# My Rent Will Increase By 10% September First.



## Remy (Aug 1, 2022)

This was recently changed in California from what I have researched. The thing is, for medium and large apartment complexes, these investors are out for max profit. If they do this every year, people will be out on the street.


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## Don M. (Aug 1, 2022)

It appears that rent is up substantially in many States....Florida being the worst, according to this web site.

https://www.statista.com/statistics/1219347/average-annual-apartment-rent-change-usa-by-state/

Much of this is probably another "side effect" of Covid.  New construction of housing has plummeted in the past couple of years, due to the very high price of lumber, etc.  A 2X4 that used to cost less than a dollar has peaked at almost $5.  Meanwhile, more and more people are needing housing every year...thus, driving up prices.


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## Gaer (Aug 1, 2022)

So sorry about your rent increase.  I really am!


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## Artebian (Aug 1, 2022)

Sorry your rent went up. My house payment went up, too.


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## Remy (Aug 1, 2022)

Gaer said:


> So sorry about your rent increase.  I really am!


Thanks so much. I know you mean it and it means a lot to me.


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## Remy (Aug 1, 2022)

@Don M. I'm not in much contact with my brother but apparently his daughter had her rent increased by 300 dollars. I believe she is in North Carolina. She's smart and has a master's degree. She went and bought a townhouse. I wish I had her ability to know what is right to do.

In my area,  I think it's also due to fires. Every little plot of land that sat here empty for the 25+ years I have lived in this county is having apartments going up. Stick built houses. No condos that I am aware of for people to buy and no senior mobile park which is desperately needed in this area after fires wiped them out.

Your posts and the posts of others have really highlighted that building is done for profit, not the needs of people in the community.

I've heard Florida is a nightmare. The rent increase used to be less in California but I found out they raised the ability recently and it was on the local news this evening. I was so happy to get that notice on my door after working a 12 hour shift. I knew what it was the minute I saw it but didn't realize it would be so much. I'll check out the link


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## dseag2 (Aug 1, 2022)

Don M. said:


> It appears that rent is up substantially in many States....Florida being the worst, according to this web site.
> 
> https://www.statista.com/statistics/1219347/average-annual-apartment-rent-change-usa-by-state/
> 
> Much of this is probably another "side effect" of Covid.  New construction of housing has plummeted in the past couple of years, due to the very high price of lumber, etc.  A 2X4 that used to cost less than a dollar has peaked at almost $5.  Meanwhile, more and more people are needing housing every year...thus, driving up prices.


You're right.  Lumber costs skyrocketed during Covid, but now they have decreased substantially.  However, builders are still charging more because they can! 

https://azbigmedia.com/real-estate/...-falling-but-when-will-consumers-see-savings/

High rent prices are also the result of large corporations buying up entire housing developments and renting them out rather than allowing first-time home buyers to buy.


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## Remy (Aug 1, 2022)

dseag2 said:


> You're right.  Lumber costs skyrocketed during Covid, but now they have decreased substantially.  However, builders are still charging more because they can!
> 
> https://azbigmedia.com/real-estate/...-falling-but-when-will-consumers-see-savings/
> 
> High rent prices are also the result of large corporations buying up entire housing developments and renting them out rather than allowing first-time home buyers to buy.


This needs to stop! But politicians from local to Washington DC don't care about the people. I wonder who's dirty hands got greased to increase the rent % in California.  Especially for these complexes. We're not talking mom and pop here who invested in a rental condo, house or two. And why are these investors allowed to buy all this up at the expense of the working citizen?

Some people may be thrilled their houses go up so much but in the end what does that equity get them and what about the younger people in their families.


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## jujube (Aug 1, 2022)

The cost of rent and construction has skyrocketed in Central Florida but it doesn't seem to have slowed down construction, though.  I passed three large developments today that are in various phases of completion.  More traffic ahead.....


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## FastTrax (Aug 1, 2022)

When I was packing my rags and bags and relocating to "You all know where", the apartment complex I was leaving jacked the rent up to $800 a month more then the prevailing rate. The wannabee yups were bailing out at night never to be seen again. The real yups had the cash to ride it out. A lot of electronic goodies were left in their cribs and in the refuse rooms. I coulda grabbed that load and sold it all at the Sanford Flea Market and bought a new ride, lol.

BTW: Landlords are business persons first, last and always.


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## Don M. (Aug 1, 2022)

dseag2 said:


> High rent prices are also the result of large corporations buying up entire housing developments and renting them out rather than allowing first-time home buyers to buy.


That's right....housing has become an "investment" for many corporations.  They are "outbidding" individuals, then renting these houses and apartments for highly inflated prices.  About the Only thing that may halt this trend might be a repeat of the housing bust of 2008.  

https://nypost.com/2020/07/18/corporations-are-buying-houses-robbing-families-of-american-dream/


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## Jules (Aug 1, 2022)

FastTrax said:


> BTW: Landlords are business persons first, last and always.


True.  That’s the bottom line

@Remy  I’m surprised that there isn’t a maximum % percentage.  10% is pretty high.


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## Jan14 (Aug 1, 2022)

My sons just went up from $900 to $1200 in Tennessee.


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## mrstime (Aug 1, 2022)

There are caps that the provincial gov't puts on rent increases. Thank goodness!


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## SeniorBen (Aug 1, 2022)

These are good arguments in favor of public housing so people aren't at the mercy of landlords who are only interested in making a buck. Housing, for most people, isn't a luxury item — especially for people who live in apartments or mobile homes. It's an essential item, much like food and water. The free market often fails miserably when it comes to providing essential goods and services. Health insurance is a good example. Socialism works pretty well for housing in a few other countries. Maybe it's time we tried it here. Yeah, yeah... we've tried "the projects" for low income people, but never anything for the middle class.


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## Bella (Aug 1, 2022)

It's disgusting. Greed is alive and well and it's ugly. 

"*There is not enough affordable housing in the United States.* For every 100 extremely low income households, there are only 29 adequate, affordable, and available rental units. That means two parents who both work minimum-wage jobs might wait years to find a safe, affordable place to live with their two kids. With such high demand, why aren’t developers racing to build affordable apartments? 

It turns out building affordable housing is not particularly affordable. In fact, there is a huge gap between what these buildings cost to construct and maintain and the rents most people can pay. Without the help of too-scarce government subsidies for creating, preserving, and operating affordable apartments, building these homes is often impossible. This tool helps explain why.

Development costs a lot of money. Developers rely on loans and other sources to fund construction before people move in and start paying rent. But developers can only get those loans and equity sources if the development will produce enough revenue to pay back the loans and pay returns to investors. The gap between the amount a building is expected to produce from rents and the amount developers will need to pay lenders and investors can stop affordable housing development before it even begins, leaving few options for the millions of low-income families looking for safe, affordable homes. 

The problem is even more difficult when you consider the poorest residents. In many places, the rent the poorest families can pay is too little to cover the costs of operating an apartment building, even if developers could build that building for free."            

*The cost of affordable housing: Does it pencil out? *> https://apps.urban.org/features/cost-of-affordable-housing/

Bella


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## ElCastor (Aug 1, 2022)

Rate of inflation last year was 7%, and this year 9.1%.
https://www.usinflationcalculator.com/inflation/current-inflation-rates/
The cost of everything is going through the roof -- including your landlord's cost  of maintaining your apartment, and maybe even his taxes. Rather than blame your landlord it might be worth looking at the cause of those inflation numbers.


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## dseag2 (Aug 1, 2022)

I saw that the very unfortunate people who were victims of the floods in Kentucky and lost everything are now living in shelters because there are no rental properties available in their general vicinity.


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## dseag2 (Aug 1, 2022)

ElCastor said:


> Rate of inflation last year was 7%, and this year 9.1%.
> https://www.usinflationcalculator.com/inflation/current-inflation-rates/
> The cost of everything is going through the roof -- including your landlord's cost  of maintaining your apartment, and maybe even his taxes. Rather than blame your landlord it might be worth looking at the cause of those inflation numbers.


Absolutely.  Covid, the war in Ukraine and tremendous demand vs. supply has really contributed to inflation.  People didn't spend anything during the height of Covid.  Now they are spending like crazy and the goods are in short supply.


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## SeniorBen (Aug 1, 2022)

ElCastor said:


> Rate of inflation last year was 7%, and this year 9.1%.
> https://www.usinflationcalculator.com/inflation/current-inflation-rates/
> The cost of everything is going through the roof -- including your landlord's cost  of maintaining your apartment, and maybe even his taxes. Rather than blame your landlord it might be worth looking at the cause of those inflation numbers.


Multi-billion dollar companies are buying up rental properties and raising rents. Check out the Carlyle Group as a good example. While there may be some landlords who are having a tough time, most are doing very well.


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## OneEyedDiva (Aug 2, 2022)

My Honorary Daughter's rent went up just over 9% recently. About 3 years ago, new young landlords bought the house my son, late DIL and their two sons were living in. They raised the rent $250 all at once. I told my DIL I thought that was illegal but she didn't lodge a complaint at that time. I'm so sorry you'll be faced with this rent hike Remy! I certainly hope there's an ordinance or law in place that will disallow raising the rent by such a high percentage each year.


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## Remy (Aug 2, 2022)

Jules said:


> True.  That’s the bottom line
> 
> @Remy  I’m surprised that there isn’t a maximum % percentage.  10% is pretty high..


I agree it's high. It used to be a lot lower but for some reason it was increased recently and these investors jumped on it. I think it was 3 or 5%. Something to do with inflation. But these big apartment complex owners probably don't need the money. They just want it. Greed. And how is this helping working people already dealing with inflation?


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## Remy (Aug 2, 2022)

dseag2 said:


> I saw that the very unfortunate people who were victims of the floods in Kentucky and lost everything are now living in shelters because there are no rental properties available in their general vicinity.


This is very sad and believe me, I've experienced it. While my dwelling has not been destroyed by fire, the mass destruction of homes of all kinds has lessened availability and drove up prices. As I mentioned apartments are going up on every little plot of land that was bare for the 25+ years I've lived in this area. 

After one fire, there were tents in the Walmart parking lot. Some people I knew through work left the state.


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## Remy (Aug 2, 2022)

ElCastor said:


> Rate of inflation last year was 7%, and this year 9.1%.
> https://www.usinflationcalculator.com/inflation/current-inflation-rates/
> The cost of everything is going through the roof -- including your landlord's cost  of maintaining your apartment, and maybe even his taxes. Rather than blame your landlord it might be worth looking at the cause of those inflation numbers.


I don't know about investment property but for housing, taxes don't go up in California as long as you own the house. Just usually very little with local taxes added. I'm actually afraid to ask for repairs here anymore. Why do the repair for me when they can get rid of me, add their cheap pergo flooring and jack the rent up even more? These people are scary and they scare me. I'm not feeling sorry for the investors of these apartments in any way shape or form. If you want to, by all means do.


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## Colleen (Aug 2, 2022)

Remy said:


> This was recently changed in California from what I have researched. The thing is, for medium and large apartment complexes, these investors are out for max profit. If they do this every year, people will be out on the street.


Bastard's


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## Packerjohn (Aug 2, 2022)

Sorry to hear all this bad news about bad rental situations.  I live up here in Canada.  My rent increased $20/month Canadian on June 1st.  I wouldn't say that I'm laughing all the way to the bank but I would say that I sure am smiling and grinning.  Hack, $20 bucks/month, I can take it!  He, He!


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## Remy (Aug 2, 2022)

My post got moved to another section. That's fine, but I'm not retired. And part of it is missing.


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## ElCastor (Aug 2, 2022)

dseag2 said:


> Absolutely.  Covid, the war in Ukraine and tremendous demand vs. supply has really contributed to inflation.  People didn't spend anything during the height of Covid.  Now they are spending like crazy and the goods are in short supply.


I would enjoy debating all the causes of inflation, but that would inevitably involve the "P" word, and as we know that isn't a line we should cross. (-8


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## Teacher Terry (Aug 2, 2022)

When I got divorced last year I knew I had to buy a condo because rents are expensive here and keep going up. I have lived here 25 years and wanted to stay. So we sold the house and I used my share to buy a condo.


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## Remy (Aug 3, 2022)

Teacher Terry said:


> When I got divorced last year I knew I had to buy a condo because rents are expensive here and keep going up. I have lived here 25 years and wanted to stay. So we sold the house and I used my share to buy a condo.


That was smart of you. I've made so many mistakes and I'm paying for it. I feel like I'm supposed to actually.


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## Knight (Aug 3, 2022)

Certainly wouldn't want to live in Jersy City N> J> 

Average Rent in Jersey City, NJ
Last updated July 2022
Average Rent $3,318    
Average Apartment Size795 sq. ft.

https://www.rentcafe.com/average-rent-market-trends/us/nj/jersey-city/

Could it be that rentals that were frozen due to covid the % increase in rates are in order to recoup the loss?
Or to keep up with inflation?


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## Remy (Aug 3, 2022)

I don't know @Knight I don't think regular rents were frozen as the rent was raised last year but not this amount. California changed something. I think it was evictions that changed due to covid and I don't know what's still in place regarding that.

It's really insane and I don't know what will happen to people. Or me. I noted a mobile in a park for sale this morning. It's pending after 10 hours on Realtor dot com.  And it's a 1981 so not super new.


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## Pepper (Aug 3, 2022)

Remy said:


> That was smart of you. I've made so many mistakes and I'm paying for it. *I feel like I'm supposed to actually*.


Get rid of that feeling.  It isn't true.


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## Remy (Aug 3, 2022)

Pepper said:


> Get rid of that feeling.  It isn't true.


That's very kind of you to say but too much has gone wrong, I have to believe there is a reason.


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## FastTrax (Aug 3, 2022)

Remy said:


> My post got moved to another section. That's fine, but I'm not retired. And part of it is missing.



Hey Remy when stuff like that occurs let us know.


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## JaniceM (Aug 3, 2022)

Remy said:


> That's very kind of you to say but too much has gone wrong, I have to believe there is a reason.


Humans make mistakes.  It's part of being human.  
And sometimes it's a matter of other people's mistakes- intentional or unintentional.


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## Pepper (Aug 3, 2022)

Remy said:


> That's very kind of you to say but too much has gone wrong, I have to believe there is a reason.


There is no reason, there is no purpose, there is only your reaction......unless you are speaking about past lives.  Are you?  Speaking karmically?


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## Shalimar (Aug 3, 2022)

JaniceM said:


> Humans make mistakes.  It's part of being human.
> And sometimes it's a matter of other people's mistakes- intentional or unintentional.


Qft.


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## Tish (Aug 3, 2022)

Very sorry about your rent increase.


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## Shalimar (Aug 3, 2022)

Remy said:


> That was smart of you. I've made so many mistakes and I'm paying for it. I feel like I'm supposed to actually.


I have often felt this way, still struggle with the shame, fear, and guilt I have internalised over it. Thing is, we survivors have scrambled emotional circuits. Most of us wouldn’t recognise normal if it bit us. Lol. Therapy helped me realise that most of my mistakes were, and sometimes still are,

related to that scramble. Are there consequences? Absolutely, but this speaks to toxic programming, not poor character. I am still very much under construction, but I am considerably

healthier than the broken soul I once was. You and I did not choose to be broken, that was forced upon us by monsters. The blame is theirs, we do our best to limp through life, embracing what new normal we can muster. Please, please,  do not internalise the gaslit notion that you are being

punished for the transgression of being damaged. No higher power would do this to you. Forgive yourself for being human, not perfect. I see such strength in you, such an enduring, stubborn defiance to live No Matter What! I am so proud of you! Please give yourself some props. Hugs.


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## Remy (Aug 3, 2022)

@Shalimar Your post brought tears to my eyes. Thank you. You are so very kind.   I still wish I could find something suitable for myself and my cats.


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## Remy (Aug 3, 2022)

Pepper said:


> There is no reason, there is no purpose, there is only your reaction......unless you are speaking about past lives.  Are you?  Speaking karmically?


I've wondered what I did in a past life for this. Not sure I fully believe in reincarnation. I know people have suffered much more than myself. Lived short lives. Been hungry, without water, tortured. And I've wondered if my mother finally had to realize how she treated her children after she died. Who knows. 

I was born in the U.S., I can't complain about that really. Yet my life has been far from easy. My own mind drives me nuts sometimes and that's its own form of torture.


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## Shalimar (Aug 3, 2022)

Remy said:


> @Shalimar Your post brought tears to my eyes. Thank you. You are so very kind.   I still wish I could find something suitable for myself and my cats.


You are so very welcome. Ours is a hard road to travel. I truly hope you and your beloved cats find a new home. You DESERVE this.


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## Jan14 (Aug 3, 2022)

Jan14 said:


> My sons just went up from $900 to $1200 in Tennessee.


I’d like to add that his house is much need of repair including a hole in the ceiling from a leaking roof. My son had to repair it because the landlord wouldn’t respond.


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## Shalimar (Aug 3, 2022)

*One last comment. In a way, it is almost a relief to discover that no matter what accomplishments we master, the feelings of inadequacy remain. This speaks to the cult like power of the brainwashing we endured as children. It is on their shoulders, not ours. For me, at least, this releases me from the despair of perfectionism. If you ever need an ear, please know I would be honoured to listen. *


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## Remy (Aug 3, 2022)

Jan14 said:


> I’d like to add that his house is much need of repair including a hole in the ceiling from a leaking roof. My son had to repair it because the landlord wouldn’t respond.


That's an outrage! And I believe you when you say that he had to do repairs himself. When I moved to this complex, there were several available apartments to choose from. Now as soon as they get their lousy cheap pergo put in, paint and whatever repairs they do, the apartment has someone moving in immediately. 

I hope your son will be able to get his own place soon if that's what he wants.


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## Jan14 (Aug 3, 2022)

Remy said:


> That's an outrage! And I believe you when you say that he had to do repairs himself. When I moved to this complex, there were several available apartments to choose from. Now as soon as they get their lousy cheap pergo put in, paint and whatever repairs they do, the apartment has someone moving in immediately.
> 
> I hope your son will be able to get his own place soon if that's what he wants.


Thank you.  They can’t afford it yet. They are thankful to have what they do.  Afraid to cause any waves.  The housing situations is terrible and putting a strain on many.  I’m sorry your rent has been increased.


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## Nosy Bee-54 (Aug 3, 2022)

The main culprits are investors who are turning single family homes into rentals. This couple who lived on the next street from me, they sold last week. They said the investing company made an offer they couldn't refuse. So that basically prevented another couple from buying a single family home. The house is being cosmetically repaired and will be on the rental market any day now. My information is that these investors rent to as many people based on the number of bedrooms (i.e. 4 bedrooms, 4 different leases). The investors are making lots of $$$ hand over fist. Local or state gov't needs to step in and stop this avarice.


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## OneEyedDiva (Aug 4, 2022)

Knight said:


> Certainly wouldn't want to live in Jersy City N> J>
> 
> Average Rent in Jersey City, NJ
> Last updated July 2022
> ...


No Knight. Jersey City went through a revitalization period, expanded it's luxury rental market and is trying to lure sophisticated, career people as renters. Their luxury buildings offer many desireable amenities. They tout an active lifestyle, easy access public transportation, including to NYC as well and some have water views which helps justify the high prices. One of my (some might say weird) hobbies is looking through apartment listings in various cities from time to time. I have to admit, even with the ridiculously high prices, some of those apartments are gorgeous and I'd love to have those amenities.

Here is a sampling of Jersey City listings: 1 BR 1 BA $4,451 (675 sq ft) 2 BR  1 BA $6,617 and 2 BR 2 BA $11,414!! Ridiculous, right?! Several months ago I posted a thread about a young couple living in Jersey City who were paying $4,000 a month, but I can't find it now. I believe they stated that they had a lot more space for the money than if they lived in NYC.  JC rents are rivaling the infamous Bergen County rents. In fact, recently Hudson County, where JC is located, was named the most expensive county to live in.


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## Teacher Terry (Aug 4, 2022)

Remy, we all make mistakes and some cost us more than others. I find what’s happened with corporations buying homes and rents getting expensive really hurting hard working people, seniors, etc.  Locally we are seeing individual bedrooms being rented to different people so the owners are getting much more rent. Our homeless population is increasing and I find the whole situation incredibly sad.


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## Remy (Aug 8, 2022)

Nosy Bee-54 said:


> The main culprits are investors who are turning single family homes into rentals. This couple who lived on the next street from me, they sold last week. They said the investing company made an offer they couldn't refuse. So that basically prevented another couple from buying a single family home. The house is being cosmetically repaired and will be on the rental market any day now. My information is that these investors rent to as many people based on the number of bedrooms (i.e. 4 bedrooms, 4 different leases). The investors are making lots of $$$ hand over fist. Local or state gov't needs to step in and stop this avarice.


I couldn't agree more and posters on this forum have alerted me to this crisis as well as talk radio. They will make cosmetic changes as cheap as possible. And ask the max rent they can get. It needs to stop and the powers that be care nothing as I've mentioned.


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## Remy (Aug 8, 2022)

Teacher Terry said:


> Remy, we all make mistakes and some cost us more than others. I find what’s happened with corporations buying homes and rents getting expensive really hurting hard working people, seniors, etc.  Locally we are seeing individual bedrooms being rented to different people so the owners are getting much more rent. Our homeless population is increasing and I find the whole situation incredibly sad.


Yes it's true. Where will it end I wonder? It's sad, scary and even dangerous.


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## OneEyedDiva (Aug 8, 2022)

My son told me a couple of days ago that my honorary son (HS), his BFF had a rent increase of *$800 a month!!!* That's eight hundred dollars!! I asked my son..is that even legal and he said he asked the same question. My HS lives in Tampa. About a year and a half ago he and his fiancee moved from a nice one bedroom apartment that was paid for by her employer (she was a travel nurse) and they also maintained an apartment in Orlando where he worked PT on the weekend. The new building in which they have 2 bedrooms is gorgeous. When I visited they were in the one bedroom. I was so looking forward to visiting again and having my own room.  He's in mortgage lending and though he does well sometimes, he does not have a steady income. She quit her nursing job just before COVID (thank God because her hours were brutal anyway and her health fragile). She went into real estate briefly but just became a flight attendant in the last few months. I don't know if they can handle that kind of increase; they might decide to move back to a one bedroom.
@Pecos


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## Teacher Terry (Aug 9, 2022)

800/month rent increase is insane. I feel so sorry for the couple.


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## HarryHawk (Aug 9, 2022)

Unfortunately, EVERYTHING we all purchase has gone up by 10%, somethings alot more.  As the value of our money gets devalued, we will all continue to pay more in the number of dollars it costs to purchase goods or services.

I know the cost of living in my house which I own free and clear has risen by at least 10% due to increases in property taxes, utilities, insurance, repairs and maintenance, etc.

I'm not sure it is always fair to blame the owners of rental properties for raising rents.  Just like any other business, they have a decision to make - raise the price or lose everything and go out of business.

THe current environment in which we find ourselves is a very scary and real threat to all of our collective well beings.


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## JustBonee (Aug 9, 2022)

Only 10% rent increase?  ...   around here,   rent is going up at least 15% on renewing leases,   and  for many  it will be more. 

Along with property owners facing higher costs/taxes   themselves,  there is also a shortage of apartments  with the  influx  of people coming to the area.


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## OneEyedDiva (Aug 9, 2022)

Bonnie said:


> Only 10% rent increase?  ...   around here,   rent is going up at least 15% on renewing leases,   and  for many  it will be more.
> 
> Along with property owners facing higher costs/taxes   themselves,  there is also a shortage of apartments  with the  influx  of people coming to the area.


Bonnie, check out my post #53! @HarryHawk 
@Teacher Terry ..yes insane is a good word for it. Another is obscene!


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## JustBonee (Aug 9, 2022)

With the demand,  and shortages,   housing everywhere will just keep going up.


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## Remy (Aug 20, 2022)

Bonnie said:


> With the demand,  and shortages,   housing everywhere will just keep going up.


And to what end?


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## OneEyedDiva (Aug 20, 2022)

HarryHawk said:


> Unfortunately, EVERYTHING we all purchase has gone up by 10%, somethings alot more.  As the value of our money gets devalued, we will all continue to pay more in the number of dollars it costs to purchase goods or services.
> 
> I know the cost of living in my house which I own free and clear has risen by at least 10% due to increases in property taxes, utilities, insurance, repairs and maintenance, etc.
> 
> ...


Harry, while I agree with you that landlords most likely find it necessary to raise rents to keep up with escalating costs, I do think $800 a month (see my post #53) is excessive. But of course, I have no way of knowing how the expenses for the community grew. My Honorary son doesn't live in a private home, it's an apartment complex.

I consider myself blessed as the owner of a co-op unit purchased 51 years ago. Our carrying charges (aka HOA fees) seldom get raised, but when they do it's only by $50. Earlier this year a $50 a month assessment was added to our charges. Really, my neighbor-friend, her husband (who's the board's VP) and I think it should have been $100 based upon the co-ops needs. Right now while the average rental costs for two bedrooms in northern N.J. start at around $1,768 (according to recent stats I saw), we're still only paying $644 a month and that includes our taxes. The mortgage was paid off in 2012.

As expected, my honorary son and his fiancee decided to move back into a one bedroom and start saving to buy a home, maybe in a couple of years. @Teacher Terry


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## Remy (Aug 27, 2022)

HarryHawk said:


> Unfortunately, EVERYTHING we all purchase has gone up by 10%, somethings alot more.  As the value of our money gets devalued, we will all continue to pay more in the number of dollars it costs to purchase goods or services.
> 
> I know the cost of living in my house which I own free and clear has risen by at least 10% due to increases in property taxes, utilities, insurance, repairs and maintenance, etc.
> 
> ...


I have tried. I bought a house but I sold it. I didn't feel safe there. The truth is, I could have paid it off myself by now, but I'm renting. 

I will not feel sorry for property rental owners. Look at the post by OneEyedDiva, this is greed and I understand Florida is at the forefront of this. And it's wrong. Yet allowed. 

I spoke to my neighbor today who lives behind me. He's so quiet, I don't know he's there. He doesn't do a lease (I thought he did) and he said everyone's rent was increased "because they can." The complex was bought by a Russian company and they are buying more complexes. His brother is in real estate on some level and I guess got information. What's going on isn't expenses for the owner needs, it's max greed!


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## OneEyedDiva (Aug 27, 2022)

Remy said:


> I have tried. I bought a house but I sold it. I didn't feel safe there. The truth is, I could have paid it off myself by now, but I'm renting.
> 
> I will not feel sorry for property rental owners. Look at the post by OneEyedDiva, this is greed and I understand Florida is at the forefront of this. And it's wrong. Yet allowed.
> 
> I spoke to my neighbor today who lives behind me. He's so quiet, I don't know he's there. He doesn't do a lease (I thought he did) and he said everyone's rent was increased "because they can." The complex was bought by a Russian company and they are buying more complexes. His brother is in real estate on some level and I guess got information. What's going on isn't expenses for the owner needs, it's max greed!


I can't post the article here because only subscribers can read it but here are excerpts from an article in The Bergen Record (N.J) about how home buyers and renters are being priced out of the market due to LLC's buying up properties and jacking up their prices. 

_"New Jersey’s real estate market has been whipped and warped by a proliferation of corporate investors that have snapped up tens of thousands of homes, turning the state into a giant Monopoly game of the haves and the have-nots.  

Fortified by new federal and state tax breaks and billions in investor capital, limited liability companies, or LLCs, have locked out many first-time homebuyers who can’t compete with their all-cash offers.

LLCs have forced tenants to fix sometimes crumbling homes at great cost, in some cases leading to health problems. And they have pushed out tenants who can’t keep up with skyrocketing rent."

An analysis by the Asbury Park Press of state sales and tax records has found the number of LLCs owning single- to four-family homes soared from 12,000 in 2012 to more than 72,000 last year._

The lengthy article goes on to say:
_"As people moved to New Jersey during the pandemic, the median home price in the state soared from $302,000 in 2016 to $460,000 in June 2022, or 52%, according to the New Jersey Association of Realtors."

Renters are scarcely better off. 
Average rent in New Jersey climbed to $2,414 a month in 2021 from $1,770 in 2020, according to Rent.com, a website for landlords to list their properties. That's virtually the equivalent of a monthly mortgage payment on a $400,000 home, with a 10% down payment and 5% interest rate on a 30-year loan. 

For some New Jersey residents, the influx of LLCs left them with a frantic search for an affordable place to live." _


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## OneEyedDiva (Aug 27, 2022)

Teacher Terry said:


> 800/month rent increase is insane. I feel so sorry for the couple.


As expected my honorary son found another apartment in a brand new building. It's a one bedroom with a den about 10 minutes from where they were living and 10 minutes from the ocean. The cool part is that his youngest daughter is moving to Tampa and will only be minutes away from where he'll be living. And they'll be saving $700 over what they would have paid if they stayed where they are. But that also means they'll be paying $100 more for a one bedroom than they are for a two bedroom.


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## Lewkat (Aug 27, 2022)

Ours is increasing by 13%, which is outrageous.


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## funsearcher! (Aug 27, 2022)

My increase is 14.5%, so I am selling things and cutting back wherever I can.


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## Remy (Aug 27, 2022)

@OneEyedDiva It's an absolute outrage! How is this going to end for some people. If they wanted, our legislators could start putting a stop to this. But they won't. They are crooks also and I swear hands are getting greased with money. This is not inflation, it's greed!!!


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## Lewkat (Aug 27, 2022)

This is why this country is leaning more and more toward Communism.  The CEO's and Lawyers running everything with our politicians in their back pockets are ruining it all.  But, they will be the one's to lose in the long run.  Just ask the Russians.


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## palides2021 (Aug 27, 2022)

OneEyedDiva said:


> As expected my honorary son found another apartment in a brand new building. It's a one bedroom with a den about 10 minutes from where they were living and 10 minutes from the ocean. The cool part is that his youngest daughter is moving to Tampa and will only be minutes away from where he'll be living. And they'll be saving $700 over what they would have paid if they stayed where they are. But that also means they'll be paying $100 more for a one bedroom than they are for a two bedroom.


My sister lives in Florida, and the rent there has increased tremendously from years ago, and her married sons are now living either with her and her husband, or with their in-laws. They can't afford the high rent.


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## NorthernLight (Aug 27, 2022)

Terrible, for many people. I researched rental prices and availability across Canada. In most places (even "nothing" towns), a bachelor or 1-bedroom apartment costs 60%-100% of my income. 

In cities like Toronto and Vancouver, rents are even higher. In many places across the country, there are no vacancies, and waiting lists are long.

I ended up moving to an isolated boom town that went bust. There are lots of vacant apartments, and rents are low. Living here is not ideal, and sometimes people advise me to leave. But I really can't move anywhere else in this country. Not if I want to eat.

Moving to a "depressed area" is something to consider.


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## Gaer (Aug 27, 2022)

Remy said:


> I've wondered what I did in a past life for this. Not sure I fully believe in reincarnation. I know people have suffered much more than myself. Lived short lives. Been hungry, without water, tortured. And I've wondered if my mother finally had to realize how she treated her children after she died. Who knows.
> 
> I was born in the U.S., I can't complain about that really. Yet my life has been far from easy. My own mind drives me nuts sometimes and that's its own form of torture.


Sometimes it's not easy to live on this Earth.  Hope things get better for you.


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## Remy (Aug 27, 2022)

Thank you @Gaer that's very kind of you. One upside to not being in that house, it in was a mandatory evacuation 1 or 2 years ago (I can't keep track of all these fires) The area didn't burn but I'd have been freaking out.


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## Gaer (Aug 27, 2022)

Remy said:


> Thank you @Gaer that's very kind of you. One upside to not being in that house, it in was a mandatory evacuation 1 or 2 years ago (I can't keep track of all these fires) The area didn't burn but I'd have been freaking out.


Yes, I get many fires here as well.  One came so close to my home.  It burned 47,000 acres.
Most people around here can't afford Homeowner's insurance either.  
I could see the flames from my yard.    I know, it's scary.


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## Blessed (Aug 27, 2022)

I am in a home much larger than my needs. I only use five rooms, my bed and bath, kitchen, den and laundry,  The grandson gets the front living room for TV and video games.  He has a bedroom and play room.  If my son and DIL stay over they have a master en suite. 

 The homes in my area are selling for top dollar.  The truth is that it is much cheaper for me to stay and just pay the taxes and insurance, I am mortgage free.  I looked at buying a smaller home but they were also high.  At least I know my home has been well maintained.  I looked at apartments rents that are just stupid high, not even the newer nicer ones.  I looked at the apartments my husband and I were in about 35 years ago when we bought our first house.  I loved the layout and space of the floor plan.  Of course, now the area is not as nice.  It is still higher than my monthly expenses in a large home. 

So here I am and will be until I am gone or until I have to be placed in care.


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## Nipper (Aug 27, 2022)

I seriously thought about placing my paid-off home on the market this past summer, but while watching the prices on Zillow.com and Realtor.com, I would have to go into debt to buy another home and I wasn't having that! The homes I had seem to be interested in were being bought by investors, outbidding everyone.  I've decided to just sit on what I have; at least it's paid for. I would be afraid to rent in this day because rent increases are unbelievable to the point many people become homeless.


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## Jules (Aug 27, 2022)

OMG @Gaer. Fire is terrifying.  Is it all under control now?


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## OneEyedDiva (Aug 27, 2022)

Gaer said:


> Yes, I get many fires here as well.  One came so close to my home.  It burned 47,000 acres.
> Most people around here can't afford Homeowner's insurance either.
> I could see the flames from my yard.    I know, it's scary.


That must be terrifying! It's scary just watching it on the news. I hope you and your home will remain safe Gaer!


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## Giantsfan1954 (Aug 28, 2022)

OneEyedDiva said:


> No Knight. Jersey City went through a revitalization period, expanded it's luxury rental market and is trying to lure sophisticated, career people as renters. Their luxury buildings offer many desireable amenities. They tout an active lifestyle, easy access public transportation, including to NYC as well and some have water views which helps justify the high prices. One of my (some might say weird) hobbies is looking through apartment listings in various cities from time to time. I have to admit, even with the ridiculously high prices, some of those apartments are gorgeous and I'd love to have those amenities.
> 
> Here is a sampling of Jersey City listings: 1 BR 1 BA $4,451 (675 sq ft) 2 BR  1 BA $6,617 and 2 BR 2 BA $11,414!! Ridiculous, right?! Several months ago I posted a thread about a young couple living in Jersey City who were paying $4,000 a month, but I can't find it now. I believe they stated that they had a lot more space for the money than if they lived in NYC.  JC rents are rivaling the infamous Bergen County rents. In fact, recently Hudson County, where JC is located, was named the most expensive county to live in.


There's also many areas of J.C. that are 1 step above slums.
My son & his wife lived in 1 such area.
I often wonder how that works,renting in a beautiful, rehabbed building but the bad spots are less than a mile away.


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## Liberty (Aug 29, 2022)

NorthernLight said:


> Terrible, for many people. I researched rental prices and availability across Canada. In most places (even "nothing" towns), a bachelor or 1-bedroom apartment costs 60%-100% of my income.
> 
> In cities like Toronto and Vancouver, rents are even higher. In many places across the country, there are no vacancies, and waiting lists are long.
> 
> ...


NorthernLight: 
Doesn't Canada have any low income helpers - govt. programs to subsidize lower income people?


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## Liberty (Aug 29, 2022)

Around this burg, new subdivisions are being built "to rent" not to buy.  Builders organizations are building brand new houses for the rental market only!  As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also.  He says "too many people in the world".


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## OneEyedDiva (Aug 29, 2022)

palides2021 said:


> My sister lives in Florida, and the rent there has increased tremendously from years ago, and her married sons are now living either with her and her husband, or with their in-laws. They can't afford the high rent.


There will be a lot of multigenerational homes because the cost of living is just too expensive and things will get worse.


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## OneEyedDiva (Aug 29, 2022)

Giantsfan1954 said:


> There's also many areas of J.C. that are 1 step above slums.
> My son & his wife lived in 1 such area.
> I often wonder how that works,renting in a beautiful, rehabbed building but the bad spots are less than a mile away.


Well after all Jersey City is a *city.* We see this in other urban areas as well. I don't know how that works... I guess people just become adept at avoiding those areas, especially if they own cars and/or where they need to be is in another direction away from the ghetto areas.


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## caroln (Aug 29, 2022)

OneEyedDiva said:


> There will be a lot of multigenerational homes because the cost of living is just too expensive and things will get worse.


You beat me to it!  I was just about to say that it will be like the old days with grandparents, parents, children, and grandchildren all sharing the same house again.


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## JustBonee (Aug 29, 2022)

Liberty said:


> *Around this burg, new subdivisions are being built "to rent" not to buy.  Builders organizations are building brand new houses for the rental market only! * As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also.  He says "too many people in the world".



I didn't know that.  
I'm surprised that they feel they will make out better renting,   rather than selling   ... always seemed like  the 2nd  choice in the past. ??


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## Remy (Aug 29, 2022)

Liberty said:


> Around this burg, new subdivisions are being built "to rent" not to buy.  Builders organizations are building brand new houses for the rental market only!  As hub is the pres of the fire dept and a commissioner, he's aware of whats in the works also.  He says "too many people in the world".


That's an outrage! This is why I say again, our legislatures care not one bit about the poor working person. They allow this to happen. There is no damn American Dream. Just money!!!

And again, as I learned from posters on this sub, building is done for profit, not the needs of the community.


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## Pepper (Aug 29, 2022)

We owe our souls to the company store.


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## NorthernLight (Aug 29, 2022)

Liberty said:


> NorthernLight:
> Doesn't Canada have any low income helpers - govt. programs to subsidize lower income people?


There is a rent subsidy program for seniors (provincial I think). I did the calculations, and the most I could get would be CAD 250. Not much help if rent is $1000 more than I can afford.

And that's assuming I could get the subsidy. The federal government messed up my retirement pensions for more than a year. Very stressful. I don't want to go through anything like that again.


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## Liberty (Aug 29, 2022)

Bonnie said:


> I didn't know that.
> I'm surprised that they feel they will make out better renting,   rather than selling   ... always seemed like  the 2nd  choice in the past. ??


New money is always coming in this area - mainly from California and New York I think.  These new subdivisions have retention ponds and present growth issues for our fire dept which is rural.  Hub donates his time to give back, and as a previous project engineer he is now engaged on various new fire stations, in order to offer timely response to all these new residents.  

It seems like a circle...people sell and move out of states where their home equity grew in staggering amounts.  They can sell out and come to areas like this that are offering the nearness of metro shopping and the beauty of nature and country.  Seems to be an unlimited stream of "ready renters" I call them - paying 3 and 4 grand a month for a new home in a new subdivision. This also messes up the local rental pricing structure, of course.  Our rents have always been moderate for what people have received for same.


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## Jules (Aug 29, 2022)

It’s depressing.  Our rental vacancy rate for the whole valley is less than one %.  What is available is high priced.  It’s also a tourist Mecca so many places are built for seasonal living.  

Building new structures is expensive.  No private company is going to do it without making a profit.


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## OneEyedDiva (Aug 29, 2022)

Pepper said:


> We owe our souls to the company store.


Yeah right!


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## Remy (Aug 30, 2022)

Jules said:


> It’s depressing.  Our rental vacancy rate for the whole valley is less than one %.  What is available is high priced.  It’s also a tourist Mecca so many places are built for seasonal living.
> 
> Building new structures is expensive.  No private company is going to do it without making a profit.


You are absolutely right. They will build for max profit. It's really getting out of hand though and hurting people.


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## Remy (Aug 30, 2022)

Liberty said:


> New money is always coming in this area - mainly from California and New York I think.  These new subdivisions have retention ponds and present growth issues for our fire dept which is rural.  Hub donates his time to give back, and as a previous project engineer he is now engaged on various new fire stations, in order to offer timely response to all these new residents.
> 
> It seems like a circle...people sell and move out of states where their home equity grew in staggering amounts.  They can sell out and come to areas like this that are offering the nearness of metro shopping and the beauty of nature and country.  Seems to be an unlimited stream of "ready renters" I call them - paying 3 and 4 grand a month for a new home in a new subdivision. This also messes up the local rental pricing structure, of course.  Our rents have always been moderate for what people have received for same.


When I lived in Washington state they mainly blamed California for the increase in rental and property prices.

My area used to be rather affordable especially compared to much of the state. And while it's not like the San Francisco bay area or southern California, it's getting out of hand here also.


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