Rental Squeeze

Vacancy rate in Oakland hovers just below 1 percent
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By Laura Counts, Staff Writer (Excerpt)

Now, with a vacancy rate hovering somewhere below 1 percent in Oakland -- according to several research reports -- the escape valve that Oakland once provided from out-of-control prices in San Francisco and Silicon Valley is closing.

"It's great for me, because I can be very selective," said William Gardner, who owns the Rose Garden apartments and about 80 other Oakland units.

Last year, rents in Berkeley shot up 20 percent as landlords rushed to take advantage of the end of rent control for vacant units, said Dana Goodell, president of the Berkeley based Homefinder's bulletin. Now however, things seem to have smoothed out some in Berkeley, and Oakland rates are rising much faster.

All the new construction could help reduce some of the pressure for rental housing, especially at the mid to upper ends of the market.

But it won't really help people like James Driskill, who was given a 30-day eviction notice on his below-market rental in early August.

Driskill's studio apartment in a building on Mckinley Avenue, off park Boulevard, is smallish and darkish, consisting of just one square room with a kitchen off to the side, but he has paid only $473 per month for the past five years.

With the aid of the East Bay Community Law Center, Driskill was able to convince his landlord to give him until Oct. 1 to move. Still, the eviction notice was bad timing for Driskill, who is out of work on disability leave, has a limited income and some credit problems.

"I thought I could get a place for $650, which I can't really even afford, but I found that is not possible.", he said. "I realized all I can do is look for a share. I'm used to living alone, but I had no idea how bad it was."

Driskill realizing he'll probably have to shell out $600 for a shared apartment, and he's looking up and down the East Shore. He has learned anything in his price range in Berkeley is aimed at students, so he has pretty much ruled out that city.

"Ultimately, what makes a good neighborhood is good neighbors, and you can often find much stronger neighborhoods in the flatlands than in the high-end areas, " Goodell said. "People saw Oakland has good bones. There are just a lot of great houses here. And it's too good a location to stay cheap much longer."

Laura Counts can be emailed at lcounts@angnewspapers.com

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