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Old 07-17-2013, 09:55 AM
 
Location: Paranoid State
13,044 posts, read 13,874,291 times
Reputation: 15839

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Wow. Just Wow.


San Francisco Rents Rattle Tenants, Excite Investors - WSJ.com

Quote:
SAN FRANCISCO—When Alexandra Goldman got notice of her rent increase—from $6,000 a month on a five-bedroom house she shared with roommates to $11,000—she says she was in disbelief.

"We knew immediately we were not going to be able to pay that much money to live there," said Ms. Goldman, a 28-year-old planning consultant whose share of the rent was about $1,000 a month. After receiving the notice in October, she said the house's occupants ended up dispersing to other rentals. She is living with other roommates now and paying about $300 more than she had before. Her former landlord didn't immediately respond to requests for comment.

Welcome to what is arguably one of the worst cities in America to be a renter, but among the best to be a landlord and apartment investor...
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Old 07-17-2013, 10:11 AM
 
Location: State of Transition
102,218 posts, read 107,977,655 times
Reputation: 116172
This is not a believable story. SF rent control laws wouldn't allow an increase like that.
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Old 07-17-2013, 10:23 AM
 
Location: Pacifica, CA
297 posts, read 767,117 times
Reputation: 247
Default rent control

Quote:
Originally Posted by Ruth4Truth View Post
This is not a believable story. SF rent control laws wouldn't allow an increase like that.

Rent control in SF doesn't apply to single family houses or anything built after 1979, so it could be true. Also if an increase in rent is over a certain %, they have to give 60 day notice instead of 30. However, i dont think that landlord is going to get anyone to pay that rent and they probably had to drop the price, but the raising the rent to that insane number could just be a more efficient way to evict a tenant so the owner/relative could move in.
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Old 07-17-2013, 09:35 PM
 
1,650 posts, read 3,520,177 times
Reputation: 1142
$11,000 is nothing. I am sure techies will be happy to pay that rent just for the bragging rights!
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