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Updated over 3 years ago on . Most recent reply

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NA Whelan
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What would you do in this situation

NA Whelan
Posted

I have been living in the same Apartments since February of 2014. I usually sign a year's lease at a time with a small increase in the monthly rent. We also have to go with a certain cable internet company which is included in the rent and water at a discounted rate. I just received notice that my renewal is up and the increase of rent and cable exceeds $100.  We are forced to pay the cable / internet which will now be over $100 a month. I understand a small increase but over $100 a month combined rent and cable service I think is ridiculous and I do plan on speaking with the manager to find out exactly what is going on

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Patrick M.
  • Rental Property Investor
  • Red Bank, NJ
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Patrick M.
  • Rental Property Investor
  • Red Bank, NJ
Replied

The beauty of renting is the mobility. Sure, it stinks to have to pack up and move, but if you are being overcharged the answer is simple- move to another apartment.

I think what many tenants find is that although they may have a large rent increase, it is still far cheaper then market rate. If it was not the case they would not seek the advice of internet strangers. By all means- speak to the manager, maybe they will reduce your rent?

Have you been looking at the price of 2x4's, other materials, appliances, water heaters, etc. over the past year? They are up Significantly, as is the costs associated with professional services... and that is Significantly with a capital S. That your landlord has been giving you modest increases over the past, low inflation years, is really a testament to his increases being structure around actual costs. And of course, the thanks he gets for this is a tenant who can't understand why the "bubble of a world" he has been living in since 2014 is suddenly burst.

I am sure you have looked at the market and seen that despite the increase, you have it better than what is out there... but that isn't good enough is it?

Sometimes I look forward to unloading my properties and becoming a renter. No more absorbing huge tax, utility and services increase with no one to blame. Wake up in the morning and when something doesn't work make a simple call and have it fixed for free... What a dream!

I am convinced that many people will go through life always believing they are victims... and the number is growing.

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