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Old 10-20-2007, 05:16 PM
 
3 posts, read 11,932 times
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I just got notice my rent would be going up nearly 25%! I called the central office to see if it was a mistake, or a joke. This kinda increase is like a slap in the face, then a punch in the gut.
I just moved here from San Francisco a year ago, and that wouldn't happen even there.
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Old 10-20-2007, 05:17 PM
 
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Did you get a "deal" going in?

Many landlords do this hoping you'll stay after the first lease is done.
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Old 10-20-2007, 05:34 PM
 
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I'm pretty sure they can raise your rent whoever much they want - doesn't matter who you are
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Old 10-21-2007, 08:05 AM
 
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People have to live somewhere and not everyone wants to live everywhere and will pay to do so. Houses in the right school district with no renters in the area will sell for their exclusiveness. As one poster said people from elsewhere relocating to CARY may want a level of exclusiveness with the right school. If the apartment complex is in the area that the right school services they can get more for that unit. Water/Affluence or the lack of will find its level and the price of that level will reflect it. You may rejoice if the rate increase raises the affluence of your neighbors.
Then on the other hand you may be offended by my thoughts and seek to find an apartment with affordability for all.
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Old 10-21-2007, 08:37 AM
 
3,353 posts, read 4,939,273 times
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Quote:
Originally Posted by Unrepped View Post
I just got notice my rent would be going up nearly 25%! I called the central office to see if it was a mistake, or a joke. This kinda increase is like a slap in the face, then a punch in the gut.
I just moved here from San Francisco a year ago, and that wouldn't happen even there.
Wow! That's huge...I wonder if the property was sold to someone else?
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Old 10-21-2007, 10:50 AM
 
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Originally Posted by scorp200 View Post
Wow! That's huge...I wonder if the property was sold to someone else?
Nope, still Camden Manor Park. I mean, I understand that I got a good deal when I moved in a year ago b/c they were trying to fill the brand new units, but the complex as a whole has been there about two and a half years. And I don't care what the case is, a 24.6% increase in rent is unconscionable. If they were going to raise it so egregiously, they never should've offered such a low initial special. It's unfortunate NC doesn't have rent control laws like California does in some cities.

When I talked to the management, they said it was out of their hands and based on calculations and current rent trends. Somehow, I doubt a 25% increase is a trend going around here. Be upfront at the beginning, don't shaft a current tenant. Screw Camden. I'll never recommend them to anyone.
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Old 10-21-2007, 11:03 AM
 
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When you get a deal coming in, you need to understand that the deal is an incentive to lure new residents and is for one year only.

Since there are many apts around, the market self-polices here. In NYC, I was under rent stabilization which was needed because of the shortage of available apartments.

Our rent increase was under 5% this year - reasonable in view of taxes, etc.
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Old 10-21-2007, 12:11 PM
 
76 posts, read 393,042 times
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Quote:
Screw Camden. I'll never recommend them to anyone.
Oh no, Camden. I am sorry.
This is not the first time I have heard such shady practices by Camden properties. I would move immediately and put them behind you.
Just an FYI:
*Watch out for when you move out, they might try to take your deposit.
*Also be sure you have a copy of your lease , they might try to allege you are breaking it early when you give your 30 days.

Good luck.
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Old 10-21-2007, 12:33 PM
 
3,353 posts, read 4,939,273 times
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[quote=saturnfan;1789545]When you get a deal coming in, you need to understand that the deal is an incentive to lure new residents and is for one year only.

QUOTE]

Yikes, you know I never thought of this - I don't live in a Camden but I need to check that out. At the very least I'll want to change units (I live under Big Foot and Bride of Big Foot).
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Old 10-21-2007, 11:54 PM
 
3 posts, read 11,932 times
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Originally Posted by saturnfan View Post
When you get a deal coming in, you need to understand that the deal is an incentive to lure new residents and is for one year only.
Well, here's the kicker: my initial lease was for 6 months only. Then, when the 6 months expired, I signed on for another 6 months with only a nominal (~5%) increase in rent. However, now that I've been living here a year (under concurrent, separate leases, mind you), the rent goes up a whopping 25%? I mean, I hate to belabor the point, but I've never, ever heard of any manager increasing the rent that much for an existing tenant. It's the very definition of ludicrous. To be honest, I had a good experience living in Camden...until last Thursday when I got a cheerful notice of opportunity for renewal at the new, inflated price. Never again.
If Camden treats their current tenants like this, they can expect a turnover rate of >60%, in which case the units will look like garbage in just five years. Have fun with that, Camden. I've heard it's already happening with the older buildings here at Manor Park, and they're only about 30 months old.
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