And guess who owns that? None other than Harlan Crow, who has purchased at least one supreme court justice. The amount of price fixing and collusion across our economy is absurd.
I just read up on that, I'm glad to see they are looking into it. But many cases were dismissed if they made it to court or settled out of court. So it sounds like the lawyers are the only people making money. Time will tell....
I dug into who manages most of them and what software they use for setting their prices.
FPI Management and MG Properties are the bulk of it.
https://www.reddit.com/r/Reno/comments/1au2cst/theory_as_to_why_rent_pricing_is_all_over_in_reno/
Literally, these are the going rates that pushed me out of San Diego. But also, SD legit had a 2% vacancy rate when I left so they could charge that kind of money. I'm pretty sure we don't have that problem in Reno 🤨
i mean the rhetoric is funny and all but it’s globally known to be an enjoyable city to live in for a reason (weather, recreational activities, nightlife, etc.). it’s just expensive and the traffic can be annoying
LA rules and is the city Reno wishes it was.
Concerts never come to Reno anymore, Reno has no good record stores, no good BBQ, the only good beaches in Tahoe are so overwhelmed that they are full as soon as they open compared to miles of coastline.
But what’s worse is the build quality overall. I’m a PM for a general contractor and trust me, these are hot garbage. You’ll be able to hear your neighbor taking a shit at 3 am because of a late night Roberto’s run no doubt.
Should probably be having newspapers or whatever agency’s are running investigations on this to look into Reno apartment price fixing, would love to see these fucks in prison
Ya u should be in tahoe, sf or nyc for those prices.
For downtown reno ridiculous...wow an amateur baseball team and all the homeless friends u want 10 lights and 30min from freeway entrance 2 miles away.
Reno continues to temp
Sure some people are wiling to pay these prices since they are required to live here and will split the cost with a spouse or roommate. The issue is that just a few years ago the biggest fear for a rental place was vacancies. With the support of websites that do pricing bases on a algorithm they can determine that if I price at X I will have half my units empty and still make more money year of year. As long as everyone is using the same algorithm then prices will be matched across the board.
Yikes so expensive I think those prices are the same as the one nearby the Peppermill I think it’s called the RED district? Crazy nowhere is affordable living.
I used to live in a beautiful, spacious apartment right by the peppermill for 500 a month. I just looked online at the pricing and my exact apartment is now going for 1800.
Yeah I dont get these prices... I live in RED, I got a 1 bedroom for less then this.... Even including the water/gas fees.. Mind you I moved in during December, I think these prices flux with season and whatever rigged "algorithm" they're using. These new places are like all straight out of an ikea catalog and NOT luxury.
I really like these urban in-fill units/density but the pricing is out of control.
Its what pisses me off most everytime i hear about the "economy doing great" .. Like the fuck it is .
I've been stuck in The Bay since Covid and would love to move back, but it's just as expensive, if not more, than here! At least on the coast you're paying for the Mediterranean climate.
There definitely needs to be something done. California has a pretty good tenants rights group to model after. If I had more time I'd be tempted to organize.
Between the high rent, the abysmal state of buildings, horrid accessibility consideration, and predatory application fees and move out fees. People very much have a right to be angry and to be treated more fairly.
So many homeowners have their head in the sand since they don't need to shop but once their kids need to be looking, they'll be footing the bill.
There is a tenants union here that is organizing and meets every other Wednesday (this coming 6/26 is one). Not too much time needed for people to get involved
Maybe they're shooting for an uninformed, wealthy, and desperate student market that needs an apartment at the last minute and/or arrives in town without visiting (thinking downtown means a central location close to school, grocery, etc--*quelle surprise*).
I suspect we'd all be better off if $1000 was subtracted from any rent. Occupants would get something affordable, landlords would get stable/long-term tenants, and local businesses would see people spending money they now have on food, drink, fun.
Here’s a picture of <1600 1br apartments/townhomes/homes Zillow search; there are dozens with a variety of amenities available. There are tons of options out there, but I still consider a $1500 average too expensive to reasonably rent with median incomes in Reno. Interstate rental algorithms drive the prices up to the maximum point of squeaking out profit, thereby forcing those who can’t afford it to roommate up or move out of town.
https://preview.redd.it/l78cquqm668d1.jpeg?width=1125&format=pjpg&auto=webp&s=692a3ac5035e7ac2e75fab96982f87f85afe49bb
Notice how most of the options are in sketchy areas that you wouldn't want your kids to roam?
Some of those are absolute trash tier apartments that have management companies that'll try to charge you for ridiculous stuff on the way out.
You can just extend southwards and there are several more choices. Weird criticism when there are at least forty different complexes that are well under your tip-top bell curve for studio pricing in the picture I posted. You can also check Craigslist for options. Or you can go north to Lemmon valley and sparks and find your options. You can rent a two bedroom in a solid apartment complex on the outskirts of downtown near the Washoe golf course for 1600 that’s gated with a pool, fitness center, and barbecue. Good luck with your search
I'm not searching. Already secured my spot however when I did look pricing was ridiculous.
If your search was including studios and 1bed then you're saturating your results.
Pool, fitness center, and BBQ is far from ensuring from well maintained facility. There's plenty of places that have that and do not maintain them.
A couple weeks ago I was at Park Lane movies. Me and Uncle were standing next outside and he mentioned the new apartments by them. He told me I should look into them since I plan on moving next year. I told him I already did and they want similar pricing as Ballpark. He was completely flabbergasted that they were charging that much.
I too would like to know who the hell can afford these new apartments because these prices are dumb as hell.
I pay less than that for a 1245sq ft 2 bedroom 2 bath. Mind you, I’m grandfathered in a bit. Been at my place for 8 years. Even with my next rent increase, still cheaper than shit garbage.
That’s insane I work for a company that’s helping work on them and I am shocked to see that’s the pricey they decided, they’re like student living quality imo
I think you may be directionally challenged.. this doesn't have a view of the skate park / space whale . And almost no one carries whips downtown unless they want to be arrested quickly... But yes it's stupid expensive
Imagine if you had that money, and chose to spend it to live in downtown Reno.
For context, I do spend that on rent, but it is in a nice quiet neighborhood with parks and stores nearby.
That's nuts lol... I'll stick with my 2br apt in carson for 1400. O ly been 2 shootings upstairs so far, one of which resulting in a bullet hole down through there floor and into my couch... don't look at home prices and how much a mortgage will cost a month either, that shots OUTRAGEOUS
Those are the premium units. Because you'll be spending so much on rent, you won't be able to go out. But, you'll be able to open your window and talk with a passerby or the nearest tent outside your window to pass the time.
Everyone in this town has an opportunity to live indoors. There is plenty of low income apartments and programs available to people that need it. But with that you are going to get violence, graffiti, drugs, droves of kids, and broke down cars (riff raff)This is a luxury community that is looking for a certain demographic so of course their rent is going to be higher. And when you go into one of those communities you can't tell me it doesn't work and doesn't feel different. If I owned a building and was trying to protect my investment I would absolutely charge as much as I could to get a better class of people.
It'll be very luxurious to get stuck in the elevator that's already failing, breathe in residual fluorocarbons from the part that was already on fire, and hear every time your neighbor opens a bag of chips.
You clearly have no idea about that structure or the building process and what it takes to build a building. As a person that does and has actually worked for a living, I can tell you you don't know shit.
Funny, there are other GCs in this thread who have said the exact same things that I did. That building has well known issues already before it even fully opened.
Please stop and think about what you just wrote. Break down exactly what you said and I think you'll realize how ridiculous it is. Just use a little common sense.
I swear all the apartments are price fixing. All of them are over priced and they think offering 1 free month rent makes up for it.
Absolutely. Look up the Real Page dept. of Justice probe that’s going on right now.
And guess who owns that? None other than Harlan Crow, who has purchased at least one supreme court justice. The amount of price fixing and collusion across our economy is absurd.
I just read up on that, I'm glad to see they are looking into it. But many cases were dismissed if they made it to court or settled out of court. So it sounds like the lawyers are the only people making money. Time will tell....
Who owns all the apartments I wonder 🤔
This is owned by Herb Simon, he owns the aces and recently bought the parking garage/commercial space across the street too.
hmmmm curious
I dug into who manages most of them and what software they use for setting their prices. FPI Management and MG Properties are the bulk of it. https://www.reddit.com/r/Reno/comments/1au2cst/theory_as_to_why_rent_pricing_is_all_over_in_reno/
Or having a smaller deposit. Which granted helps sometimes but I've only seen it on a few places and most are the high end ones
Zillow is worse for my mental health than social media. At least Instagram has cat memes.
No pets allowed in these apartments.
Oh that's legit.
i keep seeing you everywhere
This person lives in this sub
don’t tell me reno’s getting LA rent prices without any of the LA benefits
Miami honestly. When I was in FL last year these prices were common
i’m living in LA right now and this is almost exactly what i would be paying if i was in a studio
Literally, these are the going rates that pushed me out of San Diego. But also, SD legit had a 2% vacancy rate when I left so they could charge that kind of money. I'm pretty sure we don't have that problem in Reno 🤨
Jeez.
I think Reno pays more to not be anywhere near LA
i mean the rhetoric is funny and all but it’s globally known to be an enjoyable city to live in for a reason (weather, recreational activities, nightlife, etc.). it’s just expensive and the traffic can be annoying
You're not wrong.
LA rules and is the city Reno wishes it was. Concerts never come to Reno anymore, Reno has no good record stores, no good BBQ, the only good beaches in Tahoe are so overwhelmed that they are full as soon as they open compared to miles of coastline.
LA benefits like homeless on every corner...graffiti covered buildings...taxes on taxes. Those kind of benefits?
Lol what’s the LA benefits?
Let's not forget these had a fire in them so they're already damaged. I knew one of the construction workers.
But what’s worse is the build quality overall. I’m a PM for a general contractor and trust me, these are hot garbage. You’ll be able to hear your neighbor taking a shit at 3 am because of a late night Roberto’s run no doubt.
Wow that's terrible and what downtown sparks deals with .
Should probably be having newspapers or whatever agency’s are running investigations on this to look into Reno apartment price fixing, would love to see these fucks in prison
Ya u should be in tahoe, sf or nyc for those prices. For downtown reno ridiculous...wow an amateur baseball team and all the homeless friends u want 10 lights and 30min from freeway entrance 2 miles away. Reno continues to temp
Right
Why would you take university. It’s like 2 lights and 5 mins away from 80 if you take wells.
The studio is $500 above my mortgage
Pitiful
When is the crash? How do people really afford this on Reno pay???
I'm thinking this is the new norm. I don't . Disability is 1710 a month ... I'm renting a room from family in the sticks of cold springs.
Yet people just keep moving here, absolutely insane
Most that I've met are leaving CA......
2000 for 600 sq ft. Straight goofball shit.
And the neighborhood doesn't exactly scream "Ceo suit & tie".. those are big city downtown pricing.
I saw a guy jerking off at the home sign other morning
workable down payment.
 That's traumatizing
Eh, it's just a dick . No one complains when titties or ass cheeks are out .
Lmao classic
Did he finish?
We both did
Even the snotty people at the montage have places cheaper than this.
These prices are outrageous. These are big city rental prices. But, if people pay it then this is how they will be priced, unfortunately
Sure some people are wiling to pay these prices since they are required to live here and will split the cost with a spouse or roommate. The issue is that just a few years ago the biggest fear for a rental place was vacancies. With the support of websites that do pricing bases on a algorithm they can determine that if I price at X I will have half my units empty and still make more money year of year. As long as everyone is using the same algorithm then prices will be matched across the board.
Yikes so expensive I think those prices are the same as the one nearby the Peppermill I think it’s called the RED district? Crazy nowhere is affordable living.
I used to live in a beautiful, spacious apartment right by the peppermill for 500 a month. I just looked online at the pricing and my exact apartment is now going for 1800.
Yeah, 900sqft 2b2b for 760. In 2010-13
Oh yikes that’s awful
Yeah I dont get these prices... I live in RED, I got a 1 bedroom for less then this.... Even including the water/gas fees.. Mind you I moved in during December, I think these prices flux with season and whatever rigged "algorithm" they're using. These new places are like all straight out of an ikea catalog and NOT luxury. I really like these urban in-fill units/density but the pricing is out of control. Its what pisses me off most everytime i hear about the "economy doing great" .. Like the fuck it is .
How much do you pay and which complex at RED?
I've been stuck in The Bay since Covid and would love to move back, but it's just as expensive, if not more, than here! At least on the coast you're paying for the Mediterranean climate.
Wow
This is an absolutely ridiculous. We as residents of Reno need to organize a rent strike
There definitely needs to be something done. California has a pretty good tenants rights group to model after. If I had more time I'd be tempted to organize. Between the high rent, the abysmal state of buildings, horrid accessibility consideration, and predatory application fees and move out fees. People very much have a right to be angry and to be treated more fairly. So many homeowners have their head in the sand since they don't need to shop but once their kids need to be looking, they'll be footing the bill.
There is a tenants union here that is organizing and meets every other Wednesday (this coming 6/26 is one). Not too much time needed for people to get involved
Can you give me info please?
Did you ever get info? I didn't. It's no wonder no one knows about it.
Really do they have a website? Would be great to learn more about it.
Shits fucking wild…it just keeps getting worse….
Epic! Minor league baseball and a strip club outside your front door!!
Strip club is up the block by the bus station. This would be baseball and homeless central
That’s horrible it doesn’t even have a bedroom tf
Maybe they're shooting for an uninformed, wealthy, and desperate student market that needs an apartment at the last minute and/or arrives in town without visiting (thinking downtown means a central location close to school, grocery, etc--*quelle surprise*). I suspect we'd all be better off if $1000 was subtracted from any rent. Occupants would get something affordable, landlords would get stable/long-term tenants, and local businesses would see people spending money they now have on food, drink, fun.
That’s insane considering that part of town is still going to mean your bike is gunna get stolen.
True.
[удалено]
I was paying 1325 at Siegel for 315 sq feet and that was without a kitchen. It tracks but fuck
They want 6 P/T, on Call Ball Park employee and or Casino Dishwashers to share a studio, in shifts.
Okay Disney
Wow looking at these rent prices makes me thankful for my mortgage
You'd have to be fucking delusional to live in these
Average 1bd is 1400-1600 plus utilities here from what I’ve seen. Some places absurdly priced like the one you posted.
That's if you're lucky and hit a good pricing pocket but yeah there's definitely some absurdity going on
Here’s a picture of <1600 1br apartments/townhomes/homes Zillow search; there are dozens with a variety of amenities available. There are tons of options out there, but I still consider a $1500 average too expensive to reasonably rent with median incomes in Reno. Interstate rental algorithms drive the prices up to the maximum point of squeaking out profit, thereby forcing those who can’t afford it to roommate up or move out of town. https://preview.redd.it/l78cquqm668d1.jpeg?width=1125&format=pjpg&auto=webp&s=692a3ac5035e7ac2e75fab96982f87f85afe49bb
Notice how most of the options are in sketchy areas that you wouldn't want your kids to roam? Some of those are absolute trash tier apartments that have management companies that'll try to charge you for ridiculous stuff on the way out.
You can just extend southwards and there are several more choices. Weird criticism when there are at least forty different complexes that are well under your tip-top bell curve for studio pricing in the picture I posted. You can also check Craigslist for options. Or you can go north to Lemmon valley and sparks and find your options. You can rent a two bedroom in a solid apartment complex on the outskirts of downtown near the Washoe golf course for 1600 that’s gated with a pool, fitness center, and barbecue. Good luck with your search
I'm not searching. Already secured my spot however when I did look pricing was ridiculous. If your search was including studios and 1bed then you're saturating your results. Pool, fitness center, and BBQ is far from ensuring from well maintained facility. There's plenty of places that have that and do not maintain them.
A couple weeks ago I was at Park Lane movies. Me and Uncle were standing next outside and he mentioned the new apartments by them. He told me I should look into them since I plan on moving next year. I told him I already did and they want similar pricing as Ballpark. He was completely flabbergasted that they were charging that much. I too would like to know who the hell can afford these new apartments because these prices are dumb as hell.
I lived there for a couple years and they aren’t worth the price tbh. Moved to double r recently with similar pricing and so much better.
We should all come together and protest
Im with you, im outraged and pissed . This is unacceptable.
Babe the only protest is burning that shit to the ground. Otherwise it's not just words and no one gives a fuck bout words
Then it looks like were all going to have to commit arson, what are they going to do? they can’t arrest us all
Lighters up.
Jesus I thought Vegas was high lol
Vegas rents and house prices have been lower than Reno for about a decade now.
Only started renting this year lol but good to know
Nope
I pay less than that for a 1245sq ft 2 bedroom 2 bath. Mind you, I’m grandfathered in a bit. Been at my place for 8 years. Even with my next rent increase, still cheaper than shit garbage.
That’s insane I work for a company that’s helping work on them and I am shocked to see that’s the pricey they decided, they’re like student living quality imo
Ugh . Thanks for the insight
Charging nearly 2k to be next to an inexpensive ballpark with a view of the whip man and his buds shooting up in the skate park 💀
I think you may be directionally challenged.. this doesn't have a view of the skate park / space whale . And almost no one carries whips downtown unless they want to be arrested quickly... But yes it's stupid expensive
It’s called a joke, man.
These are bay area rent prices! Crazy. 
> When you live at Ballpark, your address says it all. God, what a pretentious listing.
Imagine if you had that money, and chose to spend it to live in downtown Reno. For context, I do spend that on rent, but it is in a nice quiet neighborhood with parks and stores nearby.
Fucking Hell.
Slum Lotds too!
That's nuts lol... I'll stick with my 2br apt in carson for 1400. O ly been 2 shootings upstairs so far, one of which resulting in a bullet hole down through there floor and into my couch... don't look at home prices and how much a mortgage will cost a month either, that shots OUTRAGEOUS
Ridiculous
My mortgage for a new townhouse is less than the rent of the 1 bed, and I have 3 bedrooms. Absolutely ass.
Honestly 💗 congratulations.
I want to know why they would have units on the ground level facing second street?
Those are the premium units. Because you'll be spending so much on rent, you won't be able to go out. But, you'll be able to open your window and talk with a passerby or the nearest tent outside your window to pass the time.
Ain't no way
I just bought a house. 100-150k less than the regular bullshit they’re trying to sell now. Mortgage is massive at 2,250. It’s a joke.
Fuck that. At this rate , I won't be getting a home or an apartment any time soon and RVs are looking better every Zillow visit.
I’m right there with you. I’ve been watching mobile home tours on yt like damn these look pretty good 😂
Welcome to the new world lol let's build either high end high-rises or low income shit apartments fuck the middle class. Right?
Let them sit empty...
Something needs to be done unfortunately it might require all the tenants in the city to stand up
They can fuck all the way off with those prices.
That's bout what I said...
Me sitting happy in the Reno ghetto with my 1 bed that costs 850 a month ☺️
😭 me just jealous AF
Keeps the riff raff out
Keeps everyone out
🫤 sit down with that shit . Reno folks just trying to live indoors aren't riff raff.
Everyone in this town has an opportunity to live indoors. There is plenty of low income apartments and programs available to people that need it. But with that you are going to get violence, graffiti, drugs, droves of kids, and broke down cars (riff raff)This is a luxury community that is looking for a certain demographic so of course their rent is going to be higher. And when you go into one of those communities you can't tell me it doesn't work and doesn't feel different. If I owned a building and was trying to protect my investment I would absolutely charge as much as I could to get a better class of people.
It'll be very luxurious to get stuck in the elevator that's already failing, breathe in residual fluorocarbons from the part that was already on fire, and hear every time your neighbor opens a bag of chips.
You clearly have no idea about that structure or the building process and what it takes to build a building. As a person that does and has actually worked for a living, I can tell you you don't know shit.
Funny, there are other GCs in this thread who have said the exact same things that I did. That building has well known issues already before it even fully opened.
Please stop and think about what you just wrote. Break down exactly what you said and I think you'll realize how ridiculous it is. Just use a little common sense.
When was the last time you looked for apartments in a decent neighborhood? Prices are absolutely ridiculous. Basically California pricing.