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Now is the time to ask for a rent reduction in Southern California
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- Опубліковано 24 кві 2024
- Experts say that as rents have declined in some cities in Southern California, a region where most residents pay more than one-third of their income for leased housing, now could be a good time to ask your landlord for a rent reduction. Kacey Montoya reports for KTLA 5 News at 10, April 25, 2024.
Details: ktla.com
KTLA 5 News - Keeping Southern Californians informed since 1947.
Yeah right, landlord will have someone to replace you same day you move out.
Some middle eastern or Chinese foreigners
That’s exactly what I would do. Market controls what the rent is, not my tenants wishes.
3 empty apts in my bldg. for more than a couple months. For rent signs in half the bldgs on this block of big buildings.
The only way to get lower rent is to make them an offer they can’t refuse.
The apartments I work at are all empty 😂 there’s like 1 or 2 tenants in each building and people are moving out fast
Asked my landlord for a discount and he increased rent
😂
Yep, that would be a trigger for me too, because our expenses keep rising, but our rent has been falling behind.
@@demisx you should stop being a coward and put your real face on your profile making comments like these.
Try paying those expenses with empty units🤨@@demisx
@@Sho_Ishto As if half these profile pictures aren't fake. I don't see much inflammatory about their comment. What's your real issue with said poster?
It is time also to negotiate the property taxes, insurance, materials and labor cost
It's time to move out of the crap state
Other states pretend they are not capitalist and that the extreme profit motives of capitalism are not at fault here yet forget things like random freezes in Texas where the power companies there say “you have a $3,900/month power bill to not die during a freeze now” Etc etc down the line. We can responsibly engage in capitalism without these extreme extortion happening on lumber, insurance etc
“Sign a 2-3 year lease” lol. This guy has obviously never lived in an apartment before
We signed 2 year leases for the last 6 years.
I'm 24 and make $20 an hour, I still cant afford a place so i had to buy a trailer and pay for space rent.
🤣🤣🤣 talk about being disconnected from reality.
What do you mean?
@@thejuicerr negotiate with landlord to decrease rent ? That 99% of time won't work. Unless you have great relationship with your landlord through years of trust or he/she is your friend thats diff.
You know what will happen for most. If you're living currently, your lease wont get renewed and be told to move. If you're trying to move in, you'll get skipped. There's bunch of other people wanting to rent these days due to houses being so expensive.
@kk4649k Got it. These news guys are very optimistic then.
My Landlord lives in LA area and I in central valley and he is also my friend, having said that he has only raised our rent $150 in the past 5 years and we are paying about $700-$900 less than the market value! In return we pay the rent on time direct deposit on the first of the month every single month!
We also just like the lady in the video fix or replace just about everything! We replace items we feel we are responsible for such as bulbs 💡 and air conditioning filter to sprinklers and much more!
I have replaced the dishwasher, the garbage disposal, complete garage door, even the entire sprinkler system front and backyard! Did i mention the fire alarms the light fixtures and backyard fence gate?
As I am typing 💬 this I am sanding down the entire garage walls and ceiling 25+ year old house that was never painted and applying Chaco and primer as well as replacing the very old light and power outlets! All in all we have spent $6,000-$7000 out of our pocket but the labor I have done it all with some help from neighbors and friends!
If you do the math that roughly about $100 a month, but we save way more in rent every month, and our landlord almost never hears from us spending his time with job and family!
Thanks 🙏 for reading
Do you rent a house or an apartment? I'm in LA and thinking about moving, do you know how much a 1 bedroom apartment would rent for in your area?
@@V.E.R.O. We are renting a 4 bedroom and I have to be honest with you once a very affordable town to live in is not renting for ridiculously high prices and still the same distance away from Bay Area 1 1//2 drive no traffic! I would say one bedroom runs in the 1,200-1400 and it’s smarter to get a two bedroom and split the rent if you can live with a roommate! Hope that’s helpful. I live south of Modesto and I am sure you can find a cheaper apartment but it will be in smaller cities or downtown areas of the town with much older apartments.
@@DrayDray78 It is helpful, thank you! That's how much a tiny studio in a cheap area in LA would cost. A one bedroom here costs around $2100.
You doing all that, you might as well buy a house in bum f Kentucky for cheap. How logical 😂
@@ShimmySha nobody wants to live in Kentucky if they don't have to
A rent expert?! lol
😂😂 they have a expert for everything
Also ask for a car payment reduction, tax reduction, food cost reduction, car insurance reduction etc, etc etc .......
While your at asking see if you can get a reduction in delivery rate at home deliveries
Yea. And then your costs go up 20%
Deflation will also make your wage sgo down.
Be a good low maintenance tenant and your odds are better.
That holds true for mom and pop landlords, but not those owned by investment firms that raise everyone's rent because they need to keep their shareholders happy.
Can homeowners ask for a property tax deduction?
😂😂😂😢
No biden voter you get what you voted for
I think you should try and let us know who it goes. 🤣
Yeah it’s called prop 13, and you have to be old to be a benefactor
@@BuhodePiedra you don't have to be old, it limits property tax increases for everyone. You can only lower your property tax if property values drop below what your accessed value is and that hasn't happened in a long time.
My landlord is brutal and greedy! He has a bad gambling habit at the casino and drinks. His mother and father dropped the business in his lap. If he had to go alone in the world he'd be living as a homeless person in the riverbed!
Are landlords getting a reduction in taxes and insurance? That'll be the day.
they have fixed mortgages so actually, yes their biggest expense does decrease as inflation continues
It’s called prop 13, California is 1/50 states that has it
@@mikeydude750 He is talking about tax and insurance.
Actually they can get a reduction in taxes by having a reevaluation.
@@KK-nl6zq which are both small compared to the cost of the mortgage
Good luck getting a reduction in this market, there is no softness we have a housing shortage and homeless problem. Guy doesn't know what he's talking about. Maybe you can ask for rent not going up but it's pretty easy to fill a vacancy and charge more rent then what you're currently paying since the law limits how much rent can be increased on existing tenants but allows for market rate for new tenants so if anything they want you to move so they can charge more for the new tenant than they can currently charge you.
Not true where I live. My landlady told me most people have bad credit scores & it's actually hard to find good tenants
It’s also ridiculous that this piece and people in it are advocating to do your own repairs when part of the rent you pay is for the maintenance repairs. You can also be financially liable for any repairs you do and may be against your lease
Exactly. If you touch the electrical wires and screw something up, then you are responsible. I work in property management and have 17-years of experience. A resident decided to install his own nest thermostat and the a/c never turned on. He asked us to take a look at it and we had to deny him assistance because he installed his own thermostat and installed it incorrectly. He was told he touched it, so he had to fix it. He was liable and we were not responsible for fixing something that he tampered with. If he wanted us to fix it and return it back to normal, he would be charged for any damages, labor, parts, etc. Now he doesn’t have a working a/c. I work for a very large property management corporation that does not allow us to be liable for fixing something that was tampered with unless they are okay with being charged to fix it and return it back to normal.
I think this guy is talking about luxury properties, not the apartments or houses normal people live in.
bwahaha... good luck with that...
Its also the time to ask for this propaganda outlet to be removed from the internet
It’s not that 90% renters don’t know to ask, 90% are afraid to ask.
that's cause 90% are afraid of having to move.
Or they know they haven't been the greatest tenant and have no leverage lol
It's time to ask state to lower property taxes
And insurance company
To lower insurance rate
Plus the landscaping company to reduce price
Bs
Interesting....But, the report is disconnected to the reality we landlords face with rising costs. If the local burger joing is paying more to make your burger where is the logic in reducing the price of the burger. Because there are so many factors making up the 'cost to supply housing' what is chraged as "rent' (alone) is not exactly the entire story explaining the costs behind what the landlord must charge.
We have great tenants and when they ask and we share with them what say, landscaping maintenance & repairs costs they are flabergasted. Heck, I'm flabergasted too. ;-)
No. Now is the time renters decide to become squatters knowing they'll be able to live rent free for 2+years and get the landlord to waive all collection efforts in exchange of leaving. Just wait.... good job newsom and gascon.
Property taxes and insurance keeps going up . I don’t blame landlords for raising the price
My rent has gone up 8-10% per year the last 3 years and before Covid 5% . You can't possibly be claiming Taxes in CA have gone up that fast.
@@Alvan81 1 bond measure and 1 proposition and yes, you can have 10% increases. Prop 13 caps appraisals only for smaller units and there's no limit on county add-ons.
@@Alvan81 . My home insurance almost doubled this year I bought my house in 2020 . My paymentis almost 300 more now
@@Alvan81 Home insurance goes up 40% & a lot of tenants called for every little thing! And if the landlord has bad luck with bad tenants then there is additional cost for lawyer , court fee, & rental income loss.
@luckap79 I didn't say 'no other costs are rising'. But 8-10% Rent increase is doubling every 7? years. Here's the thing: we can let all the landlords maintain their substantial investment rate of return, cool, then we will be doubling the homeless population every 5? years. We all lose then.
Something has to be done.
One of the root issues is that we're not creating sufficient housing and of the correct type. Corporate builders would prefertoi build fewer homes.
And Landlords prefer higher turnover, that lets them keep raising rates faster. This is a systemic issue
This guy is basically teaching us how to make potential landlords not rent to us.
I would not rent property to a demanding cheapskate.
He said ask not demand.
@@V.E.R.O. James is a boomer who thinks landlords are gods. lol
@@HeyItsAvi90 Yeah, my previous landlord was pretty cool and understanding.
@@HeyItsAvi90 get off my Lawn!! I fought for your freedom against the chinese!
@@V.E.R.O. basically the same
This does not apply to Los Angeles county. If you ask for a reduction, they will laugh in your face and give you a 30 day “pay rent or quit” notice lol
Yes it can be done. I renegotiated a rental and enjoyed infrequent small increases on others. Being a freakishly good considerate tenant can (not always) give you amazing leverage. Still, some owners will raise or won't budge no matter what.
Be the kind of tenant you'd want if you were renting to strangers: Be immaculate, no neighbor complaints, fix the small stuff, and especially 👉_consistently_ pay rent on time or early. Obvious stuff, but rare enough to make you stand out and have real value to your innkeeper.
Where is the property tax reduction? Can landlord ask gov to waive the property tax?
Haha. Good luck
They’re actually spending more than 50+% of their income on rent.
Lol this news station is the definition of cringe
The system needs to be replaced by a better one!!!
Your joking right? The rents are at bottom now just starting to go up?
We need rent control/reduction across the entire United States.
My landlord has dogs: I've been bit and also a neighbor has been as well. Since the bites didn't break the skin, animal control said nothing can be done. The dogs also crap outside and the landlord leaves the crap for days. She is deeply inconsiderate and plays loud music. She also has screamed at the neighbors complaining. Eventually, they stopped .... It doesn't matter how much I complain, she acts (and is) entitled since her family owns the place. I hate living here but am beginning to think she enjoys my frustrations. Gotta love the entitled
Mom dad, I want my rent lowered, look at this video.
😂😂😂😂 sure, we will just ask our landlord to lower the rent and I’m sure they’re just excited to do so…there’s still a housing shortage, and there will always be someone else behind you willing to pay what the landlord is asking
This news piece is very tone deaf
Can we have a reduction on evening else, like property tax, repair costs, insurance, mortgage?
Why are people not talking about roommates?
how about asking for a tax reduction for every single American except for the politicians
property owners in these comments be salty af.
This maybe an advice for those living in areas which aren’t in demand. The landlords in most areas of LA will never fall for this as we charge rent according to the market and expenses to maintain the property. And the latter has been rising much faster than the rent thanks to our great leadership from democrats.
Considering that almost all landlords are illegally price gouging using RealPage and rents have spiked 26% since 2020, renters should be furious.
All the small landlords will just cut losses and sell to corporate real estate then youll never qualify if you're a bad renter
The proterty tax, HOA fees, insurance, and plumbing repair cost keep
going up. What makes them think that the rent is negotiable?
To much greed in CA💩🙈🤑
Thats okay, I dont feel like being laugh at.
Tenant: May I please have a Rent reduction in our lease agreement?
Landlord: No, thank you.
Having some units be empty is part of the business. Moving is much more of a burden on the renter than the owner. That is why they never lower it is cost you multiple years of the price increase to move.
Rents are skyrocketing in California. People can hardly afford to meet their rents. Who is going to solve this problems. The city must intervene to control the rents. Families have started sleeping in their vehicle with their children due to rent increase in each facilities.
True good advice here. In the IE there are lately huge numbers of FOR RENT signs everywhere. Also like the lady here, don't call & complain about every little thing. My rent has only increased 3% total in the last 8 years, about $150 since 2015
LMFAO.
Has this ever worked for anyone? My landlord would call me a trouble maker for trying to negotiate the rent.
Another reason why you need an agent to help with a lease. I negotiate often on behalf of my clients. But you need to have good credit usually in order to offer a lower amount.
Government needs to lower real estate taxes and provide incentives to help seniors. Many who retired before the current government now have to go back to work, because their retirement savings is now half worth. 😠
This is a bunch of nonsense. I have paid rent in Ontario for 3.5 years and it just kept elevating . When I asked to speak to the owner, the property management said that I deal with them . They went on further to say that market rates contribute to how their price setting is implemented. Meanwhile, the same owner built another apartment complex right down the street. I am sure that the elevated rent we were forced to pay, contributed to the capital for that new residential construction. This is right in Ontario on Inland Empire Blvd about 5-8 minutes from the Ontario International Airport. This is not capitalism. That is sheer greed. Diversifying your portfolio off the backs of median income earners is financially insensitive and shows that honoring tenant loyalty who have a good track record of payments is irrelevant.
Bet that guy from
KTLA news is leaving with his parents and don't know anything about Renting protocol
I've seen landlords leave apartments vacant for 1 yr, just because they did want to keep the rent they same. After 2 months they already lost whatever they gain the would from the increase.
Rental Stockholm syndrome is a coping mechanism to a captive or abusive living situation. Renters develop positive feelings toward their landlords or abusers over time.
I wonder what’s going to happen if we have law that we only pay 20~30% of our wage? It will be equal to all
Yeah, tell that to the Irvine Company, who always cite Market rates as an excuse to hike rents on every renewal.
"Experts say." 🤣 I love the Internet advice so much. 😆
Yeah...Good luck w/ that. Many landlords have mortgages & CA state and county property taxes that are paid for by rents. Do you expect a landlord to turn his investment from a cash positive or cash neutral ROI, to a negative cash flow (paying out of pocket each month)? I don't think so.
This is very bad advice. You might get away with no increase but don’t expect a decrease in rent. I’m a property manager so I’m speaking out of experience.
But isn’t rent increase allowed Feb. 1, 2024 through June 30, 2024 only?? It’s supposed to go down by then no?
Not in Long Beach , rent goes up 10% every single year.
A privileged person who probably never rented and has generational wealth is given renters advice, okay buddy haahah
You probably hit the nail on the head, because that's how persons in those positions 'get deals' on pretty much everything__they negotiate the best price 'for them'!
In turn, they most likely pay about 1/3 less than the average person on everything from housing to tv's, to cars__because they believe EVERYTHING's negotiable. 😛😒
The cool down is due to people not qualifying.
Even in Riverside… for a young single person they want nearly 1800 for a studio!!!! And average 1 bedrooms over 2k… not including utilities and all your other expense so ya after taxes taken from income it will be about half what I get paid… oh but they want 2.5-3x your gross income… how about PAY US FAIR WAGES FOR THE WORK WE DO??!!! Luckily I have a documented ESA to avoid the ADDITIONAL $50/month rent to own a pet and $500 deposit fees 🙄
I do the same with the repairs…. But yet my rents been raised 600 each year for the last couple years in the same place……
Lmao I’ve tried this but the manager always says ‘it’s supply and demand’ so they are fine with the price because they know someone will pay.
Market rate rents are dropping, almost nobody pays market rate! They are leaching off landlords and have been for years
we asked and they increased rent, if we didnt ask they said they wouldve kept our rent the same
How to lower your rent ? Buy a Home ! 😅😅😅😅😅.
Mmm. Monthly payment is flexible? Yeah, it goes upwards all the time.
1/3 on rent is quite good. I must be living on the wrong planet.
You shouldn't be doing your own repairs. Landlords are the biggest crooks there are in business. If they refuse the repairs, call County inspectors. If they raise your rent based on calling the County or make repairs, that's retaliation and you should sue them. Landlords have a legal obligation to make your dwelling habitable. Landlords are one of the biggest causes of crime. They don't manage their properties, they also co-opt the County and City, as well as law enforcement to handle problems they are responsible for. The only way to get landlords to comply is simply start levying heavy fines. As far as law enforcement, if there is an ongoing problem on the property with a tenant that violates penal codes, if law enforcement is called out for a forth time, then that fourth time will be a fine to the landlord and the fines should continue each time law enforcement is called out for the same penal code violation (noise, drug dealing, etc). Even when landlords know residents are dealing drugs they don't call police, they expect tenants to do it. Wrong. The tenants are not responsible for managing the property. The millions of dollars landlords knowingly collect from drug money laundering needs to be prosecuted. Landlords who are a scurge on society need to face consequences.
People happy to be doing repairs themselves on a property they will never own have a slave's mentality.
@alphajava761,
YOU'VE SAID A MOUTHFUL, AND I SECOND THAT!!! 💖🙌😺
@@Albert-ze1bl ,
TOTALLY AGREE! The only way I would do such a thing is if I were getting a discounted rent in proportion to the maintenance/repairs. And that would be 'per specific month', not ongoing. 😛
No it's time for you to pay your fair share, Stop with the free loading
Need to reduce wages, insurances and property taxes too.
😂 your land lord will say, no and good bye there are others on the waiting list . The Gov is responsible for allé these mass, we need changes on prop taxes, HOA, health ins etc …. We are suffering.
Vote No! on any election ballot measure that will make property taxes higher. Higher Property taxes= Higher rents
Bro im turning 18 in 3 three years and wont have anywhere to live
Just for this I’m raising the rent on my tenants
How about you just not steal my deposit when I move out?
😂😂😂 this is a waste of time I stay in San Diego, Ca where a 1 bedroom is $2200-$2400 on average please !
Now condos are different. If they have a good tenant they will work with you
Then you have rent control and non rent controlled homes. It’s complete chaos and unfair
I spent more than have of my paycheck funding ukraine and Israel 😂
If you negotiate rent reduction to the landlord they wont rent to you.
Hmmm 🤔 owners increase & descrease rent.
City Counsel will pass: "rent increases are racist" ordinance. by adding 15% tax on rentals.
My land lady is from Iran. I wonder if she'll go for it?🤔
💩 💩 💩 💩
I'm not dropping the rent don't ask you can't afford move out that bull it's not going too work on me!
😂😂😂😂😂😂😂. I have a Persian landlord that fights to the nail just to fix anything. He must not know about Persian slumlords they won't do 💩 much less reduce your rent. That was a funny joke lol 😂😂😂😂😂
Lol Landlords gonna laugh and say go live in one of those units then. There's always some dupe who's going to pay what they ask.
Instead of rent reduction, once your 1 year is up and you get an increase, you can always negotiate it... I've done it many times and got lucky... with no increase or met them halfway. Just be a decent tenant and you might get lucky as well.
@mikeymike1960,
However, that only works when you have a lease, not once you're month-to-month. 😺
@@debracisneroshhp2827 month to month is rare these days
WOW I didnt know this worked. I wonder who else will give me reductions just by asking lol
they will not match nothing they will watch you leave and rent to another who will pay
As a land lord I would laugh at you
the market right now is high