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Old 05-31-2016, 01:24 PM
 
149 posts, read 181,247 times
Reputation: 105

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"Portland remained the 12th most expensive rental market in the nation in April, says a report released last week by Zumper, an online rental resource. The reports said the median price for one-bedroom apartments increased 0.8 percent since March to $1,340, while rent for two-bedroom apartments increased 0.6 percent to $1,620."

"The Pearl District continued to be the most expensive neighborhood to rent in Portland, with $2,200 being the median month’s rent for one-bedroom units, the report said. The next most expensive neighborhoods were downtown at $1,650, Old Town/Chinatown at $1,600, and Corbet/Terwilliger/Lair Hill at $1,450. More affordable neighborhoods, priced below $1,100, were in the far south and eastern portions of the city."

"A new report by the National Low Income Housing Coalition says Oregon has the 18th most expensive rents in the country, with the highest rents found in Multnomah County."

"According to the report, the average one-bedroom apartment in the county rents for $1,208. In order to afford that, a person would need to earn $40,840 a year. Those earning the state’s minimum wage of $9.25 an hour can afford to pay only $481 a month, the report says."

Portland home prices, rents continue to rise
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Old 05-31-2016, 04:32 PM
 
48 posts, read 54,662 times
Reputation: 40
Default Predatory Landlords

I've been reading about predatory landlords here in the Portland area the last year and took heed. Right on schedule we got notice today that the rent on our 3 bedroom apartment is going up to $1735 a month at the end of our lease in June. At the same time vacant 3 bedroom apartments with the same floor plan are being offered for $1485 a month. Apparently the theory is we're stuck and it would be too much cost and trouble to move so they can stick it to us. Fortunately we saw this coming and are closing on our new home tomorrow.
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Old 05-31-2016, 04:41 PM
 
3,928 posts, read 4,907,848 times
Reputation: 3073
Quote:
Originally Posted by patrick_m View Post
I've been reading about predatory landlords here in the Portland area the last year and took heed. Right on schedule we got notice today that the rent on our 3 bedroom apartment is going up to $1735 a month at the end of our lease in June. At the same time vacant 3 bedroom apartments with the same floor plan are being offered for $1485 a month. Apparently the theory is we're stuck and it would be too much cost and trouble to move so they can stick it to us. Fortunately we saw this coming and are closing on our new home tomorrow.
Congratulations!
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Old 05-31-2016, 04:47 PM
 
151 posts, read 233,215 times
Reputation: 332
Glad you got out Patrick. For others in that situation, know the new rules for rent hikes. They have to give 90 days notice now if the rent hike is steep enough.
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Old 05-31-2016, 06:25 PM
 
Location: SNA=>PDX 2013
2,793 posts, read 4,070,047 times
Reputation: 3300
I'm really not looking forward to seeing what the rents are come September when my current lease is up. It already went up $110 and I know it's low compared to what they're charging now. Ugh, so depressing. Wish I could buy, but that market is a joke. If I had been smarter, I would have bought when I first moved up here in 2013. At least things were affordable at the time. I'm just so shocked how prices have gone crazy in the 3 years I've been here (rent has gone up $600 at some of the apts I was looking at in 2013).
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Old 05-31-2016, 08:00 PM
 
Location: Syracuse, New York
3,121 posts, read 3,095,938 times
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In towns that are less transient, landlords have to compete with the idea of running a few miles back home home to mom and dad.
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Old 05-31-2016, 10:31 PM
 
48 posts, read 54,662 times
Reputation: 40
Default Predatory Property Management Agencies

Our realtor told us tonight that a property management agency was just caught taking $75 credit application fees from several families after it had already rented out the home they were applying for.

The dire rental market in Portland is drawing predators like blood in the water.
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Old 06-01-2016, 12:38 AM
 
Location: Portland, OR
9,855 posts, read 11,930,564 times
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Quote:
Originally Posted by psichick View Post
I'm really not looking forward to seeing what the rents are come September when my current lease is up. It already went up $110 and I know it's low compared to what they're charging now. Ugh, so depressing. Wish I could buy, but that market is a joke. If I had been smarter, I would have bought when I first moved up here in 2013. At least things were affordable at the time. I'm just so shocked how prices have gone crazy in the 3 years I've been here (rent has gone up $600 at some of the apts I was looking at in 2013).
I'm not waiting till I get notice. I've been watching the unit next to me sit vacant since the end of March. I saw it on Craig's for a full $100/mo. more than we pay. We have a garden and fireplace but in every other way that unit is exactly the same as ours. They have had to lower the price to what we are paying now but they still haven't got any takers. We're talking very close in NE. I'm not seeing the justification for year over year rent increases and I plan to be proactive about it. The longer that unit sits empty the stronger my case.
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Old 06-01-2016, 03:10 PM
 
48 posts, read 54,662 times
Reputation: 40
Quote:
Originally Posted by Leisesturm View Post
I'm not waiting till I get notice. I've been watching the unit next to me sit vacant since the end of March. I saw it on Craig's for a full $100/mo. more than we pay. We have a garden and fireplace but in every other way that unit is exactly the same as ours. They have had to lower the price to what we are paying now but they still haven't got any takers. We're talking very close in NE. I'm not seeing the justification for year over year rent increases and I plan to be proactive about it. The longer that unit sits empty the stronger my case.
That's what I thought when I saw three 3-bedroom apartments open for the last two months in our complex. When I gave notice yesterday though the apartment manager's attitude was 'well, what if I am trying to charge you $250 more a month than I'm asking for the same floorplan for those three vacant apartments? There's the cost and labor of moving and you only have a month to find another apartment.'
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Old 06-01-2016, 06:54 PM
 
Location: SNA=>PDX 2013
2,793 posts, read 4,070,047 times
Reputation: 3300
Quote:
Originally Posted by Leisesturm View Post
I'm not waiting till I get notice. I've been watching the unit next to me sit vacant since the end of March. I saw it on Craig's for a full $100/mo. more than we pay. We have a garden and fireplace but in every other way that unit is exactly the same as ours. They have had to lower the price to what we are paying now but they still haven't got any takers. We're talking very close in NE. I'm not seeing the justification for year over year rent increases and I plan to be proactive about it. The longer that unit sits empty the stronger my case.
What are you planning on doing? Using it to keep your rent down? I'm just curious.

I know where I live, it's a big corporation that owns the building, so there is never any "leeway" in anything they do. They'll be "sad" to see me go, but they'll hold the door open so I can leave. Bleah. Good luck.

Oh jeez. I just looked at the rent for the one available unit like mine, with a crappy location. It's $375 more than what I'm currently paying. I am going to have to move to the ghetto at this rate. Um, where is the ghetto?

Unfortunately, there's always one unit available, maybe two. We're always full. I have no leeway and there is no way I'm going to pay almost $1400 for a one bedroom where I live. That's crazy!
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