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Old 06-01-2015, 09:14 AM
 
Location: San Antonio, TX
163 posts, read 151,350 times
Reputation: 226

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The way I see it, in my microcosm of NW SA in the I-10\1604 area is that all of the new luxury apartment complexes that have been built in the last 1-2 years are causing the existing luxury complexes (and even ones that weren't before, but have committed to\already executed massive upgrades) are jacking up their rent to stay competitive and or shift the demographics of their tenants. This has happened at the one I live in currently. The rent on it just went up $200/mo. Am I a bit pissed? Yes, but I do understand why they're doing it. It's my choice to stay there and pay and I chose not to. So I am moving. That's life. I do see this happening all over SA. I consider myself VERY well versed in this considering all of the research I've had to do from last year to present finding a complex to live in. I didn't just look at where I wanted to live, I looked all over the city in every corner and prices for luxury\near luxury apartments are definitely going up all over.
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Old 06-01-2015, 03:52 PM
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Location: Ohio
16,827 posts, read 33,246,704 times
Reputation: 13624
Remember a few weeks ago, when there was a thread or two on here discussing the big increases in property taxes?

Well, landlords got those tax increase notices, too. And they are passing along the increased cost to their tenants, in the form of higher rent.
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Old 06-01-2015, 04:18 PM
 
Location: New Braunfels, TX
6,280 posts, read 9,054,776 times
Reputation: 6392
Quote:
Originally Posted by Bo View Post
Remember a few weeks ago, when there was a thread or two on here discussing the big increases in property taxes?

Well, landlords got those tax increase notices, too. And they are passing along the increased cost to their tenants, in the form of higher rent.

I also remember those saying "We need to do XYZ - it's the forward-looking thing to do!"

And a few of us asking how it was going to be paid for.......now you know.
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Old 06-01-2015, 05:09 PM
 
1,882 posts, read 2,328,411 times
Reputation: 3395
Sooo...when does my salary catch up to the rising prices of these "improvements" ?
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Old 06-01-2015, 05:48 PM
 
Location: San Antonio. Tx 78209
2,651 posts, read 6,527,946 times
Reputation: 1735
Quote:
Originally Posted by Bo View Post
Remember a few weeks ago, when there was a thread or two on here discussing the big increases in property taxes?

Well, landlords got those tax increase notices, too. And they are passing along the increased cost to their tenants, in the form of higher rent.
There was no increase in the tax rate, what did increase was the value of the property and most properties were probably vastly undervalued in the past.
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Old 06-01-2015, 05:56 PM
 
1,515 posts, read 1,559,786 times
Reputation: 1292
Quote:
Originally Posted by txtea View Post
Sooo...when does my salary catch up to the rising prices of these "improvements" ?
When you ask for a raise.
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Old 06-01-2015, 06:00 PM
 
9,012 posts, read 8,327,931 times
Reputation: 14436
Rents are ridiculous everywhere....
$250 really is too much of an increase though.....
You should move if possible A S A P
At least you're in beautiful Texas, though

I just had to make the choice of renewing for another year here w/ no increase,
Or doing a short term renewal for $75 increase, or going month to month at $150 increase per month.

Paying $780 for a ridiculously small studio (or as I refer to it, the closet)


I can't stand renting!
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Old 06-02-2015, 11:32 AM
 
12 posts, read 13,586 times
Reputation: 20
Quote:
Originally Posted by smuboy86 View Post
There was no increase in the tax rate, what did increase was the value of the property and most properties were probably vastly undervalued in the past.
That's a very simplistic way to look at how BCAD appraises properties in SA. According to the local news here, an increase in taxes is a GOOD thing because it signals that property prices are going up. But until you look more closely, you don't realize that BCAD essentially raises rates when it thinks it can get away with it (i.e. in a 'good' economy) and largely irrespective of the true market value.

In short, don't assume market values have gone up just because BCAD is raising taxes across the board.
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Old 06-02-2015, 11:56 AM
 
Location: San Antonio, Texas
905 posts, read 1,362,054 times
Reputation: 592
A friend of mine lives at the Marquiz on the corner of Bitters and Huebner. She was paying $950.00 plus $100.00 for a garage. Her lease just expired. To re-new an 8 month lease her rent would jump to $1200. She decided to go month to month at $1300 until she decides what she wants to do. That's a lot of money for a 1 bedroom apartment.
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Old 06-02-2015, 12:31 PM
 
Location: New Braunfels, TX
6,280 posts, read 9,054,776 times
Reputation: 6392
Wow.....that IS a lot. As noted - when you're in THAT kind of monthly cost, you might as well buy a place! It's market driven, though - if enough folks move, they'll drop rents again. If enough grumble and stay, it's gonna stay there. Simple business economics.
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