Very high rent increases every year
Pros
Great location, great super and maintenance staff
Cons
Unreasonably high rent increases every year; landlord only allow 1 year leases; over 8% rent increases every year
Advice to the owners
Focus less on profit and more on retaining great tenants
Exorbitant rent increases recently, targeting families and long term tenants
Pros
Great close-knit community of neighbors. Building superintendent (live-in) and maintenance team are great, very responsive and effective. Handy to have a bike storage room and laundry in the building.
Cons
Fenix Living (management company) have increased rent 7-8% two years in a row and seem to be on track to continue doing so without regard for long term residents, some of whom have been here for a decade or longer. This is especially disruptive for families with young children, many of whom did not expect to have to relocate soon after moving in. These increases, which haven't exactly been reflected in upgrading the building itself, and the unwillingness to offer leases longer than 1 year should be a warning signal to prospective renters looking for stability.
Advice to the owners
Listen to your long-term renters who have cared for and cultivated the community in this building. We are not asking for anything outrageous, and your actions and unwillingness to talk demonstrate a complete lack of regard for your residents.
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