Ng, Renter in San Jose, CA

I am living in the apartment in south san jose. My rent has increased for another year , how can I know what is the market price of apartment?

Asked by Ng, San Jose, CA Fri Jan 13, 2012

Living in the same apartment for the last 2 years . Now I want to renew the leases for another year, the management staff has increased the rent. what is the correct method to determine the market price of the apartment. in that area.

Please advice so that I can negotiate if possible.

Help the community by answering this question:

Answers

12
Hi Ng:

Unfortunately, rents are on the rise in Santa Clara County. As more and more families move to this county for available jobs (and also because the inventory of available homes for sale is currently quite low), homes and apartments for rent have seen an increase in demand.

Without working with a Realtor, your best bet to finding comparable rental rates in your area is to check the newspapers and rent.com to see what rent is being charged for comparable housing near where you're currently living.

Although I know you're not enamored with the increased rent being offered by the landlord or management company, keep in mind that, if you've been a good tenant, their increase is likely to be a little less than market so that they can retain you as a leasee.

Good luck!!
1 vote Thank Flag Link Fri Jan 13, 2012
I would probably start by contacting a few local property management company and comparing their answers as for what local fair market rents should be.

Good luck
0 votes Thank Flag Link Sun Dec 22, 2013
I just checked Cleveland Craigslist -- lots of 2 br apts in the low 600s

I call it the fuzzy rope syndrome! you know, that fancy club with the fuzzy rope keeping you from going in and rubbing elbows with all the 'fancy' people...

that is what it is all about -- SF residents aint all surfers! and if you don't surf, why not live in Cleveland?

answer: because people are naturally egotistical - so drop your ego and lead a more relaxed life in the midwest - nobody thinks you are special because you live in sanfran
0 votes Thank Flag Link Sun Dec 22, 2013
Hi Ng:

Yes rents are going up 5-10% a year in Silicon Valley.

Check sites such as http://www.craigslist.org or http://www.rentometer.com

Issue is supply and demand, Apartments are wanted by many, as they are cheaper than homes.

Good luck.
Perry
Web Reference: http://www.ruthandperry.com
0 votes Thank Flag Link Fri Jan 20, 2012
best way is to drive around call the property manager what and how much
1 o 2 br, 1 or 2 bath, does it have car port, garage etc?

Lately most condo 2/1/ 800 sf near Oakridge with 1 car port is going for $1450 a month....

Be careful about negotiation he may raise it. Rents are going up.
0 votes Thank Flag Link Sun Jan 15, 2012
Zip 95136 is Blossom Valley and your rent is going to be determined if you are in newer construction or older condos and/or apartments. The improvements, sound and location make a difference. You can ask you neighbors what they are paying.

All the best to you.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Fri Jan 13, 2012
http://portal.hud.gov/app_nhls/publicWelcome.do?cmd=doFMR this may help you.

San Jose has rent control and my understanding (check with a property manager) is there is a limit of what can be raised per year 8%?

You can always try to negotiate with your landlord because if you move they will have a vacancy while they prepare the apartment. But because rentals are in demand they may still make up the loss.

All the best to you.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Fri Jan 13, 2012
Thanks everybody for providing prompt response.

As far as Rent.com is concerned , it is difficult to find out the current market price for a particular square feet.

Can anyone estimate the market price of apartment which is 710 square feet in south san Jose , zip code is 95136 ?
0 votes Thank Flag Link Fri Jan 13, 2012
Ng,

The website is ForRent.com. Sorry about the error when writing the first tme.

Virginia Thomas
0 votes Thank Flag Link Fri Jan 13, 2012
Thank you, Ng:

The best and most reliable way to get accurate and reliable information for market rent in your complex is to hire a real estate appraiser to do a rent survey.

Accurate and reliable rental information is generally quite difficult and time consuming to obtain.

For the amount of money that is involved it may be worthwhile to hire a Real Estate Appraiser to perform an accurate rent survey for you and present the results of the rent survey to your landlord.

However, I recommend that you keep in mind that there is an enormous amount of upward pressure on rent in San Jose. As the economy rebounds, people are beginning to move back into San Jose to take advantage of the new jobs that are beginning to appear. That creates an enormous amount of demand for apartments and houses. That increased demand forces the rents and the prices of real estate upward.

It is possible that an accurate rent survey may show that your landlord is at current market rent and that there is an enormous amount of upward pressure on the rental market.


Also for the long term rents will continue to rise as the economy recovers and Real Estate prices will begin to rise substantially as the economy recovers. Rents and Real Estate prices are relatively low right now because of the problems that we have had with the economy for the past few years. However now as the economy is recovering we are seeing upward pressure on rents. That is the reson that rents are going up. As people move back to San Jose to take advantage of new jobs, that will also push Real Estate prices back up as well.

For more information, please call me at my cell phone: (408)509-6218 or contact me at my email address: charlesbutterfieldbkr@yahoo.com



Thank you,
Charles Butterfield
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
0 votes Thank Flag Link Fri Jan 13, 2012
Ng,

The rents are going up a lot everywhere in San Jose so this is not just your case. It's the market right now and this is one reason I'm seeing more first time buyers. People are reviewing their options as renter vs. owner because the savings could be significant. You can check out Rent.com as well and this site lists the complexes with rental rates for 1, 2, and 3 bedrooms.

Virginia Thomas
ginnyth@pacbell.net
408-921-1257
0 votes Thank Flag Link Fri Jan 13, 2012
Hi Ng,
You can check apartmentguide.com or local newspapers. Go see some apartments in your area to see if you can get a better rent.
Good luck to you!

Kevin Vo
408-228-2161
kevinvohomes@yahoo.com
0 votes Thank Flag Link Fri Jan 13, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer