rent control (Santa Monica, Brentwood: real estate, apartment, renters)

[xzyan]

I would like to move from a rent control in santa monica and I was wondering if I should negotiate something with my landlord ... I am sure he will be happy to see me out due to the amount that I pay... how should I do that .? my land lord can get 2x times the rent that I pay .. plus there is a garage and etc ....

Thanks

[PureHapa]

Negotiate what? Get paid to move out? Rent control is governed by strict laws. The landlord is probably not allowed to give you a monetary incentive to vacate a rent controlled unit he can then get more rent for.

[xzyan]

I guess you did not get the point , so no need for me to explain

[Sorcerer68]

Please do, I don't understand either.

[kymmid]

You don't need to negotiate to move, simply submit a 30 day notice and be on your way. Rent control is a renters dream, especially in Santa Monica..why are you moving to purchase property? Just curious?

[greggd]

Originally Posted by xzyan

I would like to move from a rent control in santa monica and I was wondering if I should negotiate something with my landlord ... I am sure he will be happy to see me out due to the amount that I pay... how should I do that .? my land lord can get 2x times the rent that I pay .. plus there is a garage and etc ....

Thanks

In this situation once you vacate the unit, the owner can rent at market rates. If you want to negociate with him, you can determine the difference between your rent rate and market rate, then multiply it by 12. That will give you an indication of his yearly incentive. Other factors such as % of the units in your building paying below market rate and % below, may play a roll in his willingness to pay you to leave. Under relocation laws, where the owner is required to relocate a tenant, I think its currently about $4,500 for a single unit and $5,500 for a one bedroom.

If you move to another location and try to keep your unit as a 2nd home under rent control, he can evict you. I am not sure if he can charge you back rent at market rate.

I know of people who have lived in the same unit for 20 years. They have watched the housing market around them go from affordable to unaffordable and they are now stuck. They clung to the $3-400 savings back then, rather than moving on in their lives and growing, only to loose thousands by not owning real estate of their own.

[xzyan]

Thanks greggd

I was wondering why the other 2 did not get the point or I have to spell it for them . I am glad that there is some one that can read b/w the lines .. Thanks for answering my ?... :-)..

[Ultrarunner]

Originally Posted by xzyan

Thanks greggd

I was wondering why the other 2 did not get the point or I have to spell it for them . I am glad that there is some one that can read b/w the lines .. Thanks for answering my ?... :-)..

I think most people "Did" get your point... You want to know how much you can stick it to the property owner.

It is incredible that after enjoying below market rent controlled rent, subsidized by the property owner, that you now want to extort additional money from the owner to move, when it is you who want to move in the first place...

I really don't know why people bother anymore with residential rentals... at least with commercial rentals, both parties realize it is a business transaction.

[LALady]

Originally Posted by xzyan

Thanks greggd

I was wondering why the other 2 did not get the point or I have to spell it for them . I am glad that there is some one that can read b/w the lines .. Thanks for answering my ?... :-)..

We got it.

Someone I know was offered $25,000 to move from her rent controlled apt. She was paying about $500 for a beautiful unit in Brentwood that was probably worth about $2000 or more.

[oldskoul]

I also am looking for the best way to propose things to my apartment manager. i pay under 1000 for a 2 br in 'Ocean Park' area of SM. It looks like similar pads are renting for $1800.

I was thinking if i were the owner i would want my out bad as i am looking at a loss of $850 a month with no end in site.

Even if he took out a 4 year loan out he would start recouping after the 4th year. plus the interest and amount he paid me would be tax deductible for him.

I am thinking $40,000 is a good amount. in the past offered $15K out of the blue. I countered with $50 and the phone was slammed down basically (oops 2 high) .

In hindsight he should have taken it he would have made money as I am still sitting here.

Any thoughts. Any updates on the original posters situation?