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haele

(12,647 posts)
7. An new apartment complex owner did that where we used to live
Mon May 27, 2019, 01:19 AM
May 2019

He had long-term tenants who were paying half of what newer tenants were being forced to pay when they moved in because local regulations didn't allow more than 5% a year, even on month to month leases. For six months, he started evicting the older tenants because "his son and new wife", or "his sister needed a place while she was starting her new business", or " his aunt just retired and needed to leave her old home she couldn't afford" - kicking out families who had lived there over 20 years, and a recent widow who had raised her family over the past 30 years in the same apartment - ten residents in total. And then, he started "remodeling" those apartments, while those family members supposedly were living in them, and afterwards rented them out for twice what the previous tenants were paying -and about 20%more than the rest of us were paying.
He then informed us other tenants that he was renovating our apartments because of code issues he "found" with the other apartments...and everyone could see the writing on the wall, as it were.
He was spending about $1500 per apartment to paint the walls, spray new enamel on the tub/shower unite, replace the countertops and the window ac units, all of which he got second hand or at auction, and up the rents due to the renovation.

The entire complex, 32 units, all had new tenants over the course of a year paying significantly more per unit with minimal effort on his part.
And that's how most landlords get around rent control.
I understand that they need to get sufficient revenue form their tenants, but it's tough when landlords seem to be more interested in profiteering far above any inflationary costs to them than holding steady while still making a pretty comfortable living.

Haele

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