Occupancy drops to 89 percent at larg...

Occupancy drops to 89 percent at large rental complexes in Santa Cr...

There are 38 comments on the Santa Cruz Sentinel story from Jul 24, 2010, titled Occupancy drops to 89 percent at large rental complexes in Santa Cr.... In it, Santa Cruz Sentinel reports that:

After bidding farewell to a larger than usual number of university graduates, Cypress Point is offering a deal to lure student renters before the September rush: $1,400 off the move-in rent with a 14-month lease.

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The Scream

Santa Cruz, CA

#1 Jul 24, 2010
"Demand is up at smaller complexes."

'Cause they're CHEAPER!

Pacific Shores probably isn't a good comparison to use here because some of its units are lower-priced "affordable" units for people with qualifying income. Those always fill up.
Westside Dad

Santa Cruz, CA

#2 Jul 24, 2010
I wonder if rents could be down at the Felix street complex due to all of the murder and stabbings that take place within walking distance ?
Eastside Santa Cruz

Santa Cruz, CA

#3 Jul 24, 2010
Westside Dad wrote:
I wonder if rents could be down at the Felix street complex due to all of the murder and stabbings that take place within walking distance ?
It's attributable to large complexes being less friendly places. More strangers, dealer types & weirdos coming & going at all hours of the day & night.

Most of the large complexes I've seen tend to be grimier & a bit more gritty.

“Take that !”

Since: Feb 08

capitola CA.

#4 Jul 24, 2010
did you see those rents OMG reminds me of my first mortgage, what a rip off, it is the students that drive up all the rents.
Just my opinion

Alameda, CA

#5 Jul 24, 2010
It's just another sign of the tough times and resulting consumer efforts to economize. That's why Mervyn's and Gottschalk's are gone while K-Mart does OK, and better restaurants are struggling while fast food joints are getting by.
All knowing

Santa Cruz, CA

#7 Jul 24, 2010
The Scream wrote:
"Demand is up at smaller complexes."
'Cause they're CHEAPER!
Bingo! This entire town is going downhill with car and home break-ins, parties, overcrowding, shootings, stabbings, unsolved riots, and uneasy state and country actions.

My car got broken into, some dingbat lady in a big black truck backed right into the same car- totaling it. I can't afford other peoples stupidity, so I moved to a rental instead of a ball and chain. I downsized 2/3 of everything and rented under $1000.

I suppose I am one of many who did or are doing that.
trisha0790

Santa Cruz, CA

#8 Jul 24, 2010
Holy cow! Those rents are incredible!

There must be more overhead in owning/operating a large complex thus driving up the rents. I know 6-plex apartments certainly don't charge that much!
June

Santa Barbara, CA

#11 Jul 24, 2010
That is so incompatible with the wages of any job listings at the back of the Sentinel.
a $1150 studio? Landlord traditionally require 3X rent in income. You would need to be making over $40,000/yr, which many people with decent jobs at the university don't even make. Where are the 50% who make below average wages living?
SC Longtimer

AOL

#12 Jul 24, 2010
I don't know about most of the larger complexes....rents are extremely overpriced - greed proliferates!
As for Pacific Shores....I lived there for 6 months....couldn't take the abusive behaviour of management...also, crime (lots of it) and punctured car tires in parking lot. I also suspected (as did several other tenants), that my apartment was entered by staff when I wasn't there. Many clues.
Although they tell you they have a security patrol from "First Alarm", this is absolutely meaningless! They show up to close the pool area nightly and chase away tenants who hang around past closing at 10:00 pm. People who don't even live, or know anyone who does, show up to use the pool. However, any other time, it takes a long time for First Alarm to show up...worthless. SC police show up faster. Management doen't like it when you call the police. It goes on record - bad publicity.
Also: management is untrustworthy and unreasonable; they will show you copies of rules and regulations before you move in and, a couple of months later, reverse and rewrite their rules and regulations to meet whatever situation comes up that they don't like. They also ignore certain ruels for certain tenants. I kept copies of these rule changes! You are left in the dust....."They reserve the right to modify their policies as they see fit."
This complex is managed by Woodmont, as are both Paloma del Mar and Vista del Mar, next door, in Freedom: I know people who have lived there also....same story with management there also, possibly worse. Woodmont seems to hire absolutely the worst people for their complexes. Both Freedom complexes are for senior citizens....what a shame for a senior to move into what seems to be a very nice environment, only to discover what is hidden beneath the beautiful surface! Many seniors can't afford to move elsewhere and must suffer the abusive management.
Unless you enjoy living in a dictatorship with very abusive management' don't move into any of these complexes!
June

Santa Barbara, CA

#13 Jul 24, 2010
If you look at the neighborhood near UC Berkeley, or San Jose state etc, there are a lot of apartments. Santa Cruz could really improve the situation so much by just zoning a few more acres for apartments. Students don't drive cars, and hundreds of them would go into a few compact buildings. Instead, we have a bunch of students commuting out into the redwoods or all the way to east santa cruz
The Scream

Santa Cruz, CA

#14 Jul 24, 2010
June wrote:
If you look at the neighborhood near UC Berkeley, or San Jose state etc, there are a lot of apartments. Santa Cruz could really improve the situation so much by just zoning a few more acres for apartments. Students don't drive cars, and hundreds of them would go into a few compact buildings. Instead, we have a bunch of students commuting out into the redwoods or all the way to east santa cruz
You know that condo complex up on High Street near the university, the big one that just finished selling out? It was supposed to be SRO apartments for students. The neighbors SCREAMED. No, No, noise, bad, traffic, students, evil.

The worst enemy to apartment housing in Santa Cruz is the Santa Cruz homeowner, determined to the last to maintain his/her "lifestyle" -- and more important, home equity. GOOD LUCK WITH THAT LAST. Maybe when people realize their homes won't make them rich, they'll lighten up. Because they'll be losing their homes, some of them, and looking for apartments to move into?
June

Santa Barbara, CA

#15 Jul 24, 2010
Yes - I'm a university worker (lab technician) and I think it gets overblown that Santa Cruz has a special burden to bear with regards to students. Where are graduating high school students and people in their 20s supposed to live?- They're supposed to disappear until they somehow make high income to afford a house? Actually, most moderate sized cities do have some sort of college.
I wanted to point out - did you realize that UCSC has among the most expensive dormitory rooms of any public school in the country? That has to influence the number of students going into town... not that the dorms are going unfilled
http://www.earnmydegree.com/online-education/...
Susan Karimchise

San Leandro, CA

#16 Jul 24, 2010
$1,175 for a studio!!!!!!!
Thats $40 a day!!
Jimbo

United States

#17 Jul 24, 2010
You can still rent a 2 bedroom apartment in Live Oak/Aptos/Soquel in a small complex for $1300... really not much more than it was 5-10 years ago.
hmmmmm

Santa Cruz, CA

#21 Jul 24, 2010
Rent in SC is a crime; home cost are ridiculous and don't even get me started on the impact that the ever increasing UC population is having on the area...OK just a little...rent for a studio/garage conversion (cute place, well maintained) in 1998 =$650.00. Same place 4 years later =$1150.00.$100.00 a year increases what? why? omfg? I asked the landlord what was going on as I knew there were no new mortgages; she had owned the place for years and the Landlord said "well I can always rent it to a UC student willing to pay the rent" so I moved and she did.
no vacancy

Santa Cruz, CA

#22 Jul 24, 2010
All knowing wrote:
<quoted text>
Bingo! This entire town is going downhill with car and home break-ins, parties, overcrowding, shootings, stabbings, unsolved riots, and uneasy state and country actions.
My car got broken into, some dingbat lady in a big black truck backed right into the same car- totaling it. I can't afford other peoples stupidity, so I moved to a rental instead of a ball and chain. I downsized 2/3 of everything and rented under $1000.
I suppose I am one of many who did or are doing that.
this entire town is really going downhill like you say.

the Mission Gardens Apartments -- managed by The John Stewart Company -- has a 100% occupancy rate, no vacancies. a management employee told me they have hundreds of families on their applicant waiting list.

yet Carl Reimer was brutally murdered here about three months ago by meth abusing gang bangers. there have been lots of vandalism and car break ins, domestic violence, gang activity, meth cooking, meth dealing and meth/alcohol abuse. the list goes on and on here ...

because rents are so expensive in Santa Cruz, all of these poor people here are stuck. they have no place to escape to.

worse, The John Stewart Company stubbornly refuses to admit there is crime and criminals at the Mission Gardens Apartments. so they are not going to evict anyone for being a threat to other residents and to the neighborhood.

thus the article carries some irony for me. i would be cheering if the Mission Gardens Apartments had some vacancies.
Nose to the grindstone

Newark, CA

#23 Jul 24, 2010
Sure glad I paid off the mortgage last month.
Here For Now

Vallejo, CA

#24 Jul 24, 2010
June wrote:
Yes - I'm a university worker (lab technician) and I think it gets overblown that Santa Cruz has a special burden to bear with regards to students. Where are graduating high school students and people in their 20s supposed to live?- They're supposed to disappear until they somehow make high income to afford a house? Actually, most moderate sized cities do have some sort of college.
I wanted to point out - did you realize that UCSC has among the most expensive dormitory rooms of any public school in the country? That has to influence the number of students going into town... not that the dorms are going unfilled
http://www.earnmydegree.com/online-education/...
Thats because real estate is high here, I bet the dorms at Pepperdine and any other university on the coast will be expensive too. If the cost of real estate permamently drops here, so will the price of rentals.
All knowing

Santa Cruz, CA

#26 Jul 24, 2010
Nose to the grindstone wrote:
Sure glad I paid off the mortgage last month.
It is water under the bridge for me, but does that make you feel safe from rents? If so, keep those "warm and fuzzy" thoughts.__it happens. My mortgage was fully paid off. Years ago. BUT I was Red-tagged out: it will cost hundreds of thousand to rebuild or repair. I am not paying that- let the place fall. For years I hated renting; but guess what- I am renting. Absolutely no way can I get a huge loan at my retirement age, so I had to grin and rent.
Richard

Oakley, CA

#27 Jul 24, 2010
Cypress point is a joke,sewer water flowing into the lagoon,water leaks in every unit and a failing intrastructure
not to mention the weak management who probably pays off inspectors

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