An AJC Bargain Hunter reader — we’ll call him Frustrated Renter — wrote with me with a plea about his rent increasing. He lives in an 800 sq. ft. one bedroom apartment in the Phipps/Lenox area. He originally signed a four-month lease at $820 a month with the rental company because he’d heard “some sketchy” reports about the area and wanted to make sure he was comfortable there before signing a longer contract.
He recently received a renewal letter that says the complex is raising his rent to $980 — almost a 20 percent increase.
Frustrated wants to stay in his current location, because the cost of moving would be equal to the rate increase, not to mention the hassle. His current plan is to offer to meet the company halfway at $900 a month or so. He suspects the occupancy — or demand — is high at his complex as sometimes it’s difficult to find a parking space.
I would probably find another apartment in this situation, even if it was just to make a point and because that sort of outrageous increase makes me mad. But maybe there are alternatives.
What would you do in this situation? Has your rent ever gotten too high? Do you have any advice for our Frustrated Renter?
– By Lauren Davidson, Atlanta Bargain Hunter