Calling IAC Renters - help me renegotiate

[quote author="sonicko" date=1226115132]Just wanted to let everyone know that we're currently renting in Woodbury and our lease is coming up in a few months. We received a letter stating a $35 a month increase with a 1 year lease extension. Emailed them back and told them that I saw that there was over 30+ units available, the economy was weak, and brand new places across the street were renting for $75 less than what we were paying. Within an hour of opening up they agreed to keep our rent the same and offered us shorter lease terms if we wanted. Win win deal.</blockquote>


Coming up in a few months?? Mine is two weeks away to 30 day notice and no letter. We have talked about it but nothing official. Should I be concerned?
 
[quote author="wendyinoc" date=1234872320][quote author="sonicko" date=1226115132]Just wanted to let everyone know that we're currently renting in Woodbury and our lease is coming up in a few months. We received a letter stating a $35 a month increase with a 1 year lease extension. Emailed them back and told them that I saw that there was over 30+ units available, the economy was weak, and brand new places across the street were renting for $75 less than what we were paying. Within an hour of opening up they agreed to keep our rent the same and offered us shorter lease terms if we wanted. Win win deal.</blockquote>


Coming up in a few months?? Mine is two weeks away to 30 day notice and no letter. We have talked about it but nothing official. Should I be concerned?</blockquote>


There's nothing to be concerned about. You can just give the office a call and set up a time to talk to the manager to negotiate. I know that if they don't have your renewal in place by the time your current one expires, they place you on month-to-month and the higher rate that goes along with that. Good luck.
 
Just got our renewal notice, and our lease is up at the end of March. Their offer was current rent + $5 for a 12 month renewal, or gradually less for signing a longer lease term. I'd already decided to leave, knowing they couldn't make the deal sweet enough. One of the places we're considering is the Woodbury area, a 1+den or 2bd.
 
I came from Woodbury to the Village and will consider going back. I just can't understand why they will give better deals to people off the street. Don't IAC lose money if we move in the system? I mean we lose too but I think they lose more. If we move were more likely to go even lower then if they just tried to work with us??
 
I received 6% discount on my new lease!! I didn't ask them they just send me the notice of lease renewal and the monthly rent with 12 month

lease was reduced by 6%. I rent in westpark area.



- Nomogy
 
I have heard that the IAC rental people can not legally renegotiate anything for the units since they are not licensed real estate agents.

IAC gets away with not having licensed agents by having set prices for all their units.

As soon as one of their employees negotiate anything regarding the apartments they are breaking the law.



Anyone heard this before?
 
[quote author="halfnote19" date=1238628217]I have heard that the IAC rental people can not legally renegotiate anything for the units since they are not licensed real estate agents.

IAC gets away with not having licensed agents by having set prices for all their units.

As soon as one of their employees negotiate anything regarding the apartments they are breaking the law.



Anyone heard this before?</blockquote>


That just does not sound right.

Its not a Real Estate Transaction as in the sense of a "sale".

Its a Rental Agreement. So with that same logic.

Would a Private Owner need a RE license to rent his/her property ?

I think you have heard something Untrue.



But I am sure our Experts will chime in shortly and explain in more detail.
 
What I heard is a private owner does not need a license to rent his/her own property because they are the owners.

You don't have to live there, just own the place
 
I was paying $1950 at Santa Rosa for a 2BR 2Bath Emilia apartment. They only offered to bring the rent down $20 during renewal time. I said screw it and went to Villa Coronado. They offered $1733 plus $500 off move-in and my friend lives there so I would have gotten half a referral bonus. The only thing bad was that it was a 16 month lease. Figured I was going to wait that long anyway to buy a place so I said OK. I told Santa Rosa I wouldn't renew the lease. The next day they offered me $1812 rent plus $500 on next month's rent with only a 9 month lease. I stayed with Santa Rosa because I really didn't want to move in the first place. The next time I want to move is into my own place!
 
Recently I've heard more and more about IAC cutting good deals on renewals - deep discounts off your current rent, weeks free if you agree to an X month renewal, etc. I'm surprised because it's not typically their MO. While it's looking like you may be able to carve out a nice deal on your renewal, it will most certainly be on a renewal for months (6-18). It may take some hardball on your part. I recommend the following: go to a competitor apartment complex, even another IAC offering a great deal (if it's another IAC you should try to find one farther away from your current one) and place a refundable hold deposit on an apartment. Immediately go back to your complex with the hold paperwork and tell them you intend to leave unless they can cut you a better deal. You've now shown them you're an impending loss on their bottom line, rather than a threatened loss. When/if they do agree to more reasonable terms, cancel your hold within the 3 day refund period.





The reason it's better to choose a community farther away is because IAC is composed of a bunch of little fiefdoms. Complexes are grouped together and placed under the supervision of different regional managers, VPs, etc. They are all driven, hungry, and competitive. If your request makes it up to a regional manager controlling both your current complex and the one you are threatening to move to, they may be inclined to let you make that switch, especially if the building you're moving to is hurting more than the one you're in (and of course it likely will be, hence the reason they have the big discount). But if it looks like they may lose a tenant from their portfolio to another regional portfolio, they'll be more inclined to fight harder to keep you. Make those numbers look better and climb that corporate ladder, middle manager!





As far as month to month is concerned, they're not likely to budge. They company as a whole does not want ANYONE on month to month, hence why the price is so high. I mentioned it in another thread...if they do not "punish" month to monthers with a higher rate, everyone would want to be month to month after their initial lease term. You can't establish very stable budgets when your entire residency can leave on a 30 day notice. And when it comes to month-to-month, I've really heard of very few exceptions who've escaped the premium charge.
 
Mojo, that seems reasonable. It may just be a matter of catching the manager in a good mood. I recommend approaching them at the end of the week. They are graded on Monday-Sunday performance. If their numbers look scary toward the weekend, they may dread the thought of taking 1 more notice to vacate on their weekly report.



Goodluck.
 
I just signed up in westpark for 2BR 2ba. First they told me 1735 per month. So I looked around and very next complex

offered me 1620 per month but didn't have the location that I liked so I went back to the first guy and said look what other

complex is offering and he was able to get $1000 off first month and rent is 1715 plus I liked this location.



-Nomogy
 
I finally renewed at the Village at a leasing renewal party..



2 bedroom 2 bath 1150 Sq Feet. Premium Location and View. Corner Unit

I was paying $2260 and $100 additonal for storage.



I am now paying

$2175

$500 off first month rent

6 months free storage. (Won it at the leasing party)



12 month lease





Goodluck Everyone!!
 
Looks like they want to deal these days afterall.



I got the love letter for renewal last month. Basically same rent.

Talked with the Leasing Agent. Now they are down almost $ 100.00

and offering a $ 500.00 off the first month on a 12 Month lease.

Lots of moving trucks this weekend. 4 or 5. And all but 1 was "leaving".



Still need to come down a little more and I will sign.



Wendy I thought you were leaving the Village for Quail ?
 
I was going to leave for Quail had one on hold and everything. My sister also lives at the Village and I went with her to the Leasing Renewal Party. When I won the free storage I went for staying. I am now down 200 a month which I am happy. I would have saved a ton more in Quail, but in the end I was not in the mood to move.
 
[quote author="bltserv" date=1239063257]Looks like they want to deal these days afterall.



I got the love letter for renewal last month. Basically same rent.

Talked with the Leasing Agent. Now they are down almost $ 100.00

and offering a $ 500.00 off the first month on a 12 Month lease.

Lots of moving trucks this weekend. 4 or 5. And all but 1 was "leaving".



Still need to come down a little more and I will sign.



</blockquote>


Just wanted to let you guys know that a friend of mine leases at Villa Sienna. His lease was reduced $200/month AND $500 off first month rent.



Not bad @ all :)
 
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