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| Renting and Leasing |
Alternatives to Buying a Home
As a newcomer to the Bay Area, you may want to familiarize yourself with different neighborhoods and regions before determining where to buy. While some people strive to obtain homeownership, others realize that renting or leasing is a much more suitable decision for the short or long term. After all, you have only just arrived in your new city. With so many things to be done, making a large investment may be handled best after getting yourself acclimated to the area. If you have been relocated by your employer, the chance of another relocation may be in your future, in which case purchasing a house might not guarantee a return on your investment. If you moved from a rental, you may not be ready to take the plunge into owning your first piece of property. Allowing yourself time to settle into your new environment before committing to homeownership will give you time to get a feel for the various communities that make the Bay Area such a diverse place to live and decide which type of home is best for you.
While the Bay Area is certainly a great place to buy a home, it is also a great place to satisfy all renting appetites. With various units found throughout the city and loft construction on the rise since the turn of the millennium, finding a place to rent or lease in the San Francisco is not difficult. Finding the right place that meets your needs and suits your lifestyle is the key to finding a place you can call home. As other metropolitan cities have experienced slowing construction because of market volatility, San Francisco continues to add to its supply of renting and leasing inventory.
SNAPSHOT
In San Francisco, 43.3 percent of the city’s residents are renters, and you’ll find the city is a landlord’s market with occupancy at approximately 91.2 percent. According to Rental Guide magazine and its website www.rentalguide.com, mid- to high-end condominium units, rather than apartments, dominate properties currently under construction in the Bay Area, and the inventory of apartments continues to be reduced by condominium conversions. These factors combined with a healthy job market and the high quality of Bay Area life, keep the demand for rentals high.
As of February 2013, apartment in San Francisco rentals range from an average of $1,845 for a one bedroom to upwards of $2,364 for select three bedrooms depending on the area.
MOST LUXURIOUS RENTAL PROPERTIES
If you’re looking for the lap of luxury in your apartment rental in the City by the Bay, look now further. A website called the Luxe List (www.luxelisthome.com) showcases the Top 10 percent of San Francisco’s luxury rental properties based on richness of amenities, location and everything that will please the most discriminating urban dweller. From Union Square to the Mission District to the Waterfront, Luxe List offers the following as the Top 5 Most Luxurious Rental Properties in the Bay Area.
— Millennium Tower
Scoring 100 out of 100, Millennium Tower comprises a 60-story, ultra-luxury residential tower and adjacent 11-story, mid-rise building located in the city’s exciting South of Market (SoMa) neighborhood. Developed by Millennium Partners, Millennium Tower combines inspired architecture, gracefully elegant contemporary design and world-class features, finishes, services and amenities to completely redefine the modern urban luxury lifestyle. Its one-, two- and three-bedroom luxury apartments and penthouse residences range from approximately 750 to 6,000 square feet and offer state-of-the art residential design with extraordinary finishes and components. An architectural landmark, the two gleaming towers also offer world-class ultra-private club caliber amenities and services on site that include professional concierges and exclusive access to the 20,000-square-foot Club Level with an owners lounge, tasting room and cellar, private dining room (serviced by Chef Michael Mina’s RN74 restaurant on the ground floor), screening room, children’s playroom and an outdoor terrace. Don’t forget the 5,500-square-foot fitness center operated by Sports Club-LA, complete with Pilates and yoga studios, massage therapy, locker rooms, Jacuzzi and steam rooms and a dramatic 75-foot indoor saltwater lap pool beneath a soaring skylight. For more information, call (415) 955-7968 or visit www.millenniumpenthousesf.com.
— Via
Opened in late spring 2012, the much anticipated ultra-luxury community Via scored 98 out of 100 in luxury. This brand-new community provides a new standard of luxury living by combining stylish and spacious luxury living with terrific amenities, on-site retail opportunities and convenient access to the entire San Francisco Bay Area. The community features the most sought-after amenities that are sure to please the most discriminating modern urban dweller, including a stunning pool and spa with sundeck, a cyber café, a resident club room with billiards, a state-of-the-art health and fitness center with professional aerobic and weight-training equipment and an outdoor fire pit and grilling stations. The Zen-inspired courtyards and all common areas feature free Wi-Fi throughout for residents while the spacious apartments feature nine-foot ceilings, gourmet kitchens with energy-efficient stainless-steel appliances, custom maple cabinetry and CeasarStone countertops. Apartments also have a private patio or balcony and unique flex rooms perfect for an additional bedroom or home office. The on-site stores feature, among others, a Fresh & Easy market for easy grocery shopping. For more information, call (866) 958-2962 or visit www.liveatvia.com.
As a newcomer to the Bay Area, you may want to familiarize yourself with different neighborhoods and regions before determining where to buy. While some people strive to obtain homeownership, others realize that renting or leasing is a much more suitable decision for the short or long term. After all, you have only just arrived in your new city. With so many things to be done, making a large investment may be handled best after getting yourself acclimated to the area. If you have been relocated by your employer, the chance of another relocation may be in your future, in which case purchasing a house might not guarantee a return on your investment. If you moved from a rental, you may not be ready to take the plunge into owning your first piece of property. Allowing yourself time to settle into your new environment before committing to homeownership will give you time to get a feel for the various communities that make the Bay Area such a diverse place to live and decide which type of home is best for you.
While the Bay Area is certainly a great place to buy a home, it is also a great place to satisfy all renting appetites. With various units found throughout the city and loft construction on the rise since the turn of the millennium, finding a place to rent or lease in the San Francisco is not difficult. Finding the right place that meets your needs and suits your lifestyle is the key to finding a place you can call home. As other metropolitan cities have experienced slowing construction because of market volatility, San Francisco continues to add to its supply of renting and leasing inventory.
SNAPSHOT
In San Francisco, 43.3 percent of the city’s residents are renters, and you’ll find the city is a landlord’s market with occupancy at approximately 91.2 percent. According to Rental Guide magazine and its website www.rentalguide.com, mid- to high-end condominium units, rather than apartments, dominate properties currently under construction in the Bay Area, and the inventory of apartments continues to be reduced by condominium conversions. These factors combined with a healthy job market and the high quality of Bay Area life, keep the demand for rentals high.
As of February 2013, apartment in San Francisco rentals range from an average of $1,845 for a one bedroom to upwards of $2,364 for select three bedrooms depending on the area.
MOST LUXURIOUS RENTAL PROPERTIES
If you’re looking for the lap of luxury in your apartment rental in the City by the Bay, look now further. A website called the Luxe List (www.luxelisthome.com) showcases the Top 10 percent of San Francisco’s luxury rental properties based on richness of amenities, location and everything that will please the most discriminating urban dweller. From Union Square to the Mission District to the Waterfront, Luxe List offers the following as the Top 5 Most Luxurious Rental Properties in the Bay Area.
— Millennium Tower
Scoring 100 out of 100, Millennium Tower comprises a 60-story, ultra-luxury residential tower and adjacent 11-story, mid-rise building located in the city’s exciting South of Market (SoMa) neighborhood. Developed by Millennium Partners, Millennium Tower combines inspired architecture, gracefully elegant contemporary design and world-class features, finishes, services and amenities to completely redefine the modern urban luxury lifestyle. Its one-, two- and three-bedroom luxury apartments and penthouse residences range from approximately 750 to 6,000 square feet and offer state-of-the art residential design with extraordinary finishes and components. An architectural landmark, the two gleaming towers also offer world-class ultra-private club caliber amenities and services on site that include professional concierges and exclusive access to the 20,000-square-foot Club Level with an owners lounge, tasting room and cellar, private dining room (serviced by Chef Michael Mina’s RN74 restaurant on the ground floor), screening room, children’s playroom and an outdoor terrace. Don’t forget the 5,500-square-foot fitness center operated by Sports Club-LA, complete with Pilates and yoga studios, massage therapy, locker rooms, Jacuzzi and steam rooms and a dramatic 75-foot indoor saltwater lap pool beneath a soaring skylight. For more information, call (415) 955-7968 or visit www.millenniumpenthousesf.com.
— Via
Opened in late spring 2012, the much anticipated ultra-luxury community Via scored 98 out of 100 in luxury. This brand-new community provides a new standard of luxury living by combining stylish and spacious luxury living with terrific amenities, on-site retail opportunities and convenient access to the entire San Francisco Bay Area. The community features the most sought-after amenities that are sure to please the most discriminating modern urban dweller, including a stunning pool and spa with sundeck, a cyber café, a resident club room with billiards, a state-of-the-art health and fitness center with professional aerobic and weight-training equipment and an outdoor fire pit and grilling stations. The Zen-inspired courtyards and all common areas feature free Wi-Fi throughout for residents while the spacious apartments feature nine-foot ceilings, gourmet kitchens with energy-efficient stainless-steel appliances, custom maple cabinetry and CeasarStone countertops. Apartments also have a private patio or balcony and unique flex rooms perfect for an additional bedroom or home office. The on-site stores feature, among others, a Fresh & Easy market for easy grocery shopping. For more information, call (866) 958-2962 or visit www.liveatvia.com.
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