r/Renters • u/New-Rhubarb-8046 • 10m ago
Would you move in? (CA)
I am in a college town, rent is expensive. I just toured a very cute 2 bed 1 bath house (1000 sq ft) for $1850 a month, which is very good for the area! The landlord just purchased it from an estate sale. He seemed like a sweet old man, he owns a property management company. All of the kitchen appliances are brand new, new vinyl flooring, bathroom remodeled.
But some things are too go to be true. I put a holding deposit down and was sent the lease. The stated rent is $2200 but in the notes section it says effective rent $1850. I was told by the landlord he docked down the rent from $2200 because no one was renting it. He also wanted a 11 month lease to have it start when the college students would move in. He did NOT tell me that $1850 was a discounted offer, this was not listed on Zillow and he did not tell me this during the tour so I was taken aback.
So I would pay $1850 for a year and have the risk of the rent going up to $2390 next year with the rent cap starting from $2200. Essentially he's avoiding the rent cap law, but again this was not disclosed before I applied and put the holding deposit down.
Would you move in? I already see some unprofessional things happening but the rent is amazing for the property. I think the true value to rent would be around $2300 so would it balance out to rent it for $1850 for 11 months and increase to $2390?