2bdr Rent Control vs 1bdr non-Rent Control (Santa Monica: apartments, lease)

[fmincon]

So I'm stuck in a dilemma here. I'm currently in a 2bdr rent controlled apartment in Santa Monica, about 15 mins to the beach in a nice, quiet neighborhood north of Montana. It costs ~$2600/mo for the entire apartment. My roommate is moving out and I'm being grandfathered the current rate (I was not an original tenant) so it seems like if I find a new roommate they would re-adjust to the market rate. Since the lease was originally signed 2-3 years ago there's a real chance that they could push it up by another 30% if I want to find a roommate (based on LA's housing prices over the same period), meaning that it's more logical to live by myself for this option.


The alternative is finding a 0-1bdr apartment. Given how difficult it is finding a rent-controlled unit, I assume I won't have the same luck. Most of the 1bdr apartments within a similar commute radius to work (UCLA) are easily $1500-$2000/mo, which is a real bummer. The cheaper end of the range tends to be located in Palms, which last time I visited seemed to be a mixed area.


A big kicker (at least rent-wise) is my wife is also moving to LA in 2 years after her PhD's done so we might have to go back to a 2bedrm setup for an extra car space + possibility of having a family.
Am I missing anything in my analysis? Because it seems like it makes more sense to just suck it up with the current higher rent than to try out some other apartment where the landlord might jack up the rate on me after a year and the possibility of moving again in 2 years.

[Dunbar42]

I would contact the Santa Monica Rent Control Board and see if they can raise your rent if the original tenant leaves. smrr.org is also a good resource if you have questions about rent control rules. I would assume the rent control rules are pretty strict about what constitutes a tenant vacating the unit and the landlord being able to raise the rent to the market rate.

In LA County rent controlled units are not hard to determine. In Santa Monica I believe you can even look it up an address on the rent control board's website. Rent control doesn't really save you much money until you've been in the same unit for a few years. So if you do end up moving you're going to be adjusting to current market rates.

[fmincon]

Originally Posted by Dunbar42

I would contact the Santa Monica Rent Control Board and see if they can raise your rent if the original tenant leaves. smrr.org is also a good resource if you have questions about rent control rules. I would assume the rent control rules are pretty strict about what constitutes a tenant vacating the unit and the landlord being able to raise the rent to the market rate.

In LA County rent controlled units are not hard to determine. In Santa Monica I believe you can even look it up an address on the rent control board's website. Rent control doesn't really save you much money until you've been in the same unit for a few years. So if you do end up moving you're going to be adjusting to current market rates.

I'm not worried about the rate increasing if the original tenant leaves, since the landlord has already written in writing that my rate will be grandfathered. It's more just about the monetary trade-off between staying and finding another apartment in this expensive city.

[Dunbar42]

But are you sure that, if you find a new tenant, the law allows the landlord to increase you rent to the current market rate?

[Brookside]

[quote=fmincon;40384328]I'm not worried about the rate increasing if the original tenant leaves, since the landlord has already written in writing that my rate will be grandfathered. It's more just about the monetary trade-off between staying and finding another apartment in this expensive city.[/

Is your name on the current lease? Or did you have an informal agreement with your roommate? Did you pay her or the landlord?

It sounds like what your landlord is trying to do is make you sign a *new* lease so he can bump up the rent to market rate.

That sounds kind of shady. Definitely check with the SM rent control board.

Santa Monica Rent Control - Information and Frequently Asked Questions