Sorry to say but your reasearch is off. There are multiple properties on zillow in the area 1bed 1 bath for close to 500K and up (not much renovation needed) and 2 bed 2bath from 700K upwards based on when it was built and facilities

They usually dont care since you dont speak to the landlord directly. Rents are really high because of the way all big property managers are using the same third party for pricing and smaller landlords see that and follow suit although they are more open for discussion for good tenants

Also i strongly feel this is going to end badly as we go into the year . There is no way these kind of high interest rates by Fed doesnt hurt the economy over long term as without the rent decline the inflation does not come down to the 2% mark. This kind of price greed eventually dosent end well for everyone involved

I am not sure how this comment is useful when its already been commented that the tax increase is a few percentage points of the total rent increase based on calculations and does not justify the rent gouging.

In all honesty i am very friendly with the handyman and porters as i have lived here for few years and their wages have not gone up 20% or 40% from what they tell me. Infact they laid off staff during the pandemic and have since not hired the same number of them back to service the building . Even if some hourly inceases are factored in it still does not justify the monthly price increases of 20-25%

> Thanks for sharing . Were you able to get any meanigful response from them
>
>Also do you have any inputs on handling of such cases by jersey city superior court (landlord-tenant)
>
>Jsolomon@jcnj.org

Yes i hears that all big property managers used the same third party system to determine future rents which is biased based on house affordability towards generating highest profits for them and make it sounds the normal rent across everyone for that area

Although im open for landlord to make profit off their properties this is like taking undue advantage akin to some retailer who were selling masks during the pandemic at ridiculously high prices (price gouging) because of supply chain issues until the government intervened

Sorry but thats a poor justification. A 32% tax increase on a 500K property would increase property taxes by 600$ a quarter or 200$ per month which is less than 5% of the rent so there is no comparison to the price gouging