Terra Mar Apartments Raising Rents

Discussion in 'Rentals - Long Term' started by The Window Guy, Jul 31, 2014.

  1. The Window Guy

    The Window Guy Beach Fanatic

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    To whom it may concern,

    Be advised that Terra Mar is raising their prices approximately $200.00 per month per
    unit for anyone that wants to renew their lease.:cuss:
    They told my daughter that if she did not give renewal notice (60) days before the contract is over, they will raise her rent $300.00 to $400.00 per month instead! This just happened this morning!
    Nowhere in her current contract is that spelled out, but the agent said too bad that's the way the new owner is changing it.
    They obviously do not care about anything but money! She will be leaving at the end of her current contract because of the way they are treating her. Anyone signing a new contract needs to read it carefully because it seems that they do not honor any contract they write!
    Demand for your product does cause greed and cockiness. This happened to Centex Home builders years ago and now they are gone.

    Just a word of caution to anyone who is looking to rent or renew! GOOD LUCK:bang:
     
  2. jodiFL

    jodiFL Beach Fanatic

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    Doesnt surprise me. Didnt they try to market them as "affordable" housing during the planning stages to get approval?
     
  3. The Window Guy

    The Window Guy Beach Fanatic

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    Yes!
    Right now a one bedroom costs $1,000.00, then your renewal contract goes to $1,200.00 per month!
    Such is life:cool:
     
  4. Matt J

    Matt J SWGB

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    Affordable housing at indentured pricing.
     
  5. John G

    John G Beach Fanatic

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    Although ugly, its not illegal. Common tactic in residential rentals. Not surprised a bit by this. Supply & Demand at work.

    Who controls the complex? Is it managed by a company or still the developer?

    Read your lease. Try to get a multi year one, and lock in a rate.

    Problem probably comes from some less than desirable tenants having slipped through the cracks, just like the less than desirable crop of tourists we have attracted this year due to the heavy marketing and deep discounts rental companies are giving... I don't recall 30a being the destination of choice for beer in a brown paper bag, blunt cigar, tattoo on face sort of crowd.

    But it seems to be going that way.

    Long term rentals are tough. Based on the rental pricing you could buy a house. I'd stay away from DR Horton if you do...
     
  6. m1a1mg

    m1a1mg Beach Fanatic

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    TerraMar has already changed hands. It sold to a new investor in May/June time frame.

    It really isn't what they claim it to be. They talk about elegant living on 30A, but it isn't elegant or on 30A.

    However, demand is high and the market sets the price.
     
  7. Matt J

    Matt J SWGB

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    Does the $1,200 for a one bedroom also include fire insurance?
     
  8. SkinShark

    SkinShark Beach Lover

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    If the rent is rising that is good news for me! Maybe the housing prices will go up just as equally. Supply and demand folks. I hope to make money off my house in the future!!
     
  9. John G

    John G Beach Fanatic

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    OK, two different ideas here. Time for the Edit... (kurt)

    I believe the "quality of visitor" warrants its own post.

    Anyone been to the Inlet Beach Gas Station??? Only place in SoWal you can buy Porno Mags... Take a minute to look at the "paraphnalia" while you're at it. Para is all over the 393 / 98 gas station that I never stop at. Been there at 0600 hours... ???
     
  10. m1a1mg

    m1a1mg Beach Fanatic

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    I see that TerrorMar is up to $1600 for a 3 bedroom. Crazy. I can get a free standing house for less than that.
     
  11. Solar Steve

    Solar Steve Beach Comber

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    Yes! And they are getting it along with a waiting list.....Huh????
     
  12. patterneddress

    patterneddress Beach Comber

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    I live there and spoke with one of the girls that works in the front. She is leaving by the way. If they are telling you there's a waiting list, that's bull. She said they only had one new rental in September. They are getting more desperate because the word is getting out about how badly it's managed and how the had affordable rent to get people in and signed, with every intention on raising if you want to stay. Every time I look out my windown someone's moving out. I love my apartment but I just don't think I want to stay with the way they've handled things. Not to mention they don't feel any obligation to reveal the cause of the fire. That makes me feel really safe! Not.
     
  13. debndestin

    debndestin Beach Comber

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    TerraMar is still better than any other apartments in the area.

    Call it supply and demand or new management, a rate increase its going to happen. I bet many who are renting privately or through another management company had an increase in their rent too. Not as much I'm sure but I would take new (TerraMar) over old and out dated (Point of View) anytime.


     
  14. Matt J

    Matt J SWGB

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    Call the State Fire Marshall and ask for a copy of his report.
     
  15. sunspotbaby

    sunspotbaby SoWal Insider

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    As I recall it, they couldn't determine the cause of the fire. I think they ruled out lightning and electrical (ground). The property was turned over to the construction co. and the owner. And that was fairly quickly after the fire. I'm just going on memory but I believe that's what I read in the days right after. As far as management, when it was all still under construction, my husband applied for the maintenance position directly with the owners (from Atlanta?). He got a call from the home office and they wanted to talk to him within a couple of weeks when they got down here. He went up there 3 or 4 times thinking he had an interview. In the meantime, They hired a manager and that manager never called him to come in to interview. He is very well qualified and we live very close, but feel like she (I'm fairly certain it was a woman) never interviewed anyone and gave the job to a friend or relative. After reading all this, I'm glad he didn't get the call. It would have been nice for him to be within a mile of home, but poor management is a huge downfall for any business and trickles down to every last employee.
     
  16. sunspotbaby

    sunspotbaby SoWal Insider

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    I just drove through Terra Mar and the grounds are awful. The other place...Assisted living facility's landscaping is awful too. I predicted the front would be a pond after a little rain and it is. So then it can't be mowed because of the standing water. Yet, they water it. You'd think it would be better maintained. I also saw a public notice in the front of TM on 98 I believe is a request for signage alteration. This is a fairly new development and it already looks bad. And I get it...I don't want to mow my yard in this heat either, but I'm not seeking long term renters to pay me money to stay on my property either.
     
  17. Teresa

    Teresa SoWal Guide Staff Member

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    Is it supposed to be a retention pond? Still, it should be maintained and kept up. We have such few rentals with so many people seeking long term rentals, perhaps they think they are in such high demand and need not bother. I hope not.
     
  18. Solar Steve

    Solar Steve Beach Comber

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    My Daughter is leaving this month for the same reason!
    Greed always causes implosion!!!
    Nice place, terrible pricing and not worth it. Want to rent at paradise, you got to pay the price!
    NOT US: GOOD BY TERRA MAR!
    CANNOT RECOMMEND THIS PLACE TO ANYONE...
     
  19. Jackalope

    Jackalope Beach Lover

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    Long term rentals are in high demand and short supply. I've been passively looking. Good luck finding 3 bedrooms under $1600/ mo.
     
  20. sunspotbaby

    sunspotbaby SoWal Insider

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    My husband and I are going to ride through the complex today. Maybe we'll stop in the office and ask them why the hell it looks so bad. Maybe I can shame them into some upkeep and call them on their bull****. :nono1::D
     

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