Rent increases, specifically in the beacon…discussion and advice needed

Submitted by justhrowmeawaydamnit t3_z7ehip in jerseycity

Hey everyone, I’m just wondering what everyone’s input in here is. I’m currently staying at a studio apartment in the beacon and paying 1463 a month (got a pretty sweet deal during Covid), couple that with 200 dollar parking, 85 dollar amenity fee, my overall rent is ~1748 per month. I make about ~90k a year before taxes. It’s also not a bad place and I enjoy it mostly.

However my lease is about to end and need to make a decision whether I want to stay here or not. The cheapest lease option right now is paying 1682 a month for 16 months. The difference is about 219 dollars. However they not only increased rent but also the parking fee which will be 230 per month when my renewal kicks in. So overall my calculations are making it 1997 per month if I renew my lease for next year.

Do you guys think this is a good deal? Am I able to afford living here with my budget? Are they even allowed to increase rent by that much? My gut feeling is to take the cheapest deal because most other studios around here (besides beacon) are 2k at least. Opinions?

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ceeyell t1_iy68swa wrote

That much isn’t worth it at The Beacon, IMO. Plenty of newer studios being built in the area, some closer to the PATH, some without amenity fees, some nicer. If I were you I would look at 55 Jordan, 880 Bergen, MRK, The Altura, The Moxie — there’s just so much inventory out there for studios

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JeromePowellAdmirer t1_iy6wa9j wrote

All would be at least $300 more expensive though. Depends on savings targets whether that's worth it, it's probably worth it but as an "extreme saver" myself idk if it's that much better than the Beacon

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Hazel2468 t1_iy9vm8r wrote

Just popping in to thank u for this comment- looking for potential other options in JC cuz my wife and I really like it here and want to stay.

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Icy_Safe_6428 t1_iy69yx6 wrote

It's still not a bad deal - when I lived there in 2017, I paid 2000 for a studio with WTC view. They waved the amenity fee for us and I never took parking I used to park on the street and alternate it everyday. So in today's dollars that is still not bad. JC downtown and Newport will charge you way more in rent plus 230- 250 parking is standard. Another thing to consider if you are planning to move to JC downtown or in Newport is that the electricity bills in those areas is significantly higher. PSEG told me it's because of the waterfront and the constant winds in the area that lead to very high heating costs. I've paid 500 in peak winter in Newport.

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objectimpermanence t1_iy6fv5p wrote

> Another thing to consider if you are planning to move to JC downtown or in Newport is that the electricity bills in those areas is significantly higher. PSEG told me it’s because of the waterfront and the constant winds in the area that lead to very high heating costs. I’ve paid 500 in peak winter in Newport.

I think what really matters is how well the building was built. I’m in a high rise downtown and my PSEG bill has never been over $60 even though I keep the thermostat at 68-70F whenever I’m home.

I used to live at the Beacon and I think the building I was in was very well insulated. And it helped that it didn’t have PTACs like so many newer buildings do. PTACs can be very inefficient, especially if they’re not maintained properly or if the apartment isn’t insulated or sealed well.

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justhrowmeawaydamnit OP t1_iy6aiyr wrote

This is my thoughts. I have my own car and beacon is pretty close to downtown anyway by driving. I just got a super sweet deal during the pandemic, but it seems now that everything is going back to normal, the price for my kind of studio is also normalized for next year too. I’m also too lazy to look for a new apartment at the moment

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objectimpermanence t1_iy6h0g1 wrote

$1,700 actually doesn’t sound too bad relatively speaking. Especially since it sounds like you actually enjoy living there (many don’t).

When I moved out from there close to 5 years ago, I was paying just under $1,800 for one of their larger studio layouts.

You could probably find something in a newer building nearby for not much more, but other apartments in that price range might not have as many amenities as the Beacon. And none of them will have the landscaped grounds and “gated community” vibe of the Beacon if you care about that.

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justhrowmeawaydamnit OP t1_iy6hnc8 wrote

Thanks for this. It literally feels like I am just now settling in and getting used to everything because I’ve only been here a year, and it’s a pain in the ass to do apartment hunting, so I am 70% leaning into just biting the bullet and pay the increase tbh I’m planning to call tomorrow to set up an appointment for negotiating lower if possible though since the receptionist said the manager was open to it

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jersey385 t1_iy6jo24 wrote

I think it’s a decent deal too. Moving isn’t cheap and the fees these buildings tack on, combined with mostly subpar construction, I don’t know how much better off you really would be.

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Vegetable_River t1_iy6a33k wrote

I agree with the sentiment below. I lived not too far from Beacon, although we did look there. Way too many other units that are closer to trans and have comparable amenities. Take a look around before you decide. Stay away from Parkstone Realty!

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justhrowmeawaydamnit OP t1_iy6ccf6 wrote

I don’t work in NYC so trans is not too important to me….I am planning to talk to management about perhaps negotiating the 16 month lease price lower though. For the most part, I enjoy the beacon mainly because of the underground parking, views of NYC, and gated community

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Front_Guarantee_2915 t1_iy69r7l wrote

Not sure if you're partial to that area or not, but I live in a 2 BR downtown and my rent is 1750. There are a lot of good apartments of you move away from the larger buildings. May not be what you're looking for though.

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SonOfMcGee t1_iy6r0g1 wrote

You might have to ask one of the ghosts to start helping with rent as a roommate.

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justhrowmeawaydamnit OP t1_iy6ra3a wrote

Lol wild as hell that it’s 2022 and people still believe in “ghosts”

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Jahooodie t1_iy9d489 wrote

I'm sorry, but neo hippy spiritualism is a bedrock of the community. Visit one of the several crystal shops on Newark Ave to find out more.

Also if anywhere would be haunted by trauma ghosts it's that hospital.

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justhrowmeawaydamnit OP t1_iyayw4p wrote

Me and the ghosts been chillen for a year then, guess they like to clean my apartment and sing me to sleep since I sleep so well

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