Has anyone else been hit by a rent increase? My walkup in West New York is now going to be over $1,500 a month. This is without any amenities, and barely any parking.
Comments
blumpkin_donuts t1_ja8e14l wrote
JFC
SleepyHobo t1_ja8es0p wrote
Corporate landlord sold the building a few months before my lease was up. They started renting out apartments for new leases a bit lower than what they increased mine to. I think they wanted me out to renovate it.
At least I got my full security deposit back. They could have deducted a decent amount for cleaning.
JZstrng t1_ja7f91t wrote
How much was it before?
cke1989 OP t1_ja7q862 wrote
It went from 1,475 to 1,550.
MotorboatingSofaB t1_ja7rf9t wrote
5% increase isnt crazy
cke1989 OP t1_ja7rv0g wrote
It's more frustrating that we aren't seeing any changes to the building. If I saw some sort of improvement I might be on board, but really it seems like the management company likes to turn and burn tenants. Many of my neighbors have moved in the last two years.
Banana_bride t1_ja7xbzb wrote
Property taxes probably went up for landlord, too. It sucks but at the end of the day, their purpose is the make $ on the property
bensonr2 t1_ja7ww9v wrote
Increases suck, but that's less then inflation. I wouldn't expect improvements with that increase.
Yeah it still sucks, but that seems like a normal year to year increase. Not the horror stories people are seeing elsewhere.
JZstrng t1_ja8m3h6 wrote
I’m no fan of landlords (I’m a renter myself), but costs have gone up for them as well. In my opinion, 5% is not too bad, considering the rate of inflation in the last 12 months.
njdevils3027 t1_ja7rdet wrote
I’m sorry, but that’s nothing. I’ve heard 20% + horror stories.
Rstucks t1_ja9z4ch wrote
Right and people with Covid deals went up 30% - 50%. Crazy!!!
cke1989 OP t1_ja7rmqq wrote
15% is what is legal in WNY.
njdevils3027 t1_ja9cu1n wrote
And this increase was 5%
siamesecat1935 t1_ja8mfkl wrote
Yup. They're going up everywhere. My 1BR in Western Morris County went from about 1500 to over $1650.
Zhuul t1_ja92lt1 wrote
My municipality has a hard limit of 3.7% or something for rent increases, it’s friggin great
Linenoise77 t1_ja7ajn1 wrote
Yes, pretty much anyone who has rented has seen their rent go up the last 2 years. Landlord costs have gone up a ton since the pandemic, some took it in the teeth during it and are trying to recoup costs, and demand is still sky high.
1500 sounds like a steal in west ny.
Edit: curious as to why i am being downvoted as to pointing out everyone's rent has gone up.
cke1989 OP t1_ja7o91x wrote
Rent went up about $50 last year, now $75 this year. Previously it had gone up $25.
TheZachster t1_ja7y6m7 wrote
seems like its probably still below market value.
SleepyHobo t1_ja85npl wrote
My rent went from $1750 to $2450 for an apartment in New Brunswick.