Rental Competition in San Francisco... (apartments, renters, good credit)

[whitechocolate86]

Is it really hard to get a rental...studio or 1br, if one wanted to move out there? If say you were coming from the south or midwest...and had money saved up...what would you need to do? Do extensive research on Craig's List...what would you do to make sure you had a place before you came?

[jeevcy]

I think CL is the best bet. If you are flexible in living outside the city, I think your options open up ...

[sonarrat]

As I said in another thread, I tried to find a one-bedroom apartment in San Francisco. I found a one-bedroom in the Outer Sunset for $1100 and another in Forest Hill for $1220. Both were in absolutely pitiful shape - I saw large insects inside both apartments, outlets were out of date, they were dirty and old and dingy. Both of them had hundreds of applicants who were physically there to fill out an application. They showed me their stacks of applications and checks. As one with less than optimal income, I was muscled out before I had even got there. I swear you could make more money just taking applications for apartments one weekend a month than you would get for rent in some neighborhoods.

[pflau]

What you are saying is there is a lot of competition for inexpensive rentals, which doesn't say much for rentals in general. An average one bedroom is about 1700, no? How are the demand on those?

[gizmo980]

Originally Posted by pflau

What you are saying is there is a lot of competition for inexpensive rentals, which doesn't say much for rentals in general. An average one bedroom is about 1700, no? How are the demand on those?

I think it depends on many factors - location, size, amenities, pet-friendly or not, price, and so forth. I had basically NO competition when I rented my house, since I was looking for a dog-friendly house in the Southeast, which is the less desirable part of town... since I have good credit, perfect rental history & a steady income, that beat out probably 80% of applicants looking in these neighborhoods. I found the perfect house, faxed an application that evening, and got approved the next day! They said about 4-5 other people were interested, but I beat them on time (first come, first serve) and credit rating. So if you have these qualities and aren't looking in places like North Beach or SoMa, chances are pretty good. If you do go apartment-hunting, always come prepared with a check book for deposits, a "resume" or list of references, and a recent pay stub.

[RandalR]

Originally Posted by pflau

What you are saying is there is a lot of competition for inexpensive rentals, which doesn't say much for rentals in general. An average one bedroom is about 1700, no? How are the demand on those?

If money isn't a particular problem, you won't have much trouble renting a very nice place in Rincon Hill/South Beach - there are plenty available with one bedroom rents running around $2,500/month.

[NorthernCalifornia]

Forest Hill is a very desirable area and there are only a few rentals open there all year. $1220 for a 1br is a great deal in almost every neighborhood of SF, that place was way cheap for the "stats" but clearly the condition warranted the cost. Most renters figure they can fix the place up if they can lock in at a price like that.

Typically in SF at this time you need to be ready to take an apartment within 2 days of looking at it. This means deposit, etc. Naturally the more people who come to look at the apartment the more competition. If you see 20 other people there filling out applications don't even bother.

Also worth noting is that often the apartment isn't REALLY for rent and your time is being completely wasted. This is very common with prop managers in SF.

I tend to avoid anything that has a group open house, I consider that disrespectful and a good indication of how you'll be treated if you actually move in. There is enough demand to where if you show an apartment by individual appointment you'll rent the place out with no trouble.

[whitechocolate86]

Okay, I was curious as to how one would attain a living space in SF or a nearby municipality...who lives in say Texas...but doesn't wanna venture out there...and end up living in a van down by the river.

[pflau]

Originally Posted by NorthernCalifornia

Typically in SF at this time you need to be ready to take an apartment within 2 days of looking at it.

What do you mean by "at this time"?? This time of year? This year? Was it better? Or wrose before?

[NorthernCalifornia]

At this time means "these days" eg it wasn't always and likely won't always be quite the same. the rental market is really tight right now and has been since last summer at least. Next year it might be more flexible. Either way, when you go to look at places in major cities you need to be ready to give them your commitment right away.