Archstone Willow Glen

 
The complex is very nice, but a lease renewal increase by 12% is outrageous and criminal. Had to move out, but did not want to. Overall, the staff and maintance are great, but the increase was way unjustified...National average is 3%.

Last updated: 4/11/2011

User Responses
From: Anonymous	Date: 05/04/2011
I agree...I had the same problem with Archstone at Kiely/Saratoga years ago. Here is the deal...its called the Real Estate game. One buyer comes in, does a few cosmetic fixes, then bumps all the rents up as fast as they can. They are not interested in long term residents...why? Because the value of those complexes is based on the amount of rent they collect...that is called a commercial appraisal AND my friend, then they can sell it to ANOTHER big group at a much higher price. See how that works? Pretty good huh? for them but not their "customers". If they don't plan on selling it right away, they can still take more money out of the building with this new inflated "value" and then go out and put down 10%, get a great loan that you nor I could get and buy more properties... They don't care about you, they don't care that you moved...it is so sad...all greed, and because they bump up prices, all the rents are starting to creap up again...WHY because there are so many people losing their homes and looking for rentals (that is what one property manager told me). I'm leaving California, just not worth it anymore...all but $45 of my income goes to my rent. Really stupid for me to stay.
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