Rental Options for Students
In the Daily Bruin this morning I read about the hundreds of students and staff who must move out of the Club California apartment complex because some other company plans to build $300-700K condominiums.
Roebling complex sends off tenants
By Shauntel Lowe, Daily Bruin contributor
Those still searching for an apartment to rent can cross the Club California apartments off of their "to-see" lists.
About a week and a half ago, the approximate 600 tenants of the Club California apartment complex on Roebling Avenue in Westwood, most of whom are UCLA students and staff, received letters notifying them that Club California had been bought by CRS, a company based in San Diego. The company intends to convert the apartments to condominiums.
Tenants must either move out or buy a condo from the new company, which will range in price from about $300,000 to more than $700,000, depending on the number of bedrooms.
A meeting was held on Monday evening in the pool area of the complex to give tenants an opportunity to ask questions of Property Manager Tony Mouallem as well as of Ruth Pugh, a realtor from Century 21, and others involved with the project.
From the beginning it was clear what was on the minds of most of the residents:
"When do we have to move out?"
The question was projected by various voices in the crowd, seated alongside the pool. Many were concerned about moving with final exams coming up. Tenants were assured they would have at least until the end of their leases, many of which are month-to-month or ending during the summer, to leave.
"We'll honor the lease, definitely," Mouallem said.
Pugh said construction would begin immediately on individual units after tenants leave.
Depending on what floor individuals live on, they will have more or less time after the end of June to stay, as the construction is going to occur in phases, starting with the first floor.
Tenants are also the first to have the option to buy the condo units, though most at the meeting focused on moving out, despite encouragement from Pugh to purchase.
"Our ultimate goal is to help you be homeowners," Pugh said repeatedly throughout the meeting.
To a young woman in the crowd who raised her hand and said she had "zero interest" in purchasing a condo, Pugh replied, "But what about your parents?"
The apartment-to-condo conversion will involve all new kitchens, granite countertops, new light fixtures, maple cabinetry, a new gym and other general improvements. The size of the units will not change.
UCLA alumnus Alex Bastian said he was concerned about the increasing cost of property in Westwood.
"When an area increases in value like this, tenants suffer," he said.
Bastian said he is concerned about finding another place to live, not so much for himself but for his younger brother, who is also his roommate and a current student at UCLA.
"I don't want this to affect his schooling. Any break from a habit is not good during school time," he said. "As prices go up and facilities get worse and worse, where are we going to stay?"
Brian Cayton, a fourth-year aerospace engineering and history student who has lived in the complex for two years, described it as one of the best places to live in Westwood, though he said the rent was expensive.
"I think it's been great because the management was always very nice. Anything that you needed, they kind of allowed for," he said.
One tenant, Dennis Jong, a UCLA alumnus currently employed with the UCLA Office of Residential Life, expressed interest in buying a unit. He said he was "actually sad" when he heard the news about the conversion because he believes he will have to move out of the complex he has inhabited for the past five years.
"(I'm) just sticking around 'cause I can walk to work," he said.
In the 1980s, the complex was zoned to become condominiums, but out of a sense of obligation to provide apartments for students, property managers chose not to convert until the recent offer by CRS.
Sandy Brown, president of the Westwood-Holmby Property Association, said she doesn't think the apartment-condo conversion is a trend in Westwood that students need to be concerned about. The trend seems to be for hotels to convert into condos, she said.
Shauntel Lowe, slowe@media.ucla.edu
Web Address: http://www.dailybruin.ucla.edu/news/articles.asp?ID=33511
Copyright 2005 ASUCLA Student Media
Who the heck can afford to leave there? Obviously, some wealthy students or staff members.
Housing is the biggest problem anywhere there is a college or university campus. Finding an affordable place to live for students is a problem here at UCLA, Berkeley, and even at Yale and at Oxford.
Then there are the episodes of town v. gown.
I remember one case in which some old lady who lived next door to a frat complained about the noise coming from the frat house.
Now unless the lady lived in her place since the late 1800s, I happen to know the frat house was there for over a century. What the heck was she thinking moving into fraternity row -- a bunch of quiet, celibate monks?
I think it unfair to expect a quite neighborhood when living next to a fraternity house. (Mind you, I like my silence, but I do come to expect certain aspects when living in or near a fraternity.)
A solution I was thinking . . .
Assumptions
The land or property surrounding any college or university campus is one of the most expensive in the nation esp. here at UCLA (I still cannot believe we live next door to Bel Air and nearby to Beverly Hills). Granted that landlords must pay the land taxes and the city should collect. With ever increasing rent rates, where are students expected to live -- in cardboard boxes in Westwood Village (on Telegraph or in Peoples' Park in the case for Berkeley)?
Landlords or the land owners seek a profit on their investment.
Profit = Revenue - Expenses
Revenue = (rent rate) x (number of units occupied)
Expenses = taxs + maintenance & salary for facilities managers
If Revenue > Expenses, then a profit is earned.
If Revenue < Expenses, then no profit and the investment is seen as bad.
Although the property tax surrounding any college or university campus is rather high, certainly, there must be some potential profit in renting to students otherwise it would not be a popular investment option, hence the case with the CSR buying the complex just off UCLA campus.
Problem
Rent rates are too high for students to live in housing that is located nearest the school to which they attend.
A Solution
I suggest a three prong solution. All must be applied to guarantee maximum effect.
1. Tax deductions for renting to students, faculty, and staff from any college and university.
2. This deduction is applicable to all land within a five miles or a five blocks radius of any college or university campus.
3. Extremely reduced rent for students, faculty, and staff from any college and university but the rent for non-students may remain at competitive market rate. In other words, if the competitive market rent rate is $1 (this is only an example using numbers to keep it simple), then that little old lady who insists on living next door to a frat can pay that rate, but the students will only pay 5¢.)
One can quibble over the details e.g. should students just pay 5% of the rent rate, should it be five miles or ten miles. These can be addressed on a case by case bases but the overall scheme must be applied to work.
The upshot of this scheme is within a certain radius manageable for students to commute to & from campus, they will pay very cheap rent because the land-owner has a tax incientive but not to eliminate those who truly want to live near a college or university, they can pay the market rate for being un-affiliated with the school. They are taking a spot that is better occupied by a student, faculty or staff of the college or university. For this, they need to be . . . punished (at the moment, I cannot think of a softer word, but this diction does disclose my heart-felt sentiment) or made to pay.
As a friend pointed out, my solution may seem elitist in favour of students. Given the academic lifestyle, the burden of where one sleeps should not distract any student from their studies especially during Finals and the close of the academic year when everyone is moving -out/-in or leaving college.
What are solutions to the ever present housing crisis that plagues every college or university?
Roebling complex sends off tenants
By Shauntel Lowe, Daily Bruin contributor
Those still searching for an apartment to rent can cross the Club California apartments off of their "to-see" lists.
About a week and a half ago, the approximate 600 tenants of the Club California apartment complex on Roebling Avenue in Westwood, most of whom are UCLA students and staff, received letters notifying them that Club California had been bought by CRS, a company based in San Diego. The company intends to convert the apartments to condominiums.
Tenants must either move out or buy a condo from the new company, which will range in price from about $300,000 to more than $700,000, depending on the number of bedrooms.
A meeting was held on Monday evening in the pool area of the complex to give tenants an opportunity to ask questions of Property Manager Tony Mouallem as well as of Ruth Pugh, a realtor from Century 21, and others involved with the project.
From the beginning it was clear what was on the minds of most of the residents:
"When do we have to move out?"
The question was projected by various voices in the crowd, seated alongside the pool. Many were concerned about moving with final exams coming up. Tenants were assured they would have at least until the end of their leases, many of which are month-to-month or ending during the summer, to leave.
"We'll honor the lease, definitely," Mouallem said.
Pugh said construction would begin immediately on individual units after tenants leave.
Depending on what floor individuals live on, they will have more or less time after the end of June to stay, as the construction is going to occur in phases, starting with the first floor.
Tenants are also the first to have the option to buy the condo units, though most at the meeting focused on moving out, despite encouragement from Pugh to purchase.
"Our ultimate goal is to help you be homeowners," Pugh said repeatedly throughout the meeting.
To a young woman in the crowd who raised her hand and said she had "zero interest" in purchasing a condo, Pugh replied, "But what about your parents?"
The apartment-to-condo conversion will involve all new kitchens, granite countertops, new light fixtures, maple cabinetry, a new gym and other general improvements. The size of the units will not change.
UCLA alumnus Alex Bastian said he was concerned about the increasing cost of property in Westwood.
"When an area increases in value like this, tenants suffer," he said.
Bastian said he is concerned about finding another place to live, not so much for himself but for his younger brother, who is also his roommate and a current student at UCLA.
"I don't want this to affect his schooling. Any break from a habit is not good during school time," he said. "As prices go up and facilities get worse and worse, where are we going to stay?"
Brian Cayton, a fourth-year aerospace engineering and history student who has lived in the complex for two years, described it as one of the best places to live in Westwood, though he said the rent was expensive.
"I think it's been great because the management was always very nice. Anything that you needed, they kind of allowed for," he said.
One tenant, Dennis Jong, a UCLA alumnus currently employed with the UCLA Office of Residential Life, expressed interest in buying a unit. He said he was "actually sad" when he heard the news about the conversion because he believes he will have to move out of the complex he has inhabited for the past five years.
"(I'm) just sticking around 'cause I can walk to work," he said.
In the 1980s, the complex was zoned to become condominiums, but out of a sense of obligation to provide apartments for students, property managers chose not to convert until the recent offer by CRS.
Sandy Brown, president of the Westwood-Holmby Property Association, said she doesn't think the apartment-condo conversion is a trend in Westwood that students need to be concerned about. The trend seems to be for hotels to convert into condos, she said.
Shauntel Lowe, slowe@media.ucla.edu
Web Address: http://www.dailybruin.ucla.edu/news/articles.asp?ID=33511
Copyright 2005 ASUCLA Student Media
Who the heck can afford to leave there? Obviously, some wealthy students or staff members.
Housing is the biggest problem anywhere there is a college or university campus. Finding an affordable place to live for students is a problem here at UCLA, Berkeley, and even at Yale and at Oxford.
Then there are the episodes of town v. gown.
I remember one case in which some old lady who lived next door to a frat complained about the noise coming from the frat house.
Now unless the lady lived in her place since the late 1800s, I happen to know the frat house was there for over a century. What the heck was she thinking moving into fraternity row -- a bunch of quiet, celibate monks?
I think it unfair to expect a quite neighborhood when living next to a fraternity house. (Mind you, I like my silence, but I do come to expect certain aspects when living in or near a fraternity.)
A solution I was thinking . . .
Assumptions
The land or property surrounding any college or university campus is one of the most expensive in the nation esp. here at UCLA (I still cannot believe we live next door to Bel Air and nearby to Beverly Hills). Granted that landlords must pay the land taxes and the city should collect. With ever increasing rent rates, where are students expected to live -- in cardboard boxes in Westwood Village (on Telegraph or in Peoples' Park in the case for Berkeley)?
Landlords or the land owners seek a profit on their investment.
Profit = Revenue - Expenses
Revenue = (rent rate) x (number of units occupied)
Expenses = taxs + maintenance & salary for facilities managers
If Revenue > Expenses, then a profit is earned.
If Revenue < Expenses, then no profit and the investment is seen as bad.
Although the property tax surrounding any college or university campus is rather high, certainly, there must be some potential profit in renting to students otherwise it would not be a popular investment option, hence the case with the CSR buying the complex just off UCLA campus.
Problem
Rent rates are too high for students to live in housing that is located nearest the school to which they attend.
A Solution
I suggest a three prong solution. All must be applied to guarantee maximum effect.
1. Tax deductions for renting to students, faculty, and staff from any college and university.
2. This deduction is applicable to all land within a five miles or a five blocks radius of any college or university campus.
3. Extremely reduced rent for students, faculty, and staff from any college and university but the rent for non-students may remain at competitive market rate. In other words, if the competitive market rent rate is $1 (this is only an example using numbers to keep it simple), then that little old lady who insists on living next door to a frat can pay that rate, but the students will only pay 5¢.)
One can quibble over the details e.g. should students just pay 5% of the rent rate, should it be five miles or ten miles. These can be addressed on a case by case bases but the overall scheme must be applied to work.
The upshot of this scheme is within a certain radius manageable for students to commute to & from campus, they will pay very cheap rent because the land-owner has a tax incientive but not to eliminate those who truly want to live near a college or university, they can pay the market rate for being un-affiliated with the school. They are taking a spot that is better occupied by a student, faculty or staff of the college or university. For this, they need to be . . . punished (at the moment, I cannot think of a softer word, but this diction does disclose my heart-felt sentiment) or made to pay.
As a friend pointed out, my solution may seem elitist in favour of students. Given the academic lifestyle, the burden of where one sleeps should not distract any student from their studies especially during Finals and the close of the academic year when everyone is moving -out/-in or leaving college.
What are solutions to the ever present housing crisis that plagues every college or university?