Submitted by Index_Positive t3_11tch9h in jerseycity
Just anticipating the renewal offer for a 1br. For people who live or have lived at the VYV apartments, what were your rent increases after a year?
Comments
Index_Positive OP t1_jciq6h9 wrote
I’ve been hearing 10% too. But with construction starting i’m hoping it’s going to be less.
kiw14 t1_jcjzz0f wrote
Keep hoping
bpannap t1_jcqk4g2 wrote
10-13% annual increase. Was paying $3k 2021 to $3.3k in 2022 to renewal offer of $3.7k
Index_Positive OP t1_je103a1 wrote
Just received. Exactly as you said.
njkid30 t1_jcigtf5 wrote
Play your cards right and you can negotiate down to like 6. Especially in that place if you are going to have deal with multiple construction projects for the next year or two
bodhipooh t1_jcir7ag wrote
>multiple construction projects for the next year or two
hahahahaha!!!! lmao. Dude, that entire parking lot is going to be a construction zone for 15-20 years, at least. There are 10+ buildings going up in that area. The original plans called for 15 residential buildings, but I believe the latest revision includes only 12 or 13.
njkid30 t1_jcivwi0 wrote
Hey as long as they can improve that shit hole of a ShopRite they can down whatever
Jahooodie t1_jclmvnx wrote
In before people become nastalgic for the good old days of the shoprite- you know, before the oligarch wars, COVIDSV 37 pandemic, and the climate change levy system blocked the views
Index_Positive OP t1_jcipns5 wrote
I hope so. I was bracing for the worst since it’s a managed building and they usually don’t care about retaining existing tenants. Wouldn’t even let me sign a two year last year.
Miringanes t1_jcloiqt wrote
I learned from my management company that the two year vs one year option is highly dependent on how many leases are on the same cycle. They basically don’t want a whole bunch of leases coming up at the same time so software optimizes the spread and will let them know what duration they should offer.
fastAFguy t1_jd53csm wrote
Live in housing built pre-1998 and don’t have to worry about this racket. Why anyone is paying more than $3,000 a month in rent in Jersey City is mind blowing to me. 🤯
smrb t1_jegtyuc wrote
im at 90 columbus and just got a renewal package. +8% - 10% based on the renewal length.
akowz t1_jciff1x wrote
Ah man we are seriously thinking of moving to vyv because they seem the most sane downtown pricing (probably because they're not directly or indirectly owned by Ironstate Development Company or Veris Residential, unlike essentially all other downtown places).
The rest of downtown jersey city has, in all instance I know of, over 10% increases this year.