TOPIC: Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me.

Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50029

I worked on site during the 07/08 crash, I’ve had to extend 20%- 30% increases and I’ve also had to extended decreases - it’s all based on your business needs. As a CM or on site team member, our job is to run the building the most efficiently so we can continue to provide all of those services our residents are paying for. It’s a very tough moral conundrum, but at the end of the day, it is a business, and not charging rents in line with the market, rising salaries, rising costs to do business will make your business fail.
  • America Melragon
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50030

These high increases during a pandemic is sad. Truly.
  • Darilyn Burkman
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50031

I'm in Texas and the pain is real. Wages not moving, but rent and everything else blowing up.
  • Robin Leasing
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50032

Besides being seen as a bunch of money grubbers it isn’t good business. They are willing to sacrifice good paying long term residents for a few extra bucks. Extra bucks they will mostly spend to turn the apartment over and over again.

Money is great, I wish I had some, but it’s not the only thing that matters.
When the bottom falls out the greediest ones will be stuck with a lot of empty, overpriced units. And nothing hurts your brand worse than being forced to cut your prices.
  • Anonymous
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50033

I spoke to an executive about this today and he mentioned that, regarding renewal increases, their motto was "People over Profit." A rare perspective, indeed.
  • Emily Kelly Hilton
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50034

I 1000 percent agree. The greed is real.
  • Amy Culligan
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50035

Unfortunately just like we have to put aside our emotions when dealing with an angry resident,

We have to do it with the ones we like too

You are ultimately running a high dollar asset, with other peoples money, and you are there to make sure it runs smoothly and bring a profit for the owner

Some of us cope with drinking problems

Edited to add:

I agree, it sucks. As someone who grew up poor and lived in C-, D properties until I moved out at 17, watching my single mom work 3 jobs to pay rent and put food on the table was rough

Overall our cost of living has quadrupled in ALL areas in the last 40 years, and our income has NOT kept up
  • Ashley Eva
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50036

We have properties going up $600 on renewals! That is outrageous. Managers are going to prove heir residents out of a home.
In our area? There are few vacancies. These residents are going to be on the streets
  • Susanne Henderson Chandler
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50037

Hope the owners see the newbies paying more, default.
  • Anonymous
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Is anyone starting to grow a conscience? These 10/15/20% renewal increases are getting to me. 3 months 2 weeks ago #50038

2 out of the 3 areas in which we have properties are still not allowing increases on renewals.
  • Karen Kossow
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