All Forum Posts by: Minka Sha

Like Joe said, Midtown rents are going up. I've heard from multiple friends that their fairly crappy apartments are going up. 700 to 1090 seems really high, unless the original amount is under market based on the quality of the apartment.

@Joe Bertolino

100k per unit in Midtown? I haven't seen anything that cheap in years. Am I missing out on something?

As per the letter from the PM company, their "market analysis" supports the 1095 rent. I know there are people who will pay that much but damn this is Sacramento - not some Bay Area town.

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thank you Jake Weir!

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Originally posted by @David Hutson:

Minka,

If the neighbor is in the same development I would contact the property management company and be upfront with them. If you are not in a lease then ask if you should be expecting a notice also. They may tell you if the owner is looking for that high of an increase.

That is a very high increase and it makes me wonder if the owner is looking to come in and do significant upgrades or is looking to sell the place. I can't see too many people staying in the units with that high of an increase. There are a lot of vacant units downtown right now.

If it were me I'd keep my eyes open for other deals around the area you are in. If you can show the management company the rents are reasonable they may not raise your rent but I don't think that is the case. That high of an increase sounds like the owner either wants to make a big change in the development or they wanted that tenant out. I would raise the rents significantly if I had issues with a specific tenant I wanted to get rid of. The tenant would either move or I would get a big increase to make it worth my time to deal with a bad tenant.

You should get at least a 60 day notice for that big of an increase if they do notify you. Plenty of time to move but I understand moving is a pain.

I like the idea of contacting the PM company but I also think that can go two ways 1) what if they "flag" me as a tenant who will have his rent increased next - in case they forgot about me. 2)

Good point on high increase, incomes have not gone up as the rents have gone up, so it's definitely a strange place in midtown. I agree with @Joe B.

Who would be the decision maker in the PM company for this? I'm wondering if the Property Manager even has any authority on this thing or I need to talk to someone else. This is a big midtown Property management company.

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I just checked my model I had estimated $368 per month ($92 per unit) for water stuff so for 1.5 months this isn't too bad as it includes some initial registration of $22 as well. I guess I need to get used to BILLS.

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I was wrong. It's city of Sacramento that provides the utilities to my fourplex.

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I live in midtown Sacramento and pay low 700s for 1 BR. Recently my neighbor got a letter for her rent going up from 700 to 1090, an increase of over 50%!!!

What are some ways to avoid this or negotiate before I get a letter next? Should I go try sign a lease? Any other suggestions? PM me if you have connections at property management companies who may be able to help. :-)

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thank you for all the comments guys. I'll check later tonight what I had estimated in my model. Great learning opportunity. :-) This is with county of Sacramento.

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I closed on a fourplex in early June and just received the water bill and it's $711.40 for the period of June 5th to July 20th.

This threw my math off. How can I get this under control??? Is this expected? I have a duplex and two cottages in the back. Duplex is 2 BR, 1 BA each side and cottages are 1BR/1 BA each.

Here is the break down:

Water flat charge

Waste water flat charge

Storm drainage flat charge

These total to 351.00

Then we have:

Garbage : 94

Street sweeping : 5

Recycling, Yard waste : 75.32

FINALLY:

Regional Waste water treatment: 161

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thank you for the reply Chris Vail. I'm wondering if it will change the assessments and then change the property taxes I get charged?

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has anyone received change of ownership addenda for their recent closing in Sacramento area? The form asks questions about expenses and rents on the property.

Here is the link to form:

http://www.assessor.saccounty.net/Forms1/PCOR%20Addenda.pdf

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All Forum Posts by: Minka Sha

Minka Sha has started 18 posts and replied 77 times.

Post: 50 percent rent increase OK?

Post: Sacramento Water Bill SHOCK

Post: 50 percent rent increase OK?

Post: Sacramento Water Bill SHOCK

Post: Sacramento Water Bill SHOCK

Post: 50 percent rent increase OK?

Post: Sacramento Water Bill SHOCK

Post: Sacramento Water Bill SHOCK

Post: Sacramento county change of ownership addenda

Post: Sacramento county change of ownership addenda