Is this worth $850?

TravisTheSky

For two years, I've paid $900 per month for rent with all utilities. My lease expires on Tuesday. Rents have fallen in the area, I could find a smaller place for less. The building I live in has been offering new tenants a rent of just $795 for several months now. I have been pleading my case with the manager to renew my lease at that amount. The unseen owner who makes the final decisions has refused. She will renew my lease at $850. Tenants are leaving in droves, but the owner seems fine with high vacancy. She is trying to 'class the place up' by only accepting people who can pay a high rent. The delusional manager made it sound like he was doing me a giant favour by letting me pay only 850. He said, "The minute this economy turns around, rents are going right back up!" Turns around?! We are heading into a brutal depression! I'm lucky I can still eat, let alone pay rent. *sigh* But since I can still pay rent, I can't find it in my heart to move. This is the quietest, most private apartment I've lived in.
And look at my view:



I'm in Love!!! That's looking northeast. Southeast, I can see the towers of downtown L.A.

Biggest Wave

1 Bedroom? 2 Bedroom? Studio?

What are the specs?

pearljgirl2010

I live in Hermosa Beach, and know the feeling!!!! Actually, last year our landlord DEcreased our rent without us even asking...we were floored.

If it's quiet, nice, and has everything you want, then I'd go for it.

norm

if the only negative to the place is the rent (which will be lower) then i'd stay

81

if they are giving new people 800, i'd move on principal.

Heatherj43

TravisTheSky wrote:

For two years, I've paid $900 per month for rent with all utilities. My lease expires on Tuesday. Rents have fallen in the area, I could find a smaller place for less. The building I live in has been offering new tenants a rent of just $795 for several months now. I have been pleading my case with the manager to renew my lease at that amount. The unseen owner who makes the final decisions has refused. She will renew my lease at $850. Tenants are leaving in droves, but the owner seems fine with high vacancy. She is trying to 'class the place up' by only accepting people who can pay a high rent. The delusional manager made it sound like he was doing me a giant favour by letting me pay only 850. He said, "The minute this economy turns around, rents are going right back up!" Turns around?! We are heading into a brutal depression! I'm lucky I can still eat, let alone pay rent. *sigh* But since I can still pay rent, I can't find it in my heart to move. This is the quietest, most private apartment I've lived in.
And look at my view:



I'm in Love!!! That's looking northeast. Southeast, I can see the towers of downtown L.A.

U live here for only $900 a month for everything?? WTF! It is so cold out right now where I am, and I pay a whole lot more. So, how do I get to rent where u are again? I'll take it at the price u pay!

justam

If I'm reading your story correctly, you'd still be paying $50 less with your new lease than you have previously been paying.

If you like the place, it seems better to stay than to waste money moving.

milarso

TravisTheSky wrote:

I can't find it in my heart to move. This is the quietest, most private apartment I've lived in.

Sounds like you already know the answer to your question.

Whizbang

justam wrote:

If I'm reading your story correctly, you'd still be paying $50 less with your new lease than you have previously been paying.

If you like the place, it seems better to stay than to waste money moving.

That's what I'm reading. The landlord agreed to renew the lease at $50 lower per month than what you've been paying. You like the place, like the view and the quiet. I'd stay put.

lukin2006

TravisTheSky wrote:

For two years, I've paid $900 per month for rent with all utilities. My lease expires on Tuesday. Rents have fallen in the area, I could find a smaller place for less. The building I live in has been offering new tenants a rent of just $795 for several months now. I have been pleading my case with the manager to renew my lease at that amount. The unseen owner who makes the final decisions has refused. She will renew my lease at $850. Tenants are leaving in droves, but the owner seems fine with high vacancy. She is trying to 'class the place up' by only accepting people who can pay a high rent. The delusional manager made it sound like he was doing me a giant favour by letting me pay only 850. He said, "The minute this economy turns around, rents are going right back up!" Turns around?! We are heading into a brutal depression! I'm lucky I can still eat, let alone pay rent. *sigh* But since I can still pay rent, I can't find it in my heart to move. This is the quietest, most private apartment I've lived in.
And look at my view:



I'm in Love!!! That's looking northeast. Southeast, I can see the towers of downtown L.A.

Uh, yeah I would, they are calling for -3 and snow by weeks end in my neck of the woods, I would much rather be in your neck of the woods and I pay a ton more.

Music For Rhinos

Here's what I would do:

I would stay for the time being, pay the $850 a month and basically wait it out for a few months to see if more tenants leave.

Maybe by then, if this happens, pleading your case to get the rent down to $795 will be easier. Even if you don't, you're still paying less now than what you've been used to paying for 2 years.

JaneNY

Its business. Businesses will price something lower to bring in new business. You have to weigh how much you're willing to leave the place if you want to bargain. If you find a new place, you can tell the owner that you're planning to move out on such and such day/month unless he/she will give you the 795 rate, but you must be prepared to follow through. Money talks and he might give in if you are fully prepared to leave.

TravisTheSky

lukin2006 wrote:

Uh, yeah I would, they are calling for -3 and snow by weeks end in my neck of the woods, I would much rather be in your neck of the woods and I pay a ton more.

Weather is one of the main reasons I moved from Rhode Island! I should have moved in November of '07, because it was already in the twenties with snow and ice when I moved on December fourth.

---

I don't know how to reply to multiple posters in one post, here are my responses:

The apartment is only a studio, but it's not one room. It has a full kitchen/dining room. I've got a big table in there, plus extra shelving units, plants, pets, etc. The main room, dressing room, and entry hall have plush wall-to-wall carpet. There are three closets, a built in dresser, and 9 cabinets. There's an old, deep soaking tub plus a shower. One wall has exposed brick, showing the fancy architecture from 90 years ago.

I live in Mid Wilshire, Los Angeles. Thousands of apartments are available. It's right on the subway line.

Half of me wants to give an ultimatum. But then I really will need to move! I will stay on in a month-to-month for now at $850. As more tenants leave, I will continue to offer $795 in hopes that the owner will see sense.

I will look at a few cheaper places, just to understand what the reality would be. I don't have any money to pay for a move, even if a lower rent saves money long-term. I have four mice and a guinea pig- not the types of pets most landlords are comfortable with.

I want to have a cake, and eat it too...

lukin2006

TravisTheSky wrote:

lukin2006 wrote:

Uh, yeah I would, they are calling for -3 and snow by weeks end in my neck of the woods, I would much rather be in your neck of the woods and I pay a ton more.

Weather is one of the main reasons I moved from Rhode Island! I should have moved in November of '07, because it was already in the twenties with snow and ice when I moved on December fourth.

---

I don't know how to reply to multiple posters in one post, here are my responses:

The apartment is only a studio, but it's not one room. It has a full kitchen/dining room. I've got a big table in there, plus extra shelving units, plants, pets, etc. The main room, dressing room, and entry hall have plush wall-to-wall carpet. There are three closets, a built in dresser, and 9 cabinets. There's an old, deep soaking tub plus a shower. One wall has exposed brick, showing the fancy architecture from 90 years ago.

I live in Mid Wilshire, Los Angeles. Thousands of apartments are available. It's right on the subway line.

Half of me wants to give an ultimatum. But then I really will need to move! I will stay on in a month-to-month for now at $850. As more tenants leave, I will continue to offer $795 in hopes that the owner will see sense.

I will look at a few cheaper places, just to understand what the reality would be. I don't have any money to pay for a move, even if a lower rent saves money long-term. I have four mice and a guinea pig- not the types of pets most landlords are comfortable with.

I want to have a cake, and eat it too...

You are probably best month to month and see where it leads. I wish I had the option to mover to a warmer climate, but unfortunately in Canada we can only go so far south,