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According to yesterday's article in the Examiner, rent prices are dropping. Plummeting by "$200 citywide," says one broker. Fantastic news, right? Not according to blog de revolución BeyondChron, who thinks prices are still too high. Which: true. (Curbed mercifully filters down the BC article here.) But we can't imagine prices coming down to a reasonable price any time soon, especially for those of us living on a single income who don't string together zeros and ones for a living. In related news, ultra-compact green complex Cubix is slashing prices on those boxes they call apartments (think efficiency studio, only cozier), and One Rincon Hill could use a little ($4,500+) love too.
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Looking around the Castro, I haven't seen bottom end rents drop. 2 years ago I found a $1000 studio right next to Church Station, and an $1100 studio right next to Castro Station.
Nothing seems to have dropped to that level again.
Question: can I go see my landlord and ask him to lower my rent then? I will be in a month-to-month lease soon and it is rent controlled.
I guess that for most landlords it is cheaper to have someone staying a full year at -5% rather than someone paying full price who can potentially leave anytime.
Anyway, this is good news (even for those putting together one and zeros)
You can ask all you want. But chances are unless you rented in the last year, your controlled rent is still below market.
I wonder if this applies outside SF in other parts of the bay area. I've seen rents around the bay go up pretty dramatically in the last 2-3 years.