As UCLA students sift through Westwood apartments this spring,
they may find that an oversupply of North Village apartments is
making the experience a little less painful.
The upsurge in vacant Westwood apartments, which some attribute
to a suffering economy, will make it easier for students to find an
available apartment at a lower rate.
“I’m noticing for the first time there have been a
lot of vacancies throughout the year,” said Shelley Taylor,
president of the North Village Improvement Committee, who owns a
small complex on Kelton Avenue.
Jane Ortenberg, who manages the Le Conte Westwood Village
Apartments, has also noticed an increase in vacancies in the area.
She said this is having a negative effect on previously increasing
rental rates.
“For some reason, prices have gone down, and our company
doesn’t want to acknowledge it,” Ortenberg said.
While explanations among apartment managers and landlords vary,
Frank Montana, manager for UCLA Community Housing Office,
attributes decreasing rental rates and increasing vacancies to the
demographics of Westwood.
“Westwood and West Los Angeles house a lot of
professionals. These rates are usually reflective of how the
economy is doing,” Montana said.
He added, ” Based on what I see in the trends over the
last six months, it appears the apartments’ (rates) have
leveled off.”
Montana said for several years rent has been steadily
increasing, but the UCLA Community Housing Office rental rate
survey displays a new trend.
The survey, which takes an average of apartments and houses, and
categorizes them by community and number of bedrooms, displays
slightly decreasing costs in the Westwood/Bel Air area.
On average, a two-bedroom apartment cost $1,979 between July
2001 and June 2002. Between July 2002 and December 2002, a
two-bedroom apartment was being rented for an average of only
$1,907.
The difference is small, but for college students it is
significant.
Aaron Goodenough, a fourth-year economics student, said he feels
the burden of high Westwood rental rates.
“I pay my own bills and some months I come up short. It
causes me a lot of stress, always worrying about whether or not I
can afford next month’s rent,” Goodenough said.
“Any decrease in my rent would alleviate some of that
stress,” Goodenough added.
Christie Tedmon, a second-year psychology student, also said
high rental rates in Westwood have an impact on her life.
“I have to be very conscientious with how I spend my
money, especially if I am trying to save for the future,”
Tedmon said.
The mental and financial costs of Westwood apartments have
driven many students to live in cheaper surrounding communities and
commute to school.
James Schirmer, a fifth-year psychology student, decided to live
west of the 405 freeway to avoid dealing with apartments in
Westwood.
“I tried looking in Westwood. It was too expensive and
frustrating being on a waiting list,” Schirmer said.
Schirmer’s thinking was if he got an apartment outside
Westwood he could save money and ride the bus to campus.
“I could get more for my money,” he said.
But if rental rates continue to decrease, students who decide to
live in Westwood apartments may get more for their money as
well.