Real estate property management groups are the devil, and their demonic claws are reaching every decent, up and coming or already developed and gentrified areas.
There’s always A guy, A family, A group that buys (and keeps buying) properties. Then they get ‘remodeled superficially’ (some new countertops, a fridge, maybe even cabinets), and boom, rent goes up 20%-30% for the same square feet, infrastructure, exteriors and location.
All of the sudden, a couple of property groups own over 80% of all real estate in the area. You’re fucked ‘cause now they get to dictate the market price for X amount of bedrooms as they wish. As long as someone is willing to pay for it (which they do because they need a house to live, avoid a 2 hour commute every day or just raise a family), prices will just keep going up.
I saw today that in MIA prices went up from 20%-40% IN A PANDEMIC YEAR. Shit! I just want a place where I can watch sports, share memes and do some yoga. Maybe live nearby a place that I can walk around and doesn’t make me try to kill myself while crossing a main highway.
Now I got to deal with a receptionist, then a real estate agent, then their supervisor,
Pay a non-refundable application fee,
Check your credit score,
Get a background check,
Security deposit, first and last month rent,
Move in the day after you basically got kicked out of your old apartment (‘cause yea… Old lease ends on the 31st, but new lease starts on the 1st. “We gotta follow strict contract dates, no exceptions.”)
Stuff stops working, they try to fix it because buying a new one eats up their profit margin.
Painting, remodeling, improvements? LMAO,
Having problems with a neighbor? Go fuck yourself. “We can’t get involved. Only send out a letter. We encourage neighbor to neighbor conflict resolution.”
Well, can I move out? Didn’t you hear? Go fuck yourself! “Yea, you can move out. But you’ll be breaking the lease, so we’ll forfeit your security deposit and damage your record for future applications”.
Your lease is over (if you’re lucky enough to be able to live happily in the place for 12 months), let’s fight over the security deposit and if you want to stay, rent’s going up 15% next month. Deal with it.
Fuck me… What a racket.
There’s a classic tweet going around that says:
“Bank won’t approve my $800 a month mortgage to buy a house, so now I have to pay $1,300 to rent an apartment.” (Or something like that).
Goddamn it, I hate it here.