Pointers for Apartment Search

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buylowsellhigh_IHB

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Would anyone happen to know the best place to look up lease/move in specials for IAC apts or otherwise? I checked out rental-living and it looks like most apts do not have such move in specials, and some feel like gimmicks to sucker people in. Other places list rates but they said that "includes" the "free" rent which is amortized over the rental period.



With all this talk of vacancies it seems that their price should be a little lower. Craigslist is a nightmare to search thru, lol.



I'm looking for a 1BR, at most $1500 a month of rent.... north irvine/jamboree area, preferably in a newer community with parking garage. Thx :)
 
If you are willing to pay $1500, most if not all IAC village would welcome you. I went to their offices by myself. The offers were much sweeter than craigslist.
 
[quote author="buylowsellhigh" date=1252089020]Would anyone happen to know the best place to look up lease/move in specials for IAC apts or otherwise? I checked out rental-living and it looks like most apts do not have such move in specials, and some feel like gimmicks to sucker people in. Other places list rates but they said that "includes" the "free" rent which is amortized over the rental period.



With all this talk of vacancies it seems that their price should be a little lower. Craigslist is a nightmare to search thru, lol.



I'm looking for a 1BR, at most $1500 a month of rent.... north irvine/jamboree area, preferably in a newer community with parking garage. Thx :)</blockquote>
You should be able to get a 1br unit in a newer community with a garage for less than $1,400.
 
Oh darn, that means I've narrowed it down to "only" 8 units.... will take a whole weekend to check out... Here's what I'm looking at:



Las Palmas

Serrano

Woodbury Square

Woodbury Court

Somerset

Camden

Calypso

Avalon

3400 Avenue of Arts



Oh and forgot to mention, $1.5k/mo is including utilities.. Just me living there so i rather not be wasteful in terms of rent. I'll give some feedback on the accuracy of the website specials as well as any possible room for negotiation.
 
[quote author="buylowsellhigh" date=1252170136]Oh darn, that means I've narrowed it down to "only" 8 units.... will take a whole weekend to check out... Here's what I'm looking at:



Las Palmas

Serrano

Woodbury Square

Woodbury Court

Somerset

Camden

Calypso

Avalon

3400 Avenue of Arts



Oh and forgot to mention, $1.5k/mo is including utilities.. Just me living there so i rather not be wasteful in terms of rent. I'll give some feedback on the accuracy of the website specials as well as any possible room for negotiation.</blockquote>
Let me know how motivated each of those places are for your business.
 
The other variable you didn`t mention is length of term on your lease.

IAC will be most favorable on its prices with at least a 1 year lease.

Anything under that and you will be paying about a 15% premium for the short term.

Normally they load the "Free Rent" as a discount on the first month of the lease.

Also pay attention to any "Lease Break" clause they attempt to put on a contract.

They may attempt to get that number as high as $ 3500.00. But will negotiate down

to one months rent. Just read CAREFULLY the contract before you sign it.



Good Luck and welcome to the IAC.
 
So I checked out 4 places today... woodbury square, somerset, calypso, and avalon. Calypso/Woodbury is probably the 2 better ones. Somerset has a direct access garage for 1br unit, which is neat.



So far, I've gotten these answers:



1) The "free rent" is factored into the monthly lease, here is the "regular price"

2) A "move in discount". $500-1000 typical, discount off first month.



Feels like they count leads / conversion rate at certain price point. Their training is polished to a point where you can't tell if they are willing to come down on pricing. About the only way is to ask them how many vacancies they have, of the particular unit u want... But at that point, you won't know if "1 left" is a gimmick because I play those games as well, haha.



I'm not too sure how aggressive the buyer should be in terms of tone... when I buy cars from dealerships its aggressive, borderline abrasive. I just gave the message that I've narrowed it down to half a dozen properties, ready to move in right away... Leaving the door open to see if they will give me a follow up offer.
 
Kind of OT, but what is the best way to find homes (not apartments) for rent?

So far, I've found that realtor.com has a lot of listings, but that site is such a pain to use.

I'm surprised that no one has done a redfin-like site for rentals.
 
[quote author="hedgehog" date=1252318118]Kind of OT, but what is the best way to find homes (not apartments) for rent?

So far, I've found that realtor.com has a lot of listings, but that site is such a pain to use.

I'm surprised that no one has done a redfin-like site for rentals.</blockquote>
Craigslist is one place and the other is via MLS (craigslist tends to be better for condos and lower priced rentals where as larger and most expensive rentals will get listed on MLS). MLS has active rental listings of both homes and condos. Let me know if you want to see what's out there.
 
[quote author="usctrojanman29" date=1252318815][quote author="hedgehog" date=1252318118]Kind of OT, but what is the best way to find homes (not apartments) for rent?

So far, I've found that realtor.com has a lot of listings, but that site is such a pain to use.

I'm surprised that no one has done a redfin-like site for rentals.</blockquote>
Craigslist is one place and the other is via MLS (craigslist tends to be better for condos and lower priced rentals where as larger and most expensive rentals will get listed on MLS). MLS has active rental listings of both homes and condos. Let me know if you want to see what's out there.</blockquote>


Thanks for the offer. Does realtor.com include everything that's on MLS, or are the two not related?



I may contact you when my SO gives me the go ahead. I wouldn't want to waste your time on a purely hypothetical interest.
 
[quote author="hedgehog" date=1252320096][quote author="usctrojanman29" date=1252318815][quote author="hedgehog" date=1252318118]Kind of OT, but what is the best way to find homes (not apartments) for rent?

So far, I've found that realtor.com has a lot of listings, but that site is such a pain to use.

I'm surprised that no one has done a redfin-like site for rentals.</blockquote>
Craigslist is one place and the other is via MLS (craigslist tends to be better for condos and lower priced rentals where as larger and most expensive rentals will get listed on MLS). MLS has active rental listings of both homes and condos. Let me know if you want to see what's out there.</blockquote>


Thanks for the offer. Does realtor.com include everything that's on MLS, or are the two not related?



I may contact you when my SO gives me the go ahead. I wouldn't want to waste your time on a purely hypothetical interest.</blockquote>
Yes, realtor.com should include most all MLS listings. I have found that realtor.com can be a bit inaccurate at times though (for example, it'll keep shows a rental is active even though it was already leased). Don't even worry about it whether you use me or not, I'm here to help people without the expectation of getting business. It's all about good Karma. I don't mind e-mailing rental listings so you can see what's out there (all I would need is your e-mail) and even if you find something on craiglist I can check rental comps for you to make sure you aren't overpaying.
 
[quote author="buylowsellhigh" date=1252333460]More searching on Monday. Hope they're open!</blockquote>
It would be in their best interest to be open as that's when people have time to roam around looking for a rental.
 
Ok, visited nearly every IAC up and down jamboree today... rent incentives rent from $250-$800 discount off first month. The $800 is at locations where there are lots of vacancies. 1BR range from $1300-$1500 depending on the interior amenities. Boutique communities tend to have less vacancies than the large ones. They will start marketing units that have received the 30-day notice. And if the units are still un-rented after the tenant has moved out and unit is turned around, the rent starts to get aggressive. When the unit is empty, they are losing rent.



I also think that negotiation is probably going to be easier if you don't mind withdrawing an application you put in. As far as they're concerned u might be all talk if you don't put in an application. Perhaps get an approval, and threaten to pull out at the last moment (without losing a deposit). Sounds kind of messed up to play this game if it were a independent homeowner but it seems that you have to play the same games they use on tenants. But I'm speculating that the end result might end up being $400-800 discount off a year's of rent. And at the end its up to you to decide if all this effort is worth a $400-800 discount.



At this point in time I may put in an application for two communities I liked to negotiate with both using the same method, then at the end pull out of one.



I put together this conclusion based on the fact that another IHB member received a counter offer two weeks after putting a 30-day notice. IMO this is pretty hardball on IAC's part so you have to do the same for them...



Edit: I do have to mention that the rates given in person are slightly lower than the website. I'll grab all the notes together :)
 
USC, seems like our requirements are fairly similar: 1BR, with private garage or parking structure, decent parking.



I notice a ~$100-150 difference in a basic 700-825 sqft 1BR apartment depending on interior decorations... white vs beige wall, higher quality base/crown moulding vs. basic grade crown moulding, tile vs. plastic floors, particle board vs. granite countertop, entry level vs quality carpet, cabinetry, bathtub, etc.



I'm guessing that a $5-10k difference in interior decoration comes out to the $100-150 monthly difference in rent. But man, some of these places are nice!



Here's a list of the places I visited, and I ranked it based on the interior quality which also is the likelihood of me moving there:



Calypso ~$1500 no incentive... interior screams quality but unit is smallest.

Anacapa ~$1500 $250 incentive... everything matches calypso except this place has lower quality cabinets. highest quality of all tustin mktplce apartments

Woodbury Square $1450 $750 incentive, pretty much similar to anacapa but slightly lower quality.

Avalon ~ $1400 no incentive but very short lease term. narrow hallways and construction feels a bit sloppy, but stuff they use is pretty nice...

Somerset ~ $1450 $500 incentive (i think... didnt write this down), direct access garage for 1br

Serrano ~ $1375 $500 incentive middle of the road apts for the ones behind tustin marketplace

Las Palmas ~$1350 $500? incentive. simplest in tustin mkplce and lowest prices.



I was planning on visiting camden, main street, and 3400 avenue of the arts, but I'm a bit burnt out on apartment searching. And I've also entered a new phase of negotiation with my current landlord which is somewhat a curveball for the equation as a whole.



If you are single as I am, Calypso, Anacapa, or Spectrum village is probably the "trendy" place to be as far as bachelors pads go. They are within walking distance of entertainment so you really don't have to worry about driving home after a night of drinking.. or perhaps a $10 cab ride to go half a mile :). The home I live in now is remodeled but is in a "homely" neighborhood. So now my decision is more personal than a numbers thing, hahaha.



Edit: Some of these places have lower availability so lets not compete for them and screw up the market for each other ya? :) If you find some others feel free to let me know!
 
[quote author="buylowsellhigh" date=1252421992]USC, seems like our requirements are fairly similar: 1BR, with private garage or parking structure, decent parking.



I notice a ~$100-150 difference in a basic 700-825 sqft 1BR apartment depending on interior decorations... white vs beige wall, higher quality base/crown moulding vs. basic grade crown moulding, tile vs. plastic floors, particle board vs. granite countertop, entry level vs quality carpet, cabinetry, bathtub, etc.



I'm guessing that a $5-10k difference in interior decoration comes out to the $100-150 monthly difference in rent. But man, some of these places are nice!



Here's a list of the places I visited, and I ranked it based on the interior quality which also is the likelihood of me moving there:



Calypso ~$1500 no incentive... interior screams quality but unit is smallest.

Anacapa ~$1500 $250 incentive... everything matches calypso except this place has lower quality cabinets. highest quality of all tustin mktplce apartments

Woodbury Square $1450 $750 incentive, pretty much similar to anacapa but slightly lower quality.

Avalon ~ $1400 no incentive but very short lease term. narrow hallways and construction feels a bit sloppy, but stuff they use is pretty nice...

Somerset ~ $1450 $500 incentive (i think... didnt write this down), direct access garage for 1br

Serrano ~ $1375 $500 incentive middle of the road apts for the ones behind tustin marketplace

Las Palmas ~$1350 $500? incentive. simplest in tustin mkplce and lowest prices.



I was planning on visiting camden, main street, and 3400 avenue of the arts, but I'm a bit burnt out on apartment searching. And I've also entered a new phase of negotiation with my current landlord which is somewhat a curveball for the equation as a whole.



If you are single as I am, Calypso, Anacapa, or Spectrum village is probably the "trendy" place to be as far as bachelors pads go. They are within walking distance of entertainment so you really don't have to worry about driving home after a night of drinking.. or perhaps a $10 cab ride to go half a mile :). The home I live in now is remodeled but is in a "homely" neighborhood. So now my decision is more personal than a numbers thing, hahaha.



Edit: Some of these places have lower availability so lets not compete for them and screw up the market for each other ya? :) If you find some others feel free to let me know!</blockquote>
Yeah we are in the same boat. Looking for same exact thing. I'm paying $1,445/mo and want to get it below $1,400/mo. If you have time, check out The Enclave in CM. Are those prices the initial price they gave you or is it after you asked them for their best pricing? Thanks again!
 
I guess most people don't realize you can use TIC's info center and save yourself the hassle of doing all this research on your own. It's great if you are just starting out and don't already have knowledge of TIC's apartments.



<a href="http://www.rental-living.com/InfoCenter/">TIC Info Center</a>
 
I'm also shopping around for a new 1BR but have been procrastinating... Thanks for doing all the legwork for me!



Not sure if it's baller enough for you, but you may want to check out the Charter Apartments off Jamboree and Kelvin. I believe the JR 1BR were renting for less than $1200. I lived there last year (was paying $1405) and was happy with it. The rooms are about 650 sq ft and have their own washer/dryer, and it has its own parking structure. The location is very convenient, like 1 minute away from the 405. Obviously the community is a bit dated compared to all the new places on Jamboree.



I am also going to check out Main Street Village. I have a couple friends that live there and the facilities there are sweet. My understanding is that it comes to around $1400 after incentives. I heard they are at about 50% occupancy and are throwing in various incentives, stuff like free one time use of the clubhouse and additional discounts for UCI employees. I heard some of the other communities are at much less than 50%, which would not be surprising.



I can't help but feel that there are going to be even better deals in the near future with the glut of new apartments in that area. I see the sign twirlers up and down Jamboree every week...
 
^^ After looking at the apts this weekend it didnt feel like they were at 50% occupancy, at least not for the ones I saw. Two with low occupancy are avalon (not even 100% done yet) and Calypso (i would say 80-90%), and Las Palmas... but not as low as 50%. Its also possible that they are purposely deflating availability but i dont see how that would make sense if i told them I want a better location :) of the same floor plan.



Also, you have to look at the occupancy of specific floor plans, i get the impression 1BR's rent out fast.. and specials are also floor plan specific. But I remembered one place that gave you 1 free rental of the clubhouse and something like that would be property specific.



We can keep this thread open, the only way to know about good deal is when someone visits a property with a sign twirler standing at the corner.
 
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