Should I Stay Or Should I Go?

Lakeside, San Francisco

On May 31, 2019, the current 1-year lease my roommate and I signed will end. Roommate will be leaving the San Francisco Bay Area for the East Coast to be nearer to his aging parents. Date not yet set. His current work set up is remote, so relocating out-of-state will not be an issue for him.

For now, I've made the decision to remain until the roommate has moved out. My best option would be to find another roommate. But after 5 roommates in 5 years (all but the current roommate were temporary), I don't want another roommate. Yet I can't afford the full rent. In 2 years or so, I might.

I met with the property manager last weekend to discuss a few options. She's agreed we'll chat again once the roommate has moved out.

I have looked at other places that I can afford but run into the following:
1. Size.
Most 1 bedrooms I can afford are too small. Ideally, I'd like a living area at least 700 square feet. I gave up a beautiful dining table that seated up to 8 because I didn't think I'd have room for it. In hindsight, I should have kept it. If I am going to move again, I am not giving up any more furniture.

2. Minimum income requirement.
I saw a 2 bedroom flat in the Inner Sunset I really liked. But the income requirement was 3 times my gross monthly salary. My official monthly salary doesn't meet the minimum. I do have other sources of income, but for privacy reasons won't disclose them.

3. Parking and non-coin operated laundry facilities.
Yes, I'm being very nit-picky about both. I gave up a garage to move to where I am. Although I have the option of driveway parking, I only use it when it's absolutely necessary. (Don't even get me started on roommate's girlfriend's car parked nearly every fucking weekend in the driveway).

A few Saturdays ago, I looked at 2 places. One had parking but no laundry facilities. The other, laundry facilities but no parking. I haven't used a coin-operated laundry machine since 2010. I'm too old, spoiled and lazy to have to go back to one.

Surprisingly, one of the places I looked at last month has not yet rented.  The homeowner/landlord emailed me yesterday asked if I'd reconsider with a reduced rent rate. I explained as much as I like the place, it's too small.

My vent about rent must come to an end. Gotta get cleaned up, showered and ready for work tomorrow. Stay tuned.

More more more - renting in San Francisco

Home Sweet Home

An update to my March 27, 2016 blog posting on the exorbitant costs to rent in San Francisco.

When I last wrote, the rent I pay for a shared 2-bedroom, 2-bath house was about equal to the median rate for a 1-bedroom in San Francisco.

On June 1, 2016, that will no longer be the case.

Because the house I rent isn't eligible for rent control, my part of the rent goes up $225. So that my housemate and I don't get blindsided with additional rental raises, we signed another 1-year lease to lock in the rate.

Despite the 15% increase (San Francisco rent control is currently 1.9%), this Lakeside district house's rent is still much lower than the median rate for a 2-bedroom.

Less is A Lot More Money - San Francisco Housing

source: youtube
San Francisco SOMA studio loft apartment

Apartments like the one pictured above can usually be found in big cities where space is a premium such as Tokyo, New York, Paris, Moscow, London, Hong Kong, and where I live, San Francisco.

The unnamed apartment complex is located in the SOMA (South of Market) neighborhood. Rents begin at $1500 with 441 square feet of living space. In another pricey city like New York, that'd be considered a bargain.

Currently, the median rent for a studio in San Francisco is about $2700 (source: RentJungle). One-bedrooms, $3096. The first studio apartment (1983) I rented in the Outer Sunset was $350.

Fortunately, the rent for the 1300 square foot, 2-bedroom, 2-bath house I currently share with 1 other person in San Francisco's Lakeside neighborhood is about equal to the median rent for a 1-bedroom. As it is not eligible for rent control, how long it stays reasonable is another story.

In case you're wondering: no, I won't move out of San Francisco.