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Yeah, on paper, that sounds like a good excuse by management. However, part of the selling point for a particular building/unit/house and price point are the amenities. I doubt that many people would pay a certain rent just to live in a building if the building didn't contain certain amenities available to them, especially relative to the competition.
Now, as I mentioned, I get that amenities being closed are really out of management's hands and a safety precaution, but that's still services that you're paying for that you're not able to use. If not concessions, at least no rental increase I say!
Completely agree. We’re paying rent for the whole package. We did get some concessions but I don’t understand the places that basically say “too bad”.
Yeah, on paper, that sounds like a good excuse by management. However, part of the selling point for a particular building/unit/house and price point are the amenities. I doubt that many people would pay a certain rent just to live in a building if the building didn't contain certain amenities available to them, especially relative to the competition.
Now, as I mentioned, I get that amenities being closed are really out of management's hands and a safety precaution, but that's still services that you're paying for that you're not able to use. If not concessions, at least no rental increase I say!
At least in my area, most complexes are offering new renters significant incentives to lease- one month free, two months free, significantly reduced rates + no deposit/hold fee. It seems short-sighted for complexes to say “You’re here, too bad” to people renewing when they’re likely to find other (possibly better) places for a comparable price.
FWIW, I think on my floor, something like 5-6 out of the 10 of us here have moved out since the construction started, and my lease ends in August. I understand that complexes have to make money, but what is happening here is unacceptable and they have done almost nothing to make things better for us, like waiving the parking charge or giving us concessions for no balcony/patio for 6-7 months. That IS a legitimate part of the apartment that we have paid for, and they literally put a message up on our doors the day before the construction started. It’s doubtful people would have renewed at increased rates knowing what we know now.
The manager of our complex sent out an email stating the 'covid-19 issue' is not a reason to stop paying rent, and they expect every tenant to pay their full rent amount on time. It also stated to contact the office if one's financial issues would prevent full payment to discuss what arrangements may be worked out.
About a decade ago when it was time to renew an annual lease incentives were offered; however, that option no longer exists.
I have moved into my new apartment and am settling in nicely.
I checked out my old apartment complex website and see that my old unit is still available to move in (I guess not a shocker as I moved out only last week). And at a rate of $1,733 (so less than $30 a month more than what I was paying under the old lease) for a 12 month lease, and $1,560 for a 13 month lease. Had a similar 13 month lease option been offered to me, I would have almost certainly stayed in the unit; hell, if they made a modest increase on a 12 month lease, I likely would have stayed.
Instead, I got quoted an insane percentage increase and now the apartment sits empty. And the management company has to spend money to not only advertise the unit but to thoroughly clean the unit in between occupants (a necessity generally, but especially during these covid times).
I honestly think my old LL thought that I would just eat the increase and wouldn't move due to covid, which was a major miscalculation on their part if so.
Browsing my old complex's website, I see that there are 17 apartments that are available now (WAY more than what I thought and way more than was the case when I moved in last year) and another 38 that will become available over the next 1-2 months. Not that I'll ever know, but it wouldn't shock me if a significant number of the current and pending vacancies are an issue due to unreasonable rent increase.
Note, to better understand the insanity of my old management company, one of my old neighbors moved downstairs to a new unit (same identical layout) as the management company wouldn't budge on its quoted increase for her old unit. But she was able to get the new unit for considerably less; and her old unit sat empty for a while, too. There are no elevators either btw, so units on the lower levels are generally more expensive than units on the upper levels. There is something to be said about standard rent increases, but something completely different to be said about incompetence.
I'll be checking back in occasionally to see how long it will take to rent out my old unit.
Are you new to the area? Those managed buildings around there always do this BS; they jack up the rent each lease renewal, hoping you pay it because too unmotivated to move, while offering discounts to new tenants, lol. Even better rip off are the shared utility costs, and they tack a surcharge for doing it.
I have moved into my new apartment and am settling in nicely.
I checked out my old apartment complex website and see that my old unit is still available to move in (I guess not a shocker as I moved out only last week). And at a rate of $1,733 (so less than $30 a month more than what I was paying under the old lease) for a 12 month lease, and $1,560 for a 13 month lease. Had a similar 13 month lease option been offered to me, I would have almost certainly stayed in the unit; hell, if they made a modest increase on a 12 month lease, I likely would have stayed.
Instead, I got quoted an insane percentage increase and now the apartment sits empty. And the management company has to spend money to not only advertise the unit but to thoroughly clean the unit in between occupants (a necessity generally, but especially during these covid times).
I honestly think my old LL thought that I would just eat the increase and wouldn't move due to covid, which was a major miscalculation on their part if so.
Browsing my old complex's website, I see that there are 17 apartments that are available now (WAY more than what I thought and way more than was the case when I moved in last year) and another 38 that will become available over the next 1-2 months. Not that I'll ever know, but it wouldn't shock me if a significant number of the current and pending vacancies are an issue due to unreasonable rent increase.
Note, to better understand the insanity of my old management company, one of my old neighbors moved downstairs to a new unit (same identical layout) as the management company wouldn't budge on its quoted increase for her old unit. But she was able to get the new unit for considerably less; and her old unit sat empty for a while, too. There are no elevators either btw, so units on the lower levels are generally more expensive than units on the upper levels. There is something to be said about standard rent increases, but something completely different to be said about incompetence.
I'll be checking back in occasionally to see how long it will take to rent out my old unit.
Yeah it doesn’t make sense that these management companies aren’t doing much to keep current tenants. I moved out of my apartment last week, but my official move out date isn’t until this Saturday. I saw a few other people moving out last week too. It was crazy.
Meanwhile, the balcony project started in November finally finished last month. The sidewalks, torn out either in late April or early May have still not been put back in. The dumpster and trash is still in front of the building. It looks really messy/disreputable with all the debris still in front of most of the first floor patios. They still need to do functional updates to the buildings like putting in doors/locks to the main doors that actually work right (the door handles fall off, keys don’t come out of the locks, the closing mechanisms fall off, one door never closes at all), putting in more efficient windows, and putting in new ACs, as some are over 30 years old.
Yeah it doesn’t make sense that these management companies aren’t doing much to keep current tenants. I moved out of my apartment last week, but my official move out date isn’t until this Saturday. I saw a few other people moving out last week too. It was crazy.
Meanwhile, the balcony project started in November finally finished last month. The sidewalks, torn out either in late April or early May have still not been put back in. The dumpster and trash is still in front of the building. It looks really messy/disreputable with all the debris still in front of most of the first floor patios. They still need to do functional updates to the buildings like putting in doors/locks to the main doors that actually work right (the door handles fall off, keys don’t come out of the locks, the closing mechanisms fall off, one door never closes at all), putting in more efficient windows, and putting in new ACs, as some are over 30 years old.
It really is mind-boggling.
Interestingly enough (and somewhat ironically), while the common thought process may be that people may be less willing to move due to covid (and so just eat any rent increase), I think that many people have been able to save money during covid and, thus, may be even more willing and able to move now. For those still employed, many are teleworking and saving money on transportation costs and on eating out. Then we had the enhanced federal unemployment benefits, which left quite a few people better off than if they were working at their actual jobs.
I'd be going out of my way to keep my tenants happy these days (particularly those tenants who pay on time and don't cause problems), especially since non-eviction rules are still in effect throughout the country and there still are many people out of work, so if you get a bad tenant you may be screwed.
Thanks! Mine started off being $1135/mo + utilities & $45/mo pet rent since I had a dog the first few yrs. My rent's now $1733/mo & utilities = about $1805.
Enjoy your new apt!
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