Posts Tagged ‘High’
Advice for San Francisco Newcomers: What’s “Rent Control?” It’s Something You Might Want – Not Now, But Next YearFriday, January 2nd, 2015
Or not. It’s hard to say how much rent control would benefit you next year once your lease is up.
But these days, there’s a ton of SF newcomers who are just figuring out the big benefit of RC.
“Unfortunately most residents can’t afford to stay longer that 1 year. We’ve been living at Argenta for 10 months and have been very happy with the apartment. But we began to suspect that things weren’t quite right with management shortly after moving in. People we met in the elevator, lobby and our floor were all saying the same thing — rent had been raised to ridiculous heights and they were moving out. Over the last 10 months we have watched many of the tenants on our floor leave because of the rent increase.”
So that’s what you get with your brand-new building – a huge rent increase after your first year.
Generally speaking, older buildings have rent control and newer buildings do not. One exception is federal land, like Treasure Island and The Presidio. In those places, you can live in an older building but still get with huge rent increases.
Of course, it always pays to check.
Here’s a test – can you tell which places are rent controlled?
You see, it’s hard.
I don’t think sugar-anything would be a good name these days…
ATTENTION RESIDENTS OF THE NEW “NEMA” BUILDING: A Massive Rent Increase is Coming Your Way – ‘Cause No Rent ControlTuesday, November 4th, 2014
But don’t take my word for it, listen to one of your neighbors at 8 Tenth Street, 94103, via the Yelp:
“Please read this if you are considering any non-rent control building in San Francisco. I wish someone had told me this when I moved to the city and chose Nema. Please consider this advice.
If you have visited Nema, you probably can tell that the management, amenities and staff are outstanding. You may also notice that everyone living in the building has just moved from another city or state. Here’s why:
UNDER NO CIRCUMSTANCES should you rent in a non-rent control building, unless you can sign a multi-year lease. Could you afford a double digit rent increase? 50% rent increase? Is your income doubling next year? It seems far away now, but you will probably want to renew your lease. Now is the time to make a good decision about housing, not next year because you will be paying much more then.”
So basically, buildings built AFTER rent control came to San Francisco in 1979 don’t have no rent control. (The relevant date is printed on your landlord’s Occupancy Permit, but if your crib went up in 1980 or later, don’t even bother checking.)
That means that your friends renting units in older buildings will face a maximum annual rent increase limited to 60% of a certain Cost of Living Index dealing with the Bay Area. That means one-something percent per year.
OTOH, if you moved into the NeMA at $1950 per month last year (as some did, 2nd or 3rd floor, lousy view* – Unit 324, for example**) and your lease is coming up, consider that there are no units available now for less than $2800 (I’m srsly – some studios go for $4000+)
Are you, the NeMA renter, looking at a 40% rent increase soon?
If not this year, what about the next year too? How long will it take to have a 40% increase for your unit, you know, cumulatively?
Sooner than you think Auslander.
Sooner than you think, Outlander.
Why don’t websites aimed at tourists and newcomers tell you this? Well, because they’re on the take from … The NEMA!
I assign this story to the San Francisco Chronicle – this one writes itself. (This would be a good CW Nevius, I’m seriously.)
*Compared with the rest of the units in the Nema.
**This was not a BMR (Below Market Rate) unit reserved for those people making less than $38,000 per year, no no. Those places went for around $950 per month. I’m talking about market rate units back when market rate was $1950 per month for the least desirable apartments at NeMA – that was all the way back in 2013.
[UPDATE: Welcome NIMBYs! Here’s a little reading for you, just keep on paging down…]
Here’s a US Coast Guard Dolphin helicopter heading north on its way to attempt to save the life of a person up in Marin County.
As seen over Ocean Beach, which was closed to swimming yesterday, owing to high surf conditions:
Someday maybe San Francisco will have a hospital with a functioning helipad…
How Mercy High School Makes a Few Extra Bucks: Hosting Lots of Cell Phone Tower Antennas on the RoofThursday, September 11th, 2014
MERCY HIGH SCHOOL (Students: 500; Location: 3250 19TH AVE; Grades: 9 – 12; Girls only)
This Year’s Senior Prank at Lowell High School was Somewhat Racist: Sort-Of-Believable “Mandatory Penis Inspection”Wednesday, May 7th, 2014
This one was customized for Lowell, you’ll see:
Click to expand