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In Seattle it's become SOP for landlords to increase rent by 5% every time a lease expires or tenant moves out. This shit is not sustainable.
I wish my rent went up 5%. I live in Manhattan, and I have moved probably 5 times in the last 15 years, and had the following rent increases: 10%, 95%, 25%, 15% and I'm waiting for my lease renewal this month, which if it's like last year, will be 15%.
You did not have a 95% rent increase. According to city law:
"the maximum vacancy increase is 16.25%"
umm, no. There is no limit for unregulated market rent apartments. My rent went from $5K to almost $10K. The LL wouldn't negotiate so we moved out.
Sounds about right. Inflation is a pretty old standard concept.
Problem is, I doubt the average wage increased by 3%.
Yeah, but when wages don't rise to meet it, shit starts piling up.
It's almost like there's people that WANT the serfs to be homeless...
I don't disagree; I'm just disappoined that HamNo seems to only just have caught on to this age old phenomenon
Well, it's not a full fledged article.
He was also probably more amused by the "double digit rent growth" remark because...holy fuck, could that be phrased any more cluelessly?!
Except in rent controlled and stabilized units where the rent raise is negotiated between the renter's association and the landlords. This raise is usually around the national average. Market forces drive the remainder of the rent prices which is...exactly how capitalism is supposed to work. What's the problem, here?
Except in rent controlled and stabilized units where the rent raise is negotiated between the renter's association and the landlords. This raise is usually around the national average. Market forces drive the remainder of the rent prices which is...exactly how capitalism is supposed to work. What's the problem, here?
