Can’t afford to rent in San Francisco? Take a number.
No, really, take a number in the Mayor’s Office of Housing lottery for a below-market-rate lease at Vara, the normally pricey, 200-unit apartment complex at 15th and Mission. Apply by March 9 and you could score an April move-in date and a monthly rental cost of $941.
There are some qualifications. First, a single tenant can be making no more than $39,250 a year, and a pair can make no more than $44,850 between them. But you also have to make at least $28,230 a year, so that the city can be confident you can actually afford the deal.
You’ll also need to pass a credit check, prove that you have no felony convictions in the past seven years, and since this is a studio unit your maximum allowed household size tops out at two people (not counting children under six).
If you’re still with us, the unit up for grabs is #312, a 518-square-foot studio. The deposit is $500, with an extra $65 for pets. If you want the parking space that comes with it, that’s an extra $100. There’s an open house tomorrow (March 5) from 1:00 pm to 3:00 pm. Note that the photos used here are of a similar unit in the same building, rather than this specific one.
Vara opened in 2013, and other studios in the building are presently renting for (brace yourself) $3,253 a month, with an $800 deposit. That’s $6.30 per square foot, versus a mere $1.80 under the BMR lease the city is offering.
The building comes with some amenities, including a catered clubhouse, courtyard lounge, and sound-proof meeting rooms for when you’re working from home. But the main selling point is that it’s right smack damn in the middle of the Mission, a block from BART.
If you don’t qualify for this one then don’t despair; other BMR leases will pop up over the coming year. If you do qualify, click here to apply, and cross your fingers that your number comes up. If you have any questions, contact Garbo Chang at Vara’s managing company: email@example.com.