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Old 03-11-2020, 05:09 PM   #1
killtrocity
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Default What sorts of rent increases are y'all seeing?

Last year our apartment management tried to raise our rent 7%. We talked them down to 3.5%. This year they tried 6.7% and they only went down to 4.8%. We're going to tell them to eat ass.

What's y'allz rental situations? Shit's crazy out there... Might go live in the country and eat berries.

 
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Old 03-11-2020, 05:52 PM   #2
FlamingGlobes
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Mine went up 3% last year, which I think is more than fair given how wild the housing market has gotten since I moved in. I fully expect another slight raise, but yeah. Hard to see where this is all going when the average person likely won't be able to swing it on their own two or three years down the line. Feels like another bubble about to burst. Thanks Obama!

 
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Old 03-11-2020, 06:02 PM   #3
FoolofaTook
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ur dad went up

 
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Old 03-11-2020, 06:11 PM   #4
FlamingGlobes
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*cough*

 
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Old 03-11-2020, 06:11 PM   #5
LaBelle
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Just like Tool fans, it's preeeeeeeetty high.

 
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Old 03-11-2020, 06:11 PM   #6
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311 fans would work too.
Practically the same band.

 
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Old 03-11-2020, 06:51 PM   #7
wHATcOLOR
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amber is the color of your energy
woah-oh-oohh woah-oh-oohh
amber is the color of your energy

 
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Old 03-11-2020, 07:35 PM   #8
smashingjj
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can homeowners just increase the rent with however much they want there?

there's a legal maximum here if you already live somewhere. if ppl leave their house after the years and new ones come in the increase is mostly yuge.

 
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Old 03-11-2020, 07:58 PM   #9
buzzard
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Sounds to me like your government hates freedom.

 
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Old 03-11-2020, 08:25 PM   #10
reprise85
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Mine went up 5% last year. from 1000 to 1050. I'm expecting it to go to 1100. my lease is over in june

 
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Old 03-12-2020, 08:58 AM   #11
Eulogy
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The key is to avoid management companies. Private landlords who only have like one unit seem to be satisfied if you pay on time and don’t cause trouble. Haven’t had a rent increase since we went that route. Knocking on wood.

 
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Old 03-12-2020, 10:48 AM   #12
killtrocity
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I noticed that disparity on Craigslist. For the Twin Cities, it's at least 25% cheaper on average to go with an individual landlord, not counting the benefit of not sharing walls with people, getting a garage and yard, not having to smell your neighbors' cigarettes, etc.

 
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Old 03-12-2020, 10:56 AM   #13
killtrocity
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Quote:
Originally Posted by smashingjj View Post
can homeowners just increase the rent with however much they want there?

there's a legal maximum here if you already live somewhere. if ppl leave their house after the years and new ones come in the increase is mostly yuge.
There aren't hard caps on rent in the USA, no. At least not nationally. Functionally we see some semblance of that phenomenon, but only if you own property ... my mother was locked in at like $1000/month mortgage payments. Then she sold and now her rent is $1800/month for a lower quality place. So in the USA if you are wealthy enough to own property, it is tremendously advantageous.

I think New York may have hard caps... there are generational renters who keep the lease in the family and pay like 1960's rates. That's anecdotal though, I haven't done my research, and could very well be fascist propaganda. Don't believe this asshole on the internet <---

 
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Old 03-12-2020, 10:57 AM   #14
killtrocity
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Quote:
Originally Posted by reprise85 View Post
Mine went up 5% last year. from 1000 to 1050. I'm expecting it to go to 1100. my lease is over in june
Do you have a management company or an individual landowner?

 
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Old 03-12-2020, 11:08 AM   #15
topleybird
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Quote:
Originally Posted by killtrocity View Post
I think New York may have hard caps... there are generational renters who keep the lease in the family and pay like 1960's rates. That's anecdotal though, I haven't done my research, and could very well be fascist propaganda.
Anecdotal too, but I had a friend who was living in her grandmother's apartment in NYC, possibly illegally as her grandma had died without putting the friend's on the lease, and there was no way she could've afforded that big place without it being rent controlled

Ended up definitely illegally subletting it to some other friends it all got messy, but that's neither here nor there

I think her two buddies across the hall had some similar scheme going on but I'm not sure

 
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Old 03-12-2020, 11:09 AM   #16
topleybird
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Thumbs up

Anyway here's a candid I shot of her


 
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Old 03-12-2020, 11:25 AM   #17
killtrocity
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Does your friend have a friend? She's quite charming.

Your photography skills are also rather impressive.

 
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Old 03-12-2020, 02:18 PM   #18
wHATcOLOR
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how you doin?

 
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Old 03-12-2020, 03:50 PM   #19
MplsTaper
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I live in a small (maybe 440 square feet) one bedroom apartment. Love it, it's in a brownstone that was built in 1914. Top floor so it's quiet, hardwood floors, tiled kitchen & bathroom, old school hot water radiator heat (big one in the living room & smaller one in the bedroom) and a huge clawfoot tub that I don't use because I take showers. I can walk to work and plenty of other places plus there's really good access to mass transit. Pay for electric, internet and phone but heat, water and trash are covered by the landlord which is a management company with around 14 buildings in and around the neighborhood.

I moved in at $790 which back in the day this apartment was probably $400 or $500 something. After the first year it went up to $800, then $812 the 3rd year. When I went to consider a 4th lease I realized they were keeping it at $812 for another 12 months. Of course I signed that puppy! I am really nervous they are taking it easy on me this year so they can really screw me on the 5th lease. I get a 60 day notice of any rent increase so I know if I would like to sign another one or move. My neighborhood and the whole city is being gentrified. "Luxury apartments" are going up everywhere with really crappy materials and builds.

Look at this fucking place, 400 sqft. studios start at $1,220-1,310, one bedrooms at $1,525-2,135 and two bedrooms $2,670-2,855:

https://www.apartments.com/marquee-a...is-mn/rne1q82/

People from California, Seattle and wherever else are moving here because Minneapolis is a nice little city with lots to do and "housing is so affordable compare to where I'm from". Yeah, it used to be affordable but now my friends and fellow neighbors are being priced out of our neighborhood(s). Thanks jerks. You also have wealthy suburbanites who want to be "cool" and move back into the city along with 22 year old software developers that don't mind paying $1500+ for rent out of college because they are making $75,000 - $100,000 or more a year.

I have family in Phoenix and Las Vegas, same thing with people moving from California in droves because they cannot afford to live in CA anymore. I understand that gentrification is not unique to Minneapolis but fuck me.

/rant

Last edited by MplsTaper : 03-12-2020 at 03:56 PM.

 
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Old 03-12-2020, 04:31 PM   #20
killtrocity
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Dude, I used to live 5 blocks from that link you posted. Moved right when they tore down Ryan's Pub and Salsa a La Salsa for that luxury clapboard shit. Neighborhood is out of control. Much rather have people trying to trade me iPhones for cigarettes on the street corner than this luxury crap.

 
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Old 03-12-2020, 04:54 PM   #21
MplsTaper
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Wow, you know the dang deal. I've lived here for almost 4 years but have been hanging out down here for well over 10. Used to always hang out as Asian Taste (fka Great Sun fka New Delhi fka many other places) and Ryan's.

RIP: The Red Eye Theater, Somali daycare, Salsa a la Salsa, Asian Taste, Ryan's Pub, Upper Cuts Barbershop, Market Bar-B-Que and Jerusalem's Restaurant (different block but here for ~40 years). Market moved in NE (4th move in 70+ years) and Salsa still has their global market spot.

 
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Old 03-13-2020, 09:58 AM   #22
TuralyonW3
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I own a 3100 sq ft 2-story home in a great school district and pay $1550 a month in mortgage. Some of y’all will really get suckered burning through rent money your whole life.

 
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Old 03-13-2020, 10:42 AM   #23
Joey Goldberg
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post/av

 
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Old 03-13-2020, 01:38 PM   #24
FlamingGlobes
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Quote:
Originally Posted by TuralyonW3 View Post
I own a 3100 sq ft 2-story home in a great school district and pay $1550 a month in mortgage. Some of yall will really get suckered burning through rent money your whole life.
Talk to us when your furnace breaks, your home floods out or any other shit you have to fix or pay to fix comes up.

 
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Old 03-13-2020, 02:15 PM   #25
Joey Goldberg
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oh believe me young man



I will.

 
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Old 03-13-2020, 03:16 PM   #26
Eulogy
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Quote:
Originally Posted by TuralyonW3 View Post
I own a 3100 sq ft 2-story home in a great school district and pay $1550 a month in mortgage. Some of yall will really get suckered burning through rent money your whole life.
Give me money for a down payment and Ill gladly join your ranks!

 
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Old 03-13-2020, 04:01 PM   #27
Eulogy
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And oh yes plz pay my property taxes no matter how much they go up lol

 
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Old 03-13-2020, 04:01 PM   #28
Eulogy
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But hey we’re due for another housing crash so I’ll be paying attention

 
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Old 03-13-2020, 04:17 PM   #29
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Here in Metro DC I have friends who have had increases as high as 20% this year. I am in a "rent controlled" apartment so they were only allowed to raise mine 2% this year.

 
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Old 03-13-2020, 05:27 PM   #30
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Thank goodness cycling pays well.

 
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