IAC Apartment Lease Renewals

[quote author="usctrojanman29" date=1252048715]

That's why I'm happy that my lease expires at the end of October. I know they will have more incentive in trying to keep me.</blockquote>


I am grateful that mine is later in the year too, for that reason. I guess there are some good things about this bad market!
 
Long story short, we live in Brittany. We were able to renew at a lower rate and for only 3 months!!! The 3 months have since ended and we renewed again at the same rate for 2 more months instead of going month to month and having to pay the $300 "month to month" rip-off rate!!!



Moral of the story is just ask for a lower rate! They did it for us and even let us renew for only 3 months and now 2 months! IAC is hurting...
 
WOW darrenito, that is amazing!! When I renewed at the end of last year they wouldn't even consider fewer than a 9 month lease. Heck if my place won't lower my rate I may just end up moving to Brittany!
 
Hello, MissPijon.



Some great tips for you to read are by a blogger here named Cuatro. His comments on rent negotiation with IAC start <a href="http://www.irvinehousingblog.com/forums/viewthread/3481/#77034">HERE</a>. You will find a LOT of valuable advice there, imo. I hope this helps.
 
[quote author="darrenito1234" date=1252049035]Long story short, we live in Brittany. We were able to renew at a lower rate and for only 3 months!!! The 3 months have since ended and we renewed again at the same rate for 2 more months instead of going month to month and having to pay the $300 "month to month" rip-off rate!!!



Moral of the story is just ask for a lower rate! They did it for us and even let us renew for only 3 months and now 2 months! IAC is hurting...</blockquote>
Thanks for the info...I'll push for a 6-month lease (not a 9-month lease as that'll put me right into the summer season.
 
[quote author="usctrojanman29" date=1252049746][quote author="darrenito1234" date=1252049035]Long story short, we live in Brittany. We were able to renew at a lower rate and for only 3 months!!! The 3 months have since ended and we renewed again at the same rate for 2 more months instead of going month to month and having to pay the $300 "month to month" rip-off rate!!!



Moral of the story is just ask for a lower rate! They did it for us and even let us renew for only 3 months and now 2 months! IAC is hurting...</blockquote>
Thanks for the info...I'll push for a 6-month lease (not a 9-month lease as that'll put me right into the summer season.</blockquote>


Hey USC.



Just drive them down to market. Look at the website. Look at Craigslist. Tell them you will move to Portola IAC.

Do that RE work your so good at.



I got a half month free at renewal back in May. And my rent lowered $ 200 a month. My unit is 800Sq. with attached Garage. $ 1650.00

They will want a year renewal at a minimum. They thirst for those of us that pay our bills on time and cause no issues.



That monster thing called The Park At the Spectrum is going to suck the market down even more when it starts leasing this fall.

Make sure you mention that too.



The big thing for our local Quail units is turnover. Its very high. You and I deserve a premium discount. Make sure you demand it.
 
[quote author="bltserv" date=1252064834][quote author="usctrojanman29" date=1252049746][quote author="darrenito1234" date=1252049035]Long story short, we live in Brittany. We were able to renew at a lower rate and for only 3 months!!! The 3 months have since ended and we renewed again at the same rate for 2 more months instead of going month to month and having to pay the $300 "month to month" rip-off rate!!!



Moral of the story is just ask for a lower rate! They did it for us and even let us renew for only 3 months and now 2 months! IAC is hurting...</blockquote>
Thanks for the info...I'll push for a 6-month lease (not a 9-month lease as that'll put me right into the summer season.</blockquote>


Hey USC.



Just drive them down to market. Look at the website. Look at Craigslist. Tell them you will move to Portola IAC.

Do that RE work your so good at.



I got a half month free at renewal back in May. And my rent lowered $ 200 a month. My unit is 800Sq. with attached Garage. $ 1650.00

They will want a year renewal at a minimum. They thirst for those of us that pay our bills on time and cause no issues.



That monster thing called The Park At the Spectrum is going to suck the market down even more when it starts leasing this fall.

Make sure you mention that too.



The big thing for our local Quail units is turnover. Its very high. You and I deserve a premium discount. Make sure you demand it.</blockquote>
That's exactly what I did...I even looked at other IAC complexes like Serrano and Las Palmas to see what the exact floor plan is renting for (a little less than what it's going for at QM). I'll do a 12-15 month lease if they kick me down $1,000 and a lower rate. I've been auto-debit since day one and I called them once to replace my refrig since it broke down. The opening of The Village will be perfect in terms of timing for me.
 
[quote author="usctrojanman29" date=1252065606] The opening of The Village will be perfect in terms of timing for me.</blockquote>


I've been meaning to tell you trojanman...I moved into a new office on the other side of my building, and now gaze 7 floors down directly on The Village. All day long I get to survey the residents of that community as they make their strolls down to the spectrum, jog, walk dogs, and so on (I can even see them heading to the pool). Let's just say this --- if I were a single guy like you, The Village would be at the very TOP of my list. How do I say this in a PC manner...the, um, *talent* at The Village appears to be very high. Just sayin.
 
[quote author="MissPijon" date=1252048643]And yet I refuse to start a fight with someone on a forum. Sorry to ruin your fun. Your posts are now being ignored by me.



Does anyone else have experience with lowering their rent RECENTLY? I really appreciate everyone's input so far. I feel confident I can negotiate something when my renewal comes up, so thanks to everyone. :)</blockquote>


Our October renewal for a large-ish 1 bedroom in Irvine dropped $180 for 12-18 month lease. Even the 6 month rate went down $100.



IAC's vacancies must be considerable.



SCHB
 
Looks like some IAC's will play bluff until the very end. You'll basically need to have a small deposit placed somewhere, give them a 30 day notice, and be prepared to move, KNOWING that they may or may not counter you during the 30 day period. The end game plays out quickly. Or what you can do is keep mentioning that you'll move until the rent comes down.... if they really don't budge, start the 30-day notice.



USC: If the new place offers $1k with $100 reduction, then your net savings will be $1200 over the year... knowing that the $1k will go toward moving expense.



But if new place offers $100 discount with no free rent or discount on first month, then, with the exception of a possible improvement on environment, you're basically breaking even...



The 30 day notice... Play big to win big :)
 
[quote author="buylowsellhigh" date=1252318086]Looks like some IAC's will play bluff until the very end. You'll basically need to have a small deposit placed somewhere, give them a 30 day notice, and be prepared to move, KNOWING that they may or may not counter you during the 30 day period. The end game plays out quickly. Or what you can do is keep mentioning that you'll move until the rent comes down.... if they really don't budge, start the 30-day notice.



USC: If the new place offers $1k with $100 reduction, then your net savings will be $1200 over the year... knowing that the $1k will go toward moving expense.



But if new place offers $100 discount with no free rent or discount on first month, then, with the exception of a possible improvement on environment, you're basically breaking even...



The 30 day notice... Play big to win big :)</blockquote>
I can play right along with them because if I am willing to move if I have that's what it takes to get what I want. I have quantified my moving cost and it's closer to $300-$400 (includes utility costs) as I don't have a lot of stuff and the move can be made within 3-4 hours. Just like it will be a business decision for IAC on what they will offer me, I too make a corporate decision in terms of lowering my living expenses. I will be giving them by 30 day notice on Sept. 30th and put the pressure on them to come back to me with a good deal. It is a renters market and I will use that to my advantage.



From your visits to other IAC complexes, which ones seemed to be most motivated in your opinion (they will be the ones with the higher vacancies)?
 
Woodbury Lane (sorry i incorrectly said woodbury square) seems to have the best bang for the buck. I was quoted $1450 with 750 discount off move in, 1 bedroom. Didn't negotiate.



I wonder if its possible to negotiate an "early possession" with the IAC... get keys 2 weeks before the lease starts. If you get $750 discount from move in and 2 weeks early possession, free rent becomes 1 month.
 
When we renewed our lease with IAC, we informed them that we've seen our floorplan going for much less on places like Craigslist and we wanted to know if we could get the same offer. The management had no problem giving us that rate and put it in writing.



When we inquired on another drop in price for the same floorplan before we signed our lease again, they informed us that the drop was due to the unit overlooking the very noisy Sand Canyon Blvd. and that it was on the 3rd floor. So, those were circumstances we wouldn't want to put up with, so we kept our first lowered rate.



Usually, they're pretty good with bargaining with you, especially since apartments are hard to keep good tenants in with this economy.
 
[quote author="CK" date=1252066151][quote author="usctrojanman29" date=1252065606] The opening of The Village will be perfect in terms of timing for me.</blockquote>


I've been meaning to tell you trojanman...I moved into a new office on the other side of my building, and now gaze 7 floors down directly on The Village. All day long I get to survey the residents of that community as they make their strolls down to the spectrum, jog, walk dogs, and so on (I can even see them heading to the pool). Let's just say this --- if I were a single guy like you, The Village would be at the very TOP of my list. How do I say this in a PC manner...the, um, *talent* at The Village appears to be very high. Just sayin.</blockquote>


i live at the village and i agree
 
hey all, i went apartment browsing last week. if i was going to move right now, I would totally want to move into one of the new ones on Jamboree.

THe first place I looked at was Calypso. The place has spacious floorplans and really upgraded kitchens/baths.

The second place I looked at was Avalon. It was smaller, but has really nice pool areas and fitness facilities.

The last place was Camden. It looked good, but was priced much more than the other two.



From what I saw, you can spend $1600 for a smaller new unit or $1900 for a larger new unit. In any case, a place can only stay new for only so few years so you might as well take advantage of the reasonable prices right now.
 
[quote author="hs_teacher" date=1253183026]hey all, i went apartment browsing last week. if i was going to move right now, I would totally want to move into one of the new ones on Jamboree.

THe first place I looked at was Calypso. The place has spacious floorplans and really upgraded kitchens/baths.

The second place I looked at was Avalon. It was smaller, but has really nice pool areas and fitness facilities.

The last place was Camden. It looked good, but was priced much more than the other two.



From what I saw, you can spend $1600 for a smaller new unit or $1900 for a larger new unit. In any case, a place can only stay new for only so few years so you might as well take advantage of the reasonable prices right now.</blockquote>
They are nice, but I'm a garage type of guy...not a big fan of the open underground parking.
 
Sadly enough I'm still in the process of deciding upon a place to live. Calypso looks pretty neat but yesterday I was googling for their website and came across some pretty nasty reviews on Yelp.... Will be finalizing this week!
 
Well, I submitted my 30 notice to vacate today over at Quail Meadows. Those guys over in the leasing office didn't even give a good effort of trying to keep me (I was a little disappointed), although I noticed that the manager wasn't there. I guess they were trying to call me but they've been calling my old work number that I gave them when I moved in, but I did give them my cell number. I wonder if they'll be trying to keep me by offering me a better deal then the same rent that their renewal letter had. We'll see what happens.
 
[quote author="USCTrojanCPA" date=1254303001] (I was a little disappointed).</blockquote> Something tells me your kind of enjoying this....playing poker with the Irvine Company.
 
[quote author="Mcdonna1980" date=1254305497][quote author="USCTrojanCPA" date=1254303001] (I was a little disappointed).</blockquote> Something tells me your kind of enjoying this....playing poker with the Irvine Company.</blockquote>
I am and I was hoping/expecting more of a hard sell from them to keep me there. They didn't make me feel wanted....I mean, don't they know I have many other IAC choices???
 
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