Five things to know about renting in San Francisco right now

Hello, renters. Well, we are heading into the holiday season, so the hope is that there might be an easing up of availability, at least, if not pricing, in our skyrocketing San Francisco apartment rental market.

It’s possible that heading into the next six weeks you might be able to get a jump on renting a new apartment in the city, if you are able to find a place that works for you. With open-market apartment rents now up an average of 14 percent over a year ago, expect your new place to come at a pretty penny.

Here are a few other realities to consider as you house hunt:

1. Ready a stack of cash so you are ready to pay up not just first and last month’s rent, but a hefty deposit for any unit that is actually available and move-in ready. Landlords looking for tenants over the holiday season are anxious to expedite the process as much as possible, and being prepared to write a check as soon as you decide you like the unit can help move your lease processing along quicker that you can say “home for the holidays.”
2. Don’t expect to save a bunch of money if you try to go across the Bay. Rents are on the rise  in Oakland and San Jose, too, as those areas realize they have become a last resort for displaced San Francisco tenants.
3. Rental horror stories are still a hot commodity. How do you know when the market is at its worst in SF? When radio stations and news reporters are seeking out renters to bemoan how hard it is to find an apartment, of course. And that’s happening right now, yet another sign that we aren’t out of the woods just yet. Should you share your story? If you want to, we urge you to do so right here on RentCafe. (Just add a comment telling us about your housing search! We may contact you to learn more details of your story.)
4. Keep your eyes on the prize. From a national perspective, the chances that rent increases are going to slow down as we head into 2013 is almost inevitable, industry insiders agree. Will we see that same change here, given the demand for places to live? Perhaps on a scaled back basis. New units will be coming online in San Francisco in 2013, which could have  slight impact on the supply/demand/price balance.
5. The potential of tiny apartment development is still an option. This doesn’t necessarily change much in the rental market, but it’s a relevant point as we look toward the future of apartment renting in San Francisco.  The decision on whether or not to allow micro units as small as 220 square feet has become a political hot potato, but we’re betting it will ultimately result in an affirmative nod for the teeny tiny apartments. All the supervisors have to do is realize how hard it is to find a place to live .. and that lots of people are already living in closets all over town.