Submitted by archetype1 t3_120tq4m in rva
Just curious. We got our renewal letter for our Legend Properties apartment. Went up 6.5% from last renewal. A little surprising as I expected the big bump last year, but the increase in 2022 was only 3.6%.
EDIT: Thanks for the replies. Based on the submitted answers (n=30) this very informal poll reflects a 12.25% average rent increase for 2023.
Ours went up by 50%, we moved.
Holy shit, who did you rent from that tried to pull that crap?
Shockoe Commons tried to raise ours by 30% last year. Idk what company owns the complex
This is a shitty but common practice property management companies do when they want to get someone out of a property so they can turn and renovate a unit usually and charge more or just to get a new tenant and charge more.
The unit was already renovated right before we moved in the year before.
There could be other reasons, but increasing rent at absurd rates is a legal loophole for landlords to get tenants to leave. Not saying this is your case.
I rent from Legend too and just renewed my lease. My rent went from $1189 to $1299. A pretty significant jump. And they don’t allow you to renew for two years anymore, just one. I’ve rented from them for 9 years and this is the first time my rent jumped more than 4% and haven’t allowed 2 year renewals.
Considering my homeowners insurance went up $500 from $900 to $1400 plus another $600 in property taxes, I'd say they are being reasonable. This isn't even taking into consideration labor and material increases for maintenance
Yeah, comparing a payment increase on something YOU OWN because it appreciated in value to someone’s rent going up is pretty tone deaf.
See my comment below. It's not all about appreciation in value but the cost of maintaining the property. A $100ish increase a month is netting a landlord no income increase. Would you expect they just eat that as a loss? If I owned properties and had a good tenant I'd do the same thing. Explain the cost going up, even lay out exactly the increases and say I'd like you to stay but this is what it costs this year more now.
If you don't like it I guess you could go live in a tent and pay nothing, I don't know what your ideal solution is here
Where did I say rent should never go up? I don’t buy for one second that some of the rent increases people are talking about here cover what you’re talking about in a way that’s not straight up exploitative.
“If you don’t like it, too bad, shut up” is basically what you’re saying here. I own, so this doesn’t actually affect me, but excuse me for having the temerity to care about other people I guess.
ETA My ideal solution is “don’t exploit people.”
I take it you still didn't read the other comment I posted below.
Yeah, i saw it, and it doesn’t really address what I’m talking about.
Put the comments together then I don't understand. I agree there are predators. My only point for an increase is based on cost increase not greed. OPs rate going up 6-10% is on par with actual cost increases. There's nothing to do about that. 40% move until there's some form of enforceable rent control
I think you’re comment speaks to the same thing everyone is pointing out: Housing costs shouldn’t fluctuate so rapidly for anyone. It is simply a bad thing for society.
Also if you can’t recognize the advantage of owing vs. renting and concede the point that renters are taken advantage of in ways owners aren’t, I don’t know what to say.
Landlords are parasites on society shut up.
I agree there are too many slumlords and abusers of the system but It's not always in someone's interest to buy.
I would never move to a new city and buy without living there for a year and assessing the areas. College students aren't going to buy a house to go to school for a few years. People who have catastrophic damages at their homes need to rent somewhere while repairs happen (insurance pays for the rental). Safety concerns with a spouse or live in partner creating the need to move out and rent.
Your blanket statement is asinine.
Obligatory, not a landlord
We were offered 10% increase.
I’ve moved every year the past five years. It absolutely sucks, but my rent goes down every year and I get a change of scenery.
I appreciate your bit of positivity in this shit show of a situation. I'm just excited to move this year to get a place with central A/C and a dishwasher
Only 1.01%, thank goodness.
15% with Gumenick yet the current listings for new applicants is almost $60 less than I pay. Not sure how that works
Gumenick tried to raise my rent by 20%, I set up an appointment with the property manager to discuss and they emailed me later that day offering a 6% increase instead
I was speaking with someone last night who told me they toogot a renewal reduction after speaking with the property mgr at PQ but they would not entertain that at Wellsmith.
I’m scared now, I live in the condo style apartments in Libbie Mill, have a feeling the jump is going to be equally insane and they likely won’t entertain a reduction request. I straight up would not be able to afford a 20% increase. In truth I thought even moving in it was a little out of budget, but my GF loved it so here we are.
Those condos were crazy expensive when they opened last summer.
I fucking hate renting, but I’m only 9 months out of college so the idea of buying is about 5+ years out at least
Edit: also, tbf, for the square footage / location / amenities/ the market it’s expensive but could’ve been worse based on the searches we were making
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Mine was evaluated in Dec for Feb renewal but when Feb came, the open apartments were cheaper and they would not reconsider despite me be an established resident for 4 years and no issues.
Yikes. Mines coming up in august, that doesn’t bode well for me… my rent is already ridiculous. Might consider moving if the jump is that high…
If you’re considering buying one of the townhomes, just know the HOA fee is 220/month. Kinda wild for Richmond.
I was looking to buy a townhome/condo over there when they released new ones but I’m sure the prices this time around will be insane.
12% 🙃
I bought a house because rent is only ever going to go up. People moving in from nova and apartments being built all over.
I did too. Virginia is an absolute nightmare as a renter. The laws in this state are so slanted in favor of landlords it's absurd/obscene. You are absolutely 100% at their mercy with little to no recourse if they decide to fuck you. A couple winters with a broken heat pump and a big annual rent increase as a cherry on top was all the motivation I needed.
There shouldn’t be laws dictating private agreements other than what’s agreed to is enforced and doesn’t have negative externalities on a third party.
If somebody’s property is suddenly worth more due to xyz reason, they should have the right to charge what they want for it just like any renter should have the right to refuse to rent the property
ah yes because having no rules has worked out great in the past. The early 1900s tenement housing was such a high point in our nation.
It’s not about outcome. It’s about what’s right.
I am actually really curious as to how can ignore the outcome in deciding what is right. I would agree in principle for most things, but this is housing and should be treated like the necessary-to-life thing it is because there are no other alternatives. Unlike say, water, which as a society we generally agree should be as low a cost as possible and come into our HOMES despite there being additional private options. There just are so few public options for housing.
At this point we have a massive chunk of our society who can’t get a seat at the other side of the table in these private deals due to nothing but being born too late. That ain’t right. I am not saying a landlord cant set their rent, but surely you have to see why some kind of protection for the renter should exist in concert with that.
If we depend on the good-will of landlords you make renters the frog and landlords the scorpion. I dont even fault a landlord for raising the rent, its the nature of the game, thats why we need to change the rules.
Housing is “necessary” the same way owning a car is, but it’s also property and it’s scarce/finite. I don’t love the idea of public housing, but that’s a more just solution imo. Or a low income housing tax credit.
Housing is undeniably far more necessary than a car
More? Sure. Technically necessary? Not actually.
What the hell is wrong with you? Humans need housing.
My man wants to go back to the good ole days...feudalism...oh wait the lords still provided housing for the serfs. You may want to stop kissing your Ayn Rand books every time you go to bed but yeah these takes of yours are ghoulish.
“ Serfs had more rights than slaves (for example, serfs could own property). However, they were not completely free. They could not move, marry, or leave the manor without the lord’s permission. In most serfdoms, serfs were legally part of the land. If the land was sold, they were sold with it.”
Yes, that’s exactly what I described Mr. strawman
you really need this don't you? I feel sorry for you.
Ad hominem.
Best of luck to you. I'm sorry and I hope you can see the world in a kinder light.
That’s what we’re saying…
i think ive resolved i need to move out of the area to get to a place professionally where i can come back and buy a house later. its so fucked up and upsetting.
This is exactly what I'm doing this summer. Thankfully I get to keep my pay and transfer anywhere there's openings in the country. All just to build equity somewhere else before finally settling back down here when the price is right.
0.00%
7%
I bought a house out of spite last October cause my rent went from $1500 to $2000 for a 2 bedroom in shockoe bottom.
Must be nice to have spite money
Oh, don't worry. I'm well aware of how privileged I am
In the news they keep saying rent prices have begun "creeping down" but, anecdotally, everyone I know who is renting is continuing to experience increases.
I wonder if that’s Richmond-specific. I wouldn’t be surprised if that was a larger trend, but the outrageous real estate tax increases in Richmond have got to be driving the rents up. I can’t imagine landlords aren’t passing those new expenses directly on to the tenants.
0% so thankful for my private landlord right now
13%, no w/d or A/C. And they are charging 295 as a “lease renewal fee”
Do you rent from KRS, because this has big KRS energy
Lol no, I rent from The Property Shop
Was paying 1200 for 1br1b. Going up roughly $200 for a one year lease renewal.
9% and I’m grateful it wasn’t more
Same. Our landlord sent us a letter basically saying, "We could have raised it more but we didn't, you're welcome ¯\_(ツ)_/¯"
PRG. Offered a renewal at a lower rate actually. We pay $1,835 now and it drops to $1,774 if we renew. But I'm moving so 🤷 anyone who wants a pretty new 2/2 hit me up lol
Dobrin bought the house we were renting in Randolph, rent went up $900, or 60%. We did not renew the lease
How do you like Randolph? I was thinking of getting a place by the Jones park.
Lived there for 8 years, loved where I lived but people say some areas of it are kinda rough. Great walk-ability to the fan, Texas beach, and Byrd park. Every neighbor I had was friendly, plenty of parking. Just not paying the prices that dobrin is charging, and they seem to own all the rentals in the neighborhood
Ours went up by $5. I think after the many, many maintenance requests we’ve had to file this year and how they can only do the bare minimum since the owner won’t return any firm of communication that they’re throwing us a bone.
23% ($1,055 to $1,300 for a 1b with no dishwasher or in-unit washer/dryer)
3.8%, also Legend Property Group.
Rent went up 13.7%, from $805 to $915
6.6%, two bedroom/one bath in the fan from a private landlord who is also a realtor. Glad it wasn't more. We have central air, a w/d, and a small fenced yard.
My lease stipulates 5% per year. Started at $1225 in 2020 I made a deal with them for $1375 for this year. Renewal comes up in September but imma try to buy.
Speaking of which, where can I get a 2/2 house with a fenced yard and a garage for under $300k without moving to the county?😭
Serious answer is near the section 8 housing (the “courts”) in the East End. Some of the areas around Mosby Court are decently close to the VCU hospital and still have options <300k.
Yeah I already live pretty close to that area, between Fairfield and Fairmont but here's hoping I can find a decent place 🤞
It's the garage that's going to be the issue imo. And possibly the second full bathroom.
I'm flexible on the bathroom, but I've been working on my cars on my back in the grass in my backyard for 3 years so it's time for some walls and a lift🤣
Let me know when you find out.
I just looked at Zillow out of curiosity. There are quite of few homes under 300 near Reedy Creek and the surrounding areas, but no garages
southside city/swansboro/woodhaven
woodhaven especially has big lots and often garages
10 %, which isn't much considering what it SHOULD cost if we just adjust for other inflation.
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i cant math but ours is going from $1325 up to $1600. last year they only raised it $50 so we were shocked. have to move back in w my mom :-/ eff u evernest
My rent remained the same but only because it increased 32% in 2022
10% increase for a 13 month lease
Got a measly raise of 150 a month. Only for my rent to go up by the same price. It took me years of shitty landlords like Billy Jefferson and Brian Hall to find a good landlord. At least it’s not a shitty management company and a decent landlord who isn’t fleecing me by raising rent every year. I do miss the days of my bungalow in Maymont when it was 750 a month rent, as recently as 2016.
ours went up %16 in the fan, our hope is to buy this year
mine went up $100 a month last year, which was the first increase in 4 years. hoping it won’t go up again this year.
Mine went up $400 a month last year. It better not go up again.
17%, 300 dollars. I wrote an email with the problems we’ve had, and they responded back that they submitted a Rent negotiation/reduction request to management. Hopefully we get something out of that, I’m not very optimistic though. Still saving and waiting for the right moment to get a house, this may accelerate our home-buying process considerably.
4% here
$50
Not rent but my property tax went up 23% on my house this year.. in Hanover.. the land of don’t tread on me and any excuse to charge a tax and piss the money away
smafreebird t1_jdjwcgl wrote
10% with no dishwasher or w/d. richmond real babyyyy