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Old 06-19-2011, 09:59 PM
 
143 posts, read 409,611 times
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Anyone's noticed?
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Old 06-19-2011, 10:18 PM
 
14 posts, read 40,671 times
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I'm looking at apartments currently and rent is high right now but that typically happens in the spring early summer. Around fall and winter the rent drops again. This is what I've found everywhere but especially when I'm moving around in Chicago. That said, rent also fluctuates depending on popularity of the neighborhood. For example, rent is going up right now in Pilsen which will probably be more long term than just the normal seasonal rent changes.
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Old 06-20-2011, 02:19 AM
 
Location: Chicago
38,704 posts, read 95,660,877 times
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I haven't done enough classified browsing to know what rent trends are like but my rent hasn't been raised in 4 years.
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Old 06-20-2011, 06:55 AM
 
Location: Uptown
1,520 posts, read 2,365,336 times
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Quote:
Originally Posted by Drover View Post
I haven't done enough classified browsing to know what rent trends are like but my rent hasn't been raised in 4 years.

Places would be foolish to raise rents on long term tennants right now and risk driving them off and having to scramble to fill the room.

Rents city wide seem to be on the upswing, especially large managed buildings who are aware of the difficulties to attain financing to buy looking to take advantage of people, especially in prime 'hoods. There are still deals out there from underwater condo owners as well.

I think we're in the early stages of a shift in the 20-35 or so age range where this crowd chooses to rent (usually in the often suggested hoods) instead of buy like their predecessors had. Cash buyers/investors will slowly scoop up properties that they can rent out for profit and rents will rise.
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Old 06-20-2011, 07:11 AM
 
Location: Chicago
437 posts, read 877,258 times
Reputation: 187
Mine went up $5.00. No increase last year.
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Old 06-20-2011, 07:35 AM
 
Location: Berwyn, IL
2,419 posts, read 5,804,802 times
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I tracked listing prices for spring/summer 2010 and spring/summer 2011. I found that *asking* prices were up. However, this was only a small sampling of neighborhoods (edgewater, andersonville, lincoln square, ravenswood.)

That being said, it was also many larger management companies as Stance Dance noted.
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Old 06-20-2011, 03:16 PM
 
Location: Canada
5 posts, read 5,619 times
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Quote:
Originally Posted by MannheimMadman View Post
...I found that *asking* prices were up.
Is there room to negotiate on rental prices - in Calgary you can negotiate on buying of course but renting is usually set in stone.
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Old 06-20-2011, 03:19 PM
 
13,450 posts, read 15,307,950 times
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Quote:
Originally Posted by BookLady6635 View Post
Is there room to negotiate on rental prices - in Calgary you can negotiate on buying of course but renting is usually set in stone.
Yes, you can negotiate rent here.
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Old 06-20-2011, 04:32 PM
 
Location: Chicago
1,950 posts, read 4,660,561 times
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I feel like it has gone up by quite a bit in the past 2 years, at least in areas I was looking at. 2 years ago I signed a lease in a building for 1500, just saw it on craigslist last month for $1700. Maybe I just got a deal
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Old 06-20-2011, 06:49 PM
 
6,347 posts, read 9,138,831 times
Reputation: 1791

YouTube - ‪The Rent Is Too Damn High Party Jimmy McMillan‬‏
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