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A few months ago my Northgate Seattle apartment building got a new manager. Since this new apartment manager took over my apartment building currently has over 10 empty units. Under the old property manager there was 1-2 apartments vacant and they rented out within a few days of being posted available. These 10 plus apartment units in my building have been vacant since October under supervision of this new property manager. This new property maneger keeps raising the rents bigtime. For example I pay $1200 a month for a 1 bedroom 610 square feet apartment. The apartment next to mine that has been vacant since October she is asking $1450 per month for a 1 bedroom 610 square feet apartment like mine. In my building 2 bedroom apartments used to be $1450 per month but when this property manager took over she is now asking $1700 for a 2 bedroom apartment that can't be rented because since October these units are sitting vacant.
I'm locked into paying $1200 a month until my lease ends in August 2017. This new property manager also took away the 3 day grace period of paying rent on the 3rd or 4th or the month. Now rent has to be paid on the 1st of the month or before the 1st. She sent a threatening notice to every tenant in the building that if rent is late she will access a $100 late for and serve tenants with an eviction notice.
I really don't like this new manager at all. Even though its 9 months away I'm concerned that in August 2017 I will be priced out of my current apartment.
This building was built in 1987 and isn't worth $1500 for a one bedroom in northgate. Some of the newer apartment buildings in Northgate have cheaper apartment rates than my 1987 built building. It doesn't make sense. Many of my former neighbors have moved to Lynnwoood because this manager raised their rent and she wouldn't negotiate with them.
Unfortunately I need to live in Northgate because of the great public transit options in Northgate. I also don't have cable tv and use a rabbit ears for tv reception. In Lynnwood you need to pay for cable tv because you cant get tv reception over the air. If I owned a car and was willing to pay for cable tv I would consider looking into buying a condo or signing another apartment lease in August 2017 in Lynnwood.
The old property manager who managed this building was manager for 8 years. She never raised tenants rents over the years.
What do other citi data people think about this?
Last edited by annonymous0381; 12-12-2016 at 01:36 AM..
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Normal and common. When a landlord has not raised rent for several years, the new one will almost always get it back to current market rates, and the other measures are also common, in the high demand market. Your one bedroom at $1,500 is still below the average for Seattle, now at over $1,600. The 10 vacancies is puzzling, unless something is going on in the area that turns people off, there are a lot of people (posters here too) that would love to get a 1 bedroom for $1,450.
Yes , I moved last January after being priced out of EVERETT . We held on 3 years until what had been $750 2-1 was now $1400 not including utilities and parking which doubled exactly or $1800 if I went month to month this was with my multi year discount too , Hemlock is right someone else we knew from work lived in the same complex , was new and paid MORE that $1400 for a 1-1 he is back in Miami now . Like your complex mine was rarely empty but when we did leave the maintenance man told us that with us the complex was nor 55% vacant .. so IDK what the thinking is I have also been reading that even though rents are rising like crazy in the region there is also quite a bit of vacancies.
Now I am probably going to have to move again this January after I just received notice of a 14% increase in my rent and my husband got laid off last Monday. I LOVE this apt too and hate to lose it but we just have no choice. My high schooler is freaking out but I am not going to be stuck homeless here or move to a worse place. It's just not worth it anymore and we don't have any family or ties here . This complex has a ton of vacancies too and every weekend now I see a minimum of 3 u-hauls or semi pro mover's moving people out .
Last edited by DutchessCottonPuff; 12-12-2016 at 07:44 AM..
Well, if you're able to lock in your housing costs and protect your ability to live in your preferred area of domicile, then looking seriously at purchasing a condo is certainly an option. I don't think you have to worry about depreciation long term, given that light rail to Northgate is only six years away, although you could possibly see a short-term dip. Northend rents (say, north of 85th) are sensitive to Boeing layoffs, as are also rents in Kent, Auburn, and Renton, for instance. Consider buying out your current lease as simply part of the cost of buying/moving.
Bringing rents up to "market" levels, of course, is skewed to the top-side, in that new supply is inordinately being added at the top of the market, often replacing currently "affordable" housing, driving up average rents. Once raised, rents are sticky downwards - landlords would rather provide move-in "specials" rather than actually lower rents. Raising rents while demand looks to be slackening (increased vacancies) simply shows how perverse averages can sometimes be.
Requiring rents to be paid by the first is, in my opinion, discriminatory against seniors, in that Social Security isn't paid until the third.
Yes , I moved last January after being priced out of EVERETT . We held on 3 years until what had been $750 2-1 was now $1400 not including utilities and parking which doubled exactly or $1800 if I went month to month this was with my multi year discount too , Hemlock is right someone else we knew from work lived in the same complex , was new and paid MORE that $1400 for a 1-1 he is back in Miami now . Like your complex mine was rarely empty but when we did leave the maintenance man told us that with us the complex was nor 55% vacant .. so IDK what the thinking is I have also been reading that even though rents are rising like crazy in the region there is also quite a bit of vacancies.
Now I am probably going to have to move again this January after I just received notice of a 14% increase in my rent and my husband got laid off last Monday. I LOVE this apt too and hate to lose it but we just have no choice. My high schooler is freaking out but I am not going to be stuck homeless here or move to a worse place. It's just not worth it anymore and we don't have any family or ties here . This complex has a ton of vacancies too and every weekend now I see a minimum of 3 u-hauls or semi pro mover's moving people out .
I hope you find another apartment to move into. I hope it works out for you. These landlords are too greedy sometimes
My view is that the rental market is going to turn soon and either be flat or see modest decreases in average rents. This view isn't held by many but there are local economists predicting such a thing and if you look nationally only a few cities have avoided this in the last year as new apartments come online in large numbers and tenants ability to pay increased rates is tested.
I've also noticed landlords are getting more and more aggressive with their rental rates (and the pricing of for sale real estate as well), mean while the gap between income growth and rent/home price growth continues to widen, a sure sign that it has to correct at some point based on past history. Of course if people continue to move here in large numbers like we saw last year that could be delayed for quite some time.
Also consider if they didn't raise rents for 8 years they are well overdue and the market will likely support an increase. The amount of rent they charge dictates how much an apartment building is worth if they want to sell.
Yep, I'm sorry. This happened at a complex across the street from my condo. We rented there for five months and we had damn good service... we were able to get one of the best units, negotiated the rent down a little (we leased in January) and when we bought our condo we were able to brake lease very easily (no extra charges) and even got nearly all our deposit back!
Times have changed...
First of all, there was a tremendous upswing in rental and home prices right as we were moving (early 2012). The rental management was happy to see us go and made it easy and basically free because they could charge a higher price on the next tenant.
Then there was a turnover in the management. Tenants loved the old crew, but these newer people sound just like what you're experiencing. We had the same group of neighbors since we moved in five years ago.. one left this summer another left last week and the other one is planning to leave. We all started around $1850 for 3 bedroom townhouse and now they are paying $2500 and it's supposed to go up another 10% when they renew.
A few months ago my Northgate Seattle apartment building got a new manager. Since this new apartment manager took over my apartment building currently has over 10 empty units. Under the old property manager there was 1-2 apartments vacant and they rented out within a few days of being posted available. These 10 plus apartment units in my building have been vacant since October under supervision of this new property manager. This new property maneger keeps raising the rents bigtime. For example I pay $1200 a month for a 1 bedroom 610 square feet apartment. The apartment next to mine that has been vacant since October she is asking $1450 per month for a 1 bedroom 610 square feet apartment like mine. In my building 2 bedroom apartments used to be $1450 per month but when this property manager took over she is now asking $1700 for a 2 bedroom apartment that can't be rented because since October these units are sitting vacant.
I'm locked into paying $1200 a month until my lease ends in August 2017. This new property manager also took away the 3 day grace period of paying rent on the 3rd or 4th or the month. Now rent has to be paid on the 1st of the month or before the 1st. She sent a threatening notice to every tenant in the building that if rent is late she will access a $100 late for and serve tenants with an eviction notice.
I really don't like this new manager at all. Even though its 9 months away I'm concerned that in August 2017 I will be priced out of my current apartment.
This building was built in 1987 and isn't worth $1500 for a one bedroom in northgate. Some of the newer apartment buildings in Northgate have cheaper apartment rates than my 1987 built building. It doesn't make sense. Many of my former neighbors have moved to Lynnwoood because this manager raised their rent and she wouldn't negotiate with them.
Unfortunately I need to live in Northgate because of the great public transit options in Northgate. I also don't have cable tv and use a rabbit ears for tv reception. In Lynnwood you need to pay for cable tv because you cant get tv reception over the air. If I owned a car and was willing to pay for cable tv I would consider looking into buying a condo or signing another apartment lease in August 2017 in Lynnwood.
The old property manager who managed this building was manager for 8 years. She never raised tenants rents over the years.
What do other citi data people think about this?
From what I can tell in regards to late fees, she has to follow this.
Late fees.
Any late fee charged by the owner shall be provided for in the rental agreement. No late fee shall be collected unless it is written in the rental agreement or as an addendum to such agreement. An owner may impose a reasonable late fee for each month an occupant does not pay rent when due. A late fee of twenty dollars or twenty percent of the monthly rental amount, whichever is greater, for each late rental payment shall be deemed reasonable, and shall not constitute a penalty.
From what I can tell in regards to late fees, she has to follow this.
Late fees.
Any late fee charged by the owner shall be provided for in the rental agreement. No late fee shall be collected unless it is written in the rental agreement or as an addendum to such agreement. An owner may impose a reasonable late fee for each month an occupant does not pay rent when due. A late fee of twenty dollars or twenty percent of the monthly rental amount, whichever is greater, for each late rental payment shall be deemed reasonable, and shall not constitute a penalty.
Seattle is now San Francisco lite. Nasty traffic, rents and home prices soaring the roof....etc. Portland is now San Francisco lite number 2. Guess its time to start thinking about places like Branson, MO, Gatlinburg TN, and etc....paradise is no longer affordable.
Last edited by folkguitarist555; 12-12-2016 at 05:25 PM..
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