Author Topic: Declining Rents  (Read 4542 times)

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Offline TestingIrvine

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Re: Declining Rents
« Reply #15 on: August 30, 2022, 04:16:45 PM »
Did rents really drop more in Irvine than the rest of OC or is that another Liarism?

I just heard that rents are still pretty high... where are the charts?

https://www.reddit.com/r/irvine/comments/x1lzie/rent_increase_25/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

Ask LL, he rents in Irvine.

Offline TestingIrvine

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Offline irvinehomeowner

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Re: Declining Rents
« Reply #17 on: August 30, 2022, 04:24:44 PM »
Rents are “pretty high” is pretty solid quantitative analysis.

That's why I asked for charts.

I hear on the radio that while home prices are softening... rates are still too high for people to purchase so that's why renting is still very popular.

Doesn't take quantitative analysis to see that makes sense... and if you look at how many apartments TIC and others are building in Irvine... seems correct.

I mean... some people always say Irvine is in for a slowdown... or pain... no numbers attached there either (didn't someone claim 5% drop was devastating?).
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Offline USCTrojanCPA

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Re: Declining Rents
« Reply #18 on: August 30, 2022, 10:18:23 PM »
Irvine rentals are up about 20% YOY, I know because I do 8-10 private rental listings for clients every year.  I have noticed that the number of rental listings has increased from 150-160 to 170-180 in Irvine but I'm still getting multiple applications at list price and the homes are being rented within 1-2 weeks.  That being said, I think that rental prices will flatten out because they've already gone up so much in the past 2 years.
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Offline Compressed-Village

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Re: Declining Rents
« Reply #19 on: August 31, 2022, 08:49:10 AM »
The declining in a 20 % YOY increase, WTF is LL smokin'?


What planet are you looking at?

Offline zubs

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Re: Declining Rents
« Reply #20 on: August 31, 2022, 02:30:32 PM »
I own a warehouse in Corona that I rent to myself.
In 2019 I leased my warehouse for $8,500/month
In 2020 I leased my warehouse for $9,000/month
In 2021 I leased my warehouse for $10,000/month
In 2022 I leased my warehouse for $12,000/month

I just checked loopnet.com to see how much I really should be leasing this warehouse....
It says $20,000/month.


I should stop working and just collect rents.


oh yeah and pretend to move to TX.

Offline nosuchreality

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Re: Declining Rents
« Reply #21 on: August 31, 2022, 04:19:33 PM »
Irvine rentals are up about 20% YOY, I know because I do 8-10 private rental listings for clients every year.  I have noticed that the number of rental listings has increased from 150-160 to 170-180 in Irvine but I'm still getting multiple applications at list price and the homes are being rented within 1-2 weeks.  That being said, I think that rental prices will flatten out because they've already gone up so much in the past 2 years.

The alternative is paying $3000/mo for a 2500 sf 3 bedroom in Perris.

Offline HMart

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Re: Declining Rents
« Reply #22 on: September 01, 2022, 02:45:23 PM »
I own a warehouse in Corona that I rent to myself.
In 2019 I leased my warehouse for $8,500/month
In 2020 I leased my warehouse for $9,000/month
In 2021 I leased my warehouse for $10,000/month
In 2022 I leased my warehouse for $12,000/month

I just checked loopnet.com to see how much I really should be leasing this warehouse....
It says $20,000/month.


I should stop working and just collect rents.


oh yeah and pretend to move to TX.

I'm going through a business lease for a new location right now and am learning that commercial real estate brokers aren't always the most organized. It's crazy to me considering the dollars are much higher than residential rentals, but the number of people with incomplete/missing LoopNet listings, inaccuracy, unwillingness to call back, etc is insane. In other words, check to see if that $20k number holds water first..

Offline zubs

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Re: Declining Rents
« Reply #23 on: September 01, 2022, 03:13:36 PM »
Would you say $1.00 per square foot per month is market rate in Corona?
Also includes NNN

Offline zubs

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Re: Declining Rents
« Reply #24 on: September 02, 2022, 09:23:09 AM »

Offline CalBears96

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Re: Declining Rents
« Reply #25 on: September 02, 2022, 10:50:38 AM »
This website says it costs $1.55 - $1.99 per square foot per month to rent a warehouse in Irvine.
So my $1 estimate for Corona is probably too low.

https://www.propertyshark.com/cre/industrial/us/ca/irvine/?IncludeCoworking=false&CoworkingWorkspaceTypes=0&Zoom=13&Viewport=-117.82993362475587,33.59369454795456,-117.66805694628907,33.72942883103387&GeopickerType=viewport

It's probably around $1.1-$1.3 in Corona.

Offline Liar Loan

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Re: Declining Rents
« Reply #26 on: September 02, 2022, 12:43:04 PM »
Yeah, a whopping 0.13% decrease after 12.3% increase. Scary!!! Really bad news!!! Housing price will fall by 0.13%. Run for the hills.

A -1.6% annualized decline with inflation running at 10%.  Landlords are getting squeezed by higher costs and lower rents, and this is just the first of what will be many months of bad news. 

Your new neighbors were smart to rent because their costs are fixed, if not declining, while yours are steadily increasing.

Ask LL, he rents in Irvine.

Yep, rent free though.  ;)

The declining in a 20 % YOY increase, WTF is LL smokin'?

The posters here are literally losing their minds.

Offline Compressed-Village

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Re: Declining Rents
« Reply #27 on: September 02, 2022, 02:46:52 PM »
Yeah, a whopping 0.13% decrease after 12.3% increase. Scary!!! Really bad news!!! Housing price will fall by 0.13%. Run for the hills.

A -1.6% annualized decline with inflation running at 10%.  Landlords are getting squeezed by higher costs and lower rents, and this is just the first of what will be many months of bad news. 

Your new neighbors were smart to rent because their costs are fixed, if not declining, while yours are steadily increasing.

Ask LL, he rents in Irvine.

Yep, rent free though.  ;)

The declining in a 20 % YOY increase, WTF is LL smokin'?

The posters here are literally losing their minds.

Looks who’s speaking. I feel really sad for you, my friend.

Offline CalBears96

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Re: Declining Rents
« Reply #28 on: September 02, 2022, 03:58:52 PM »
Yeah, a whopping 0.13% decrease after 12.3% increase. Scary!!! Really bad news!!! Housing price will fall by 0.13%. Run for the hills.

A -1.6% annualized decline with inflation running at 10%.  Landlords are getting squeezed by higher costs and lower rents, and this is just the first of what will be many months of bad news. 

Your new neighbors were smart to rent because their costs are fixed, if not declining, while yours are steadily increasing.

Ask LL, he rents in Irvine.

Yep, rent free though.  ;)

The declining in a 20 % YOY increase, WTF is LL smokin'?

The posters here are literally losing their minds.

Looks who’s speaking. I feel really sad for you, my friend.

LL is so dumb it's not even funny.

Offline The California Court Company

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Re: Declining Rents
« Reply #29 on: September 02, 2022, 04:17:51 PM »
some people just loves to play contrarian

Yeah, a whopping 0.13% decrease after 12.3% increase. Scary!!! Really bad news!!! Housing price will fall by 0.13%. Run for the hills.

A -1.6% annualized decline with inflation running at 10%.  Landlords are getting squeezed by higher costs and lower rents, and this is just the first of what will be many months of bad news. 

Your new neighbors were smart to rent because their costs are fixed, if not declining, while yours are steadily increasing.

Ask LL, he rents in Irvine.

Yep, rent free though.  ;)

The declining in a 20 % YOY increase, WTF is LL smokin'?

The posters here are literally losing their minds.

Looks who’s speaking. I feel really sad for you, my friend.

LL is so dumb it's not even funny.
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