Rent

The buildings I am in were built in the 1980’s, the appliances are new and they have great service, when you need something they fix it right away. I received a new lease agreement in the mail, saying my rent was going up $30. When I asked management why it goes up so much so fast, they said everyone is going up, the average between $30-50. I don’t understand why rent goes up so much so fast. The mortgage that the owners are paying on the buildings doesn’t go up, insurance and employee wages do, but $50 per tenant will add up to a lot more than the small increase the employees will get. I understand everything is a business and everyone wants to get paid, but to go up $30-50 a year per tenant is lucrative for the same service.

With the increase last year and this year, I will be almost up to $700 a month for a one bedroom, 790 square foot apartment. A little over a year ago I was paying $615, now $680? The housing situation has forced some home owners to move back into an apartment complex. I don’t have numbers on the occupancy to capacity rates for either before the credit crunch or now, but I would imagine the apartment communities are at a higher occupancy rate now, meaning they are bringing in more, as well as charging more? People do take advantage of situations, and it makes sense, but when is too much? The range between the rich and the poor is expanding.