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
JZstrng t1_ja7f91t wrote
How much was it before?
cke1989 OP t1_ja7o91x wrote
Rent went up about $50 last year, now $75 this year. Previously it had gone up $25.
cke1989 OP t1_ja7q862 wrote
It went from 1,475 to 1,550.
njdevils3027 t1_ja7rdet wrote
I’m sorry, but that’s nothing. I’ve heard 20% + horror stories.
MotorboatingSofaB t1_ja7rf9t wrote
5% increase isnt crazy
cke1989 OP t1_ja7rmqq wrote
15% is what is legal in WNY.
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.
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.
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
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.
blumpkin_donuts t1_ja8e14l wrote
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_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.
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
njdevils3027 t1_ja9cu1n wrote
And this increase was 5%
Rstucks t1_ja9z4ch wrote
Right and people with Covid deals went up 30% - 50%. Crazy!!!
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.