Don't Waste Your Money: Tenants stunned by apartment rent hikes as high as 30%
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- เผยแพร่เมื่อ 15 มี.ค. 2022
- Many landlords who didn't, or were not allowed to‚ raise rents during the pandemic, are now hitting tenants with major rent increases. What can renters do?
This is what happens when the entire framework of your country is "How much can I take and hoard so someone else can't get any?" No consideration for how it affects our society as a whole 🙄
This is what happens when you send good jobs overseas, shut the economy down, and print out trillions of dollars
There is too much greed, correct...but what also happened is this:
1) The Dems put in these insane eviction freezes for damn near 2 years in some states (over a hyped-up flu).
2) Landlords got screwed, while tenants went and partied with the "free rent".
3) 25% of small landlords got forced out of business, so Wall Street swooped in, jacking up rents.
4) The landlords who survived are raising rents to make up their losses.
5) Landlords are getting "revenge" because the Dems are pushing all this left-wing woke stuff (letting people stay for free, not ever be evicted, blocking background checks, get free lawyers for deadbeat tenants, etc. etc.)
Notes the green grass.
Notes all the unsustainable housing materials that in fact heat them up more then normal.
That's right, the name of the game is how much can I get for me, myself and I.. I don't care if it means at the expense of everyone else.
But, now that we understand the game and how it's played. React accordingly
@@thatoneguy94512 Everyone can get greedy and entitled. On both sides of the equation. For example, I've seen Section 8 tenants game the system for 20+ years.
That $650 hike to $1025, they need to be ASHAMED! That apartment isn't even worth $650.
The dollar is losing its world reserve currency status. You are seeing the start of the dollar going the way of Zimbabwe
The rent is worth whatever someone will pay
@@jimmydean4494 Have you seen Japan? Their debt is 200% of GDP for a long time, stagnant economy, and yet Yen does not depreciate like Zimbabwe.
@@phoenix5054 $1=125 yen.
It depends on where you live. In Atlanta they’ll charge you a minimum of 1000 for that spot. Everything else is 1500 and up now.
The advice they give only helps if the landlords want to negotiate...
LANDLORDS DO NOT
Yeah I laughed at that one, there is no negotiation. Maybe if your a really good tenant, a landlord won't raise your rent. Pay your rent on time, don't cause damage to the place, or cause trouble with your neighbors, don't be a whiner, oh yeah did I mention pay your full rent on time.
Right! They just want the most they can get!
If the tenant is good, its better to just keep them usually versus taking a chance on someone new or having the unit vacant. These days with the shortage of rentals, thats not really a concern anymore
NEGOTIATE = sleep with the landlord.
@@confusedcynic9073 exactly.
I confused with US in one hand you get squatter issue where you need lengthy court processes just to get eviction order, but a real paying tenant can be forced out just because they can't afford rent hike.
Landlord here in Chicago, a REAL GOOD tenant NEVER gets a rent hike of that nature out of the blue🤣 and almost all landlords will work with you IF you have been a REAL GOOD tenant. It is riskier to let go a REAL GOOD tenant for a couple of hundreds, not worth it. Landlords are at risk of dealing with long vacancies and a possible future squatter👁👄👁 so knowing what you know, if your landlord is letting you go..it is..because... you were not a REAL GOOD tenant. Whats the definition of REAL GOOD tenant? Basic common sense; Pay on time, dont disturb your neighbors, keep the unit in good condition, follow the rules of your complex and keep your word.
And that’s what the problem is. The landlords got screwed by the many bad tenants & advocacy groups, and politicians. So their raising rents to protect against being taken. In this case there’s more to this story. As most landlords look to retain tenants that pay on time monthly & abide by the lease. Notice the tenant quickly gets the attention when something happens to them. But since day 1 of this plandemic the landlords had no voice & no one had to prove they were effected by loss of income due to covid.
That's because with a squatter there was never an agreement in the first place meaning the landlord can't say you broke the agreement since there isn't one. There not being a contract makes it incredibly difficult to get rid of them as it's a grey area, and our legal system does not handle grey area efficient at all. Normally though you only get a squatter by being negligent in someway so you're not just an innocent victim you either let them move in or you weren't vigilant about your property.
@@Blah-blah-sure that is not why rents are rising they're rising because investors are buying up large amount of rental properties artificially increasing rent in an area and putting upward pressure on rent prices. If the complex next door got bought out winch they are at a rapid clip and they go up by $400 chances are that will happen to those around it.
@@seanthe100 disagree rents are rising in my area. And there aren’t large corporations buying any where near.
The condition that place is in not worth the price she's asking for
As most apartments aren’t honestly a lot of these apartments haven’t been updated since their inception
why would you live there then, buy your own property no one is holding a gun to your head to stay in the state or city you are in. go where prices havent raised and buy. hope you were saving while you got cheap under market rent. Rent should automatically be raised 5% plus cpi every year, then it wont have to go up in such big jumps.
It’s sad cuz during the pandemic we made sure our rent was in on time in consideration for the owner. Now they raised our rent from $950 to $1350. When we moved in three years ago rent was $750. Feels like we’re getting penalized even though we were on time for 3 years during a pandemic. I can’t find anything cheaper and I’m on disability. I’m tired of struggling. Tired of the American dream, want a simpler, peaceful, way of living.
The only thing that landlords care about is money.
They don't care about their tenants you can pay rent on time and be a good tenant but landlords don't care they just want to squeeze as much money from you.
We need to advocate for laws that prevent landlords from spiking rents.
The AD is a scam
You did the right thing paying your rent on time . Your credit score will thank you !
Stop complaining and acting like a victim. Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
@@jesuslover5968 if these people knew God He would provide everything they need. If they put Him first in their life the rest will be added to them. People without God suffer needlessny.
I'm not surprised we do live in a corporate country everything is a damn scam
Then you shop at Amazon and Walmart and bank at the huge megabank corporation
@Hunter Bidens Laptop 💻 This has been going on before the moratorium landlords are just greedy
It damn near is. When shop Macy's, Riches, and other Dept stores owned by the same corporation. Red Lobster, Olive Garden same corporation.
The nursing homes many of them are corporation owned across America.
Albertsons owns a lot grocery stores in other names
The payday loans places in poor areas big bank owned
Hospitals are the same
Stop complaining and acting like a victim. Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
@@jesuslover5968 you’re delusional
This is just absolutely ridiculous it's going to be a lot of homeless people in America
Exactly what they want!!!🤮🤮🤮
Well that's the plan to get rid of that middle class
At some point it’s going to hit a boiling point. The middle class is hard working people. And you can only push people around so much before they push back
American's will just sit there and take it when they're homeless. The country has become mindless sheep that don't do anything when people take everything from them. Pathetic.
What a joke! How disconnected is this guy. Landlords don't want you to negotiate. They have you sign a stack of papers protecting the landlord so the apartment renter basically has to sign their life away to be able to rent a place. To go month to month they jack up the price by several hundred dollars and then then you have to pay moving expenses and none refundable deposits on the next place. Where is that money suppose to come from when you make under $20 per hour and live by yourself.
if you make less than $20 an hour that is an issue to begin with
Stop complaining and acting like a victim. Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
Will he help pay my bills? Didn't think so...
Your statement is BS. Landlord are just trying to get rid of bad tenants.
@@royharper2003 Not like everyone has the option of instantly increasing their current salary/pay…
Many people are trying to work towards a better life but have to work lower paying jobs in the meantime. Not everyone has a great life handed to them, doesn’t mean they should struggle in the meantime.
And people complain about raising minimum wage or complain about people needing raises. Only the privilege people with extreme good income complain about other people trying to make it. Sad when more then 50% of income goes to rent.
So true ☹️💔☹️
Sadly raising minimum wage only inflates prices everywhere, and while you're getting an extra few dollars an hour all your other costs are increased as well, causing you to break even or in some cases make even less. The only places you gain ground is on any loans you currently pay on because those costs are fixed. Everyone complaining about it is seeing their costs increase while their wage stays the same, which pushes them further down and wipes out the middle class.
You only need to look at Seattle to see that raising minimum wage does not work, rent prices there skyrocketed along with food and transportation...you are then back at square one. The ONLY way to fix our problem is to tax corporations heavily for moving HQ across the ocean to china and other places, this is why china is so rich and getting stronger economically...we are giving them our money that should be going towards american workers and infrastructure. We need high speed rail, better medical care, better roads, we need jobs to come back to America. I make 300k a year and i gladly will pay extra taxes but only if i know the government spends it wisely.
@@jamesp8459 ,
Raising minimum wage makes some sense, to the extent that it forces bosses to share some of the wealth that workers generate with those workers. Without a minimum wage, those who control money can turn the rest of us into financial slaves. Without a minimum wage, we all end up becoming dirt poor workers for the rich with 18 hour workdays and nothing to show for it. A government safety net also goes a long way towards forcing the rich to share a bit. Capitalism without some regulation is a cruel and barbaric system just as evil as communist totalitarianism.
not all wealth is bad......spending time with the charities
Landlords aren’t responsible for your window blinds or your smoke alarm batteries
I beg to differ there!!
@@yahtrunamepsalms6849 The blinds were probably fine when she moved in. The landlord didn’t Rec them. Smoke alarms also probably had batteries before that an annoying beep caused her to take the batteries out. When the place burns down they’ll look at the land and say “the smoke alarms didn’t have batteries.”
Well, he doesn’t live there. Buy a freaking battery, and fix your $10 blinds. Maybe try taking a shower and use the fan at the same time or open a window.
These people act like they’re the victims when they are the ones wrecking other people‘s property.
This is called “greed” pure and simple. I could see a landlord raising the rent $100 extra or $150 extra after a 1 year lease is up. However, raising it up that high when they have done no repairs whatsoever (before property is repaired) is ridiculous.
That's to much
Mine went up 200 I’ve lived here 2 yr and I’m a year hasn’t fix fridge don’t keep temp
@Syed Mahfuz if a property owner covers utilities, sure. No one does that anymore. Property taxes didn't go up that high to convince everyone it's worth 300-600/month
That's a 57% increase. Why not say that it's over 50%?
It’s bad math (journalist math).
$650 -> $1025 is much more than a 30% rent hike my dude
A good way to stop rent increases nationwide is by banning all absentee and foreign ownership of US real estate, especially single family homes. All corporate investors should be limited to owning commercial apartments and commercial real estate. Reducing the amount of illegal aliens we allow to remain in the USA instead of deporting them should also be considered. We also must lower the amount of bureaucratic impediment to new home construction.
i will have to remember this. the everyday person has no clue whats going on behind the scenes.
STOP AIR BnBs all together, thats what we build hotels for, its a vicious circle: hotels have to lay off workers due to all these aia bnbs coming up and beating hotel prices, why they bet hotel prices, is cause the more open vacancies in the hotels , now hotels gotta trim the fat and terminate, so now short handed and have no choice but to raise rates to compensate so of course no bookings, which leads to air bnbs looking better on paper because now you got room rates averaging at $200 daily, so now the air bnbers lower their rates, and get the booking instead. so like i said its a vicious cycle. GREED
Sadly american culture is about capitalism...owning stuff and being materialistic is literally the american mindset...it is difficult to change that now.
Do you know how many fellownAmericans and corporations owns foreign real estates? I bet you haven't compain anything while fellow Americans jacked up foreign housing market and now you want COMMUNISM in this free country for your own interest??? Why don't you give up your pathetic freedom first before you talk $hit about others' freedom? God this is so self centered selfish greedy and pathetic smfh
@@shawncrabtree7000 ,
The desire of the few to manipulate, dominate, and control entire markets pales in comparison to the right of the general public to enjoy the fruits of their labor. What we now have amounts to a private tax upon the wealth that we generate through our hard labor. We are being forced to serve the greed of a tiny, incredibly arrogant, dishonest, and increasingly unproductive minority that seeks to impose itself over us as an aristocracy.
That minority is behind all of the gun control to boot. Why? Because they know that We The People will violently and rightfully overthrow them if they don't watch their step.
With the passage of the horribly corrupt Graham Leech Blighly Act and the repeal of the Glass Stegal Act, the collapse of 2008 was inevitable. Who footed the bill for that fiasco? We The People got stuck with the expense of cleaning it up while the super rich made off like bandits with our money and zero punishment. Fuel prices skyrocketed as a private tax upon the public to subsidize the greed and arrogance of the investment class. Between the early 1980s and 2008, we made a transition from having captains of industry to having captains of money churning and skimming operations. Corporate raiders replaced productive corporate executives. Short term trading replaced long term investment. Dividend paying stocks were replaced with unstable credit default swaps, corporate raids, REITs, LBOs, and other risky investments with little to no real productive activity enabled by the investments. The few shining examples of good business practice and leadership can be counted on one hand. That is sad.
Shawn Crabtree, before you accuse others of desiring communism, please know and understand that real capitalism is about the responsible investment of capital in productive activity such as manufacturing, R&D, infrastructure, health, transportation, food, and other desirable commodities. Capitalism is not about tossing around other peoples' money in endless circles of skimming, corporate raids, market manipulation, and other fast easy money scams dressed up by the investment community to look like capitalist ventures. There is nothing greedy or self centered about taking a dishonest, greedy, unproductive minority of investment class scoundrels away from the hard earned wealth of We The People. There is nothing wrong with putting a stop to what American investors got away with in other countries. It should not happen here or there.
You might not have a hundred million dollars to invest, but that doesn’t mean your money can’t share in the same opportunities available to others. You work hard for your money; make sure your money works hard for you.
The wealth you pass to the next generation can have a profound impact on your heirs, providing educational opportunities, the capital to start a business, or financial support to your grandchildren.
To manage investment risk, consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal. Remember, diversification is an approach to help manage investment risk. It does not eliminate the risk of loss if security prices decline.Because investing can be complicated, consider working with a financial professional to help guide you on your wealth-building journey.
can you endorse any ?
TERESA JENSEN WHITE does a perfect job. look her up on the web
thanks for the info . Found her website and it really impressive
talk about a slum landlord. and the audacity to raise rent with no working appliances. poor lady, she works had for her money so you better treat her right.
This is why I always aspired to be a homeowner since I was 21 and bought my first at 28 and my second at 41 it was the best decision I ever made
Lucky you but those of us that are in our early 20s won’t be able to afford
@@whatever5922 I think first time homebuyers still have a chance but u have ti improvise and possibly get a house under a business name or just get a group and save and invest like say four of u invest in a four bedroom house then sell it to one and invest in another because you can stack up funds faster ok u are not out but u must think ok and also look at options like container homes tiny homes or even the option of buying your own materials ok it can work but don’t give up ok I started early and look also at tax liens ok if there is a will there is a way ok they want u to fail but I don’t
@@ltraingalaxy122 I wish I had a group to save up with
Property taxes for home ownership shot up too... no on is safe unless you life off grid
Property taxes have doubled in my city! insurance went up a lot!
Your suggestions for a rental crisis are very naive. Ask the apartment complex if you can work around the area to help out... Are you freaking kidding me. It seems like this piece was written by rich people who already own their home.
This made me think of Lucille Bluth. "I mean it's one banana, Michael. What could it cost? $10?" The privileged who have never struggled will never understand.
@@1Letter23Numbers. lol great reference
This is what happens when you have rent moratoriums and no houses being built at the population growth.
Agreed government should build their own huge complexes that are affordable.. Some of it based on income.. I know I would be in a place but instead I have to sleep in my car every night ..You do what you need to survive
After the bubble burst builders got scared. Then the pandemic hit with shortages and lockdowns. Now rent control is popping up so builders stopped building again. Builders cannot borrow money with high rates and strict rent control. Big states with rent control are NY and CA. Both states run huge deficits so I doubt they can afford to build state affordable housing.
Building going on all around me Florida.
how many empty homes are investors sitting on?
You are forgetting the part that these slimy landlords also got mortgage forbearence. Don't believe them crying you a river. Greedy pos scums didn't have to pay nothing and now they're using the moratorium excuse to charge double or even triple for extra profits.
Try 100%. My friend's friend in a large town has lived in an apartment for 30 years. Her rent was $650 per month. It will be $1300 per month under the new owners. She is over 70 years old and lives on social security. Blackstone properties are doing this all over the USA.
I really don't understand why somebody would rent for 30 years a house could have been paid for within that time and she would have been better off even if she has to pay for yard work and other things around the house
@@debbieframpton3857 probably never was in a position to buy
@@signe1880 ,
Maybe not but I think I would have found a way rather than pay rent for 30 years even a small trailer on a owned lot would be a step up from renting
@@signe1880 ,
I bought a regular house with full basement and garage I just suggested even a trailer would be better than paying rent
@@debbieframpton3857 she just lived paycheck to paycheck. No money for a down payment, no real savings. Her social security isn't great. She gets by and that is all.
Once upon a time, evictions used to be rare. Now they're commonplace because landlords have no shame and there's no limits except the market, which is open to foreign and corporate entities. Rest assured, they will reap the rewards for their actions 🌾⚙️
Now they're commonplace because more people are deadbeats...but also because inflation goes up and up and up - decade after decade
I feel sorry for the people that have been paying all along or tried to but not for the ones that just laughed at the landlord.
This why once my lease ends, I'm moving back home to save money. Why pay rent when you can save up for a house or education. And on the plus side I could help our family with groceries and chores.
Your family secretly hates you. stay away from them.
Jas I did the same in 2020. I only pay my mom 200 dollar and I’m Gucci I save 1.5 per month.
yup why give money to a stranger? I moved home and saved to buy a place, too.
I wish I could move in with my mom & we lean on one another but she passed away. When my sister graduates college her & I will share a 2bd because affording a place alone as a single adult without it being half your check is darn near impossible.
Just did the same thing. My friends think I’m crazy but my rent has gone from 1055 to 1680 😩
Better off moving out and living out of your car for a few months to save a ton of money.
I thought about it but where to park at night? I have a good paying job, or so I thought….but now with my rent increasing by over 60% i can’t afford it anymore…Miami is getting so insanely expensive!
Miami is getting that New York rent
In reality you really don't save any money by doing that and it hurts you in the long run. I have done it and even though yes in the first two months you do save money but then it becomes extremely taxing on the body and the mind. In order to keep your sanity going you end up spending a lot more in gas, food, and just things to contain your sanity. Simply trying to find a safe place to sleep at night and constant traveling drains your gas. Not having shelter robs you of one of the fundamental human necessities which is security, peace, and protection from the outside world. A car unfortunately does not provide that you are always on your guard for every little thing and you are just one emergency away from totally ending up in the street. My suggestion would be best to leave a high cost of living area, live in your car in a low cost area and find a spot asap. Heck I would even leave the country if no where is reasonably cheap, if our great grand parents immigrated because life sucked in their countries and life is sucking for us now in this country maybe we should do the same like how they did it.
I thought you were joking, but apparently, people like the idea. Seriously guys, if you can’t keep a roof over your heads, you failed big time.
@Jonathan McCully Make sure you check with the zoning of the land before you buy. Land out in the middle of nowhere can still be zoned. If it is zoned residential make sure you have all permits before placing a mobile home on it. Lots of prep work before making an investment like that.
Property taxes are screwing the entire country.
Finally, someone tells the truth that rent rises are 30% or more. Other news channels state 15% or less.
Austin increases by 35% from last year. I paid $1000 then had it raised to $1300
Well since companies don't want to pay more money then why don't we focus on reducing the cost of living.
Or generate different sources of income rather than just relying on a 9-5 job. Invest in REITs and get a return on your investment that will off-set the % of your rent increase. So many people have acquired an entitlement mentality where they've become stuck and bitter. Don't let your boss be the one to determine your financial future. There are many sources out there to generate passive income. Motivate yourself, educate yourself and go out there and do it!
@@A-t-r-u-s Good advice. If you can't afford to pay your rent and buy gas. Invest in real estate trusts. And if you can't afford to buy bread, eat cake.
@@A-t-r-u-s Oligarch bot detected
“Offer to do some work around the complex” lol no do not do that
If I were in that position, I would, then “slip and fall” premises. 😉
When property taxes and property insurance goes up you have to raise the rent you forgot that part of the story
we need rent control now
You need a mortgage
Not many states have it for any reason so rent control is pretty hard to pass unless they have reason to do so any. so gotta deal with the rent increase or move to cheaper place any.
If that happens home owners will not rent
I think everything has been a mess either before pandemic or after now days.
@@Spartan-ts5dy why would they if they own homes?
(1025 - 650) / 650 = 57% increase not 30% I think they divided by 1025 instead, but terrible nontheless
I came here to see whether anyone else noticed.
For what it’s worth though, the “over 30%” comment is TECHNICALLY true. 😅
Remember property values went up which increased the taxes. Property insurance rates also rise every year. It’s not good.
Diamond might want to check out El Paso, TX. There are plenty of 1 bedroom apartments for rent here from $750-$850. And dishwashers, AC, microwaves, laundry facilities, and residential swimming pools are standard. Some complexes even have your utilities included in the rent.😊
They want to live with rich people to protray the image they are better than everyone else.
Sure, but how’s the neighborhood? What’s the crime statistics? How’s the public schools for children? What’s the job market like? As a parent, no one wants to live in a crime ridden neighborhood. We want the best schools available for our children, giving them better opportunities. We want job security with benefits and retirement. Can you say yes to all those in your cheap 1-bedroom apartments?
@@TheAnonymous916 it's a welfare city. All girls just chase soldiers.
We all cant move to El Paso now can we
El Gayso
This is pay back for all those renters who didn’t pay rent during the pandemic…
So since we going after the lanlords are we going after the gas companies too?
Go after the source. The government. They set the stage to make this happen.
And the supermarkets?
It's a perfect time. For. Crooked. Landlords. Untill the market. Crashes.
That might be the reason to Richard make as much as you can before the correction 👍
you're comment needs to be the top... while our media is focused on sanctioning russia.. our economy is literally about to thit the phn fan and crash. This is like 70% sure no matter what other shill tells you. Why do you think the discussion about switching to a 4 work -3 off workweek is gainingn ground right now.
How can the market crash?
It. Can't. Keep going. Like this. If the. Inst. Rate. Hits. Say. 8. Percent. Most. Working. Folks. Can't. Afford. That. It's. Got. To come. Down.
@@waynemiller6070 High rent -> Buy less extra stuff (ex. Netflix) -> Netflix earns less -> layoff staff -> laid off staff stops buying stuff, forced to sell their home -> more company layoffs -> more homes on the market -> oversupply -> price crash. I'm not saying this will happen to Netflix specifically, just as an example.
U.S. Fed Gov deliberatly allowing this to happen...🤬
My rent went from 980 to 1500 for 1 bedroom in a semi bad neighborhood
Sorry to hear that my dude. Landlords are nothing but parasites. The working people must unite ✊🙏
Mine started at $900 then $1200 then $1700 now he gets $3000 as of 3 months ago I saw it online
It's crazy all over the country
Listen. Landlords are not one size fits all.
I am a landlord myself and when my tenants request something I’ve met all their standards. ALL. They just signed another year lease with me. They’re good to me and I return the favor.
Agreed. We like our landlords, they’re good to us. We are good to them. It’s symbiotic.
@K P It’s not get rich quick, that’s for sure.
St Paul Minnesota passed strict rent control last year so builders cancelled and banks stopped financing new builds. Building Permits went down 80% after a few months. There are too many people and not enough housing. Hello Toilet Paper Frenzy.
Hello illegal aliens
Yes .. so I have a friend with a property in St Paul who is taking out all the kitchen cabinets except one basic one I took out one of the two bathrooms in the 3-bedroom apartment so now she pays less in taxes and because she took out the cabinets and replaced with some shelves if the tenants ruin things she has left to fix unless taxes and all of that results in less housing available to a larger family
@@KC-dr3cg the tax is based on how many bathrooms and kitchen cabinets???? that's crazy, but good for your friend to think ahead.
Yes! Apparently the governor of Illinois took out toilets in his house to get a lower assessment on the value of his house and a lower property tax bill. Insanity.
In my past I lived in a larger city and could not afford the rent increases, I packed up my stuff and moved to a smaller community. Now I own my home and never looked back, sometimes hard choices have to be made. No one makes you live in a certain town/state.
People complain about rent increases but as a landlord you have to raise the rent because the property taxes go up each year the city's put Buns on the taxes and also your insurance plus you have to maintain the home after a tenant moves out which usually costs 8 to $10,000 to redo to re-rent.. corporations may be buying up a lot of us homes like BlackRock or wave point but for the individual landlord who owns maybe 1to5 homes basically breaking even.. also most likely there's still a mortgage on the homes and they are being bought and rented as an investment.... real estate is a long-term investment you're not getting rich overnight and most tennis don't take care of the house because they don't on it so yes I think rent increases are necessary and if they can't afford it then they need to move out
It makes sense that the moratorium resulted in landlords increasing rent to recoup their losses. If the government was going to force landlords to bare the cost of allowing people who couldn't pay rent to stay, then they should have been given subsidy. Rent moratorium and rent control are always bad progressive policies that actually violates a property owner's Constitutional rights and discourages residential development.
EXACTLY!,
Landlords renovate their bank accounts only.
many, like myself have 2 rentals, I am 65 and cannot imagine living on social security, but it has been common knowledge for 20-30 years that you cannot survive on social security only. I depend on my rental income to pay mortgage, hoa fees,and taxes, not to mention repairs. you know it costs over $1200 to change a water heater, $25000 for new roof, west coast California. Soon crazy democrats will enact laws that all residences need to have 0 energy footprint. thats when rents will really go up as it will cost over $100,000 to retrofit. As long as government keeps increasing cost to build new rentals prices will go up astronomically while because of anti land lord laws, rental stock will rapidly decrease. When these crazy laws pass I will need to sell. Already insurance has doubled in California for homes because of global warming, that is if you could get insurance.
So landlords got absolutely screwed over the past 2 years with people not paying rents and/or rent freeze laws from the government and then they are just supposed to eat all those costs? What did you think was going to happen?
She was paying 650 though.
Was that alot ?
$650 is cheap for an apartment. A bad apartment here is about $1000 for a while already.
@@5erytfshfjo97r7dygkpu and where is HERE? no reason rent should go up that much.
Landlords need to make a living up folks, everyone think landlords have no mortgage and are loaded
Most landlords are greedy liars , speaking from experience.
@@sonicboom2723 Liars about what? lol you made no sense and we both know you have never been a landlord
@@BigRed2 , I know a bunch of them and they are two faced liars.
I own a remodeling company and I will not do any work for them because they are the most greediest self centered people I have ever met next to real estate investors.
Don't worry I have plenty of work despite them . Plenty , and I am honest and fair priced .
The reason this is happening in so many places is that landlords are trying to recoup their losses from the bs eviction moratoriums that so many people took advantage of. Not only that but they are trying to get marginal tenants (bad credit, missed payments, low wages, etc) out to replace them with better ones in the hopes they won't keep getting screwed over. Hope those couple of free years of rent were worth it!
Also governments raise the assessment on the houses so taxes went up and so did the insurance. All when a lot of people were out of work. The governments didn't get enough taxes for doing nothing so they raised the taxes.
I wonder why didn’t landlords who could take advantage of the programs that were paying landlords the rent that the tenants were not during the moratorium?
You are exactly right. Two of my good friends own ONE rental house. The income from that supplements their pensions. Their mortgage didn't go away when their low-life tenants refused to pay the rent. BUT, the low-life tenants went away when my friends and I took the doors off the house to get them repaired.
@@sjaykay9884 Easier said than done. Most landlords didn't qualify due to all the bs required and it even for those who did it was only a fraction of what they were owed. You seem pretty generous with other people's money. Probably one of the deadbeats. But now as COVID winds down all those scumbags that played the system and smiled these past years are going to regret it. No one will rent to them without good references, those that do will be the lowest quality units at premium costs. Whereas people like me who have excellent credit and pay histories and good rental references will do great!
@@sjaykay9884 most of those programs had to be initiated by the tenant, which they usually couldn't be bothered to do
One word for this story. GREED
I'm a landlord. EVERYTHING is so high, we HAVE to raise the rent. Yesterday I paid a 5 gallon paint $197, 30 gallon Water heater was 400 before... now 788 does not include installation. Tennant is behind rent, you can't get him out..months lost income. Spend 1,000 for eviction. ?????
@@zhaw4821 John is right in this youtube they clearly show that there’s mold in the apartment and other things that need to be fixed. Yes it is greed since no renovations are being made prior to hiking up rent. No one will pay that amount after seeing the conditions of the apartment where she lives. John clearly stated that he was talking about this story.
@@JanInks
Maybe.... The tenants brought that apartment in that condition. I am sure it wasn't like that when they moved in. Iwould get them out before I would invest any money for improvements..... OR I would raise the rent.
@@JanInks shouldnt be mold if you are diligent in house keeping, keep rooms ventalated. people live like pigs, you will have mold window frames need to be cleaned every 6 mons. spilled water cleaned up immediately. leaks under sinks etc need to be fixed immediately. most tenants dont say anything until a little problem becomes big. hot hot showers in cold weather will cause dampness. maybe to many people in house is most often cause of dampness. not enough time between showers etc to dry out.
Not Greed. Freedom. Everyone is entitled to get the best deal they can. That's why we have prosperity. Otherwise, you are talking communism.
Those suggestions are laughable. Are those legal aids serious?!? They might as well tell people the truth either pay up or get out. No landlord is going to negotiate with you. Especially when everyone else out there is raising their prices.
"May the odds be ever in your favor"
try negotiating your property taxes, or insurance premiums, repair and maintanence costs
Government can print money but they can't print products and services (housing in this case). Someone need to get paid and someone will pay eventually. This is the consequence of min. wage hike, stimmy check, mortgage forbearance, cancel student loan, eviction moratorium. If you don't get all those above but get rent hike, then you're paying for someone who enjoys the freebies.
Even adjusting for their increased expenses, I'd love to see landlords try to justify on paper the rent increases other than "a lucrative business opportunity" I want to SEE where the extra funds will be going that you're asking for such a huge increase in 1 year. This is why in ancient times they used to have public punishment for people who took advantage of others and it would serve as a clear deterrent warning. It's one thing to make small adjustments every couple years due to inflation, maintenance, or appropriate costs of that city but sudden massive jumps have no excuse other than greed
They are making a living off of it instead of working
yea say the same for looters and people living for free
Wouldn't be a problem if employers were required to pay living wages. And the highest paycheck (including shareholder checks) cannot be x amount more than the lowest
yeah you are right, someone flipping a burger should make enough to afford a 300,000 house
And they should only have to work part time to do so! Gotta protect their mental health!
@@malikking7047 part time is too much, why should people have to work at all..............jeesh
Stop complaining and acting like a victim. Everyone needs Jesus Christ. turn to him and he will give you everything you need. People just need faith. I am praying for you 🙏🏻
When word goes out that wages are increased the rents will be raised again. The issue is greed.
Landlord is trying to sell their house for profits? 🤔🤔🤔
They can still sell.
probably move her out, totally remodel the apartment then rent it higher
When some decided to take advantage of their LL's by not paying rent when they could and should, they made this game on. I sincerely feel bad for those who tried their best to do what was right. These are the ppl that deserve the best. Ones that took that money and advantage---bought more wigs, got their nails done, bought new big screens, a new car, etc. sorry, don't feel for you.
Yup. My previous tenant didnt want to pay rent or pay for damages she made to my new home, yet bought herself a Maserati! Yes you heard right.... Maserati. AND upgraded her Mercedes! Yes people.. yes you heard right! And shes still claiming the pandemic "hurt" her business. What goes around comes around eventually. And when it does it will hurt her big time....
@@janjoy9759 Sorry to hear that. The government messed this thing up big time. It's hurting the whole country. I'm not a LL (Thank goodness) but I rented out a house a long time ago so I can see both ends of this thing. Makes me want to just scream. I really can't believe how they are taking property rights.
What is my fault in this for paying my rent before it's even due every month then? I even pay up to 10 days early every month. Why do I have to suffer because of some scumbag? Should I also feel sorry for myself and start screwing someone else? Don't be dumb. You're sabotaging yourself in the long run. You are driving the prices up so high, eventually it'll come to a point where everyone except the millionaires will default on their rent payments. People are moving into vans and cars now. How will you pay your mortgage then? You'll lose your home eventually or will be forced to sell and will become a renter yourself who'll have to pay those exorbitant rent prices yourself you idgit.
I hate that some people take advantage but the ones who don't get hurt. when I moved into my apartment it was just me, age 16, and I had no issues because a tiny two bedroom with a bathroom the size of a maximum security cell looks massive when you're a teenager. but now I'm almost twenty, have a child, the fridge stopped working a year and a half ago, all but two lights completely stopped working because of improper wiring, I've had to replace three microwaves with my own money because of improper wiring, there was a massive bed bug issue and I had to throw out and replace all of my furniture (and sleep on a metal box spring while heavily pregnant and high-risk with horrible sciatica). I had dogs at one point and the puppy messed up some walls, which I offered to fix myself and was told I wasn't allowed to, offered to pay out of pocket for a contractor to fix it and was told I wasn't allowed to, that it would get fixed before I hit six months pregnant. then before the baby came. then before the baby could crawl. then before the baby could walk. it's still not fixed, but if I take it up myself I'll get evicted immediately. my ex husband was an extra $50 on the rent and the dogs were an extra $50. since then I've gotten divorced and he moved out, one dog passed from cancer, and the other went to a nice family in Louisiana who lost theirs in the hurricane. I still have to pay the same amount of rent I did before all of that. no heating or cooling, zero ventilation, no fire extinguisher, no fire alarm, no CO2 reader, massive roach problem that older tenants told me they'd been fighting for over a decade, he hasn't emptied the septic tank in the almost four years I've been here and, according to others, he hasn't done it for A LOT longer so the moment the weather warms up the apartments absolutely fill with drain flies.
that's not even the worst of it. my old neighbors had a dog they beat and neglected and ties out on MY porch until it started pooping and throwing up giant clots of blood. I got it taken away. they started breaking in when I was gone and stealing my makeup and expensive art supplies, then would smear it all over my door, my mailbox, my chairs and even stroller and baby pusher. they started screaming (on camera and *in front of the landlord*) that they would commit assault, threatening extreme violence towards me and my property, told me they'd kill my baby when she was finally born if they couldn't beat her to it in me (this was all when I was heavily pregnant). y'know what he told me? "if I evict them I'm evicting you too because you started it. and if you get them arrested you're getting evicted."
I've fixed things with my own money I didn't have to spare because he wouldn't. I've payed rent on time, every month, on the dot, with nothing late. I've helped him clean and fix other apartments after tenants left with no payment, nothing taken off my rent. there are some bad tenants, but for some reason it always seems like the good tenants always seem to get stuck with the bad landlords.
@@Maybe-cg2tn I'd love to but the cheapest you can get around my area is $1k/mo. I can barely afford this place, no way in hell I could get anything better without going bankrupt or taking out multiple loans
That’s how much I pay for a studio apartment in California. It’s so upsetting.
So how long till we break out the good old pitch forks and torches
You can thank inflation and rent moratorium
It is getting crazy out of control here in Miami as well. One of my friends at work/ he and his partner m”s rent is going from $2300 up to $3200. That’s nuts, as they are leaving area. Mine I know will go up at end of lease.
Let’s do this. Anybody renting an apartment in the area do not pay rent for 2 months. What are they going to do? Kick out several hundred thousands to the street. Then homeless rises. Bad choice
the cost of living in Pa is decent but it's super cold in the winter and no beaches. gloomy
How's that even legal?
you will get a bot that says .. ' just move to tx' . .. untill Govt Abbot says enough and stops 48 states from entering TX and then .. aw shi* here we go again..another Alamo. I think landlords' blackrock' smell a crash and are banking whats left of it efore SHTF. . this is what happened in 2005-2007 , then 2008 hit and boom. Recession 2008 all over again.
Rent always goes up. It has gone up a lot since the 70's when I first got out on my own.
One could find an apartment in Austin for $50 in the seventies.
I didn't know John Materese left Cincinnati Ohio. I always liked his "Dont waste your Money" segments
When city boards decide to do illegally capture landlords property by placing no consequences for those not paying rent and not allowing the annual rent increases for 2 years, how are people shocked? 🤔
If her rent was $650 2 years ago it should have been $800 on the new contract. If things had been following the natural progression It wouldn’t have been so shocking. The tax jump for most landlords has been insane. Property values went up 25% or more so did the taxes and insurance to match the new property value.
Thank you!! Landlord have rising costs too! Inflation affects everyone
@@miavidz It’s about to get even more ridiculous because with housing prices rising by 25%+ I know landlords in a small town in GA are worried. They think their taxes on all properties might double. They will have no choice but to raise rents in 2023 even though housing prices might drop a little.
They should Propose landlords keep their tax base if they don’t raise rents. Something that might work for everyone.
Meanwhile did you enjoy your mortgage FORBEARANCE and 3x equity appreciation in 2 years? Oh cry me a river. And you're suggesting a government that charges full tax income on unemployment insurance could give you a property tax break? Lol, aren't you naive.
@@bluerabbit1236 not sure if you were taking to me but I never took any mortgage forbearance as it wouldn’t have help me anyway. And also yes having equity in my home is lovely however still doesn’t help me or my lower my costs. Not sure if you know how equity works but it’s only useful if you sell or take the money out which would then increase my costs. So again inflation is effecting everyone. And tax breaks come on for small investors doesn’t make you rich just helps a little one time a year like everyone else who gets a refund. But as a business owner I never get a refund and I pay quarterly.
@@miavidz yea, who got a mortgage forbearance? If that was the case why would we care about not getting rent?
They must have thought that one through and realized it’s not how this works. 🤣
$650 ??? Where the Hell does Diamond live ? I haven't paid rent that low since 1990. $1025 is cheap however the owner should paint, buy a new stove, add flooring and definitely remove the mold. I think this is in Bakersfield,CA where I wouldn't live even if I was offered FREE RENT but I understand everybody's circumstances are different. Diamond isn't going to find cheaper rent anywhere in The US.
I pay 615 for my 3 bedroom house. Granted I do live across the streets from the PJ. But when I close my front door I don’t see them anymore 🤣
Rents and incomes vary depending on where you live in the U.S, the same apartment in Birmingham will cost only a fraction of the rent it does in San Francisco
650 is extremely low, heck 1025 is extremely LOW...i paid 3k for a 1 bedroom apartment in CA...seriously my gas bill is 650
You do realize there's other parts of America rather than just where you live..
I'm in Illinois and I pay 440 for a nice studio in a good area..
@@igot5onit423 how much is your heating bill
So according to this landlord mold issues & appliance fixes have to wait till after the rent hikes?
Wow. This tenant definitely needs to move out of this apartment.
who caused the mold issues, filthy tenants. lack of common sense, like opening a window when you take a steamy shower.
The leaks from the ceilings, the lack of pest control, air filters (are they supplied?) & other needed repairs is the responsibility of the landlord. Not all that mold or leaks was by a unopened bathroom window.
@@jasoncrandall73 in my rentals, that has been the cause. so much crap was under the kitchen sink that no way a leak could be seen, rotting the back wall and floor. Tenant probably stuffed something to big underneath the plumbing causing the leak. the other was because of tenant moved a daughter, son in law and children and flooded the bathroom floor It is unlikely a landlord wouldn fix a roof leak if notified.
\
These buildings have lacked any type of steady upkeep. You obviously have had different experiences but a lot of apartment complexes in Florida have been around 40+ years with very little updating. Plus a lot have been sold for reduced prices due to a lack of proper maintenance.
@@jasoncrandall73 they probably wished they kept them up better, for now it will cost a fortune to fix. I think rents need to automatically go up 5% a year to cover future renovations, and increasing taxes , insurance. I have owned my home since 1975 on 3 acres in Santa Cruz County Ca and yes it is worth a fortune, but every year , our home was our priority and to properly keep it maintained, landscaped, roofing painting etc. on blue collar wages I have been house poor. first time I replaced my roof it cost $3500 by a big roofing company in 1998. 2 years ago I had to reroof it , done by roofing guys on the weekend, non union, non insured etc and cost $25000 , again water heater replaced in 1990 for $100 in 2018 $ 850 , I want to replace flooring, and am to old to do , it will cost$30,000 by licensed contractor I understand from ' THIS IS JOHN WILLIAMS, on youtube that Miami will require retrofitting to make all housing a0 energy footprint costing $75-$100 k for each house. AT this point many will have to sell out to home owners and give up rental income to supplement social security.
Consequences of emergency rent forgiveness.
Over $1k rent without a working oven??? Wow. Florida is bad here too. We looked at a house for $2300 a month and it was A DUMP. The pictures online looked great. Clean and new. Got there and it everything was worn down and tore up. Can't find too much under $2k here to rent.
Who is regulating these landlords? Like a free for all?? God!
Us landlords don't need regulating . We own the property and rent it out . We don't need anyone telling us what to do
@@bkidwill7423 Everyone has to answer to someone higher than them. Including landlords.
@@bkidwill7423 , your type of landlords needs to be prosecuted to the fullest extent of the law .
Ground breaking advice, like wear a coat during winter, any advice on getting my time back?
I keep my ac at 84° and 66° in central Texas :(
the blinds not sure if the company supplies them or the tenant , but if they are damaged that's on the tenant. From the looks of the unit it is not a $1,025 (in most places). To jump up to double the rent is way too much. If the stove does not work unless she is low income most places say if the stove breaks and its on the tenant it's up to them to get another unit. Some may replace if it's in the lease or the rents are higher if it's still within the 12 month lease but if you are month to month they may not want to buy a new one for a short term tenant to break again.
Key words "recoup their losses". And this is why I said the eviction moratorium is a joke. No one was watching out for the Landlords and SO MANY Tenants took advantage of the moratorium and their Landlords. This is the result.
I sympathize for those that actually tried to pay their rent in a timely manner and/or started a payment plan. Because they did everything right and are probably still receiving a rent hike because of others failure to do the same.
And before everyone comes at me and says I'm a Landlord loving B, uhmm, no. I'm a renter too. I just work in real estate and see a lot of angles and sides that most people never see much less think about. Most apartment complexes pay for water, sewage, and trash along with property tax, insurance, management fees, gardening service, general maintenance, etc. Owning an apartment is not without cost and Landlords have been having to consume this cost for over 2 years with zero to minimal income. A lot of Landlords are in the red because of the pandemic. If your response to this is, "That's their problem." newsflash - you're the problem.
You can complain all you want about housing cost but someone is going to be a Landlord of that apartment - most likely not you - and they will need to make some cashflow to make managing it worth their while and investment. Now do you want a mom and pop or a REIT/Corp. for a Landlord? Cause a lot of mom and pops are selling rn because they can't sustain the property and Corps. are snapping them up. And REITS/Corps. dgaf. Be prepared for crazy annual rent hikes, management that doesn't care, and a team of lawyers if you don't pay or violate your Lease. Because as we can see, that's what not caring for the last 2 years has brought upon us. Again, we reap what we sow. So NEXT TIME, care a little bit more.
Yes, I understand the pandemic was a difficult time but the moratorium did not need to continue for as long as it did. Many people took advantage of it and that along with unnecessary extensions exacerbated the problem. You can't blame the Landlords for trying to recoup their losses.
I agree with you 100% 👏🏽👍🏽
We learned time and time again that trickle down theory doesn’t work. But the stimulus checks were the first time I got to see if trickle UP theory worked. The idea was that you used that money to PAY your landlord. The landlord then paid the banks. Now I don’t know if eviction moratoriums caused many to hold on to their checks just in case, or instead, just helped boost the economy and inflation, with landlords stuck paying mortgages and property taxes. I do know that The Great Migration also had an effect.
A massive amount of people were moving to once affordable places, creating a demand. At the same time, investment groups were buying up houses left and right, mostly anything affordable ($300k or less). This demand with such a small supply rose property values. If you are a landlord, paying property taxes on a $150k valued at $300k, that hurts your investment. Instead, it makes sense to simply sell your property, since you pretty much doubled your money in only a few short years. Now then, are the tenants going to buy the house, if given the chance? Possibly, but it’s rare that they could come up with that amount of money for a down payment that fast. So who is willing to buy a house and NOT evict the current tenants once their lease is up? Another landlord. Most who are willing to pay asking price with inspections waived, and all closing costs paid are investments groups. Now then, THEY are the ones who tend to skyrocket the rent. Instead of charging $200 a month more each year, the new landlord will charge them the full $400 hike. They also may have no idea about the conditions their tenant is living in since they waived inspections.
Judgement!⚖️ Tick tock ⌛
Well said!
The moratorium was illegal. It was a taking of property. Passing a law that the tenant would pay it back - what a frigging joke. I've never received a dime from any judgement of eviction. It was a convenient lie. And get this. We couldn't even take the loss off taxes. The government passed their responsibility onto the landlords.
I've been through this twice! There NEEDS to be stricter rules, and regulations on these landlords, and property management companies. I'm sick of it to the mf hilt! Yeah, I'm a 100% service connected disabled vet too, and the VA couldn't care less.
it'd help if there was a federal regulation putting a cap on rent increases and not just leaving it up to the individual states on if they wanted to bother capping rent increases. if it was federal then the states wouldnt have a choice whether or not they wanted to enforce it and renters all across the board would be protected.
What pisses me off is I can afford the hike but landlords don't want to fix anything or make it worth the hike. There should be laws if landlords are gonna hike rent then they should be made to fix repairs and update the home
@@jerellbond6228 They really drag their feet when it comes to maintenance, then they want to blame the tenant for the problems.
@@jonbassett9391 no I took pictures when I moved in. Toilet don't work, leaking sink, carpet covered in burns and it hurts to walk on when I'm barefoot, holes in walls but I was shown a 2 bed 2 bath townhouse when I made my appointment to come look at 1 but got put into a rundown 1 bedroom trap house. Don't see how they get away with this
@@jerellbond6228 I have pictures, and documentation. They're not gonna have an easy go with winning the damages part of my court case.
stop renting where you want to live buy where you can afford
Broken window blinds and mold in the bathroom are caused by the tenant. The oven is the property owner.
And this is what no rent regulations looks like. This country is a shame.
HEY Diamond give me your $1000 rent because that is nowhere to be found in Florida and I haven't seen $600 rent since 2013
Last year I was paying 725 a month in Tampa until the trailer park was sold. 5 years ago I was paying 425 a month for a 1 bed 1 bath trailer. I did pay water and lights.
@@MrWelfarehater 🤣🤣that's a trailer park; you're a comedian.
Why is living in a trailer park such a laughable circumstance? In an apartment you share walls, have to hear and smell your neighbors, and the amenities available in an apartment complex may be available in a trailer park. Not all trailer parks are like Sunnyvale with a Ricky, Julian, and Bubbles. Some trailer parks are quite nice and offer affordable living.
We need help...its a shame that my friend who is a Senior iuse her little pension to pay rent and she had to retire at 62 so SSA penalized her for taking Social Security early
SSA doesn't penalize people for taking SS at 62, they just don't get as much as they would if they waited until 67 or 70. However, it is probably better she took it at 62 because when you wait you run the risk of losing money if you don't live forever.
So, How about feeling sorry for landlords that had to pay all the bills without rent???. The moratoriums were illegal yet they did it anyways. The laws were passed that the tenant had to apply.
M st wouldn't. So, they are getting their money back. Did anybody stop the taxes or repairs???? Hell no. I paid $17,500.00 to get a house ready to rent. Add $3,000.00 for taxes and how much rent do I have to get??? The only people that feel sorry for landlords are the accountants. You people need to get a grip. It costs a bundle to keep these houses up. And, to make matters worse, only the landlords that rented were affected. If you sold to another person, they could bounce them out. A lot of us did that. Don't forget that it was two years that we could not raise rents. But repairs kept going up and so did taxes.
The rent hike is approximately 57% not 30%.
They don't care.
Do not blame landlords for this. If you & I were a landlord, we will try to get some profits too. If anyone, blame the government. They should do enough to build more houses. Instead of sending billions in aid to other countries after destroying them and wasting trillions, we have this situation in US. their own citizens are going homeless.
Our apartment since it was now corporate owned increase the rent $200 every year. 3 years in a row now. We been approved by a VA loan and was looking for a house but the problem is finding a house to purchased is also crazy and exhausting. 13th offer is still not winning an offer. Then most of these buyer of houses are greedy investors. How can we compete with these investors? They are competing with a regular homebuyer like us. Its very disappointing.
“The bank said I cannot afford a $1,200 mortgage payment. So I am paying $1,800 rent payment instead.”
Thats cheap compared to here in Hawai'i'. Average rent for 1bdrms here are $1700
😰good god! I would leave ASAP. I have a couple rentals. I charge $1235 for my 3 bdrm and $910 for my 2 bdrm in VA. I’m going to have to increase a little because of property tax, but only about $20 to $30.
@@RJames-uy2mt Thank you for being fair R.James, thats good on you. Some Landlords are now just getting greedy. A friend of mine rents a small 800 sq ft home here and i know the owner really well, she has told me a few times(BRAGGING) that the home was purchased in 2009 for $120K and her mortgage is only $847. and some change, she used to charge $1000 for it. Now my friend has rented this home from the owner since 2016 and his rent for the first year was $1200, than 2017 it went up to $1400, 2018 up to $1600 and stayed there til now...2022 and she renewed his lease again but raised rent to $3100 and had the audacity to explain that costs went up. I get that part, i understand as a landlord myself with 7 rental properties, but this seems like plain greed to raise rent that much. inventory of rentals here on the Bid Island of Hawai'i are slim and or EXPENSIVE to begin with, so he is almost forced to stay and agree to the new lease and figure out how to pay the rent increase. Otherwise move out and look for something else, having to come up with deposit, rent and other expenses related to moving. LANDLORDS here have gotten GREEDY. I raise my rents accordingly, 5 of my rentals have tenants that have been in them for 10+ years. Id rather have steady GOOD, clean, respectable tenants, than always have to LOOK for tenants because you keep upping the rent.
@@KRangasan I agree. If I have a quality tenant, I don’t want to price gouge them into leaving knowing I may end up with a terrible tenant.
Wow!!! So blessed to have a home. Thank u Jesus! May God bless these people!!!!!!
The blinds were perfect when she moved in and the other problems were probably caused by her too. She treated the apartment like crap.
I agree. the landlord probably work his as$ off while most people party in their life
Rental apartments barely make anything. Tenents trash the place . To repair the damage it gets passed on to the next tenent. Taxes and materials like paint have doubled in price. Labor costs are higher. Yet people still treat my rentals like crap. I have to pay the mortgage and taxes. Thank Biden. I will no longer rent to losers. Min 600 credit score and 1 month down. 500 pet deposit. Dogs tear up the house an urinate everywhere. Carpet replacement is 1500 for a small one bedroom. No more losers. Deposits and pet deposits required.
People don't pay the water bill and it gets shut off yet they continue to use the toilet for months. The place is a disaster. Costs $3000 to repair. They lost their 500 deposit but that is not enough to cover the damages.
@@ryanjohnson9118 not really whos gonna fix hole for $100 now a days workers charges $150 minimum
Government is to blame here not landlords
Like always hard working people get screwed. Even good landlords get screwed
The market determines the cost (or price) of rent. If the supply decreases and the demand increases the price will increase. it is called ECON 101.
Yeah, I don’t know where these people get the idea that there’s a housing market crash coming. How? If housing prices start to fall then it’s just going to bring the price range down to where the people that Have been waiting will buy.
This is getting way out of control it also hitting us in Hawaii UNAFFORDABLE!!!
Real Estate should not be treated like a financial investment and more like a commodity
and what would be the benefit of that?
The government needs to step in and cap rent increases or atleast have some reasonable scale. 40% increase is devastating to those people
Socialism?
I despise our real estate system in this country pure GREEEEEEEEEEEED
This wouldn't be happening if the government stayed out of the real estate business and not imposed moratoriums on landlords to receive no rent for two years yet was expected to pay taxes, insurance, repairs and utilities. Many landlords lost their properties. Most landlords are just small mom and pop landlords who couldn't afford these rent moratoriums. I blame the government for sticking their nose where it doesn't belong and forcing landlords to basically support their tenants! Now people like you blame the landlord when you should be blaming the government!
I live in the interior BC Canada where costs are high. We pay 2400$ per month nothing included.
However, if the Landlord wants to raise the rent after, it can only be done once a year and at the allowed percentage. Right now it’s 1.5 percent.
his repair costs, taxes, and insurance certainly go up more than that. I PREDICT that soon there wont be any available rentals there in the future because you cant survive loosing money like that. Why would any new rentals be built if you cant raise prices that are fair and equitable, Should be at least 7-10% in years like the past 3
God bless you Diamond. I pray that God blesses you with home ownership!!!
1 year lease or month to month, either way the tenant gets screwed over in this despicable rent spikes
Bad reporting: what's the average rent for that area for similar home/unit? When was the last rent increase? Was it last year, three yrs ago or more? In the past, what was the average increase low, middle high or none? Did this tenant pay on time? Or did they miss or made late payments during covid? Is there a full deposit or half the normal amount? Is she willing do sign a 1 yr lease or is this a month- to- month rate increase? I think it ALL should be taken into consideration?
Is the owner wasting his money on increased taxes and homeowners insurance?
Damn, these landlords and property management companies are greedy as hell! I understand raising prices because of the high demand, but raising rent over 20 percent is absurbed!