#AffordableHousingInLA #REAPAffectedApartments #LosAngelesRent #SmartRentingDecisions
Hey there, it sounds like you’ve stumbled upon a real gem with your current living situation in a REAP affected apartment in Los Angeles! 🌟 Paying less than $1000 for a one-bedroom in LA is truly a steal, especially considering the notoriously high cost of living in the city. 🌆
Why Give Up a Good Thing?
You’re absolutely right to question whether giving up this amazing deal would be worth it. Let’s break it down:
1. **Affordability**: Given the current state of the rental market in Los Angeles, finding a comparable one-bedroom apartment for less than $1000 may be close to impossible.
2. **Convenience**: Moving can be a hassle, both physically and financially. Staying put can save you time and money that would be spent on packing, hiring movers, and setting up a new space.
3. **Security**: Being able to rely on a stable living situation, especially in uncertain times, is invaluable.
Considerations to Keep in Mind
1. **Potential Risks**: While your current rent may be below market rate due to REAP regulations, there could be risks associated with staying in a building that is under scrutiny. It’s important to weigh the risks against the benefits.
2. **Long-Term Plans**: If you see yourself living in LA for the foreseeable future, locking in a low rent could provide financial stability in the long run.
3. **Quality of Living**: Evaluate the overall condition of your apartment and building. If there are major maintenance issues or safety concerns, it may be worth considering other options despite the low rent.
Ultimately, the decision to stay or move is a personal one and depends on your individual circumstances and priorities. It’s important to consider not just the immediate cost savings but also the overall quality of life and future implications. 🤔
Remember, finding affordable housing in Los Angeles is no small feat, so holding onto a good deal like yours could be a wise choice in the grand scheme of things. Whatever you decide, weigh your options carefully and trust your instincts. Good luck! 🏠💸
As you stated, you’re going to have to leave at some point to move in together with your girlfriend. Assuming that this never changes, then I suppose your question now becomes: What should I do with this rent stabilized apartment (again, assuming it stays this way) after I am ready to leave?
I think #3 and #4 as you listed are certainly options if they are possible. I personally, cannot think of any other options (as you say subletting is a bad idea). Overall, it sounds like you have done a fair amount of research into this topic and are actually well equipped to deal with the situation once it happens.
The last bit of “advice” I can give is to not worry too much about “losing out” on this rent situation. Your life will always be changing, and you simply just have to adapt to your new circumstances. Sometimes, that means giving up things that were good for you. Hopefully in this case, the apartment can continue to be good for someone else, too.
Sound like you are stuck between a financial situation and a lifestyle situation. Since the lifestyle side of things is TBD, I’d stay in the apartment until either the lifestyle side changes or the apartment goes out of REAP.
I feel your gf on the industry slow down. Its difficult out here for us.
My advice would be enjoy the cheap rent while you have it. Since you are in no rush to move into a place together until you get more financial security, save money and pay down your loans. This will give you more money down the road for your own place.
Also look into LA county first time home buyer programs. Esp while your income is still on the lower side. They have several great programs for first time buyers that will allow you to look at condos with much less than 20 percent down.
Honestly at this point it feels like you and your gf should stay put. You’re both in enviable positions rent-wise. Could you save some money if you eventually move in together? I’d say probably not, since you’re both likely paying far below market.
Moving in together is nice, but there’s an emotional as well as logistical aspect to it. Delaying moving in together is very different because of your situation than say “being scared to commit”. Ohh well, that’s enough digression.
TLDR; I’d stay where you both are, and enjoy the low rent.
Move in with girlfriend, move gf roommate into your old place.
Options 2,3, and 4 all sound extremely scammy and misusing the purposes of the tax funded programs you are benefitting from.
Both of you will probably take a big financial hit to find a 2br or larger 1br compared to what you both have now. Neither of you currently would deal well with a financial surprise.
Have her sleep over occasionally while her roommate takes care of the cat. When finances improve or your rent jumps reevaluate at that time.
>Hope I get a good job and use this apartment as a dedicated office I could deduct on my taxes (need to ask my dad about this as he is a CPA)
This doesn’t apply if you’re a W2 employee – only if you’re self-employed/1099.
Have your girlfriends best friend take over your apt and move in with your girlfriend?
If your girlfriend moves out of her apt to move in with you, her best friend will likely either move or have to find a new roommate anyway.
Your apartment is just fine for you two and your pets to live there. It’s a temporary situation, rentals should never be looked at with such pickiness and entitlement.
You both would be an idiot not to use this situation to your advantage.
I don’t understand options 3 and 4.
Why would you suddenly need or plan on needing a dedicated work space? And a workspace in a construction zone for an indeterminate amount of time (after which the price will hike)?
Why would your parents who wish to buy property want to rent your unit? Are they going to live in it? They don’t mind the space? Or are they buying the whole complex outright?
Wow. I was a grad student in LA multiple decades ago, and you aren’t paying that much more for that apartment than I did then. Given the low stipends/fellowships of the grad student life, that sounds like a gift (given the things that are wrong aren’t things that you are worried about.)
What bug spray do you feel works the best? Or do you make your own special concoction?
Living frugally and paying off debt rocks, but not at the expense of safety/health. The stairs are about to collapse? I’d consider this a great opportunity to find a new place with your girlfriend, and I wouldn’t want to place friends or family or any human in that predicament. Would it survive an earthquake?
Yes, yes you would. No not give this up. If I were you, they would have to blast me out of that place.
$950 rent in Los Angeles, California
what are we talking about here?
What were the issues in your current apartment that the housing authority penalized your landlord for?
>stairs are literally collapsing
Rule of thumb, you can’t save money if you are killed in a building collapse.