Big rent increases
Pros
Staff is amazing. Overall great place to live
Cons
The rent increases make it difficult to feel at home. Rent has increased by almost 60% in 5 years, and even more if you include the covid discounts.
Good life decision, poor financial one
Pros
It's a lovely place to live. The units themselves are mostly constructed very well and are comparatively large. Feels like a real community, my dog loves it. It's very... comfortable.
Cons
My rent increased by 60% in four years. I concede that the first term was atypical (because of COVID depression in the market) and I expected and planned for a significant increase. I did not expect or plan to eventually be given a new lease term where I'm paying $6000+ for this place... The apartments are nice, but there is no version of this world where that's a reasonable amount to ask for. Some idiot will pay it, and they'll point to that and say, "that's market value." But there's nothing spectacular about the building. Certainly nothing has improved with it or my unit. Objectively it's worse because things decline over time. Every month the water to the whole building is just turned off for a whole day, or the heat doesn't work for a week, etc., etc. It's an old building and maintenance is probably very expensive; they're probably passing that off to renters. If that is what's going on, they won't be able to keep this up for much longer. I don't know what number is too absurd. I would think that $7100/mo is well beyond that that figure, but right now on their website, that is what they are asking for an 880 sq. ft. 1BR with truly nothing remarkable about it.
Advice to the owners
I don't know, market value this or that or whatever
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