When it comes to how expensive things are right now, there is no shortage of things to complain about – and absolutely nothing is a frivolous complaint, either.
The rental market is no exception, and although you probably realize that it would follow the trends in theory, this post brings how the reality of just how crazy things have gotten.
The post was put up by a renter in Jersey City who saw his rent increase over $1200 from one lease to the next – and when he shared the detail on TikTok, he amassed over 380,000 views.
@olliemcateer 💔 #rent #rentalproperty #jerseycity #hoboken #property #lease #fyp #rentincrease
Oliver McAteer (@olliemcateer) gave us the lowdown on what he’s been paying, which he says was already too much.
“I currently pay $3400 for a two-bedroom, two-bathroom, fairly small apartment in Jersey City. It’s a great place, nothing to brag about, but it does the job. I definitely shouldn’t be paying that amount for it.”
Now, though, they want even more.
“So here’s what we got for 12, 13, 14, and 15 months. This last one here – 15 months – is a more than 37% increase in rent.”
What if you want to rent month-to-month, you ask? Brace yourselves.
“But wait, there’s more! Because they’re super flexible and understanding, they’ve also offered me a month-to-month rate. Do you want to see how much that is? Just a cheeky $5,751 per month for the flexibility and the privilege of having a month-by-month contract. This is a nearly 70% increase on rent.”
To be fair, Jersey City is the most expensive city to rent in across the country – crazy, right? The average rent there is $5,500, which is more than double the national median price of $2,002.
Oliver did provide an update, which let everyone know he was able to negotiate a bit (though he’s still paying $550 more a month than he was), so don’t be afraid to ask for a little something.
@olliemcateer Replying to @Amanda, MPH 💡 no games. Most are pretty human about stuff if you just talk to them. #fyp #rent #rentincrease #negotiation #nj #jerseycity #hoboken #property
The worst thing they can say is no, right?
People in the comments, from all over the country, reported similar hardships when it came to their updated rental agreements – from others in New Jersey….
Image Credit: TikTok
To Florida….
Image Credit: TikTok
And in Boston, too.
Image Credit: TikTok
If you’re renting, what have the past couple of years been like for you?
We’d love to hear about your experiences in the comments!
