Rent increase is very high
Pros
-The area is unbeatable. -The apartments are small but well laid out. -concierge Jacob is the best. -Neighbors are friendly
Cons
-Laundry room usually dirty. -the gym is small and very dirty. -the sundeck smells. -there is a construction on Remsen street that is very loud. -rent increase is ridiculously high. Management does not seek concessions with tenants and do not give solutions if you want to stay.
Great place to live
Pros
Excellent & friendly building staff, nice building and apartments have great views
Cons
Equity Residential increases the rent by a lot each year for existing tenants which makes moving to a new unit in the same building less expensive than staying in your own unit, which is quite backwards. There also are monthly fees that add up and are not typical of other rental agreements
Advice to the owners
Do not increase existing tenant rent by double digit %s each year when the unit would not rent for that much to a new renter