Rents Are Roaring Back in New York City (Albany: low income, rental)

[Gilmoregal]

Originally Posted by TheaterFan

I share a 2BD Manhattan apartment with a roommate and the rent has gone from $2400 to $3900, effective 6/1. I do not understand why the state allows landlords get away with this. This could never happen in California

This has happened in California, especially San Fran. Right now a bunch of ppl from L.A are flooding to Vegas due to rent increases. Most of the new home owners now in Vegas are from Cali. Its bad all over

[TheaterFan]

Originally Posted by Gilmoregal

This has happened in California, especially San Fran. Right now a bunch of ppl from L.A are flooding to Vegas due to rent increases. Most of the new home owners now in Vegas are from Cali. Its bad all over

You are incorrect. California has caps on percentage increases. As should every city/state.

[BugsyPal]

Originally Posted by TheaterFan

You are incorrect. California has caps on percentage increases. As should every city/state.

State wide law in CA sets "caps" at increase rent by more than 5% plus inflation as measured by the Consumer Price Index, or 10% which ever is lower.

You have people in New York moaning about 2% increase in rent.

[Gilmoregal]

Rent has hiked 6.7% in Oakland, CA :https://www.nbcbayarea.com/news/loca...0and%20weather.

It sucks everywhere

[Marshabrady]

Originally Posted by BugsyPal

State wide law in CA sets "caps" at increase rent by more than 5% plus inflation as measured by the Consumer Price Index, or 10% which ever is lower.

You have people in New York moaning about 2% increase in rent.

Yeah my bff was just told hers was going up 10%. She will have to sign a new lease, as $$$ as it is, her area in CA has low inventory….

[BugsyPal]

Originally Posted by Marshabrady

Yeah my bff was just told hers was going up 10%. She will have to sign a new lease, as $$$ as it is, her area in CA has low inventory….

IIRC individual areas of CA can set lower caps, but not sure how that works.

[babyx0130]

Originally Posted by BritinNYC

Oooh, ML! That is awesome

It is! And the process was quick and "easier".

[someoneinqueens]

https://www.youtube.com/watch?v=vXaPPnr5z9g

[linamonroll]

Originally Posted by someoneinqueens

https://www.youtube.com/watch?v=vXaPPnr5z9g

Wow, crazy that the average studio rent is higher than the average 1br? Maybe there is so much demand because they're "cheaper" but the demand is pushing those rents to actually be higher? For the same rent I can't think of any reason someone would want a smaller + less private apartment unless there are more studios in more desirable (expensive) areas, on average? Strange.

[TheaterFan]

Originally Posted by Marshabrady

Yeah my bff was just told hers was going up 10%. She will have to sign a new lease, as $$$ as it is, her area in CA has low inventory….

10% is nothing; my NY apartment went up over 60%. States that care about their residents don't allow this despicable treatment.