IAC Apartment Rates

B

blue_IHB

New member
Are my eyes deceiving me or have the IAC apartment rates gone up in the last month or so? How are the occupancy rates doing in IAC?
 
<p>Compared to last year, their increases are very tepid.</p>

<p>Occupancy rates are down acccordingly. Your negotiating room should be greater.</p>

<p>SCHB</p>
 
They've tried to jack my rent up at least 7% the last two negotiation cycles.





I've been able to negotiate it down to 4%. Even that is a hard pill to swallow for someone that faithfully pays their rent on time every month.
 
<p>jw - </p>

<p>Get to know your property manager (and keep in touch with your initial leasing agent you worked with). It doesn't hurt to drop in periodically and chit-chat with the staff (especially when you pick up your packages). We rented from IAC for over two years and come renewal time and negotation was pain-free. </p>

<p>Very similar to buying where the sellers have flexibility to set the price - if they like you they'll be willing to cut a deal. Focus on a win-win for both sides.</p>
 
<p>The Irvine Company charges what it wants, when it wants. Their properties have pretty high vacancy rates. After building that giant monstrosity by the spectrum and another community on MacArthur and Main, they are only increasing the supply. Since they own the land, I think they figure they might as well have rental units on it. Land by itself is just a non-performing asset IMO.</p>

<p> </p>
 
<p>6.7% increase, but we negotated for a 10 month lease. So that pretty much gave us 2 more months at our old price. I'm sure we'll get the next 14 months at the higher price! Hopefully we'll be able to find a place before then.</p>

<p>-bix</p>
 
In comparison to the cities around Irvine, how much of a premium are we paying to live within Irvine by renting from IAC?
 
<p>Communities are approved with fixed number of housing units. The condition of approval does not indicate for sale or lease. Some land parcels originally designated for sale are being converted to IAC sites. The energy level of TIC's residential sale is definitely shifted to IAC leasing. Many of IAC's older portfolios are being refurbished for a new look. Granite, crown moldings stainless appliances and low voltage murano glass lighting are becoming standard features for apartments. The spec level for leasing is nicer than most for sale homes. I think IAC has 225,000 units and many are being updated. This should keep TIC operation busy during the recession. </p>
 
This is my first Post, I've been reading through the Forum and I must admit, it's really pretty good...



Pleased to meet you all....;-)



Anyway, I've been living in an IAC Townhouse, or Townhome, whatever you call it (To me it's a House, but that's what we call them in the UK), and I must admit I love Irvine...I work here too...



First of all, preparing for Jan 08 when my lease is up, how does one negotiate? I'm paying well over $2K now each month, never been late with the rent, in fact, sometimes I pay 2 weeks ahead...

By the way, the Townhouse next Door was empty for 3 months...



Which brings me to my next question, A Family did move in next Door and their Patio is literally full of trash, I'm talking about stuff that should be put in the Dumpster...I've complained several times to our "Management" they agree that it looks terrible, they say they've warned the People but it's still the same!!

Also, when I moved in, they said they had pretty stringent Parking laws, great I thought, that suits me just fine, I have a Garage anyway...BUT, I have had two abandoned Cars parked right outside my Front Door, by abandoned, I mean never moved for over a month, absolutely filthy, one has a completely flat Tire...

I called our "Managment" last week..."Oh, thank for letting us know, we will come and have a look and Tag them"...Guess what, the Cars are still there...a Lexus and a Merc (old ones)...



Any advice on what I should do??



Sorry, I'm not a complainer..in fact, thos are the only ones I have...;-)
 
<p>I don't know about negotiations regarding your lease. But I do share your frustration on cars parking right outside your front door.</p>

<p>I just don't understand the point of HOA's rules/regulations if they're not enforced. Here in my neighborhood, they send us monthly newsletters threatening that cars will be towed. I have been here 2 years now and people still park their cars in the front. </p>

<p>I actually could care less about where people park. But if there are rules, enforce it. Otherwise, stop sending those darn newsletters on parking rules. Geez.</p>

<p> </p>
 
Peter, in my experience living in an IAC townhouse, you basically pay what they tell you to pay or you move. The IAC doesn't do negotiation (if anyone disagrees please let me know so I can use that information when my lease expires in December!)
 
<p>IAC DEFINATELY negotiates. </p>

<p>It helps to go into the office and chat with the staff every once in awhile. Make sure all the staff knows you by name. I really think it helps. Also, as soon as you get your new rates - try and negotiate and don't wait until the last minute. You have more negotiating power if you start negotiating early and don't procrastinate. </p>

<p> </p>
 
<p>PeterUK, I'm sorry to hear about the problems you have been having in your complex. I'm really surprised, because we live in an IAC and they are <u>very</u> quick to respond. We had a car parked outside our building for a month and it was taken care of the day following our complaint.</p>

<p>P.S. Welcome to America!</p>
 
<p>I use different costumes when I go to the leasing office.</p>

<p>Just kidding </p>

<p>We can now put in maintenance requests via the Internet. I just use "resident" instead of my name and apt. number. We can also use the night drop-off box at the front door.</p>

<p> </p>
 
I better think about a Christmas gift for the office. We were only raised $20 so we signed a 14 month. We are now 9% below current market. 08 looks like a bad year for rent. Until house prices drop we will be punished.
 
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