Rent increase. I have been waiting for this to happen

Bretrick

Bretrick

Well-known Member
Location
Perth Western Australia
My rent was raised 8% today.
Seems to me that because others are doing it, everyone gets in on the rort.
I live in a complex of 30 units, the approximate total rent received is over $330,000 a year.
The owner of this complex also owns other units, 124 in total, plus multiple houses. He is a now retired real estate agent.
Something I notice is that Real Estate agents have portfolios of how ever many properties. Seems there is some sort of "Insider" knowledge amongst them.
Buy up places on the cheap and rent them back.
Regards my retired estate agent with his huge portfolio and raising rents. Surely higher rents can not be justified. It comes back to greed, the more people have, the more they want. Best way for that to happen is to fleece the general public.
Gordon Gekko said - "Greed is Good"
 

He is also getting the rise in inflation we are on all the products he uses, gas, food, insurance, taxes, medical care, on and on. Yes he is well off but I am sure he worked just as hard for his life as we have ours. It would be the right thing to do NOT to raise the rent if he can continue without doing so. Who knows he may have lost a great deal in the stock market.
 
I hate real estate people. Why, you say? Those b......... were the cause of house price bidding wars which allowed some silly people to pay thousands of dollars over the asking price. They should all be put in jail as dangerous criminal elements.
 
Here are the top 20 increases by city in the US, as of April 2022.

20. Savannah, GA​

  • Increase in overall rent value 2021-2022: 24.4%
  • Median rent cost (February 2022): $1,430
  • Population: 381,623
  • Percentage of renters: 54.6%

19. Asheville, NC​

  • Increase in overall rent value 2021-2022: 24.7%
  • Median rent cost (February 2022): $1,219
  • Population: 449,937
  • Percentage of renters: 47.2%

18. Santa Fe, NM​

  • Increase in overall rent value 2021-2022: 25.2%
  • Median rent cost (February 2022): $1,686
  • Population: 148,917
  • Percentage of renters: 34.9%

17. Jacksonville, FL​

  • Increase in overall rent value 2021-2022: 25.3%
  • Median rent cost (February 2022): $1,520
  • Population: 1,475,386
  • Percentage of renters: 41.5%

16. Palm Bay-Melbourne-Titusville, FL​

  • Increase in overall rent value 2021-2022: 25.4%
  • Median rent cost (February 2022): $1,633
  • Population: 576,808
  • Percentage of renters: 31.3%

15. Hilton Head Island-Bluffton, SC​

  • Increase in overall rent value 2021-2022: 25.7%
  • Median rent cost (February 2022): $1,639
  • Population: 210,558
  • Percentage of renters: 28.6%

14. Las Vegas-Henderson-Paradise, NV​

  • Increase in overall rent value 2021-2022: 25.8%
  • Median rent cost (February 2022): $1,640
  • Population: 2,141,574
  • Percentage of renters: 47.7%

13. Clarksville, TN-KY​

  • Increase in overall rent value 2021-2022: 26.5%
  • Median rent cost (February 2022): $1,342
  • Population: 282,994
  • Percentage of renters: 44.3%

12. Phoenix-Mesa-Chandler, AZ​

  • Increase in overall rent value 2021-2022: 27.5%
  • Median rent cost (February 2022): $1,729
  • Population: 4,673,634
  • Percentage of renters: 45.9%

11. Knoxville, TN​

  • Increase in overall rent value 2021-2022: 27.6%
  • Median rent cost (February 2022): $1,283
  • Population: 868,499
  • Percentage of renters: 53.8%

10. Waco, TX​

  • Increase in overall rent value 2021-2022: 27.8%
  • Median rent cost (February 2022): $1,243
  • Population: 265,728
  • Percentage of renters: 49.7%

9. Orlando-Kissimmee-Sanford, FL​

  • Increase in overall rent value 2021-2022: 28.3%
  • Median rent cost (February 2022): $1,718
  • Population: 2,450,261
  • Percentage of renters: 63.8%

8. Crestview-Fort Walton Beach-Destin, FL​

  • Increase in overall rent value 2021-2022: 29.3%
  • Median rent cost (February 2022): $1,737
  • Population: 266,595
  • Percentage of renters: 40.9%

7. Lakeland-Winter Haven, FL​

  • Increase in overall rent value 2021-2022: 30.2%
  • Median rent cost (February 2022): $1,415
  • Population: 668,671
  • Percentage of renters: 45.2%

6. Miami-Fort Lauderdale-Pompano Beach, FL​

  • Increase in overall rent value 2021-2022: 30.6%
  • Median rent cost (February 2022): $2,022
  • Population: 6,070,944
  • Percentage of renters: 66.7%

5. Tampa-St. Petersburg-Clearwater, FL​

  • Increase in overall rent value 2021-2022: 30.7%
  • Median rent cost (February 2022): $1,722
  • Population: 3,030,047
  • Percentage of renters: 48.7%

4. Cape Coral-Fort Myers, FL​

  • Increase in overall rent value 2021-2022: 38.6%
  • Median rent cost (February 2022): $1,741
  • Population: 718,679
  • Percentage of renters: 32.4%

3. Port St. Lucie, FL​

  • Increase in overall rent value 2021-2022: 40.4%
  • Median rent cost (February 2022): $2,067
  • Population: 463,172
  • Percentage of renters: 26.1%

2. North Port-Sarasota-Bradenton, FL​

  • Increase in overall rent value 2021-2022: 46.5%
  • Median rent cost (February 2022): $2,129
  • Population: 785,997
  • Percentage of renters: 28.1%

1. Naples-Marco Island, FL​

  • Increase in overall rent value 2021-2022: 51.6%
  • Median rent cost (February 2022): $2,236
  • Population: 363,922
  • Percentage of renters: 25.8%
 
I listed my house today, but still haven't decided where I will be moving to. South Carolina is my first choice followed by Tennessee. Maybe I will go back to Florida where I started my career. I liked Pensacola, but it's a very busy area.
 
I have a friend in Jacksonville, Florida that is paying $1,610.00/month for a very nice 1 bedroom apartment.

He complains mightily about the rent, but the fact is he picked it over some much cheaper and less attractive options.

I pay less than half of that amount, but I also pay by putting up with the noise and inconvenience of living in an older outdated inner-city building.

I don't begrudge landlords a reward for the sacrifices that they made and the risks that they took to buy property.

Landlord or tenant, our lives are the sum total of the choices we've made.

"Do what you can, with what you have, where you are." - Theodore Roosevelt
 
Bretrick said:
My rent was raised 8% today.
Seems to me that because others are doing it, everyone gets in on the rort.
I live in a complex of 30 units, the approximate total rent received is over $330,000 a year.
The owner of this complex also owns other units, 124 in total, plus multiple houses. He is a now retired real estate agent.
Something I notice is that Real Estate agents have portfolios of how ever many properties. Seems there is some sort of "Insider" knowledge amongst them.
Buy up places on the cheap and rent them back.
Regards my retired estate agent with his huge portfolio and raising rents. Surely higher rents can not be justified. It comes back to greed, the more people have, the more they want. Best way for that to happen is to fleece the general public.
Gordon Gekko said - "Greed is Good"
Click to expand...
Gordon Gekko was the most despicable character ever and initiated a negative change in the world I never thought would happen again. :mad:

rich morn.jpg
 
Aunt Bea said:
I have a friend in Jacksonville, Florida that is paying $1,610.00/month for a very nice 1 bedroom apartment.

He complains mightily about the rent, but the fact is he picked it over some much cheaper and less attractive options.

I pay less than half of that amount, but I also pay by putting up with the noise and inconvenience of living in an older outdated inner-city building.

I don't begrudge landlords a reward for the sacrifices that they made and the risks that they took to buy property.

Landlord or tenant, our lives are the sum total of the choices we've made.

"Do what you can, with what you have, where you are." - Theodore Roosevelt
Click to expand...
I am paying US$713 a month.
When someone owns over 150 properties surely that is going to far.
As I said, the more they have, the more they want
 
Aunt Bea said:
I have a friend in Jacksonville, Florida that is paying $1,610.00/month for a very nice 1 bedroom apartment.

He complains mightily about the rent, but the fact is he picked it over some much cheaper and less attractive options.

I pay less than half of that amount, but I also pay by putting up with the noise and inconvenience of living in an older outdated inner-city building.

I don't begrudge landlords a reward for the sacrifices that they made and the risks that they took to buy property.

Landlord or tenant, our lives are the sum total of the choices we've made.

"Do what you can, with what you have, where you are." - Theodore Roosevelt
Click to expand...
that's the average rent in London.. you wouldn't get anything luxurious for that
 
We have been ok here. We pay about 600 equivalent to U.S. $ the last 4 years. There is a lot of street noise day and night including the screech of the tram which is just a block away. I live in a densly populated urban slum TBH. Both some unsavory types as well as some students and elderly poor rent in the buildings around us, a few families with young children also. Many different ethnicities, so it is an interresing experience of life. In between the buildings at the back is a large inner courtyard fora little parking but it has become a veg garden in the green part, with a couple of trees which is a real blessing, we even have a nightengale out there amongst the seagulls! Bless your homes wherever you live, I hope for better times ahead.
 
We are in a mobile home community. We own our home but pay a rent for the lot fee. At the moment the landlord is trying to go to the rent review board to get the tenants to pay for new roadwork. Some want to fight it as it is maintenance. If successful we expect an increase of minimum $50 month.
 
chic said:
Gordon Gekko was the most despicable character ever and initiated a negative change in the world I never thought would happen again. :mad:

View attachment 225281
Click to expand...

Or not. Here's a link to a web site that has the facts. In America, 21% of the rich and the not so rich, inherit wealth.

Inherited wealth in America

As for the high rents, as the old saying goes "you couldn't pay me to be a landlord" in today's world.
 
My rent is supposed to go from 715.00 to 800.00. The garage is going from 40.00 to 60.00. The water from 20.00 to 30.00. We also pay renter's insurance and mine is 22.00. we pay electric, and gas for heat, too.

I wish I could find a less expensive place but I get subsidized housing and have a dog and other places that take dogs and subsidies are very hard to find now.
 
I live in subsidized housing also and my rent goes up a little bit every year.....unless I have medical expenses. It went up twelve dollars this year and I am thankful that is all it went up. That is more than most years. My son pays $550. monthly for a large two room apartment. It is not the best apartment building but his rent has not gone up since he moved there in 2018. He has a cat and had to pay a deposit for him when he moved in.
 
Buckeye said:
Or not. Here's a link to a web site that has the facts. In America, 21% of the rich and the not so rich, inherit wealth.

Inherited wealth in America

As for the high rents, as the old saying goes "you couldn't pay me to be a landlord" in today's world.
Click to expand...
I was a landlord for 18 years to help pay off my land. Got disgusted with what renters kept doing to the house for me to repair and sold it.
 

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