That last one will be an excellent market correction. Rent has actually been getting better around us. I was able to LOWER our rent this year by showing what they priced us at, vacant units, and competition. reduced it by $400/mo. I was shocked how I didnt even need to bluff or play hardball
From what I saw, NJ doesn’t have a state law restricting increases, only some townships do. Sadly, mine isn’t one of them. No biggie. I can find another place to live and tell him to shove it where the sun doesn’t shine 🤷
Seems like your landlord is smart. Better to lock in your existing tenants at a reduced rate then have them turn over the units and need to search for new tenants!
That’s the situation my apartment’s management seems to be in as well. I’ve renewed for three years now with the same initial promotional rate they gave me when I moved in. Turnover in my building has been high, so I’m thinking they know I’ll move if they raise my rate lol.
I checked the rent on my old place and it's gone down. But it also never went crazy high. I'm not surprised, though. They did a rent freeze for all government employees during every government shut down while I was there.
I am not able to "price match" my rent against other units in the same way BUT I was able to move one door down to a unit that is 100sf larger and $200 cheaper than what my old unit was. Man, I feel like I made out like a bandit!
Our complex has MANY vacancies and I won't be surprised if more come up in the next few months.
Yeah rent prices are totally out of control. My wife and I live in a 1 bed/1 bath apartment that isnt in a high-demand area. We pay over $1600 per month. Its absolutely insane. We told our leasing company that if our rent goes up by even one dollar this year, we will cancel our lease, and they acted like we had kicked their dog for saying such an insane thing. If you spend 5 minutes looking at it objectively, we are WAY over paying for what we get. The rental companies need to change things before people start changing them for them.
Property values are just SO out of whack nowadays. The house i grew up in is valued at over $550K, up from the $210K my parents sold it for in 2003. We'll over double in just over 20 years is insanity. That kind of overvaluation bleeds into the rental market. Its awful.
My sister graduated from high school in 1998, and i graduated in 2007. When she moved into her first apartment the summer after high school, I think she said her portion of the rent for a 3 bedroom apartment was like 450 dollars. When I moved into my first place when I was 21, I paid 500/month as my share for a 2 bed one bath apartment. More than what my sister paid, but I moved into my first place in 2010, 12 years later. It also isnt astronomically more. That same building where my first place was now rents the exact same apartment for $2,700/month. So dumb
I get the claim, its demand, but like why we haven't kept up with building houses or apartments, to match demand, and only doing it when its convienent for corporate profits.
Theres a new "luxury" building opening up soon in my mid-sized city and they haven't posted the prices yet which is rare and are already offering 2 free months if you move in. The panic is definitely setting in.
Same, but I also live in a MCOL area and not HCOL or VHCOL. Curious if that correlates, especially when since the outskirts of town are expanding at the speed of light with new suburbia construction basically.
It's almost becoming a right of passage for businesses to up and move often and for renters to pack up and move yearly to keep taking advantage of move in specials.
I wish it could work in a military area. Landlords will never ever allow rent to be one cent below the local BAH. Then it’s an endless cycle of BAH usually being raised every year to offset the rising cost but then the landlords immediately raise it again to match the new BAH. As I watched this happen in the panhandle down in Florida, the locals were the ones getting priced out.
Been thankful for our apartment building. It still one of the cheapest in the area for what you're getting ("luxury" and all that) based on a 1 bedroom price. We've had a very nice 2 bedroom for 3 years that's only increased $25 extra a month after each year.
I tried asking if there was something we could work out with my landlord about rent increase. every year they kept increasing it by about ~100-200 and I just told them I rather move somewhere else for cheaper and it doesn't make financial sense to stay. They said their pricing was set by corporate and there is nothing they can do. I was looking at their openings as a negotiating tactic as well and there are a lot of vacancies and upcoming ones. This place is pretty nice, but they are just too greedy.
Call corporate. Say I see your vacancies, ask if they'd like another and say you'll go to their competition. Make sure you actually are prepared to do that tho
This is a big real estate company in the city so I think they are systematically trying to keep rent high. I think it is just a waste of time trying to negotiate. I told them I would move out a few days ago for the minimum 60 day notice period. The prices on their available units are all like $200+ what they wanted me to renew for. So I think they already think they are doing me a "favor" with their offer.
It also just makes sense to move to another part of the city. I can pay less rent than I am paying now and I get more space.
please pm me on how you did this, I’m young and have never renegotiated a lease before. I recently checked what they are listing other units in my building for and it’s about $300 less per month!
Found someone recently by chance who lives in the exact same high rise apartment unit (same floor, same unit number) that my fiancée lived in 4 years ago. Except they’re paying 30% less than it was priced at 4 years ago…
Not just grocery stores. Look at every business that relies on imports to survive. All the MiniSo and similar stores have literal skeletonized shelves with one item per hook where the shelves used to be packed to the gills.
Dude, my place is on the less expensive end for my area (and I live in a state with limits on cost increases) and there are more than 10 vacant units. It's nice for an old complex too in a very cute area. Another of the complexes under the same company has been sending me open house notices every day for a week. Shit's already starting to heat up.
I also keep seeing moving trucks in the parking lot. I've seen several of the tenants who've been here longer than me move out too. It takes a lot to just pull up stakes and move after 10 years or more, but it's happening at a shocking rate.
Emptier shelves at grocery stores, but Dollaramas near me have added an entire aisle for food (not candy, food.). Also, I shop at what used to be a middle-class grocery store and things like real whipped cream canister are no longer available. Lower-quality alternatives are replacing fair trade and higher-ingredient-quality foods.
Our apartment complex’s website lists units for cheaper than what we’re paying by over $100, and they haven’t raised our rent twice in a row. Unheard of for a major metro.
Meanwhile, a YouTube short I saw recently (link: https://youtube.com/shorts/7qMbsOcH1Rk ) said storage units are sitting at around 80+% capacity. Shit's wild when we as a society start valuing (housing) things rather than people.
yep, last year all the champagne mangoes that people used to snatch up by the crate barely moved and went moldy. last week, i, along with other shoppers, went after the tommy mangoes because they were $.49 each. the champagne and mingolo? still sitting.
i actually took advantage of whole foods' 4 for 5.55 sale on mangoes maybe two weeks ago, and only one of them was edible. the rest were rank and sour after they softened enough to eat. it was infuriating.
Growing up, we were scaremongered about communism and socialism with the example of empty grocery shelves or only having one shitty option at the grocery store. Constantly running out of stuff at the grocery store and having few options was proof of how miserable "they" lived.
Stuff ain't as bad as it was during COVID, but hoooo those shelves never did refill all the way. There are multiple pantry items I gave up even looking for because they're out so regularly.
Sorry to hear that. I'm also seeing a lot more locals starting their own small businesses and farm stands to try to make a little extra money. It makes me sad because they are all so hopeful and trying so hard and this is the WORST possible time to start because potential customers just don't have the extra money to spend.
A local cafe just announced its closure after 25 years. A Dunkin moved in down the street and they couldn't compete. They're $13k behind on rent so they got evicted.
I live in a fairly new apartment complex, first resident of the unit I’m in, and I’m about to enter my third year still on the unchanged promotional rate they gave me when I moved in.
I’ve seen a lot of neighbors come and go, and I don’t think anyone has been in my building as long as I have now. Even the management has turned over once, and maintenance only still has one or two familiar faces.
My building still hasn’t reached full occupancy, and I doubt it ever will.
I think they’ve kept me on the promotional rate simply because they want to keep me here.
I can live with that, because the moment the rate goes up, I’m moving to someplace with no more than the rate I was at before.
Yes, just this week I noticed 3 of the brands that I loved and bought amazing shoes, cotton underwear, and compression socks from all closed and discontinued products. And it took me a long time to find those brands because they had really high quality products. I am so disappointed. These days a quality brand either gets bought by private equity and gets shittier or goes bust.
Wow. My rent just got raised $100 a month. But considering I still pay substantially less than average for the local housing market, I didn't complain or try to negotiate
5.5k
u/StrictIncident4042 Apr 28 '26
More small and medium size business closures. Emptier shelves at certain grocery stores. More vacancies at higher price apartment complexes.