Happened to me. Lived in a building for multiple leases for $1100 -1300 a month over the course of seven years. Next renewal jumped to over $1800 per month. When I asked why, they said, "Because it’s what people are willing to pay. "
Here in NY we have 1 year leases capped at an increase of 3% per year. However landlords can increase rent another 3% if they can show that they had to do upgrades or emergency repairs or some other nonsense. They’ve applied for and received this exemption to double our increase EVERY SINGLE YEAR I’ve lived there, and it seems there is nothing to stop them from doing it every year until the end of time.
The infuriating thing? There are no actual upgrades being done. The roads are constantly full of potholes. The water lines constantly spring leaks. The power is constantly cutting out - brownouts are common, and blackouts happen every winter. We are responsible for paying all our utilities, mowing the lawn, and maintaining our lots, and the office is apparently responsible for nothing and spends nothing upgrading or maintaining the park. But somehow they qualify for that extra 3% increase every single year without fail.
I live in a trailer park owned by Horizon Land Management. There are youtube videos detailing how trailer parks used to be cheap housing for the poor, but now that private equity companies like Horizon are buying them up, they’re raising lot rent sky high and parasitizing the people who are so poor they can’t afford to leave. Trailers were the cheapest housing many of us could afford. Where else could we go? They basically suck the blood out of us like vampires.
Happened to me. Lived in a building for multiple leases for $1100 -1300 a month over the course of seven years. Next renewal jumped to over $1800 per month. When I asked why, they said, "Because it’s what people are willing to pay. "
Here in NY we have 1 year leases capped at an increase of 3% per year. However landlords can increase rent another 3% if they can show that they had to do upgrades or emergency repairs or some other nonsense. They’ve applied for and received this exemption to double our increase EVERY SINGLE YEAR I’ve lived there, and it seems there is nothing to stop them from doing it every year until the end of time.
The infuriating thing? There are no actual upgrades being done. The roads are constantly full of potholes. The water lines constantly spring leaks. The power is constantly cutting out - brownouts are common, and blackouts happen every winter. We are responsible for paying all our utilities, mowing the lawn, and maintaining our lots, and the office is apparently responsible for nothing and spends nothing upgrading or maintaining the park. But somehow they qualify for that extra 3% increase every single year without fail.