I moved into my apartment and was given a month free, spread out over 12 months. Well, demand has gone up, and now the area makes my unit worth 20% more (other complexes are showing the same). Currently I live in a suburban district just off the city with amenities, parks, trails, shopping centers. There's not really traffic, it's a pretty area, and I've really liked it here. But a 20% premium is insane.
For the same amount as my current rent (or 20% less than the new renewal rate), I can move inside the city (again) with a concessions rate. I could have a nice view, same sq. footage, free parking, no app/admin fee, free guest parking, gym, usual amenities of a city apartment.
TL;DR The thing is, if I move to this new place, I will have to move again in a year anyways due to the renewal rate and the lack of a concessions discount.
Is this normal? Do people just eat the increase in renewal and live with it? I don't necessarily want to move each year since that has its associated costs, but is that just how it's going to be if I don't want to get screwed over in rent cost?
Moving costs + security deposit ... makes me wonder if I really even save long-term if I move.
Submitted March 11, 2021 at 04:31PM by GeekPlaya https://ift.tt/3eImu6T
