Raising Rent In Lakewood

[aygart]

That's only half the issue. The apartments (especially the kitchens) are not designed for frum families.

Maybe, but where do you think young couples live in literally every US community outside of Lakewood?

[avromie7]

The Willows are?

I moved out of there 25 years ago, so I don't remember.

[aygart]

The Willows are?

At this point any apartment near yeshiva that had any level of kitchen renovation done installed double sinks IINM.

[Euclid]

At this point any apartment near yeshiva that had any level of kitchen renovation done installed double sinks IINM.

Ok...so same could easily be done if there was interest in those buildings. Point is - it's the neighbors, not the layout.

[avromie7]

They don't have a better option. Basements in lakewood were always cheaper than the apartment complexes, that may have changed in the past few months.

[avromie7]

Ok...so same could easily be done if there was interest in those buildings. Point is - it's the neighbors, not the layout.

It's also price and location.

If I really wanted to live on the corner of NH and Chestnut I would figure out how to make it work in Andrew's Corner or Chestnut Commons. Since I don't need to live there, I just look for a more suitable option.

[aygart]

They don't have a better option. Basements in lakewood were always cheaper than the apartment complexes, that may have changed in the past few months.

Yes, they were below the broader market for comparable features so you got a larger and nicer apartment for the same amount as smaller apartments in complexes. If that changed then we should start seeing couples moving into these complexes soon. It was the ever growing supply of basements that kept rents low. Now that this is no longer the case we should expect the market to stabilize higher.

[flyingace]

They don't have a better option. Basements in lakewood were always cheaper than the apartment complexes, that may have changed in the past few months.

Not anymore... buildings are way cheaper than new/large basements. There are not enough apartments at the present. Prime is trying to get their tenants to leave as they signed at such low rents.

[avromie7]

Not anymore... buildings are way cheaper than new/large basements. There are not enough apartments at the present. Prime is trying to get their tenants to leave as they signed at such low rents.

Which buildings? I haven't seen any apartments listed for less than a basement of comparable size. 1 BR are going for $1400+.

[flyingace]

Which buildings? I haven't seen any apartments listed for less than a basement of comparable size. 1 BR are going for $1400+.

Not the ones managed by Yeshiva AFAIK. I am not in the business but I have family renting.

[avromie7]

Not the ones managed by Yeshiva AFAIK. I am not in the business but I have family renting.

I'm not talking about yeshiva area, those are mostly frum already. There are many other multi-family properties throughout lakewood that don't have any frum families.

[Sam 77]

I'm not talking about yeshiva area, those are mostly frum already. There are many other multi-family properties throughout lakewood that don't have any frum families.

Are you referring to a complex like high point on prospect and Massachusetts? 

[flyingace]

I'm not talking about yeshiva area, those are mostly frum already. There are many other multi-family properties throughout lakewood that don't have any frum families.

And those are 1400 for a one bedroom?

[ae123]

Hearing some basements are going from 11-1200 straight to 2200 and upstairs from 2300 to 3800…

On existing or new tenants?

[jye]

On existing or new tenants?

In some cases existing. Parties in some cases are going to beis din/ rabbanim.

[yuneeq]

In some cases existing. Parties in some cases are going to beis din/ rabbanim.

Someone I know was told recently that his rent was raised to 3800 retroactive to when his contract expired 2 years ago, and is now being taken to BD because he's demanding the "extra rent" from the past 2 years. Even better is that this tenant was eligible for COVID rent assistance but his landlord refused to sign the necessary docs because he demanded the rent off the books. The tenant lost out on 21k because of it.

[Euclid]

Someone I know was told recently that his rent was raised to 3800 retroactive to when his contract expired 2 years ago, and is now being taken to BD because he's demanding the "extra rent" from the past 2 years. Even better is that this tenant was eligible for COVID rent assistance but his landlord refused to sign the necessary docs because he demanded the rent off the books. The tenant lost out on 21k because of it.

Landlord from hell

[YitzyS]

Someone I know was told recently that his rent was raised to 3800 retroactive to when his contract expired 2 years ago, and is now being taken to BD because he's demanding the "extra rent" from the past 2 years. Even better is that this tenant was eligible for COVID rent assistance but his landlord refused to sign the necessary docs because he demanded the rent off the books. The tenant lost out on 21k because of it.

I would love to go to bais din with that landlord.

[S209]

Someone I know was told recently that his rent was raised to 3800 retroactive to when his contract expired 2 years ago, and is now being taken to BD because he's demanding the "extra rent" from the past 2 years. Even better is that this tenant was eligible for COVID rent assistance but his landlord refused to sign the necessary docs because he demanded the rent off the books. The tenant lost out on 21k because of it.

Is this a true story?!

[avromie7]

Someone I know was told recently that his rent was raised to 3800 retroactive to when his contract expired 2 years ago, and is now being taken to BD because he's demanding the "extra rent" from the past 2 years. Even better is that this tenant was eligible for COVID rent assistance but his landlord refused to sign the necessary docs because he demanded the rent off the books. The tenant lost out on 21k because of it.

What right does he have to demand it retroactively?