$300 rent increase shocks Knoxville man as rates rise across the US
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- Опубликовано: 2 май 2022
- If you are renting an apartment and your lease is up soon, you may expect to see a big increase in your rent.
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I own a few properties in Iowa and one in Pensacola FL. Never raised rent on a tenant or charged for application fees or late fees. Always gave the full deposit back. I try to not stress people financially especially if they are college students or have kids. In return the leave my property in better shape than I gave it to them. I could have made a few thousands more squeezing every penny out of them, but the sense of reward I get by treating them like humans is priceless to me.
God bless you for that
Your blessed!! God knows that Sir!!
You're part of the problem of rising costs
Cool story bro.
@@Syhbw you're telling me that the tenant costs that much more in wear and tear?
Everything went up except Salary.
then you increase your skillset so you can earn more. I made minimum wage then became a hairdresser (I'm not college material) and was able to buy a house, pay it off 16 years early as a single mom with 2 kids. You do what you have to do to make what you want to happen.
@@eckankar7756 Thank you for pulling yourself up by your bootstraps! SOOOO many people want handouts with minimum wage. Liberal communists. The job market is great if you are willing to work for it!
@@eckankar7756 Cool story. Doesn't change that wages are stagnant. 😕
@@MRWEDAWEST if your wage doesn't change then YOU change. Learn more so you can earn more. Learn a skill that will earn you more money.
@@eckankar7756 Great advice. Doesn't change that wages are stagnant. 😕
God help our elders! This is so sad to see!
Retired people are more fortunate than most people, they can move to more affordable areas without concern for the job market. In the case of this gentleman he could move to a more affordable area and not have to work part time.
I'm 69, I bought my house working as a hairdresser. I paid off my 30 year mortgage in 14 years as a single mom with 2 kids. Why didn't so many others my age not buy a house when they were SO affordable and easy to qualify for???
@@eckankar7756 what about home repair?
@@ursulasmith6402 What about it? There is maintenance like with your vacuum cleaner, dishwasher, car, etc...why would there magically NOT be home repair? If you rent you pay for repair every month in your rent check before anything goes wrong. Tenants pay for 100% of repairs it's added into the rent payment. At least home owners don't have the mortgage or rent. I've lived in my home for decades, I replaced the air conditioner which I anticipated and saved up for over the years.
@@steven4315 It is more difficult for them to do the physical move, leave their doctors, family and friends that provide support, find a new place to move, pay for moving and upfront move in expenses, find new doctors, isolation from their support system as getting older need assistance from family and friends is valued. Still, they don't have to worry about a job, that's true.
The nerve of people blaming this old man. My prayers are with you sir.
Somethings gotta break eventually. A system like this cannot sustain itself for long.
exactly, these are irrational times brought to you by covid19..
@@tmm226 It's more than some virus, this crap has been going on since 2008!
People can't afford to buy due to soaring interest rates and overvalued houses. They also cant' afford the astronomical rent!!! This is so unfair!!
@@erinpeacexo1854 People voted for this. Not much we can do to help them.
God help us all..
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
I recommend considering a diversification strategy for your financial portfolio due to the increased complexity since the 2008 crash and COVID. My colleague hired an advisor and successfully grew her portfolio by over $120K during this turbulent market by using defensive strategies to protect and profit from market fluctuations.
@@LionTowercoporation Can I ask you to recommend this particular coach you using their service?
@@LionTowercoporation Insightful... I curiously looked up her name on the internet and I found her site and i must say she seems proficient, thanks for sharing,
This is so sad how can people eat or pay any other bills ...greed is tearing this country down fast !
It is all by design unfortunately, the devil doesn't want anyone to ever have what was our God given right in this world. Many often ask why doesn't the Almighty God do something, it is because he gave us all freewill. But humans became selfish and greedy and wanted the pleasures this world offered, even if it meant throwing our brother's and sister's under the bus.
This is only the beginning of sorrows, I pray you know that there is a greater good to come out of all this and that you know our Creator. For those who have turned their backs on God are getting all the Heaven they will ever know here on this earth. It was put on my heart to tell you this. Prayers and Blessings for you and your's.
Amen
How do they eat? Well for the kids…Oodles of noodles, spaghetti, rice & beans, or pb & j….or boxes of Mac & cheese. For me, I’ve been eating only cucumbers and apples for the last two months. Working doubles 5 days a week.
This is happening across the USA. It's heartbreaking to see how many hardworking, intelligent, good souls that are heading to homelessness.
We love abandoned and vacant property with adverse possession and quick deeds titles claim on fast track.
a man buy lands and becoming a paper owner. He lefts for the country for some times.
Later .... he heard a beautiful place from the news. The place has been developed many thing and becoming tourist attractions and many people dreamland. But the man remembered that places is belong to him in paper. He told the people of the lands that in paper I am rightful owner. What would the people do?
1. Do the people recognize his claims the lands belong.to him and return back.
2. Send the man to mental hospital or death sentence .
Either way the man cliamed the people stole his property.
That's why we loves abandoned or vacant property. Adverse possession and quick deeds titles claim..
How about small towns in the midwest, away from population/manufacturing/industrial centers? There also?
@@broadcasttttable I don't know about little towns. But often huge cities have raised rent to unaffordable levels. And if you stay in a small town, commute to city for work, the cost of gas is too much.
I agree & it isn't right! Something needs to change..💔😔💔
@@naudianeels1328 let's do something and change it like sri Lanka and Ukraine and Afghanistan. This greedy bankruptcy nation needs to changed and new nation Islamic Emirate states of America. Rest with better laws. Sharia laws.
This is exactly why I'm moving into my mom's basement, due to high rent, I'd rather help my mom pay off her mortgage by giving her the extra money than making someone else rich
Stay with mommy as long as u can!
Save money!
Yesssssssss
Yep that’s right helping your mom and you will be helping yourself
This is smart
Privilege. Some people have no parents to move in with.. 😂😂😂
My rent is going up by $600, and I am 75 and living on Social Security. Like this gentleman, I am being
forced to try to find a job in order to face what is coming; and finding a job is proving to be a challenge.
Bless your heart… how absolutely terrible…
good luck, I hope you find something you enjoy doing.
How come you don't have your own home?
Wow you’re screwed! Is why I bought a house with fixed mortgage
Im taking notes.
I appreciate the news story, but it's very irritating when news anchors are smiling (like they are delivery happy news!) when they are reporting this. People are stressed out and hurting everywhere and being gouged into poverty. Reporting this story should not be delivered with a smile on your face. Just annoying.
Greed is rampant...yearly rent cap is needed
No it isn’t. The govt has zero business in private business affairs and should never be able to tell a business owner how much money they can or cannot make. You think owning property is a charity, it’s not.
@@dcg590 so your solution is to increase the rent so much so that most folks can't afford it and become homeless or can't afford bare essentials,, so that you can make a profit. Profit over people. Hmmm...
@@dcg590 Government does have the right to regulate rent prices. Housing for all program which means build housing for everyone will also reduce costs.
@@dcg590 How do property owners make money if people can't even meet the 3x rent requirement? Do they just make money from tax credits?
This is outrageous! They are trapping people. This is sad because most elders are on a fixed income.
yes- We own a 55 plus senior complex- we raise rent once a year by 35.00 dollars a month just to cover our property tax and maint- expenses. Most tenants have a fragile financial threshold. I'd like to think that we are among the fair and decent providers.
Some people also retiree with no money. If you don't have at least 250k don't retire. Simple
Same here in NC 😡 Rent doubled. Heading South but I really feel for the seniors 🙏🏿🇺🇲
I am blessed to pay $525 for a studio apartment everything included in Raleigh NC near NC STATE in a good area.I don't plan on moving anytime soon.Good luck to you.
…I inherited a duplex from my parents and the neighborhood has gotten a bit edgy. Because of that, my eldest sister tried to get me sell the house and to move to an apartment out by her in the suburbs. Trouble is, my co-workers after they retired did something like that and now they are in the same situation as the people mentioned in the news clip. Rising rents and low income. I have a paid off house and rent coming from upstairs, why would I dump everything to move to a much smaller place full of restrictions just to keep her happy? I have a garden, pets, hobbies and can do what I want when I want. If I move into an apartment, all of that is gone…
Exactly. Don't do it. People will offer you a bad deal just because they can.
You are blessed with security 🙏🏾 don’t let them bully you.
You are blessed. Does your sister pay your bills? Then she has 0 say 🙄 unless she's going to pay your rent!!!!
You better stay put rent cost more than a home.
Put bars on your windows & doors!
lets not forget we are leaving an 18 mo + period where landlords were prohibited from evictions, and tenants chose not to pay rent (FOR OVER A YEAR),
Nobody got free rent, or the government made up most of that to landlords that filed the proper forms. I am such a landlord. Most rent increases are to renters who have never missed a payment, and it's how it works. It is tough, it is cold, it is capitalism. Once in a while, you will find a landlord that has a heart. Good luck with that.
The people that did pay their rent during the pandemic are being treated.unfair.why should the innocent pay for the guilty.not right
@@wreckim
The government did not send the money directly to landlords. Tenants got the money and kept it. From a landlord with this problem
@@zhaw4821 I'm sure you are right in many instances. I was referring to all the types of relief in general. In Los Angeles, if landlords accept 80% of the rent, I believe it goes straight to them. You have to admit that being a landlord was not such a bad thing when property values went up 30% plus. Unlike 2009, when everything went down the toilet.
@@wreckim
It has nothing to do with the value of the property. You can't buy ANYTHING without cash in HAND. in 2009 a lot of people lost their homes because of poor choices on their part. At the same time, others became wealthy buying them.
Doesn't matter where you live regardless of the state it's going up all over people are being taken advantage of there's no reason for this
True.
My son got the same letter from his apartment complex, but it was a $600 increase
Mine got a $500 increase in Indianapolis, IN. The greed cancer is spreading nationwide.
😱
I am blessed and pay $525 for a studio apartment everything included in Raleigh NC near NC STATE.
Wow!, where does he live?
@@loisaustin6200 , Republicans in Indiana constantly fighting rent control. Vote them out
This is just freaking ridiculous!
If at ALL Possible, NEVER RENT. If you can, get a house, even if it is a fixer upper and renovate at your own speed. Renting is a dead end street and you are at the mercy of landlords or corporations squeezing out every dime from you. You are throwing your hard earned money out the window. You'll never own a single brick. I was single with 2 kids and managed to buy a house. I sacrificed for 30 years to pay it off. Never ever owned a new car during all that time, shopped for clothes and shoes at the thrift stores and used coupons for groceries. I even rented out a 2 rooms in a separate part of the house, closed off from my part, and collected rent from the tenants. It paid my house note each month. I did the renting for about 10 years until my work salary became better. I had daycare expenses during those 10 years too. BUT I paid it off and was able to treat myself to a new car in 2014. I'm retired now with house and car paid off and I'm able to make it on Social Security. Only thing I have to pay is yearly property taxes. So, get in a house as soon as you possibly can, if you can. Your equity will increase as the years go on and if you need repairs, you can get a home equity loan. So many benefits to owning your own place. No one can pull the rug out from under you with rent increases. One more thing, NEVER get a mortgage with an adjustable interest rate. BAD move. I had a friend do that and she ended up with a jacked up monthly mortgage. Get a FIXED mortgage rate so your payment will be the same each month. the only thing that might change some is homeowners insurance rates. Mine was never a huge increase, probably 50 to 100 dollars over the years, but by then my income was very good. So, just some friendly advice for everyone.
Thank you for your advice. You're Godly.
The Fed kept rates low for so long, investors are cornering the market with cash buys and cranking up the rent. Rich or Not, I'm not retiring in the USA. The cost of living in the US is Disgusting and I'm around 35 years from retirement age. I can't imagine how bad it's going to get with a command and control economy via the Fed.
But retiring somewhere else and not putting your retirement money back into the American economy just hurts Americans even more.
@@bev7236 America couldn't care less about its own US Citizens. That's the problem. If this nation doesn't show loyalty to its people then people shouldn't reciprocate that either. Why pledge to a nation that's fine with you sleeping on a bench?? NOPE!
@@benvarela4472 But the people that rule the people in US are ones the people elected. Too many people voting for the wrong people. Or, they vote for good ones but the good ones get bought out by $$. It's all corrupt, both sides .. but I don't know any other place that isn't, do you?
@@bev7236 The Phillipines offers a far better life for Retirees. Dollar goes much further there or Thailand & even Cambodia
I went down to Rosarito Beach Mexico about 4 months ago.Federal army convoys rolled thru the street hourly.I did not see 1 California plated car.Going into the 7/11 for my coffee I was eyeballed & felt like a kidnapping was in my future.
I am 62 & drive a 16 year old pickup truck & I did not feel safe.
The last time I visited that area was in 1990.Things have really changed.If you think things are bad here,in other countries like Mexico,Nicaragua,Honduras even Costa Rica they are getting hit with this climate change crisis-DROUGHT.
THEY WILL ALWAYS TAKE CARE OF THEIR OWN BEFORE ANY FOREIGNER.
If he renews and the lease is for 1 year, after the lease is up the property manager will raise the rent again. Probably best to start looking into Vanlife or buying a small RV.
Why didn't he buy a house when they were easy to qualify for and were so cheap? I am his age, I was a single mom with 2 kids and paid off my house 16 years early working as a hairdresser on straight commission. I've not had a mortgage in 25 years. Property tax and insurance is $107. a month in Phoenix. This man sounds smart. Why didn't so many my age buy a home when it was so easy to do back then?
@@eckankar7756 Pat yourself on the back. I guess you never heard of LIFE.
or move out of the U.S..like the Phillipines...
@@davidcolletti7136 And do what for income?
@@eckankar7756 my generation (20 somethings) are going feel all this when they are elderly also!! A good bit are only worried about what they can do RIGHT NOW. When they are elderly most won’t have businesses and good flowing income to sustain them until death.
As long as renters keep paying the increased amounts, it won’t stop. Enough people have to move out in order to get it to stop. Double up, live with family etc……
Once occupancy rates go down, the price of rent will drop like a rock and fast.
I hear a lot of people complaining, but not a lot of action.
People aren't going to "act" just to spite greedy landlords bc there's no Actual NEED. What I'm witnessing is people getting EVICTED bc they are unable* to pay these exorbitant rent costs, and THEN they Have to move in with family. When that happens enough, then the prices will fall again and the housing market will crash like it did in '08. After all, most ppl who rent, can't afford to buy a home, so there will always be a demand for renters, but not a supply at these prices. What goes up must come down.
Democrats will just give the open housing to illegals for free. Can't believe how long some of you are taking to catch up.
No, the more small landlords are run out of business, the less choices will be available, the more people will be forced to take whats left and the higher rents will get.
People shop for rentals and compare prices, remember? Like they shop for anything else.
Please see the title cards on the board game Monopoly for further details.
And I'm so effing sick of hearing about 'greedy landlords'. I'm a small landlord and can't even afford to fill my gas tank today. I have to spend my money repairing the tenants stairs they busted and my own backyard fence is falling down and my own porch is sinking which I can't afford to fix. And I drive a rusty '04 Liberty.
Why isn't the media demonizing the billionaires and the millionaire politicians who created this mess.
Not everyone has family they can move in with or other options to share a place. Many are already trying to just keep some kind of roof over their heads. And often there are not enough apartments available even if you team up with someone to afford the rent, so people are ending up homeless no matter what they do.
@@DimaRakesah no doubt some people are in situations that are very, very difficult and they don’t have options that others have.
My sons rent here in Knox Co went up 300.00 at his North Knox co apt as well. It's awful.
Property tax on rental and apartment properties goes up multiple percent per year. As high as 25% a year. Something nobody seems to want to talk about. Rental apartments use a formula for their rents where 96% occupancy is the goal, along with staggered lease expirations. At 94% occupancy or below is considered bad, and rents have to be lowered. So an apartment complex can only raise rents if someone's willing to pay that, it's a balance because they're also legally bound to certain promises made to investors who fronted the money buy the apartment complex.
My apartment building, owned by a large investment company, saw occupancy drop below 90% occupancy recently and while monthly rent didn't decrease, they gave new renters a 1 month free, then two months free and I think a free $500 debit card. That deal lasted until occupancy hit 94%
Mine went up 600 a month this year and I’m the homeowner. I needed repairs and taxes went up. So far I have something major go wrong every year.
@@joyaustin6581 you get a mail letter showing where your property taxes increased. If it's the assessment you can fight that off, though doubtful it would work in this market.
Florida has a cap on how much your property tax can increase but I think there are ways around that, like the Public School Board scammers increasing their take
So when are the American people going to protest property tax?
@@bev7236 people are the ones voting to increase it. Want a new elementary school, want give teachers a raise, want to get water system updated, new roads and add monuments and flowers to parks? It’s not free
@@joyaustin6581 I don't vote for it. I also help my community by homeschooling my own children, saving taxpayers $13K per child!
He’s gonna have to move outside Knoxville. Due to illness, we struggled to afford the high-end town we lived in, in my family house. It was heartbreaking to leave, but we moved to a low-end but safe area further away. More importantly a lot cheaper.
I had to except…live where you can afford, not where you want.
Or how about there be rent control? Or heighten wages to match inflation and increase in everything
Smart move. Most people aren’t willing to help themselves like this.
@@sashamoore9691
How about government price control on everything? Welcome to communism!
@@sashamoore9691 I remember when fast food workers were pushing so hard for a wage increase to $15/hr. They finally got it, but everything else has increased right along with it. So in the end, they're right back where they started before the increase. Even thrift stores have joined the party by upping their prices too ON STUFF THEY GET FOR FREE!!! One time, I discovered a "unicorn" -- an item with the original price on the bottom, and the thrift store actually charged MORE than when it was brand new!🙄
@@AJourneyOfYourSoul Had no choice but to move. Due to serious illness I couldn’t work anymore..so we only have my Husbands income. A one income household is tricky these days if not impossible. Got lucky and moved to a very inexpensive, safe & beautiful area. Ya gotta compromise and know how to stretch a nickel.
They ought to show some respect to tenants that have been there for a while , paid on time , and kept the place clean . You don’t want to alienate good tenants .
Good tenants are a dime a dozen. Landlords aren't going to lose money just because you did the bare minimum of paying what you owe and not living like a feral beast lol.
300 is nothing south Florida it’s over $800 more most apt is over $2000 just for one bedroom
THIS IS SOOO UNFAIR. WE ARE ALL PAYING FOR THIS PANDEMIC!!!1
exactly, we will pay for covid19 one way or another for years😢😢
That's what people deserve for complying. Should have told them to f-off when they said to wear masks everywhere and take the jab or lose your job. People have no one to blame, but themselves.
It’s getting way out of control
The sad thing is someone else will pay that price. They will also will have no problem getting new applicants. When the experts said don't buy unless you will be living there for at least 5 years, it isn't good advice when inflation kicks in. Even with all the cost of owning you would still come out ahead.
Yep that’s right coming out ahead
This guy lives all these years in what has been historically some of the least expensive place to live (the south), and he never bought a home. Huge mistake.
Pride comes before a fall.
Knoxville not cheap anymore because northerners from Ohio, PA, Michigan,, New York, Chicago keep moving there making a housing shortage.
I'm a mom-and-pop landlord w/ a few properties. I raised the rent $100/mo per unit at the beginning of the year, and my expenses will run at least $80/mo per unit higher than last year. Higher taxes, insurance, HOA fees, maintenance costs, reserves for old appliances & water heaters, etc. My plumber's hourly rate is 60% higher now than pre-pandemic. My general contractor fee is now DOUBLE compared to what he charged 4-5 years ago. Utility bills between tenants is now 20% higher. And to top it all off, a tenant trashed one of my units before moving out.
You can demonize landlords, and some clearly deserve it, but gov't regulations and badly behaving tenants squeezing landlords will only reduce the # of rentals available, which will increase rental prices. If you incentivize something, more of it will be produced. If you penalize something, less of it will be produced. During its rise, communism in Eastern Europe demonized farmers because they were landowners and financially successful, and sent many of them to concentration camps. Lo and behold, less food was produced and the famine that resulted killed millions.
Be careful what you ask for. Free lunches are nice when you have them, but you will definitely regret the uninteneded consequences.
I’m also a landlord in California…I also keep my rents as low as I can, but the reality is that we have to increase rents. I’m raising mine at least 7% right now, because of higher costs of insurance, taxes inflation, maintenance, etc… it blows my mind that people don’t understand the simple concept of how things work in the world. I grew up in a family of renters so I try my best to be compassionate, but some people just want to find someone else to blame for their problems.
The recession is about to kick in hard. Deflation is happening right now and it's only a matter of time that these prices will finally start going down.
Lower inflation it's not deflation.....it is still inflation..!!! ...you went to public school...???
Yep, I cut my driving! Cut my monthly gas bill by $150, I'm helping to deflate the price of gas. Also driving 65, saving more gas. People still passing me doing 80
I know exactly how you feel I live here in Atlanta, in an independent living apartment building for seniors ., when I first moved here in 2018 one bedroom was 740 now in 2022 for the exact same space 900 a month and the HUD subsidy only covers $30 otherwise I would be paying full market value, and I barely get over 1,100 a month on Social Security. Every time we get a cost of living adjustment it goes right back out the door because they increase the rent. And the last time I checked online across the city the average rent here in Atlanta was 1812 for a one-bedroom and I live in a predominantly black neighborhood and they want 1114.00 a month on average for a one bedroom. This problem is happening not just in Knoxville but all over the country for seniors. I remember the last cost of living adjustment When Donald Trump was in office, that was only 1.6% and he was actually bragging about how he's taking care of seniors. There needs to be a separate price index for the senior population. What everyone doesn't realize is the current cost of living adjustment formula is based on working individuals, if you are retired the difference in what you have to pay for rent, food, transportation , Medical Care basically leaves you either spinning your wheels or left behind. There is a proposal to have a cost of living index for the elderly and retired population but every time it comes up for discussion it gets buried in Congress. Which I find so ironic considering the average age of most of the members of Congress is over 50
Good points!
They raised my rent from $875 in 2021 to $1495 in may 2022🤦🏻♀️🤦🏻♀️🤦🏻♀️
That's like a car payment added on.
Too much, take it to court.
DAMN!!!!!!!!
Jesus have mercy!!! Just evil…
What 😱
Prayers for everyone that may be in a situation that they are not used to i pray 🙏 ❤ that you all find a place to stay that you can afford 🙏 ❤
...And that you can really enjoy and call home! 🙏🙏🙏🙏 #Prayers
Landlords have gone absolutely crazy. I don't know how anyone is expected to live these days.
Mine hasn’t, he’s a real person, no middle man I pay 1100,
For a studio , in Northern CA . 14 yrs , he knows I’m here for good , since he built it it’s cheap and paid for . He knows he could gouge me but he couldn’t be w himself . From 750
In 2010 to 1100 in 2024 . Driveway / big yard : private! It’s sad what’s happening!😊
It's happening everywhere in FLA.
If he has a 2 bedroom he could get a roommate and split the rent? God bless him. I pray he has a good solution come his way!
He could but he shouldn't have to. Maybe he uses his extra room as an office, or use the extra room for family/ friends to stay in when they come to visit, plus nothing beats a peace of mind being by yourself.
I consider myself Blessed to have a Great Rent Man!👍 Chattanooga Tennessee, watching 😍
This is happening all over the United States. Apartments in lower Alabama are increasing rent tremendously. I’m just trying to figure out where all the money is coming from. Just thankful for my cheap mortgage. I want a new home but with increase in interest rate I’m priced out the market.
A 25% increase that's pretty crazy, but real inflation is about 20%. So it's about right. I see why the Federal reserve uses equivalent rent lol 🤣
Agree
I live in North Texas. The number of people that have moved to Texas in the past two years is insane. They are paying stupid amounts of money for homes which has made property values skyrocket. Our property taxes doubled this year. Apartment rent has gotten absolutely ridiculous too. I see people on Facebook every day saying they had to move out of their apartment and need a place to stay. People renting homes are being forced out because the home owner wants to sell. Many hone owners are having to sell because they can’t afford the property taxes. It’s sad that you never really get to own property. You don’t make payments on something you own. Elderly people can’t enjoy their retirement. The people that were born and raised here and have lived here their whole life can’t afford to live here. This was caused by people leaving blue states by the millions because they don’t like what they turned their state into. Now they’re voting blue in Texas. Not sure what me and my family will do. We can’t afford to live here anymore and we can’t afford to move.
Texas Taliban. Dirty disgusting state. And I don't believe people are moving there lol. God help especially the woman there.
Are you out of your mind? It's the Republicans who support the corporate greed that is driving this.
The purpose of the Republican party is to protect business from people. The purpose of the Democrat party is to protect people from business. (A happy balance might work best)
Exactly I live in south Texas all my life it’s getting expensive
He has a pretty big apartment. He could speak to management and downsize the apartment size. That size apartment by me would have easily costed way over $2k by me, maybe even close to $3k.
People need to start renting houses an dividing up the rent between them, double up in rooms. Anything to stay off the Streets.
@BanquetOfTheLeviathan If landlords wanna make money they gonna have to start a empty house dont make money. It was done in past, I rented out a basement from 3 girls that rented out a house. I think I paid $200 or $250.those were the days.
That will never work now. Those days will never be allowed again. They will evict everyone. Start all over.
Exactly our reason moved from renting to owning our home. Paying $400 less then renting for 3 bedroom 2 bath 15 year old home a lot bigger sq ft from 2 bedroom 2 bth 900 sq ft. As soon as received rent noticed increase we look for home and moved out.
It is not financially safe to retire as a renter. Nor do you want to retire in a mobile home where somebody else owns the land under you.
Our rent went up $500 this year.
Shameful.
Experienced the same.
Get Ready Folks!! Rent is going up AGAIN IN 2023 according to realtors and property mgrs I've spoken with in recent months. It will slowly spread throughout ALL states according to their information.
Please have a plan in place.
There will be the most unlikely people among the homeless as this greed continue.
There is no more money. Where into negative gdp already, plus fed is actively looking for $90B/month to burn off the books totalling $8T. Prices will soon collapse and civil unrest will rise. Patience and good luck.
He paying 25,000 for just one year.
property tax increased more than 40 percent.
No it didn’t
At 67 years old, he should have bought something when he was younger, and conditions in the USA were much easier for home buyers. Is it possible he made decisions that he now must live with?
I don’t think people understand that this is because of the moratorium. People had money coming in but decided to screw landlords over. A lot of people didn’t know how a moratorium actually worked. Once it is lifted, you have to pay ALL of that money back in one lump sum.
It sucks for the people who were consistently paying because now they have to deal with the mess other people caused.
Yep! It's so frustrating, me and my family paid rent during the entirety of the COVID pandemic shutdowns, and we got unemployment for a total of 2 months rather than the maximum like some people..
So how are so many ppl completely oblivious to the fact that EVERYTHING is going up in price? Are they walking around with their eyes closed?
Property taxes have almost doubled across the United States in the last 5 years. My property taxes were 590.00 in 2015 and now it's 1350.00. that's in 8 years. That's just one bill. It's everywhere in the united States not just appartments..Also most people who live in apartments don't pay water / sewer bills with either. Mine is 170.00 which was 81.00 in 2011..it's 3 times more expensive to heat a home versus a apartment ..it's not just renters who are hurting
I wonder if he could offer to work around his complex, maybe keep the handball court clean, offer to manage competitions, or something else. In exchange he gets paid $150 - $200 per month. A win for both sides?
At his age, 70s, he should've saved for a condominium to move into or began applying for 55+ community housing years ago. His market rate rent was due to increase either way. Doesn't make sense to continue working and paying rent increases while you're at retirement age. Hope everything works in his favor.
I agree. I wish ppl wld think about their future. Ppl live for today not for tmmr.
His wife may have divorced him and took all his savings and house, you just don't know people's situations. Nothing is for sure except God and taxes.
You can’t judge him, because you don’t know his whole story.
He could have had an illness that wiped out his savings which isn’t hard in the good old US of A. It’s time to stop blaming the working class, and look into our “ elected officials “ and the beds they share with all of these corporations because they certainly do not work for us. Otherwise, these ridiculous laws and protections for corporations would not exist.
Owning a condo is not necessarily a solution , you've got property taxes that increase, HOA fees that go up and special assessments that could cause you to lose the condo if you are just barely making it . Even a paid off home can become a money pit/nightmare if a roof fails or some other huge expense comes along , and many old folks don't want the hassle of home upkeep and would rather have the services that an apartment provides. I guess in his situation he might qualify for public housing or a sec 8 fee reduction someplace assuming he can get on a waiting list. It's sad but quite a few old folks in this guy's situation first go homeless ,, and end up killing themselves out of despiration..
This is happening everywhere. I reside in Richmond Virginia and my rent increased $300; however I moved.
It’s not just the big cities pricing out people, small town America is getting pricey as well.
This absolutely has got to stop one way or another this cannot continue
Notice to vacate is part of the lease. Standard practice in 50 states.
Increased taxes on properties drive rental business costs along with repair services. My (reliable) repair men cost 60-80% more compared to 2 years ago if they can get the parts. Utilities too!
It’s crappy but businesses can’t run at a loss. Banks won’t finance them (commercial loans often reset every 5 years) so prepare for a lot more pain the coming years.
This is insane and should not happen anywhere due to greed and inhuman treatment toward people.
Damn, his rent sounds cheap. Costs 2 grand or more for a studio apartment where I live in Northern California. 😞
He's actually lucky. Some rents are more than doubling in some places. It has nothing to do with inflation. They're just gouging renters because they can.
There are lots of places where retired people can afford to live. First rule: go to where the jobs ain't.
lol
You make it sound so easy. Where, pray tell, are these heaven sent affordable places? Inquiring minds would love to know.
@@loisaustin6200 I read a comment the other day that a 2 bedroom apartment is about 800 a month in Evansville Indiana. The bad news is it's in Evansville, Indiana. Just kidding I live near there and it's not a bad city, and to be honest 800 sounds high. Everybodies means, wants and needs are different. Me and my wife are on SS and live just fine without touching our savings. I don't want to tell anybody where or how to live, but if you don't need a job your options are greater.
That’s just common sense really. Retired people can live anywhere. Why live in a city?
@@highbrass3749 There are low cost cities, but they are not on the waterfront with perfect weather.
Government raising property values and taxes. Then insurance raising prices for insurance. People are screwed.
Gentrification of poor and middle class neighborhoods is a big reason for homelessness. Here in Nashville TN. an efficiency apartment or one bedroom start at around $1700 a month. This is in neighborhoods where rents were $500 a few years ago. Then people wonder why there is so much crime.🤔
I think a lot of people need to just stop renting and just buy their own homes then maybe they’ll drop their rates back to normal I understand some people can’t afford to own their own homes but the amount of money you put into renting you could’ve put that into your house and if you don’t want a house you can buy a co-op I understand a lot of people took advantage of not paying the rent due to the pandemic because I know coworkers who have apartment buildings or homes that they rent out to people and they are renting out to people who were in the healthcare field nurses ,surgical techs and they were refusing to pay they’re sitting there getting free housing and saving their money it’s really sad I understand a lot of things were not because of Covid.food & gas everything I just feel like a lot of this money they shelled out because of this pandemic now people have to suffer to make it back up that’s why I say all these things are giving away “” for free it’s not really free you gonna pay it back and look we’re paying it back now
My rent is going up 340$ in July I’m single over 60 I’m devastated I’m in WA state
Why didn't you buy an affordable home decades ago when it was so easy to buy?? I am 69 and so glad I bought a small home. I paid off my 30 year mortgage in 14 years working as a hairdresser with 2 kids. After paying off the mortgage that monthly payment amount went into savings and investments.
@@eckankar7756 you don’t know her situation. Not everyone gets approved for a loan by the bank. We don’t know her situation!
@@beautyRest1 she had decades to get an approval, she could have gotten a better job or cheaper home, she chose not to participate in her own well being and now she's playing victim. She's the little pig that built the house of straw and the wolf is at the door. Too late for her, but not others. She's a warning what NOT to do with your life. Young people:::: DON'T END UP LIKE SHE HAS.
@@beautyRest1 There are all sorts of reasons why. But it's called life. I have no beef with landlords at all raising the prices to whatever they chose. But I do believe in helping Americans more than illegals and Ukrainians.
@@wanaraz
Americans have to help themselves. Everything would be MORE expensive if it wasn't for the illegals
It’s sad for those renting and on a fixed income.
Landlords want that rent they lost during the pandemic outbreak of 2020. Even though the government had already compensated for their loses. I’m a landlord and I have friends who own property and the government took pretty good care of us supplementing our tenants shortages to pay. Why landlords and property owners are raising their rents so high is a mystery and more than likely to get ‘low income government stipend’ tenants out and move in higher income tenants.
300 is nothing south Florida it’s over $800 more most apt is 2000 just for one bedroom
Why do people pay 2,000 for a 1 bedroom move into a fifth wheel rv much better geez
@@chrisrawls3746 I'm seeing these 67 year olds driving 5th wheels around...my god...run. RV parks are hiking their rent, too.
@@eckankar7756 I live in Dallas, tx my fifth wheel has a king Size bed, full kitchen, hardwood floors and a fireplace, full couch, love seat, and recliner and a table that seats 6. It's 2018 I paid a bit over 30k gently used. My lot payment in a great area is 600.00 per month this includes water, sewage, wifi and cable. Plus electric which is about 80 bucks a month. So all in for about 700.00 per month. I have no children, or I wouldn't live in a fifth wheel. I'd have a house with a yard, for the kids and dogs. I bedroom apartments in a good area start at 1,500 a month plus utilities. A 2 bedroom starts at 1,700. no way I'd rather keep more of my 💰 ...
@@chrisrawls3746 I get it. Your lot rent is cheap and expenses low it is much more affordable than renting an apartment. An RV does depreciate over time vs a house that appreciates but if you are able to continue to put money away towards retirement it's a good plan. A friend of mine has a single wide with a built on work room in a very nice mobile home park and loves it there. Her lot rent is about $850. which is half what a smaller apartment would be in her area.
We all have our own comfort zones. Yours is saving money now, mine was working overtime and making double house payments to pay off a 30 year mortgage in 14 years. I've had no mortgage in about 20 years now. Currently my taxes and insurance is $107. a month. After paying off the house I continued making the "mortgage payments" to a savings account. I'm going into retirement and for me, security has always been my motivator. things happen, but I've done my best to put the odds in my favor of a peaceful old age.
@@eckankar7756 I hear you and just read everything you wrote. My fifth wheel will drop like a rock and I'm 41 years old. I figure if I get several years out of the rv for 30k I'm OK with that. I too save a few thousand a month like clock work and have since turning 31, 10 years ago I got serious about being able to retire between 58 and 60 years of age. I simply don't want all the maintenance that comes with owning a home. I travel out of the country twice a year for vacation down time andi don't like debit at all. I'm anti debt 😆 My little sister and my cousin both live in 3,500 sqft suburban custom homes they trade in their new 50,000 vehicles every 2 years and don't save a dime. In fact if they lost income for more than 3 weeks they would be forced to start selling their stuff. They hate me for being able to take 14 day trips to Hawaii at least every other year, because they can't. I like having extra spending money and savings. They apparently like debt up to their eyeballs. To each their own. Goodluck to you and your retirement goals!
And no one will help us
so we help ourselves.
Stop voting democRAT if you want real help.
At first glance, I thought Don Dare was actually Bob Barker. I had to go back and check.
This man needs to look into downsizing.
How? People have been downsizing and paying high rent for small rooms. The comments usually say live where he lives for rent he had been paying for a bigger place. The LCOL areas are seeing these increased rents. Trailer home spots are seeing increased rents or bought by corporations. Affordable housing places are on the news about price increases.
This is what happens when Corporations buy up apartment complexes & their greed has no boundaries.
That's baloney
@@wanaraz Wanna bet.?Why do you think Jared Kushners corporation bought 750 million dollars worth of apartment complexes on the east coast,with a tax payer funded Fanny Mac loan.?
This guy's are greedy & ruthless & don't give 2 shits about your American dream.
@@wanaraz Baloney my foot….
@@jatall2797 There is no such thing as greed. There is only Business. The American way.
My apt complex was bought by a new mgt company. They're now renovating all the apartments and rent is being increased at time of lease renewal.
Property taxes and costs repair going up force landlords to push up rents. For example property taxes go up 26 perecent. So instead of 2400 dollars you pay 3200 dollars. Insurance has gone up a lot because of higher property values. Another 40 percent increase there. Costs of material , repair costs etc gone up. So we can't blame landlords.
They are trying to pass the costs. Also don't forget to include property management fees if any.
Move to California here there only allowed to increase property taxes at no more than 2% a year.
@@futurus777 California has very high property tax. 12k on 1 million home . Here in South much lower. It is about max 6k here .
What do you expect to happen when you deny rent for over a year to renters this will happen. Blame the states if your upset for holding off needed rent from landlords.
How about if landlords actually joined the workforce and stopped hoarding properties from the market we'd be in a better position. The housing market would stabilize and the laborforce would have adequate employment numbers. Instead we have a mass influx of labor dodging investors purchasing dozens of properties and ruining the economic condition. We all can't be professional sports players, this is a fact we all agree upon right? So why is it that we have a staggering number of new landlords now. We can't all be investor's, this creates a huge unbalanced economy.
Who did he vote for? ......
He could buy a $250,000 house in Knoxville with a PITI payment of about $1350 to $1400. The down payment would be 3% ($7500).
Your numbers are right but they don't give loans away anymore even if you have 1/3 down. Banks have tightened up since the debacle years back.
@@wanaraz Not to mention we don't even know about that man's background. He may or may not qualify for a mortgage.
Then he's got property taxes, lawn mowing, roof failures , hvac failures ...lots of folks rent because it's less hassle than owning a home.
@@markbajek2541 Less hassle but nothing to show for it after rental.
@@markbajek2541 you must be a very lazy boy if lawn mowing is such a huge issue to you. And fixing a roof is much less hassle than becoming homeless in your old age. Plus you can always buy an appartment. Thinking like that will take you right to the situation that guy is in but it will be too late then...
If this can happen then incomes HAVE to go up at the same rate. There is no compromise
Then you increase your skillset so you can earn more. We are reimbursed for the value we bring to the workplace. I had a neighbor that was a nursing assistant in a hospital for 27 years. Her employer offered free RN tuition but she didn't want to do it. 27 years doing the same job and making low pay she complained. She was still only providing the same work she did nearly 30 years ago. One of her peers became an RN for free and later became a physician. If you want to earn more you have to be willing to become more.
@@eckankar7756 why should someone have to spend time and generally money for more money but home prices and rent go up based on how a feels it should be? Sorry rent shouldn’t be based on a whim.
@@theilliad4298 What planet are you from??? Haven't you been reading the news, what's going on globally and why prices are climbing every where and on every thing. What an ridiculous thing to guess prices are going up on a whim.
@@eckankar7756 this is rent . It’s a whim based on what the owner wants. It’s everywhere because PEOPLE CAN GET AWAY WITH IT. What else is going on? Please explain
New Zealand does that
I live in FWB Florida and our rent went from $965 to $1530 😳😳😳
Outrageous!
300 bucks!!!!! DUDE, you're on EZ STREET!...People are seeing 3,000 bucks like nothing!!..WHAT I SEE is people want the government out of their lives and then they blame government (not in this man's case that I can tell) for their plight! I feel sorry for him...but he is not alone!! I just want to know will the prices decrease if things back off or will things just stay status quo!!
All that xocid stimulus is showing up in the price of everything.
It's just greed they can't tell me they need all that
So how does having more demand then supply affect the amount an existing tenant is charged?
Because another tenant is waiting now to pay more and take your spot. Brother makes 75k a year in Seattle had to sleep in his van until he finally buckled to rent a room with his 2 kids. Thats how limited it is.
10 billion for Ukraine!
Therein lies the tap dancing on very thin ice with morbidly high rent increases, if renters stay they can't afford to save so when the next increase comes around they won't have the money to pay the rent or move, thus homeless, and if they move per the market value they have to move out of their zip code if not the state or take the chance of being homeless. 😐
Exactly. Going through this right now. Tired of having to constantly change my kids schools. They can never feel comfortable. Last year rent went up $200 a month. This year went up $300 a month. Last year I just dealt with the increase because housing was too scarce to find something else. This year it’s just too much and once again we’ll have to move. I’m in Houston though. Rent here has always gone up $50-100 a month at each renewal but now it looks like it’s going up more like $200-300 a month each year.
@@pocahontas4583, I worry for our country and I believe people need to share their housing experiences with others so thank you for doing so. I believe things will get much worse long before we see better days as every facet of housing is tightening yet becoming far more expensive and no state has enough housing to meet its demand. If possible, for I know that is not always the case, but if possible consider moving under one roof with family, not relatives, (for they are not always the same people).
“If the American people allow private banks to control the issue of money, first by inflation, and then by deflation, the banks and corporations that grow up around them will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” - Thomas Jefferson.
During pandemic I paid rent faithfully and now I feel punished. I cannot afford rent anywhere.
Move to Raleigh NC I pay $525 a month.If you can't afford that then you are in serious trouble financially.
That man who must pay $300 more for his monthly rent should seriously consider moving out; and prepare to live inside his vehicle for a few years saving him thousands of dollars a year.
He's old. He has to have a home.
Tf
@@Syhbw Govt assistance is out. First off it takes maybe a year. Second he's the wrong color. Yes he can downsize and move to a different area but for a senior it's not easy to do. I can tell you are young and that's great but think of your grandparents having to move. It would not be easy.
@@Syhbw public housing maybe, but mobile home lot rent payments can just as easily increase... He's in a somewhat affordable area already compared to other areas of the country..
Apartment owners just mad they lost big during the pandemic they trying to make money back, too bad this recession about to put them back in the same place 😂😂😂
They are going to be just fine! The joke is on you!!!!!
My rent just got raised 300 also it's so sad and scary I already lived in my apartment for 2 years and I can't afford to move as single mom of 3 in Seattle Washington this sucks!!
I heard Seattle is a overpriced,overcrowded dump.
@@gregorycyr9272 I'm actually in nice area for now anyways!
@@HeatherSmith-momof4 I live in Raleigh NC and am blessed to pay $525 a month for a studio apartment everything included near NC STATE in a good area.I know that Seattle has a lot of vintage clothing stores that I would love to shop at.
How quickly they forget that 2 1/2 years ago they went on a rent strike and the Government sided with the tenants.
Renting will never be the same.
This,
Now landlords are adding in that risk
@@dougg4633 as well as extreme increases in insurance and property taxes
But what about all those people who paid their rent during that time? Why is everyone being punished?
@@bev7236
The lost rent is passed on to paying renters.
Much like a retail business factor in shrinkage/theft into the pricing of Thier products.
This is not always done by landlords.
But it is a factor that us small landlords need to give thought to
@@dougg4633 I was referring to the original comment, he was saying they did a rent strike, but I was saying not everyone did. If a landlord is raising his price simply because of those that didn't pay during the pandemic, why would he also do that to those that did pay? Regardless, what people do will eventually come back on them I believe. That even goes for landlords who unreasonably raise prices to make extra profit that goes beyond what was really required. You find out a lot about people with how they treat others.
In addition to this, we also have companies (corporations too), that are buying up mobile home parks and raising rents to the absolute limit. The added value of this is that some mobile home owners won't be able to afford their space rent, and vacate, sell or whatever. The park will take over that spot, place a new mobile home on it, making a good profit, PLUS increase the rent space even more. Capitalism is awesome--- For those that have the capital. Please don't lecture me on the difference of those two terms, I know them well.
It's a class war that is shaping up into a let them eat dirt mentality.
Why do you think Jared Kushner bought 750 million dollars in apartment complex,s on the east coast.?
And with the help of a tax-payer subsidized Fanny Mac loan.?
The game is rigged as George Carlin said,& the ELITE don't give a crap about your suffering.
No sh!t. Life is always better for those with money.
You really need to pay attention to apartments in Knoxville, I live in a beautiful complex with a stunning pool, gym, everything you need and my rents not even as much as his. Iv had places in west Knoxville offer me $1500 places that aren’t even close to as nice as mine. You really have to look around.
The sad thing about it is the elders are suffering anymore .Even before this happened I never wanted apartment because they always slowly raise the rent .Now they just double it. I'm trying to encourage a my friends before all this happened to look into buying a house .No one listened and now look what happened. I understand some people don't like to do the maintenance when it comes to a house and that's why you pay people
What did anyone with a brain think was going to happen when the majority of renters didn't pay their rent or lease payments for 12 -24 months and landlords were told to go pound sand?