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re: San Francisco is officially the most expensive rental market in the country
Posted on 3/5/15 at 5:22 pm to athenslife101
Posted on 3/5/15 at 5:22 pm to athenslife101
I live in alameda, really nice smaller city right across the bay from San francisco. I pay under 1500$ for a nice one bedroom apt within walking distance from pretty much anything I need. I can jump on Bart pretty easily to get into the city, because driving is San Francisco is a pain in the arse and expensive.
1
Posted on 3/5/15 at 5:55 pm to HailHailtoMichigan!
quote:
Doesn't SF have rent control? How are prices ballooning upward if there was a cap on pricing?
Rent control causes prices to increase on the whole. Simple economics.
Posted on 3/5/15 at 6:10 pm to AnonymousTiger
quote:
Doesn't SF have rent control? How are prices ballooning upward if there was a cap on pricing?
Rent control causes prices to increase on the whole. Simple economics.
Right.
I don't know the SF rules on rent control. AFAIK, it doesn't mean all pre '79 units are rent-controlled, just a certain mandated portion. As Anonymous points out, rent control always makes the rest balloon in price. Always. Has to.
Posted on 3/5/15 at 6:20 pm to Street Hawk
My sister graduated and got a job with a start up as a......PR person? Social media....consigliere? I don't know what the frick to call it, but she has a decent paying job.
She has like 3 or 4 roommates. I live in SJ and make little money and get by living with just my lady. I'd probably rather be on her track than mine, honestly. They have a bar with actual mixologists in the frickin office. I'd probably abuse that situation if it were ever presented to me.
She has like 3 or 4 roommates. I live in SJ and make little money and get by living with just my lady. I'd probably rather be on her track than mine, honestly. They have a bar with actual mixologists in the frickin office. I'd probably abuse that situation if it were ever presented to me.
Posted on 3/5/15 at 6:28 pm to HailHailtoMichigan!
quote:
Doesn't SF have rent control? How are prices ballooning upward if there was a cap on pricing?
What they have is artificial scarcity of affordable housing due to restrictive NIMBY type of zoning regs.
Posted on 3/5/15 at 6:40 pm to Big Scrub TX
I believe rent control applies only to multi-unit buildings of 4 or more units built before 1979.
Single family homes excluded.
And if you want to turn your apartment rental building into a condo, you have to go through an Ellis Act eviction. It will cost you upwards of tens of thousands PER TENANT to evict.
I have friends that have lived in buildings that tried to convert. They were offered upwards of $50,000 to move out. Some just simply state, "nope." And if tenants are over 65, you cannot evict them. At all.
No thank you to being a landlord in SF.
Single family homes excluded.
And if you want to turn your apartment rental building into a condo, you have to go through an Ellis Act eviction. It will cost you upwards of tens of thousands PER TENANT to evict.
I have friends that have lived in buildings that tried to convert. They were offered upwards of $50,000 to move out. Some just simply state, "nope." And if tenants are over 65, you cannot evict them. At all.
No thank you to being a landlord in SF.
Posted on 3/5/15 at 6:47 pm to DownshiftAndFloorIt
quote:
Holy fricking hell
I was working numbers on a house last week and $1300/month for a 15 year mortgage freaked me out.
That's not bad at all
Posted on 3/5/15 at 6:51 pm to SanFranTiger
quote:
I believe rent control applies only to multi-unit buildings of 4 or more units built before 1979.
Single family homes excluded.
And if you want to turn your apartment rental building into a condo, you have to go through an Ellis Act eviction. It will cost you upwards of tens of thousands PER TENANT to evict.
I have friends that have lived in buildings that tried to convert. They were offered upwards of $50,000 to move out. Some just simply state, "nope." And if tenants are over 65, you cannot evict them. At all.
No thank you to being a landlord in SF.
Landlords in SF probably do quite well as long as they didn't buy their properties in the past few years. While most owners of rent-controlled units may be missing out on the market rate, they're likely still exceeding their expenses by a good margin. And due to proposition 13, it's not as if property taxes can spiral out of control. After the next big earthquake or tech bust, rents will become more reasonable once again.
Posted on 3/5/15 at 8:25 pm to luvdatigahs
quote:
because driving is San Francisco is a pain in the arse
Holy shite, how true this is.
I'm sure it's this way in lots of big cities, but driving in downtown San Francisco was an experience from commuter hell.
There are no driving laws in downtown San Fran, only driving suggestions.
Posted on 3/5/15 at 8:32 pm to UGATiger26
quote:
Honestly, I wouldn't live FOR FREE in one of those tiny-arse apartments that I hear my friends in NYC and San Fran talk about. Guess I'm just not the city type.
I had a studio apartment. It looked tiny when I first went to see it but I got used to it very quickly and realized how little room I actually needed.
But I've gotten spoiled living on the MS Coast. Much better in terms of jobs/income potential AND much lower cost of living.
This post was edited on 1/18/21 at 8:58 pm
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