SF rental crisis: secret sauce for leases

Experts reveal how to land SF apartments amid record rent hikes.

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SF rental crisis: secret sauce for leases

Experts reveal how to land SF apartments amid record rent hikes.

In brief

Experts reveal how to land SF apartments amid record rent hikes. SF renters can win leases by showing flexibility, prequalifying with property managers, and waiting for older listings in a market with 26% rent increases. Originally reported by The San Francisco Standard.

SF rental crisis

A modern apartment building stands behind a grassy park where a person jogs on a path and another walks near trees and bushes on a sunny day.

San Francisco has the highest annual rent increase in the country, up nearly 26% from last September.

Median rent prices

A white hatchback car is parked on the street in front of a brick building with a large “APTS FOR RENT” sign and a contact number.

The median rent for a one-bedroom is $3,915 and a two-bedroom clocks in at $4,640.

Vacancy rate

Just 2.6% of San Francisco apartments are vacant.

Shalini Sadda's tip

A man and woman in cowboy hats and fringed outfits sit on a patterned-covered couch, holding a mandolin and guitar in a cozy living room.

Flexibility on move-in dates can outweigh a stronger offer elsewhere.

“A move-in date or term length that fits the owner’s plans can outweigh a stronger offer elsewhere”

Brit Bertino's tip

A woman in a beige trench coat and blue shirt stands on a grassy area by the water with two geese behind her and a city skyline in the distance.

Call property managers directly to prequalify for listings.

“Call the property management companies directly and let them prequalify you”

James Waver's tip

James Waver's tip

Know what you want and say why it’s the perfect fit.

“This is exactly what we’ve been looking for and this is why i would really appreciate it if i could get in to see the place at the first opportunity”

David Chesnosky's tip

Wait for older listings that may have more flexibility.

“Renters tend to jump on the newest listing but an older one could be a great apartment and the owner may have more flexibility on the move-in date or terms”

Rob Warnock's tip

Rent increases may slow but seasonal peaks could cause more hikes.

“November is typically the slowest month for rentals with december a close second”

What happens next

What happens next

Renters should act fast to secure leases before January's market revs up.

“By january the market is usually revving up again and every month that comes after is likely to see increases until the fall”

The main idea

SF renters can win leases by showing flexibility, prequalifying with property managers, and waiting for older listings in a market with 26% rent increases.

Read the original on The San Francisco Standard

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