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Old 09-05-2010, 10:49 AM
 
24 posts, read 94,748 times
Reputation: 15

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Hi, I'm trying to get some feedback on lease renewal rent increases set by corporately owned apartment companies here in Atlanta.

Is it me or a $100+/~20% month increase after staying with a corporately owned rental unit seem a bit far fetched?

I'm nearing the end of my first lease, and I have received a personalized letter talking about renewal options after our first year. If I chose to stay, I would be paying well over $150/month for another 12 month lease over my previously negotiated and set rate. The rates are even more for less than 12 month extensions.

These are the Archstone owned apartments.

Please let me know what I need to consider here - I would have thought a 5-10% increase would have been the "norm". i.e. $35-75/month more - but over a $100??

I'm not sure what the current and future market rates are or how they are calculating that but if anyone can shed some light on that - that would be awesome. I just wanted to have an idea from some of y'all before I called them up.



Thanks.

Last edited by sirscrubsalot; 09-05-2010 at 11:00 AM..
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Old 09-07-2010, 07:59 AM
 
24 posts, read 94,748 times
Reputation: 15
what's up - hoping someone might be able to chime in on similar situations or anything else relevant to these types of renewal hikes... needed to take care of this within the week thanks!
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Old 09-07-2010, 08:35 AM
 
9,124 posts, read 36,367,911 times
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Well, you're willing to accept a $75/month increase, so we're really talking about the additional $75/month, or $900 over the course of the next year. So the big question is, what's it worth to you to have to find a new place, pack up all your crap, re-do services (water, cable, etc), change your address, etc.? That's not worth the $900 to me.

Yeah, the situation sucks, but they've got you by the short hairs because they know that moving is a royal PITA.
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Old 09-07-2010, 06:27 PM
 
24 posts, read 94,748 times
Reputation: 15
Right, thanks for replying but I was talking about price markups of more than 20% - a little over $150/month extra for a 12-month lease renewal. I've never heard of such a a thing and wanted to verify with others here. Basically I would be paying more than $1600 more for that year extra....

btw - were you Hungarian?
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Old 09-12-2010, 04:26 PM
 
24 posts, read 94,748 times
Reputation: 15
hey everyone - still looking for some feedback - thanks!
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