Thursday, July 12, 2012

Rent Hike

I just learned from my landlord that it's time to renew our lease, and they're probably going to jack up our rent by $100 per month, possibly more (but probably "just" the $100). This is how that conversation went:

Me: "So, is there any specific reason for the increase?"

Landlord: "Well, there is a lot more demand for our units than there was a year ago. We are completely full, and the waiting list is packed, so we think we are probably underselling ourselves at the moment." 

Me: "So there are no new costs or anything? That would be a lot easier to swallow - you know, higher property taxes, so we have to recoup our losses through rent increases, etc..."

Landlord: "No, it's really just that we would like to make as much money as possible, and we realize that people will pay more than they currently are to live here. So, we're going to start charging more."

Me: Stunned silence at his stark greediness and disregard for others. "Huh. Guess there's no way to argue that. Thanks for being honest, I guess, but have you considered how a policy like that affects tenants like us, who have been faithful in making regular payments, never once late, and being good tenants? I've created a budget plan for the next year that doesn't include an extra $1,200 in rent on top of what we already pay..."

Landlord: "We understand that this will be inconvenient for a lot of people. Just this morning, I increased another tenant's rent by $300 per month. Believe me, he was not happy."

Me: "I can imagine..."

Landlord: "In the end, we are about making money, and this is the best way for us to do that."

To paraphrase: We want to rake in the cash as fast as possible, and we really don't care about our tenants.

Awesome.

1 comment:

Jill said...

Greed is ugly. Very ugly.

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