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Old 10-31-2011, 09:30 AM
 
572 posts, read 2,017,251 times
Reputation: 341

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There is control over the situation...and it is within the tenants full control. They have the option to move to a different rental that is less expensive.

Just because I only get a 5% salary increase why should someone else not be able to rent out a unit for the market value? Also, for those of us that own, we can not go to the tax assessor and say but township, you can't raise my taxes because my raise did not cover the difference.

Give me a break. If you don't want to pay the rent then get out of the unit and go somewhere that is more within your budget.

Quote:
Originally Posted by Nfer1 View Post
Let me ask a different question:
For normal working people, how much salary increase is there in a year? 1% , 5% , 15% ? - usualy its around 1 - 5%

NOw, if everthing else appreciates by 15% how are you supposed to pay that?

if one side - landlord / tenant has complete control over the situation , with no laws in place to protect other , there is going to be a problem.
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Old 10-31-2011, 09:39 AM
 
11 posts, read 39,688 times
Reputation: 26
hmm ..seems like a lot of landlords on this forumn did i touch a nerve?

you guys are all the same

like the newport rental management i suppose. they have a very pretty "sales" office that will give u months free n entice you to rent out - once you do, they have nothing to do with you.

any issues after that you deal with the business end the "rental management" office - where i might add you are treated very differently.

say , by any chance ,do you landlords have the JC Rent Leveling Board number? or do i have to google it myself and call.
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Old 10-31-2011, 09:42 AM
 
Location: NJ
17,574 posts, read 46,030,185 times
Reputation: 16271
I am not a LL. I have been a renter in the past. Clearly you are just upset that people don't agree with you. There is a reason for that. But I guess it is far easier to just throw out baseless claims that to actually defend your point.
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Old 10-31-2011, 09:45 AM
 
11 posts, read 39,688 times
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No, im just presenting "a" point of view (my point of view) - and i feel i have a valid case.
if no one else agrees, thats fine; however, i know of many who do.
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Old 10-31-2011, 09:51 AM
 
Location: NJ
17,574 posts, read 46,030,185 times
Reputation: 16271
Quote:
Originally Posted by Nfer1 View Post
No, im just presenting "a" point of view (my point of view) - and i feel i have a valid case.
if no one else agrees, thats fine; however, i know of many who do.
Not agreeing with others is fine. But when you throw out "you must all be LLs" it really makes it hard to take you seriously.

Question for you. With the price increase how is your aparment priced compared to similar apartments?
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Old 10-31-2011, 09:59 AM
 
11 posts, read 39,688 times
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i would say with the proposed increase, for the same area and building type (old 20yr+ ) its about 150 - 200 on the high side.

A more glaring statistic from my point of view is that for the same area and building type the percentage increase for most is in the 2-7% range yearly. i can imagine i got unlucky 1year - but two consecutive years in a row?
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Old 10-31-2011, 10:02 AM
 
13 posts, read 34,966 times
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The laws in NJ in general favor the tenants. Landlords can be as greedy as they want however there are laws to prevent landlord abuse. Good luck I hope you have a case.
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Old 10-31-2011, 10:08 AM
 
Location: NJ
17,574 posts, read 46,030,185 times
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Quote:
Originally Posted by Nfer1 View Post
i would say with the proposed increase, for the same area and building type (old 20yr+ ) its about 150 - 200 on the high side.

A more glaring statistic from my point of view is that for the same area and building type the percentage increase for most is in the 2-7% range yearly. i can imagine i got unlucky 1year - but two consecutive years in a row?
I think you are focusing on the wrong thing. The only thing that should matter is the price vs. other places. If you have had big increases for two years and are saying the price is only 150-200 over similar places it tells me you probably got lucky and didn't pay enough in year 1.

Should a LL be punished for offering a good deal in year 1?
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Old 10-31-2011, 10:34 AM
 
50,339 posts, read 35,975,050 times
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Quote:
Originally Posted by Nfer1 View Post
Market determines rent? really?
Have you seen the buildings in newport lately? almost eevery floor of every building has a few apartments vacant for long periods of time.

the newport rental agency is creating a false value.

also quite a few of the buildings are over 20years old, so they are not exactly great places to live - just that the location is very good.
Ironically if they have a lot of empty units, they increase rent to those left to try to make up the difference in the revenue losses, just to keep everything running. Suze Orman warned people who called wanting to buy a very cheap condo in a complex with many empty units (Fla I think) that the condo fees would most likely rise a lot to make up for the empty units not paying.
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Old 10-31-2011, 10:38 AM
 
Location: NJ
17,574 posts, read 46,030,185 times
Reputation: 16271
Quote:
Originally Posted by ocnjgirl View Post
Ironically if they have a lot of empty units, they increase rent to those left to try to make up the difference in the revenue losses, just to keep everything running. Suze Orman warned people who called wanting to buy a very cheap condo in a complex with many empty units (Fla I think) that the condo fees would most likely rise a lot to make up for the empty units not paying.
And who are these people who would pay this increase and not move? Doesn't make any sense to me.
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