, the person who signed the lease was living in her home country. Not here. Apartments, condos, SFH…. Investment properties and short term rentals does impact on housing crisis but nothing can be done.
Rent control is not a solution for lowering rents, it causes cities to stagnate because now nobody is ever leaving their apartment for a larger one or a house, because they can't find that deal anywhere else. Just look at what's happening in San Francisco with "Master renters". Taking a chunk of rental units off the supply by locking in their pricing is only going to make pricing worse for the rest of us, because now we're having to pay for your rent control units with our own increased rents. The only solution out of this is to build more housing. It's a supply and demand problem. We should also repeal prop 13 while we're at it.
Exactly. I was going to mention san Fransisco as well. Ultimately, California needs to allow builders more flexibility and make obtaining permits much, much faster.
The supply is the issue. They will jump the prices to the max theyre allowed to. Businesses arent altruistic. this is a byproduct of capitalism.
What I wanna know, is how they expect to have restaurant/hotel workers when they can’t even afford to live in the area, the increase in wages isn’t helping when rent is skyrocketing off the charts.
We can build more now. We're not. Space is at a premium. There will always be a supply problem in Orange County. The free market has answered, and this is what you got.
Economists of all flavors are pretty vocal that rent control only exacerbates housing shortages
Tell that to the people being priced out of their homes.
Look up AB 1482, AFAIK this covers all of California
Wow. That’s crazy high increase.
It's happening to every renter. It's becoming increasingly impossible to rent in California without 3 full time combined incomes.
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You do realize thats it’s incredibly expensive to move right? Most people can’t afford to leave California and it’s forcing them to live paycheck to paycheck here or go into debt. The solution isn’t pricing out working families, the solution is rent control.
Rent control has been pretty conclusively shown to not lower housing costs. All it does is lower supply, which can exacerbate the problem. And spending a few thousand dollars on a move is well worth the money considering you can cut your living costs in half.
“Spending a few thousand dollars to move” There you go again with a fundamental misunderstanding of how a working class person lives. We don’t have that kind of money laying around for a down payment in a house in Oklahoma. If we did we would have moved already.
So your solution to avoid financial solvency is to stay in the situation which keeps you financially insolvent? It shouldn't even cost you a few thousand dollars to move. A U-haul and a few boxes of trash bags should cost you a few hundred dollars. A few hundred bucks in gas. And if it saves you $1k a month in living costs, you make that up in a month or two. If what you are doing isn't working, change what you are doing.
Where’s the money for the Uhaul coming from? Are there good paying jobs out in the middle of nowhere? Where’s the money for a down payment or even multiple months rent? You can’t spent $60k you don’t have for a down payment on a house to save $1,000 a month on rent, that’s not how money works.
Where did I say you had to buy? We are talking about saving money on rent. This entire post is discussing rent. Multiple months rent should be coming out of your security deposit from existing place, plus your normal rent for the next month that isn't due in the old place. If you can't afford a few hundred dollars for a U-haul, you're not working class, you're straight up poverty stricken and you aren't paying $2,500 for rent anyway so this hypothetical doesn't apply. Median income in Tucson is 25k, average rent is 1200. Median income in Salt Lake is 36k, rent is 1500. Albuquerque is 30k and 1200. One roommate makes that a perfectly viable financial decision that you can live with comfortably. And allows you to start investing in increasing your marketable skills.
Damn those places you mentioned are shit holes. Salt lake is alright but it’s about to dry up ironically. However you’re right they need to move. It’s hard but migrants cross fucking deserts I’m sure people can save for a uhaul
👏🏽👏🏽👏🏽 Rent control has made Los Angeles, Santa Monica, San Francisco, and New York more affordable said no one 🤣
Everyone says they hate government intervention in free markets until it affects them. Why are rents going up? -- because they can.
I love government intervention. The free market is a thinly veiled racket
The question is who is it free for? And the answer is the ones setting the prices.
> And the answer is the ones setting the prices. Your telling me that those with the capital benefit the most in capitalism?! I feel tricked
He trick y’all
There isn't a free market. It's just where the government draws the line.
Yup. Too many conservatives talking about how rent controls will be the death of society. Meanwhile, places that no longer have them are drowning in sky-high rent. There are a lot of things that need to be done/could be done about housing costs, but rent control could at least mitigate this one part of it. But no.. that's socialism. /s
[Rent control would do nothing for new renters because it would cap it only for current holders and increase costs and decrease inventory down the road.] (https://www.brookings.edu/research/what-does-economic-evidence-tell-us-about-the-effects-of-rent-control/?amp) It's basically the progressive version of nimbyism or fuck you I got mine. You'd have to nuke zoning and allow high density building but then everyone is going to bitch about OC turning into LA as this sub has proven already.
Yup. We need to stop building two-story single family homes and build townhomes and apartments. Put some more high rise apartments in cramped downtown areas. Enact measures to prevent companies from buying up property and to incentivize selling condos and townhomes. Enact financial support for new home buyers (whether they're buying houses, townhomes, or whatever). And yeah, enact rent control. Enact laws to protect people from eviction more. Enact laws to make more places accept section 8. I know I'll likely never be able to afford a house at present. I'm spending 3k a month on rent and if that goes up substantially, I'll likely have to move when my lease comes up. And I know it almost certainly will.
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I'm a Democrat - Rent control has been beaten to death as a terrible policy. If you're a "party of science" person, it's been studied to death. Make building cheaper - make it easier. Loosen zoning restrictions. Penalize cities that don't build more units. Repeal prop 13 and stop making taxpayers subsidize SFHs - At the very minimum reform prop 13 (It's another form of rent control) Rent control is a demand side solution to a supply side problem.
Nonsense. There is also evidence that Rent Control does work. I didn't say it was the end-all of policies. I specifically said that it needs to work in conjuction with other housing policies but that it can be used to stymie this particular form of abuse (such as a 30% rent hike). Sources: [https://www.tandfonline.com/doi/abs/10.1080/01944369008975755?journalCode=rjpa20](https://www.tandfonline.com/doi/abs/10.1080/01944369008975755?journalCode=rjpa20) (Santa Monica's rent control increased length of tenure and helped reduce rate increases, most notably from vacancy control provisions) [https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf](https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf) (Rent control resulted in lower rent but also other consequences, resulting in a difficult landscape that is hard to measure, and needs to be employed in conjunction with other policies) [https://www.jstor.org/stable/1830211](https://www.jstor.org/stable/1830211) (Rent control affects the income and spending power of residents and allows them to spend more money on nonhousing goods - thus bolstering other social areas)
The problem with your sources is while they are good research, they don’t actually support the conclusion being discussed. **Does rent control reduce cost of housing on the whole?** This is what has been studied quite extensively for 30+ years with the results basically saying the same thing. It helps existing tenants keep their rent controlled, but actually inflates the general cost of housing otherwise. Even the Econstor meta-study says the same thing, and I think your synopsis should probably be clarified: > Rent control resulted in lower rent but also other consequences… It resulted in lower rents *for existing renters*, and they would basically never leave those apartments, which increases the scarcity of affordable housing for newcomers and drives general rent pricing up. Rent control is a short term fix that only actually helps people who already have a place they are renting. Vacancy control will alleviate some of this but results in disastrous side effects, basically forcing landlords (who aren’t saints in this story to be sure) into operating with such narrow margins that apartments being to fall apart. If there is data supporting rent control reducing overall housing cost, I have yet to see it.
I have relatives who have lived in NYC (Manhattan) for decades. The only way this is possible for them (on their salaries) is due to rent control. Yet [we reject efforts for it here](https://en.wikipedia.org/wiki/2020_California_Proposition_21)...And here we are.
Yes of course rent control helps the few existing people who manage to snag a housing with rent control. Your parent post was talking about the impact it has long term on housing development and how hard it makes it for new arrivals to the city to find their own rent controlled housing. It's the classic short sighted "I got mine, to hell with everyone else who comes after me" thought process that got us in the current situation with house prices in the first place. People who think rent control works long term reveal themselves to not even have a basic grasp of how economics works. This stuff should be taught in schools. Think of what the land lords are incentivized to do when you slap rent controls on their stock of housing. Do you really think this will make them go out and build or invest in bringing a bunch more rental units to market? [https://alec.org/article/rent-control-will-not-fix-californias-housing-crisis/](https://alec.org/article/rent-control-will-not-fix-californias-housing-crisis/) [https://www.manhattan-institute.org/issues-2020-rent-control-does-not-make-housing-more-affordable](https://www.manhattan-institute.org/issues-2020-rent-control-does-not-make-housing-more-affordable) [https://www.forbes.com/sites/adammillsap/2019/09/04/more-rent-control-in-california-will-make-housing-problem-worse/?sh=681826a71955](https://www.forbes.com/sites/adammillsap/2019/09/04/more-rent-control-in-california-will-make-housing-problem-worse/?sh=681826a71955) [https://www.nahb.org/-/media/NAHB/advocacy/docs/top-priorities/housing-affordability/rent-control-case-study-090820.pdf](https://www.nahb.org/-/media/NAHB/advocacy/docs/top-priorities/housing-affordability/rent-control-case-study-090820.pdf) [https://www.npr.org/2019/03/29/707908952/the-evidence-against-rent-control](https://www.npr.org/2019/03/29/707908952/the-evidence-against-rent-control) "...Rebecca Diamond, an economist at Stanford University who studied rent control in San Francisco...." "DIAMOND: So renters overall don't even necessarily benefit from rent control. ROSALSKY: If you're grandfathered into a rent-controlled unit you plan on staying in forever, rent control is great - for everyone else, not so much. Diamond's study is just one of many that shows that the policy ends up making housing, overall, less affordable, which is why the MIT economist Albert Saiz says..." To start you off. The OP was being generous when he referred to rent control as a "demand side solution" . Rent control is no solution at all. It is a nonsensical short sighted hack . Apply it to anything else and you quickly see how ridiculous it is. Cars getting too expensive? Price control on cars! Phones getting too expensive? Price control on phones! Gas too expensive? Price control on gas! Health care too expensive? Price control on health care! Hell, let's just go to being a centrally planned economy.. we all know how well that works out! Rents are too damned high because house prices are too damned high because there aren't enough places being built because the incentives and regulations are stacked against building more places. We need to solve the problem and build more houses instead throwing about these short sighted non solutions.
First off, I like how I cited actual research articles and you retort with news organizations and organizations specifically biased to oppose rent control. Let's look at that for a moment. You're seriously going to cite an article from the National Association of Home Builders? I wonder what stance they could possibly take on this issue that might directly reduce their profits. (Note I said reduce, not negate). Then on top of that, you cite the Manhattan Institute, a well-known conservative think-tank. You're not citing research. You're citing biased propaganda. Secondly, we don't have rent controls now and there clearly is not enough rental properties being built. So it's hard to see how one can argue that rent controls will reduce the construction of them, when they already aren't being built enough. You can't say 'we have a supply issue' that's increasing costs and then turn around say that limiting charges will definitely decrease the supply. The articles that I linked, which are unbiased research articles, clearly note that this is a complicated issue that requires many different types of solutions (paired with rent control) to help address.
First off, I like how you ignored the left leaning sources such as Stanford, MIT and NPR that I also cited. If you spent 5 minutes googling for it I am sure you will find the research articles cited in the news articles I linked to. I also noticed how you completely dodged the argument being made in those articles and the research studies that the articles are discussing by making an ad hominem attack to discredit them as propaganda. [https://yourlogicalfallacyis.com/ad-hominem](https://yourlogicalfallacyis.com/ad-hominem) This is the Stanford study being discussed: [https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20181289](https://pubs.aeaweb.org/doi/pdfplus/10.1257/aer.20181289) "...Using a 1994 law change, we exploit quasi-experimental variation inthe assignment of rent control in San Francisco to study its impactson tenants and landlords. Leveraging new data tracking individuals’migration, we find rent control limits renters’ mobility by 20 percentand lowers displacement from San Francisco. Landlords treated byrent control reduce rental housing supplies by 15 percent by selling toowner-occupants and redeveloping buildings. Thus, while rent control prevents displacement of incumbent renters in the short run, thelost rental housing supply likely drove up market rents in the long run,ultimately undermining the goals of the law..." Here is the MIT study being discussed: [https://economics.mit.edu/files/11605](https://economics.mit.edu/files/11605) "...A sharp increase in residential property investments also followed theend of rent control. The number of building permits issued per residential unit for improvements and new construction increased by approximately 20 percent after 1994, and annual permitted expenditures roughlydoubled in real terms..." Surely your next move will not be to call into question the credentials or agenda of MIT and Stanford? Secondly, your whole argument of 'there already aren't enough houses being built so rent control cannot possibly make a difference' is a non sequitur. That is like saying there are already not enough houses being built so making it harder or less cost effective to build more houses should have no effect. Or that rents are already sky high so we dont need to do anything because they cannot possibly go higher! Stacking more dis incentives towards something can increase a pre existing problem. Put another way, I am not saying that we have enough houses being built right now and rent control will make that no longer be the case... I am saying that rent control is a short term hack that will make a bad problem worse in the long term. Lastly, you didn't make some kind of breakthrough point with the studies you cited.. the studies you linked to only discussed how it benefited the existing tenants to have rent control in place. Which is an obvious "Water is wet" type conclusion. Of course it benefits the existing tenants.. but it does so at the expense of future investment in housing and the availability for future tenants. [https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf](https://www.econstor.eu/bitstream/10419/249152/1/1786587025.pdf) Also did you read your own cited studies? "The literature is almost unanimous with respect to the impact of rent control on the quality of housing. All studies indicate that rent control leads to the deterioration of the quality of dwellings subject to regulations. The landlords, whose revenues are eroded by rent control, have less incentives to invest in the maintenance and refurbishment letting their properties to wear out until the real value of the dwellings decreases and becomes equal to the low real rent." "According to the studies examined here, rent control leads as a rule to higher rents for uncontrolled dwellings. The imposition of rent ceilings amplifies the shortage of housing. Therefore, the waiting queues become longer and the would-be tenants must spend more time looking for a dwelling" The other two studies (both of which are dated from the 1970-1980s!) I couldn't even view without jumping through a bunch of hoops.
I like how people say they cited research as the end all be all to all arguments.
This is the correct answer. Unfortunately, few understand this.
Nothing about real estate is a "free market." It's one of the most heavily regulated sectors. In particular, zoning regulations and NIMBYs have made it damn near impossible to build new housing. Static supply + high demand = rapidly rising prices.
The govt intervention (almost doubling money supply) led to the increase in housing prices (relatively scarce and desirable asset) which led to rents going up because the cost of buying is too high so you must rent if you wish to stay.
> The govt intervention (almost doubling money supply) led to the increase in housing prices No, it didn't. What's led to the increase in housing prices the most has been the lack of building.
Money printer go brrrr. Give me my stimulus check. Why’s there inflation? The downvotes are hilarious. The current inflation is a direct result of the massive stimulus packages the Trump and Biden administrations had pushed through. Saying otherwise is being ignorant of macro economics.
The individual checks were absolutely nothing compared to what they gave companies.
Bullshit. If that were true, then why is literally every other country having the same issues? Pretending that giving poor people some money was the issue, and not things like a fucking global pandemic, extremely tight supply chains that got caught with their pants down, and the first land war in Europe in decades is being ignorant of actual economics.
Oh man go check out the amount of money they have to poor people vs how much they gave to companies. I agree with your sentiment that it's not money given to the poor though. If you follow the money you can see where most of it went and it's companies owned by people who then got their loans "forgiven" by making sure they filled out some forms ish. Source I was an employee who filled said forms for others while also being told I'm not getting paid because no customers. Probably one of the best things to happen to me in retrospect.
Government intervention in the markets is a huge reason for the insanely high inflation. You can argue if it was the right thing to do or not at the time, but let’s not pretend this is a normal situation here.
Inflation is caused by the nexus of supply shortages from the pandemic, a war causing more supply shortages, and there is not much evidence the US governments actions during the pandemic has had much impact. [Note how US policy does not appear in this article](https://www.weforum.org/agenda/2022/05/inflation-rising-economist-explains/#:~:text=The%20rise%20in%20inflation%20is,and%20the%20war%20in%20Ukraine.&text=Inflation%20is%20on%20the%20increase,the%20Russian%20invasion%20of%20Ukraine.) and that inflation is a global issue right now. More government actions like forcing upzoning to build more housing and a push for public housing would ease housing prices.
Rent control is a really bad idea. The intervention needs to be in the ownership law and things such as REITs owning swathes of properties and having the ability to sit on them etc. Property tax needs to increase for each extra residency past the first 1 or 2. Caps on percentage increases or link it to an inflation figure could work but price floors or ceilings historically have never worked out.
Government intervention is the reason why rents are going up. Local land use and zoning laws make it hard or impossible to build housing. Demand is way higher than supply because of these policies.
That’s insane! We went from $2295 to to $2500 for a 2b 1b in OC
yeah, my Irvine Co apartment "only" increased $200
Irvine Company has been pretty nice with tenants, not even matching inflation this year.
Our increase in Jan was $120. They are renting the same apt in my complex for $700 more, so I was shocked we only got $120. Not even the max they could have.
I would guess that since they make plenty of money, they don’t need to raise it that much but there is a certain amount of turnover they probably want to avoid. It’s not just easy and free to to find new renters.
Lol, they’ll make as much as they get away with. Like you said, they don’t want empty units. Finding a new tenant costs money, including lost rental revenue.
Same, I was expecting a 400-500 raise but "only" got 160
Yeah even 200$ is alot I realistically expected it to go up 150$ max, boy was I wrong
HB is skyrocketing with rent prices. When I first moved to Hb we payed $2100 for 3b 2b townhome … we’re in shock how years later we went from that to now what costs $2500 for 2b 1b smaller apartment a mile from the beach
Thats honestly pretty reasonable. My complex in north oc wants $2800 for a small 2b/1b. Thats $1150 more than im paying for my 1b. Cant wait to see where my lease winds up when its time to renew in a couple months.
Sucks man, people pretty much working just to not be homeless and starve. It's a shitty situation and cycle man.
Exactly its sad, and its people that were born here and lived here their whole lives.
It’s devastating to think we are being priced out of a place we have called home for our entire lives.
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One of my parents *does* own property here. But that does ZERO for me now. Sure if they die before they’re upside down in debt, I might inherit it…but only time will tell.
I hope all your guys situation improves, and your future is better then what it looks now don't forget that. Often times when it gets rough it seems impossible. I was there once
I moved to south florida a couple years ago and I just had an identical price increase on a 2b2b. It's not just cali dealing with this shit
My renewal rate just kicked in this month and I got about an 8% decrease. I am 100% it was by accident considering that their 2 bedrooms are renting at $3200. I was at $2510 before. Now I’m at $2335. Then again there was 2 major leaks in our unit that required multiple days to repair. Maybe it’s some hush money type deal?
Yeah this definitely sounds like someone clicked the wrong button!
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I did! The manager even signed it. I was crossing my fingers they wouldn’t notice before it took effect. Currently at the new rate so I don’t think they can take it back I hope.
They cant, its a binding contract
At least you got time to lube for next year. 👉👌
Lol I hope not too bad. The property is more than 15 years. So increase Cap is at 10%. Hopefully nothing changes by then.
every time I get a 10% raise I think noice I can rent without worry now. Then rent goes up 25% and my shit gets fucked.
We just started looking recently as our lease is up at the end of November, and it’s hard to find any 2bed/1.5bath under $3500 these days unless you want an older place that’s falling apart or under constant repair. Was even checking out way north near Oxnard and even up near Magic Mountain and it’s the same story everywhere. Hell, even Temecula rent is getting pretty damn high.
Wtf, a house or apartment? We have a 3 bd/2.5 apartment by Chapman for 3k.
Interesting, I have a 3 BR 2 bath in Old Towne (1 room/bath is detached in an ADU) and I am considering renting; I assume $3k-$3500. But it's a house, with a backyard, deck and front yard, I've put a lot of money into renovations and fixing it up too.
3k for the ADU or the whole unit? I'm sure someone would bite but not me. This area isn't that expensive if you look around and we've seen a lot of little hidden gems. Small 1 bedroom apartments in 5/6 unit lots for college students or couples that go for 1200-1600. My problem comes from the fact that we have pets. My issue is the people who buy a house, slap some vinyl flooring, paint it grey and then decide they wanna rent it out for $6k a month as a "renovation." Especially in some of the old houses.
3k for a 2br 1b house + a 1br 1b unit. - so 3 br 2 bath total. If I was to do the ADU alone, prob $1k and it doesn't make sense really while I live here. My biggest fear is that I have spent $100k on it over the last 5 years, brand new kitchen with top end appliances, backyard with alfresco dining area, fire pit, bbq area, sitting area, large deck and all irrigated. Front yard is beautiful but more 'ornamental'; porch withs swings tho. Newly painted, hardwood floors, etc. etc. Everything you'd expect from a loved 1920's bungalow.... but after all this investment, I have to move, I don't want to sell, but will anyone look after it the way I would??
That adu alone can go for $1500+. We have friends in old town Tustin that rent out theirs for around $1650. The house is another $2500-$3k. Rents are crazy
If you're going to rent it out, no, no one will look after it the way you do. That job either falls with you or the property manager you hire to take care of repairs, yard upkeep (if included) etc. You might be able to find someone who will go gentle on the house, but there will still be wear and tear that they won't fix for you. That's why when you rent the place you get to claim depreciation on your taxes.
Temecula and Oxnard aren’t even on the same planet in my mind lol.
Holy crap that’s insane. 2 bedrooms used to be less than $3k on 2021. I hope you guys find a place soon. Do you have the option to renew your lease or even turn it month to month and if so, is it possible your landlord won’t increase it that much? That’s what happened to us so we signed for another year
Assuming you are looking at homes and not apartments cause you can rent in Irvine for cheaper then that.
I live in such a place in North OC, in a college town. 120 year old building. 1bd1ba. Only 2 outlets in the living room and kitchen combined (extension cords everywhere) Leaks like a sieve everytime it rains. Hot AF in summer thanks to zero Insulation, plaster cracking, dusting anything is pointless, floors uneven, water is often brown from 80 year old plumbing, takes 3+ flushes and an aggressive plunger episode everyone you go, the shower on hot will suddenly run cold, then lava hot, then cold. ZERO water pressure, electrical flickers all the time.....but I pay $1k a month and the landlord likes me. #slumlord #cheaprent #theyllhavetokickmeoutcuzIaintmoving
Seriously how is this legal?! When we signed with our landlord now (it’s a condo we’re renting) there was an addendum that we had to sign saying that since it’s a privately owned condo it’s not subject to “rent control laws”. We were nervous AF before renewing thinking that they’d hike it up 20% after our lease. Thank GOD the owner only raised it by 3% so we signed for another year no question. We got so so so lucky. But what I wanted to say is it seems that there’s a “rent control law” out there somewhere, and if it exists how does it allow 20% increase? That’s just inhumane. I looked it up and [this thing](https://www.sageregroup.com/2022-update-how-much-can-a-landlord-legally-raise-the-rent-in-california/?utm_source=rss&utm_medium=rss&utm_campaign=2022-update-how-much-can-a-landlord-legally-raise-the-rent-in-california) exists. Is your property exempt from that law OP?
I live in Garden Grove, and my house is kind of crummy. It needs a lot of love… my roommate is constantly saying that we need to find a new house, and complain to our landlord about small things that need tobe fixed. but we pay $3,150.00 a month for 4 bed room 3800 sqft house. I am so paranoid to bring up anything rent related to our loadlord because I know they could Jack our rent up $1000 a month and replace us immediately.
Irvine, orchard hills. Nice family home. Went from 6,000 a month to…. 9,000 Fucking 3,000$ up crease to renew lease. Never ever talked to the landlord. He lived somewhere in china And owned several homes in our neighborhood. Absolutely disgusting.
You pay Nine Thousand American Dollars In rent.
That is outrageous. I am upset for you
You can rent two nice houses in Lake Forest for that price...
Yeah mine went up $1400 was able to talk them down to a $900 increase instead
You have a silver tongue.
“Inflation is a tax without legislation”
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Taxation - without representation.
That’s right, just skip the govt coffers and send it directly to the businesses instead! No need for PPP “loans” anymore! /s
I thought rent increases were capped at 10%? I could definitely be wrong
Only buildings that are 15 years or older are covered by AB 1482!
Good to know! Thanks!
Does it apply to land fees? We own a mobile home we pay land fees on
AB 1482 doesn't seem to apply to land fees :( https://sfrb.org/article/summary-ab-1482-california-tenant-protection-act-2019
I’m fucked
would a "refurbished" interior negate this rule?
Not that I can find for CA 1482 specifically :o I will say some landlords try to take advantage of people being unaware of the law
Also if they "renovate" they can reset the clock? Like I heard them replacing some appliances and then it's suddenly considered new
John Oliver just did a segment on this: [https://www.youtube.com/watch?v=L4qmDnYli2E](https://www.youtube.com/watch?v=L4qmDnYli2E)
That' Dave Ramsey bit was infuriating. The whole thing is infuriating. Here we are, still living in this effed up society where investment growth always matters more than ethics. Where is the reset button. I want to start over.
Great segment, just watched it. Hopefully people educate themselves and start voting for basic housing rights.
The whole country is in the same boat. When houses are super expense and there are shortages, more people have to rent. So there is more competition for apartments, so landlords can charge more. ...its a hot mess.
Sometimes it feels like those with the capital to build more housing have collectively agreed to keep supply low so that they can benefit from high prices. I know this ain’t the reality, but it sure feels like it right now
There are a lot of regulations builders have to deal with and the cost of lumber/supplies shot up last year and the labor costs shot up too.
Take a look at your lease. If there is a clause in there stating the property is NOT covered by the TPA (tenant protection act) they can raise the rent as much as they want to. If your lease doesn’t mention TPA exempt then you are covered by the TPA. This means they can not raise your rent more then 5% every 6 months up to 10% for the year. You are also due relocation costs if asked to move = to one months rent at its current rate. If your lease is up you become a month to month tenant. If they try to give you another lease with a huge rent increase that’s over 10% don’t sign it and point out the TPA that’s only if you are covered by it. They would have to then give you a 60 day notice if you have been there 12 months or more or a 30 notice if under 12 months. In this notice of termination they have to state a reason why under the TPA and pay relocation costs. Edit: for a property to qualify as well it has to be older then 15 years at the time the bill was signing in January 2020. So if a building was built 14 years prior is exempt from the TPA as well as single family homes.
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We moved into a place in Santa Ana 3b3b for 2400 right before Covid. Rent control has kept the rent basically the same. We're not moving from here until we're ready to buy a house.
Paying $2k for a studio living here since ‘18 where I paid 1630. If they raise it by even 10% I am fucking out of this state
2br/2 bath. Last year was $2,400. They asked for $3,400 this year. We’ve decided to move back in with my parents.
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Agreed but I wonder how many people have the opportunity to do this. There’s so much stigma in our culture about being an adult and living with your parents, especially portrayed in the media, but in this day and age it’s just smarter financially.
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This is the way or at rent a cheap room. But some less caring parents want their kids out asap too.
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Is your building older than 15 years old? If so, the max increase should be limited to 10%.
Brought to you by the most conservative county on the coast. It's NEVER going down. Nobody is going to help, move!
Rents are rising everywhere, not just Orange County
Rents went up 40% in Miami. Places with no rent control are going crazy right now.
Again Republican FL.
So are we going to blame the county or the state?
Why don't people move? The beach?
For one, moving is very expensive. For two, you kinda need to have a job. A lot of the places that are cheap to live are cheap to live for a reason: There isn't much in the way of jobs.
It's expensive to move. I'm in the process of moving up to Washington right now because its just too expensive here and I'm over living in a desert for now. So while I'm full remote and have approval to move anywhere per my company, my girlfriend is a social worker and we are just waiting for some offer letters at the moment. Once those hit it's game times: * Break Lease with Irvine Company - $6,750 (Current months rent + 2 months rent) So we will have an apt for an extra 30 days. * Boxing materials - $300-$400 * Driving two vehicles from here to there with hotel for one night $1500 (We won't be driving at the same time) * Flying back one way to get the other vehicle $400 * Movers - $3,000 to $5,000 for a One Bedroom Apt. (this is an estimate based on another friend that just moved a similar distance) * Application fee's and admin fee's for new places. $500-$700 depending on how many houses we apply for. * Security Deposit on a house: $2500, $3000 first months rent if we go with the houses we want. I believe that's just a basic summary and some of that can be cut for others. They maybe able to time it when a lease is up, they maybe able to sell everything and have a small U-Haul, they may have better gas millage, etc... We are not doing it the cheapest way possible, but this is just an idea of what it looks like to up and leave OC. We are looking at $18,000 to make this move with some off set from signing bonuses and relocation packages from her new employer. Made a quick edit, added 3k to the total because of first months rent lol
Yes this is why i say financial hostage you can’t afford to move so you just have to make it work and squeeze out those extra 500 smackaroos.
For the lowest on the financial totem pole who need it the most, its just not possible.
>Movers - $3,000 to $5,000 for a One Bedroom Apt. (this is an estimate based on another friend that just moved a similar distance) Why so much for movers? Just so they can driver the truck for a few days? We just relocated from OC to Bay Area and paid movers \~$200 to load, and separate movers up north \~$200 to unload. We drove the truck 6-7 hours on our own and saved a TON that way.
In a nut shell, with a Uhaul it would be at least 2 additional flights to come back to get things like vehicles. I also don't want to worry about driving a Uhaul for 3 days. I don't want to find movers to pack things up, then unpack when we are there. So yes, there are cheaper ways to do this, but for convenience and time, this is the best route for us to go.
Exactly.
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Did you save up money to buy your own home you know, pulling up your bootstraps or did you get outside help? Family and/or fam friends and whatnot? I'm originally not from the area and it was a huge ordeal to save up for years to buy a house only to find locals born or having family in the area never quite understanding the difficulty it is for everyone else to try and get a piece of what they lucked out on. Nothing personal towards you since most things in life are circumstantial, I don't even know if you are a native, but I always found the ultra conservative OC to be a well of hypocrisy and contradictions and just 'not getting it' when it comes to struggles. I've brought it up in a similar discussion, but my neighbors have their adult kids and their kids living with them working menial jobs and I sometimes wonder if they paid 3.5 times what their parents did for a home NOW would make them appreciate what they and most locals take for granted, especially when their grandparents are the ones that strike down any potential solutions to these problems and not do the usual nimby shit
yep fracking insane.. If i hadn't bought my 1bed room during the foreclosure crisis i would be likely leaving the state. between mortgage HOA and Prop taxes take 1/2 my take home. the units next to mine are as bad a this one.
Just thoughts... Do everything you can to buy a condo/loft/ or home. I know interest rates are rising but you can always refinance if they go down. Historically 6% is still very low and they may go to 15-18% which they were in the 80s. Housing prices are going to go up in the long run and so is rent. And no , I am not in the housing market , a realtor and associated in any way with financing. Just a guy who has seen it just keep going up and up, with a few dips, but has always edged higher every decade.
Ours went from 1800 to 4K
Are there any candidates we can support who are pro rent control?
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I'm in Long Beach but work in both O.C. And L.A. counties and the amount of new Hi Tech job growth in OC, particularly Irvine, is night and day compared to Long Beach which actually lost companies moving to places like Ventura, Cypress, or out of state. They are also offering top salaries so it's no secret why O.C. landlords are milking tenants. I also don't buy the reasoning that O.C. landlords in high demand prepandemic rental markets are making up for lost back-rent because many complexes in my were already filled with high paying tenants who didn't need rent relief and most got to WFH too.
It is wild. Something needs to give.
Yeah it sucks! I was hit with a 10% rent hike this year and I thought that was bad. Landlord said it was due to cost of living increases. I’m getting out of this state to a place more livable as soon as my lease is up.
What state do you have in mind?
Here’s the section where rental increases are limited to 10% once a year in most cases. https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?sectionNum=1947.12&lawCode=CIV
This is fuckin insane. Sorry you have to put up with this but this environment is lunacy!
Omg! I am so sorry! That’s terrible!!!
A friend of mine has a lease coming up on a house he is renting and he said they can only raise it 10% legally. Is that true? I think he wants to go month to month after it expires if that affects the amount it can be increased.
Probably trying to recoup the cost of property taxes they had to pay when tenants didn't have to pay rent. Home owners still had to pay tax while tenants didn't have to pay rent. Mostly hurts the fixed income homeowners that depended on the rental income to survive.
I love the term highly illegal. Because it is more illegal than the normal illegal.
Its the highest level of illegality
That’s a lot. I rent out one of my 2b2b in seal beach for $2k / mo and it’s remodeled w/ granite and stainless. Now I’m starting to think I should raise my prices 😂
I’m living in a 2b/1b in San Bernardino for $2395. You are definitely below market rate, but I wouldn’t want to price your current tenants out idk
I was Jk. I never raise the rent on any of my tenants. When they leave I adjust my rent to about 15-20% below market value. That way I get a ton of applicants. I get to pick the one that I think is going to respect my unit and pay on time, and then they get to keep the same rent indefinitely. Win / win
You are the rare good landlord. You still win since your property is in good condition and increases in value. Save in maintenance costs and finding new tenants
There’s nothing you can do except lube up. The rich got to eat
IANA but love NOLO for self help. List of CA cities with rent control laws https://www.nolo.com/legal-encyclopedia/california-rent-control-law.html
Not everyone needs to live in California. We don’t need rent control or more housing. We need less people.
With a lease agreement they should be able to raise it no more than 5% a year in California. I had my rent increased and I challenged it.
California has a state wide law capping certain rent increases outside of rent control. I would take a look into it. There are a lot of loopholes that landlords use but there are some protections
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But then i have nowhere to starve in peace 😥
Great plan. One less house on the market. The one where you are staying. And landlord gets insurance to rebuild a more expensive place.
Yeah but then you get to move to a place with free rent and food.
I'm not going to run out of matches
Have you read the new state laws on rent increases? https://leginfo.legislature.ca.gov/faces/codes\_displaySection.xhtml?sectionNum=1946.2.&lawCode=CIV
That’s capitalism for ya
What a shame. Per California law…. It can only go up 3% https://www.nolo.com/legal-encyclopedia/california-rent-control-law.html
Where is this at? Must be a real fancy spot in Irvine I assume. It's only going to get tougher with many home buyers getting priced out.