I’m in the market for an apartment. I cannot find anything around 1550. Cheapest I can find is 1700. Still living with my parents at 26 despite working full time. It sucks man.

I’m presuming you don’t qualify for low income?

Yeah, mine jumped $200 this year, and $250 last year for no increase in services.

You really need to contact your local Rent Control Board and ask them about guidelines as it may differ for single, dual or multi family homes.

I don’t. I’m a teacher. I guess I could afford to rent the unit but I can’t really save my money at the same time

First world problems

Check your town website for information on rent control or if you have a tenants board. Or google ‘town+rent increases’. My town in essex count caps the % a landlord can increase per renewal, but I know not all towns have this.

It def sucks but I wonder if your complex was seriously under market for awhile? That’s a big increase but unfortunately it seems on par with market rates.

if your town doesn’t have rent control, you can still try to negotiate it down. I know this is less likely to be effective in an apartment complex but it doesn’t hurt to try. Just because it’s market rate doesn’t mean it’s a fair increase.

If you choose to move out, do your research and find a town with rent control laws. Mine has a 4% cap and it’s great peace of mind. Last year my rent only went up $68 and I’m still paying far below market rate for my location + amenities.

Check this out from the State.

I feel your pain. I live in Morris County, the western part so not as pricy as Morristown, Chatham, etc. My rent went from 1510 to 1665. Which I thought was a lot, but i just looked at the complex website. Which only shows rents if they have units available. My complex is old; built in the late 60's, so very dated. They have been updating units, and were charging about $200 more for those. Not upgrades, but updates.

Anyway, i just saw that my size apartment, starts at $1895, and another w as $100 more, so I'm assuming that's an updated unit. Between that and my recent car payment, I'm paying $400 a month more than I was a few months ago. And like you I can afford it, but not much left over. I also thought about looking elsewhere but rents are comparable, and my complex is actually very good. Between maintenance, snow removal, keeping the grounds nice, and great office staff, i know what I have, and if I moved, i might be able to save a bit, but it may be a shithole.

I hate landlords so damn much. This is ludicrous and I just can’t fathom how much longer people are supposed to just swallow these increases.

this is why i like being a homeowner. u dont worry about rent increases. even if it means a longer commute and buying in a remote part of the state.

since you mentioned you hate landlords themselves , im curious to hear your solution

Yeah, same boat. I just wish I could save to buy a house. This situation leaves me feeling financially insecure.

It seems like my town (Montvale) doesn't have a Rent Control Board

Yeah, I saw this. It's crazy that this is still relevant and it was published in 2008.

check your town, some have their own ordinances on the book, but its rare in bergen. I know fairlawn has a cap on increases, but most towns do not, and fall under the state law.

The state law is vague, but is intended to prevent a landlord from jacking up rent specifically to force someone to move out. 350 a month isn't going to pass the test for it, especially if the landlord can show similar market rate places that have recently rented for that.

Costs for landlords have gone up drastically, and many are still licking wounds from the pandemic\eviction freezes, and now need to factor that into their costs.

Possibly try the county level.

Good idea. Thanks

Why would the government fix anything?

I strongly second this advice, I have been able to negotiate rent increases down on multiple occasions. If you're a good tenant who pays on time and doesn't cause any problems, the value of keeping you in place might outweigh the extra thousand per year or whatever for your landlord.

The worst that can happen is they say no.

Its not all about the landlords, its about poor regulation and updates for inflation. People are always going to charge as much as they can get, and there isnt enough help or available housing. At some point, none of us will own land. Itll just be the banks.

And who will stop them?

>It def sucks but I wonder if your complex was seriously under market for awhile? That’s a big increase but unfortunately it seems on par with market rates.

Yeah, I think my unit was under market and I was lucky to have the rate that I had for so long. It would be awesome to buy, but I'm not sure I have quite enough for a down payment and it's not a great time to buy with the housing market. So hopefully I can find something more affordable. Or I'm just going to be in a situation where I won't be able to save to buy a house and all of my income will be going to renting.

I totally get it. Although I am close to retirement, and have always rented. When I was younger, I never made enough to buy, as well as made some bad financial decisions. Now that I can maybe afford to, prices are so high its not happening. I just am grateful that I can still pay my rent and other bills. I know others who are really struggling.

Its not an issue for you, until its an issue for you. Really hope you get your water tested, arent in a flood zone, and dont have mold, termites, or asbestos.

My man….since the dawn of man kind, people have struggled with finding places to live. For all our brilliant minds and trillions of dollars, no one has come up with a solution that actually works.

And you think I can solve the unsolvable in a single Reddit comment? Adorable.

Here’s a start- things that are necessary to sustain life shouldn’t be profit centers for corporations or governments. How’s that?? Human beings, by right, should be granted the food, shelter, water, and medicine that they require to stay alive. The fact that we have turned all of those things into multi-billion industries is despicable.

So step 1- Federal restrictions on for-profit use of any fundamental, life sustaining, resource.

i mean… yeah those come with the gig. same goes for owning a car. issues can come up at any time.

who said anything about corpos and governments? alot of landlords are homeowners too, especially in NJ.

i cant speak for corpos and LLC owned apartment complexes, nor do i want to defend them.

No. See that’s the issue. Good people aren’t always going to charge as much as they can.

I live in a pretty rural part of NJ and in the summertime there are roadside stands everywhere. Some of them have price tags and are staffed with cashiers and that is fine. The one near me has a metal box with a sticker that says “pay here”. There’s a piece of printer paper in a plastic sleeve with prices scrawled down the side of it. There is a giant sign on the back wall that says this:

“Take what you need, just pay what you can. We are happy to help our neighbors and friends”

Greed isn’t normal and you acting like it is, well it’s part of the problem.

I saw in another comment that you’re a teacher? I married one so I feel your pain about affordability. We were only able to start really saving when we moved in together and could split bills. We have a kid now and are still renting- been trying to buy a house for almost 3 years. We even have a decent down payment and budget but wow this housing market is awful!

Hang in there!

Federal restrictions on for-profit use of any fundamental, life sustaining, resource.

I think that’s pretty damn clear.

I am in Essex County and the apartment complex i lived in was renting 1 bed 1 bath for 1575. I dont know if you live close to Essex or its worth it but maybe you can look.

https://www.trulia.com/c/nj/bloomfield/brookdale-gardens-935-broad-st-bloomfield-nj-07003--2005837297

I will mention to you too since Essex is not that far from Bergen County. The complex i used to live in is renting 1 bed 1 bath from 1575. https://www.trulia.com/c/nj/bloomfield/brookdale-gardens-935-broad-st-bloomfield-nj-07003--2005837297

I dont know if it helps but just passing it on. I dont live there anymore but i feel bad for people who cant afford their rent so i am trying to help.

Do you have to see if the town has a rent control. Usually on the towns website or you could just Google it. Also, if it is, I believe less than half for apartment building they could basically raise you, however much they want. I think you are only protected for a for building apartment and more because my place is a huge building and they could only increased me 5%.

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so if i own a house in NJ, u dont want me to let anyone rent it?

Are you renting it at a reasonable and fair cost that covers the cost to pay the taxes and maintain the property??

Or are you renting it at an unreasonable cost that covers all of the expenses of owning and maintain that home…..plus enough for you to pay most of a mortgage on a second home?

This are two very different things, no?

So your saying that if you move you will have to pay market rate for an apartment, so right now you are paying under the market rate, why is it not fair for the landlord to ask for market rate? If it was drastically over what everyone else is asking thats something different.

it was a yes or no question , but yes those are 2 different things. I think we’re clear now.

Btw if a price really is as unreasonable as you say, people arent going to rent from you. theyll move to another house, or another town before they do that. People arent that dumb, give them some credit.

and who the heck charges enough to afford a second mortgage? Thats actually crazy talk.

Ummmmm literally every landlord in this state??

In my county, my sister owns a home she purchased 6 years ago. Her mortgage payment is $800 a month. The home directly next door to hers, purchased two years before hers and being used as a rental is being leased out at a rate of $2300 PER MONTH.

The home I purchased this year….my mortgage is $1900 a month. And this is for a house on a substantial piece of property. The rental I left 9 months ago was a home 1/2 the size in less than a tenth of the property and I was paying $1700 to rent that place in a really awful and dangerous town.

If people weren’t making huge profits on leasing out properties, why would anyone be doing it?? Who are you kidding?

As to your comment that “no one would lease if it rent was too high” that’s BS and you know it. To get a mortgage and buy a home you need excellent credit, you need thousands and thousands of dollars in savings. You need thousands more in liquid funds. Buying is just not feasible for many people. The alternative is renting.

Landlords don’t need to compete, there is no surplus of housing….there’s a shortage. They have the luxury of pricing their units and whatever they want and people are still begging to be granted leases. It’s because the alternative is homelessness.

i usually dont entertain personal experiences , but $2300 in rent is indeed absurd so fuck em, move on.

and i doubt someone is making a profit on a tenant paying $1700 like you keep claiming. Especially in rural Jersey. You really think some landlord in rural Jersey is making enough from their tenants to afford a 2nd mortgage?

if i decided to rent out my first floor, im not going to do it for 700 or $800 . thats not worth the hassle . its not worth having random ppl in my house . so no , not everyone has the luxury of choosing the price. and furthermore, Nobody is going to pay $3000 for a rental in some impoverished town in So. Jersey

Simple, set a national tax on rental income over a certain percentage of rental cost. For example, if a rental property costs $1,000/month for mortgage/taxes/etc, allow landlords to charge up to $1,200/month with standard taxes. Anything above $1,200 is taxed at 90%.

It's the basic solution to most problems of wealth inequality in this country, except the rich own this country, so it won't happen.

Buddy. Look at what you’re writing. You really want to sit here with a straight face and tell me that landlords aren’t making profits…they are just buying and renting homes out of the goodness of their hearts?

That’s really what you believe???

im not talking about people who invest in property and flip houses , etc for a living. Im talking about the average person who owns 1 home and rents it out.

either there is some serious miscommunication here , or we both fail to acknowledge each others points

it wont happen cuz at that point its not worth the trouble, and then youre back at square one.

See that's why we need massive taxes on massive profits. People will still provide a service for a fair profit, it will just keep people that are greedy out. This idea that business will dry up if people can't become insanely rich is a lie that doesn't play out in any other developed nation with sensible tax laws.

i wouldnt rent out part of my house for a measly $200 thats just me. Its not worth my time or the hassle.

and pls explain to me how im making a profit if my mortgage + taxes are 3000$ a month? theres no profit in it, its just being used to cover costs.

You think anyone is purchasing an additional home and leasing it out just for fun??

You don’t think that those people are doing it to earn extra money?

To answer your first point, good. You're obviously the type of person that would not be a good landlord. The tax works.

To your second point, I clearly used $1,000 as an example. So if your actual costs were $3,000, maybe $3,600 would be fair.

I'm going to stop responding because I get the real feeling that you're not interested in actually considering solutions to this crisis, but simply want to justify your own greedy thoughts. Take care friend.

how many times do I have to repeat myself? I’m starting to sound like a broken record. An average person who owns one house

Nice job taking the high road. Make a bunch of assumptions, and hit the road. Nice strategy.

AN AVERAGE PERSON THAT OWNS ONE HOUSE ISNT RENTING OUT THAT HOUSE

There’s a tenants rights organization in nj. Njto11@verizon.net

cool. but if i decide to rent out one floor or one room, im not making any profits. you were arguing tht literally every landlord in the state was making huge profits.

You’re ridiculous. Scroll back to the original comments here and take a look at how far you moved the goal posts.

Just so you know, Montclair has rent control and there are affordable units in town. They cap increases at 4%.

in the same way i sound ridiculous to you, you too sound ridiculous to me. i feel like im talking to someone that doesnt speak english.

I feel like I’m talking to someone who can’t cope with being proven incorrect and instead of just walking away, keeps doubling down despite there being a written trail of them changing their argument and having to grasp at straws.

now youre just accusing me of things. whatever. you are not my problem. your opinions are not my problem.

It’s not an opinion when it happened….in writing. I am accusing you of things. If you didn’t want to be accused of those things you shouldn’t have done them.

Thank you!

Wow surprised for that cheap find in Essex. Sadly, that is too far for my girlfriend and I’s work. :(

I’m almost thinking of skipping the renting part and just sucking it up and living with my parents for a bit longer, to save for a down payment.

While I will never promise it will work, I can promise you it has worked even in the height of Covid.

Send a kind letter asking to be exempt from to rest increase, using your history of being a good tenant. See what happened. Worst they can do is say no.

I was sending letters in DMs to people here and on other subs last year. the short is our rent went up 300$ and we asked to go month to month (to try and move out) and to remove our pet fee because rent was just too much.

We kept the pet fee, went month to month, and got our rent LOWERED. We are in great terms with our property manager and our maintenance team, most of them just want to do their job and not deal with assholes.

The reality is a great tenant with slightly less rent is more valuable than a shitty tenant leaving and finding a new (hopefully less shitty) tenant, and all the costs AND RISK that is incurred with that. We were only able to close on a house because of this letter and the money we saved.

Thanks for this advice. I am an excellent tenant and know that’s recognized by my landlord. I also know that he has properties an hour and a half north and would prefer not to be bothered with this property. He even offered to sell it to me. The approach you outline is probably my best shot.

NJ bars "unconscionable" rent hikes, although the term isn't really defined. There was a recent court decision that would give you a good argument to make with your landlord, although another court would not be obligated to do the same thing: https://www.njcourts.gov/sites/default/files/court-opinions/2023/candelandvnunez.pdf

I know so many young adults (late 20s even early 30s) living with their parents in Bergen county. I grew up in ocean county and it always seemed like it was frowned upon. But up here it’s really difficult to survive without first living with your parents and saving

Yes, the market is rough depending upon the towns you are looking in. If it's your first time buying, be sure to look into the first time home buyer's grant! Can save you on closing costs.

I live in a town like this! People turn their noses down on where I live, but I've found the people here for the most part are very kind and giving, even when they don't have a lot.

Ditto. Stone soup towns.