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Old 01-15-2016, 11:37 PM
 
28,115 posts, read 63,659,938 times
Reputation: 23268

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It is a win/win... I hate turnovers and love longterm tenants that want a neighborhood environment.

Years ago I managed larger apartments and it was constant turnover and never a question if the rent was going up... only how much.

Single family, duplexes and triplexes are much easier to manage because renters often are families with kids in school and more a part of the community...

Straight up... a good tenant will not have to worry about annual rent increases and there are enough life events where units do become vacant and the starting rent is closer to market.

The rental I have with 5 college age or slightly older tenants has worked out very well... three of them had lived in SF.

I've found them to be very responsible wanting to do the right.... works out to about $500 per person including utilities...
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Old 01-16-2016, 12:02 AM
 
Location: Oakland, CA
28,226 posts, read 36,866,909 times
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Quote:
Originally Posted by Ruth4Truth View Post

The OP could check out the new micro-apartments going up closer to downtown, for an affordable place. I don't know what the rents on those are.

They are very expensive. Like $1700.

Micro Dwellings : Curbed SF
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Old 01-16-2016, 09:58 AM
 
2,379 posts, read 1,814,222 times
Reputation: 2057
Quote:
Originally Posted by Ultrarunner View Post
All I can say is every Oakland vacancy over the last 5 years has been filled by someone from SF... with one exception.

That one could have easily gone SF but a local public school teacher happened to hear about it and she is 5 minutes by car to work or 15 by bus.

After the last round of vacancies... I don't anticipate any for sometime.

SF really does drive the Inner East Bay housing market and beyond...

Still meet people that will sacrifice anything to call SF home... that generally fades once there is a child involved.

Another plus for East Bay is several cities do have some protections to moderate rent increases due to local rent ordinances...

It is good and bad... most of the single family rentals around me have been sold to owner occupants... the previous owners simply wanted out of the rental business under rent control... which isn't hard when dealing with single family homes.

The Bay Area can be a cold place if you don't know anyone and funds are limited.
I agree. The younger couple that moved in across the hall from me had a baby recently. They rented this 1 bedroom apt, located in the Outer Richmond Dist in Sept 2014 for $2K. Including the hallway, the apt is probably approx. 550 sq ft. I don't see them now as long term tenants. I can sometimes hear the baby crying and if I can hear the baby, then crying is definitely heard by the tenants living in the apartments above and below them.
The inner East Bay cities of Albany, Berkeley and certain areas of Oakland, for me, have enough to offer, that if I lived in one of the fore mentioned, I probably would travel to SF only a few times a year
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Old 01-17-2016, 06:50 PM
 
5,913 posts, read 3,184,775 times
Reputation: 4397
Quote:
Originally Posted by Ultrarunner View Post
All I can say is every Oakland vacancy over the last 5 years has been filled by someone from SF... with one exception.

That one could have easily gone SF but a local public school teacher happened to hear about it and she is 5 minutes by car to work or 15 by bus.

After the last round of vacancies... I don't anticipate any for sometime.

SF really does drive the Inner East Bay housing market and beyond...

Still meet people that will sacrifice anything to call SF home... that generally fades once there is a child involved.

Another plus for East Bay is several cities do have some protections to moderate rent increases due to local rent ordinances...

It is good and bad... most of the single family rentals around me have been sold to owner occupants... the previous owners simply wanted out of the rental business under rent control... which isn't hard when dealing with single family homes.

The Bay Area can be a cold place if you don't know anyone and funds are limited.
Single family homes are not under rent control. Maybe I am reading you incorrectly b/c I believe you have been a landlord for a while and would know this.

Quote:
Originally Posted by jade408 View Post
They are very expensive. Like $1700.

Micro Dwellings : Curbed SF
I believe Ruth is talking about the micro unit apt building going up on Valdez and 24th. Your link is for one in SF. Although, I wouldn't be surprised if these mircro units go for at least $1,700. I would actually bet closer to 2k. Here is some detail if you are interested. Oakland: 2425 Valdez - Micro Units in Downtown Oakland Almost Topped Out - East Bay Redeveloped

Last edited by Ultrarunner; 01-17-2016 at 08:46 PM..
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Old 01-17-2016, 07:33 PM
 
Location: State of Transition
102,203 posts, read 107,859,557 times
Reputation: 116113
Quote:
Originally Posted by jade408 View Post
They are very expensive. Like $1700.

Micro Dwellings : Curbed SF
Cray-cray! That Victorian has so much space, they could have done better for that apt., it seems to me. And the ceilings are high enough that they could have built in a stable loft, with study space underneath.


Micros go for around $950 in Seattle, give or take.
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Old 01-17-2016, 08:48 PM
 
28,115 posts, read 63,659,938 times
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Quote:
Originally Posted by Oakformonday View Post
Single family homes are not under rent control. Maybe I am reading you incorrectly b/c I believe you have been a landlord for a while and would know this.
You are right... I should have been more specific and said Oakland's Just Cause Eviction statute...

http://www.aoausa.com/forms_member/J...%20Oakland.pdf

When I first started managing residential units in Oakland an owner could simply ask a tenant to move with proper notice without stating a reason.

Several times the first year there were problem tenants that were asked to leave... it was simple and non-confrontational.

Now, every property that I manage falls under the Just Cause Statute known as measure EE...
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Old 01-18-2016, 12:37 AM
 
5,913 posts, read 3,184,775 times
Reputation: 4397
Quote:
Originally Posted by Ultrarunner View Post
You are right... I should have been more specific and said Oakland's Just Cause Eviction statute...

http://www.aoausa.com/forms_member/J...%20Oakland.pdf

When I first started managing residential units in Oakland an owner could simply ask a tenant to move with proper notice without stating a reason.

Several times the first year there were problem tenants that were asked to leave... it was simple and non-confrontational.

Now, every property that I manage falls under the Just Cause Statute known as measure EE...
Ah yes. The city is also debating increasing the fee to Ellis act units. RAP brought it up in one of the December city council meetings. A decision has been postponed until the next meeting in 2 Tuesdays from now. Just FYI
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Old 01-19-2016, 12:55 PM
 
12,823 posts, read 24,397,340 times
Reputation: 11042
The Russians who used to go for The Richmond are now going for San Mateo and Belmont.

The ones who make bigger bucks buy and ones not quite there yet rent.

I'm surprised there are not more Russian oriented business in those areas, but I'm sure they are on their way. Folks can't always make the time to tool up to The City.
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Old 01-19-2016, 07:36 PM
 
Location: State of Transition
102,203 posts, read 107,859,557 times
Reputation: 116113
Quote:
Originally Posted by BayAreaHillbilly View Post
The Russians who used to go for The Richmond are now going for San Mateo and Belmont.

The ones who make bigger bucks buy and ones not quite there yet rent.

I'm surprised there are not more Russian oriented business in those areas, but I'm sure they are on their way. Folks can't always make the time to tool up to The City.
Interesting. Eventually, I imagine there will be little Russian grocery stores, and a restaurant here and there. I hear there are lots of Russians in Walnut Creek and Sac'to. Will have to check that out next time I'm in the area.

What, San Mateo is cheaper than the Richmond, now? o.0
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Old 01-20-2016, 12:44 PM
 
2,379 posts, read 1,814,222 times
Reputation: 2057
Quote:
Originally Posted by Ruth4Truth View Post
Interesting. Eventually, I imagine there will be little Russian grocery stores, and a restaurant here and there. I hear there are lots of Russians in Walnut Creek and Sac'to. Will have to check that out next time I'm in the area.

What, San Mateo is cheaper than the Richmond, now? o.0


I think the poster was referring the Richmond Dist of San Francisco
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