This is potentially the longest stretch we’ve ever lived in the same apartment. So we’re not sure…
Is the rent supposed to go up $50 EVERY YEAR?!
Sigh. When we moved in, we were expected to pay $529/month. Very doable on a graduate student stipend. Then the next year it went up $40. It was scary, but God provided.
This year it’s going up $50. $619 is a very different number than $529. I can think of a lot of things I’d rather do with that $1080 we’d save every year. Like save for a down payment on a house. Or a minivan. And who’s to say they won’t do it again next year?
So it’s off to rent.com, apartmentguide.com, and even craigslist.org to see what the comparable rates are in this area.
And oooh, I’m getting excited. So far my two favorite options are both duplexes – which we’ve never done before.
(For comparison purposes, our current residence is 965 sq ft, 2 bed, 1 bath, dishwasher, gas heat, no washer/dryer hookups (unless you count the one my husband put in...), gas heat, and we pay all utilities. Everything is carpeted except the microscopic kitchen and bathroom. The main selling points of this apartment are the courtyard, the huge storage closet where we can keep our bikes, the dishwasher, the bus stop, and all the work we’ve invested thus far. Downfalls are the spiking rent, the carpeted dining room, and the lack of a dryer connection (and, of course, I could always use a bigger kitchen.)
Option #1 is a 3 bedroom, 1 bath, 1110 sq ft duplex a few minutes north of us. It has no garage and no dishwasher, but it has a washer/dryer connection. It’s gas heat, and they pay water/trash/sewage. The rent is $625/mo, but when you subtract the $30/mo in water/trash/sewage, we still come out cheaper. There are six closets, but from the sound of it, none are big enough for bicycles. The positives are: more square feet, cheaper rent (when you factor in w/t/s), washer/dryer connection, dining room NOT carpeted, it appears to be on the bus route. The negative are: It’s still more expensive than our current rent, no basement/attic/outside storage, no dishwasher.
Option #2 is a 2 bedroom, 1.5 bath, 1,000 square foot duplex further away (maybe 20 minutes from Josh’s school.) The good: very, very cheap – $525/month, all hardwood floors, washer dryer hookups and WASHER/DRYER INCLUDED at no extra fee (no need to buy a dryer), lots of storage space (attic AND basement), and it’s huge (the square footage does not include the basement). The bad: it has no dishwasher, it’s further away and may not be on a bus route (Josh would have to take the car), the basement is not furnished (not that important), not much room to grow as a family (bedroom-wise), closets are small (but remember the storage space in the basement and attic!), “older house”, and the possibility that the hardwood floors would make the house colder in the already-cold winter.
And now for the catch-22. Our current lease is not up until July 31. However, we have to renew our lease by March 31, or we lose the right to our apartment and may have to move (even if it’s just across the hall). We have to find a place by March 31 and hope that they hold it for us for four months, or just not renew our lease and hope that something is available at the end of July. Breaking the lease early results in a fine of “200% of one month’s rent” (they could have just said “two month’s rent” or “a whole-lot of your hard-earned money).
So we’re going to go look at these places, and if we like one, we’ll try to sublet on Craigslist. (The whole time praying and meditating on our lives’ verse.)
(Because, have we mentioned we have no idea where we’ll be financially in the coming year?)
When my parents were apartment-living when I was a toddler, the apartment complex would raise the lease pretty frequently, and every time my dad would go down to the leasing office and ask to keep our current rent. Tell them you are genuinely thinking about moving out. If you are a renter who does not cause trouble and pays on time each month, then they want to keep you!!! They very well might be willing to keep your rent at its current price.
Yes, it is common to go up $50 a year. You’re lucky it hasn’t gone up more. The cost of gas, electric, etc. has gone up for the owners. Not to mention, people always are wanting updates, wifi etc. You are in a college town, so tack on some more money.
we’ve never rented from a big apartment complex like that. We tend to stick with individuals or small property management companies.
It has it’s ups and downs, on the plus side, they don’t raise rent, on the downside, they’re not always the fastest or best with repairing things that go wrong. You also don’t have the amenities like pool, work out room and playgrounds, but you normally have a private yard, and less neighbors to worry about.
I’d be afraid to sublet my apartment out for fear of them messing something up, maybe if you find another apartment you could ask them if they have any apartments that will be available in the end of July.
Good luck. It sounds like, in a college town, you should be able to get a better deal by moving. But as the previous poster mentioned, if you talk to the management you may be able to work something out.
I personally LOVE living in older buildings. But I know that’s a very personal thing. I definitely wear a lot of wool socks in the winter, and we have 2 space heaters in our house.
Oh – I so feel your frustration! We’ve been there many times! I can’t believe you have to give them 4MONTHS notice — that’s just crazy. If nothing else, see if you can negotiate some wiggle room there. Another thing to think about with moving, is, well, moving expenses. Even if $50 / month seems like a huge increase, how much are you going to have to pay all the different utilities in change of address / account fees, pay for a truck, etc. We often ran into more expenses with that, than our rent increase would have been. Just a couple of things to think about.
But, no matter what, just remember, God will provide! We moved out of our apartment with NO PLACE TO LIVE when I was 3 months pregnant with our first. 🙂 We house-sat for two different families, then lived with another friend until we found the place we’re in now. A bit hard to do with two little ones, but God always has your back! 🙂
Our rent has always gone up about $50/yr, so I don’t think it’s really unusual. I agree with Susan – you might be able to talk the leasing office down; it can’t hurt to ask anyways. I’m surprised you have to give a 4 month notice – that’s a lot! Though a 3 bedroom duplex might be better for your family and any future family growth. 🙂
Just a thing I remember from my university days – if you live in a university town, July is probably a good time to look- lot’s of students go home. And hey, your family has to look better than a bunch of rowdy University students!
Best of luck.
cw
Have you considered looking into subsidized housing? The town we live in has tons of it, and most of it is taken up by graduate students with families. We pay NOTHING to live in our 3 bedroom 1.5 bath townhouse. It is super nice and has tons of storage. All of our neighbors are also grad students with families and TA/scholarships etc. do not count as income, so they all live here for free as well. Now, we do live in a very small university town, so there aren’t really any ghetto-type areas (that subdized housing in a larger community might be like), however you might want to consider it. Also, I know you mentioned saving for a down payment on a house. However, did you know that most states have 1st time home-buyer programs that will give you a down payment for your house? Provided that you aren’t making mucho dineros right out of school, you would qualify for a great low rate and a gov’t grant to cover your down payment. My sister and her husband got over $20,000 towards their house in Virginia (a grant that will not have to be repaid provided they live there long enough). So you might want to rethink trying to save for the downpayment, put the money towards something you need and get more gov’t aid wherever you can get it. Also, are you on Medicaid? You had mentioned insurance premiums, so I was just curious. You should qualify for that, provided you don’t have too much money saved up. Nearly every grad student with a family around here is on Medicaid. We figured it out and my husband couldn’t even be in law school if we weren’t getting all the aid we get. All told it probably adds up to $20,000 a year (food, housing, medical). We even get our utilities paid through energy assistance.
Hi there
Hope you don’t mind – and feel free to ignore it – but I’ve tagged you for a Meme over at Domestically Blissed. Good luck xx
http://domesticallyblissed.wordpress.com/2008/02/24/a-meme/