Raising Rent In Lakewood

[aygart]

Historically in Lakewood?

Correct.

[jye]

https://rebgershonribner.com/landlord-taking-advantage-of-outrageous-inflation-of-rentals

[bhoaem]

https://rebgershonribner.com/landlord-taking-advantage-of-outrageous-inflation-of-rentals

He says that the agreed upon percentage increase is only applicable during the lease term. After that it's a new lease.
However I spoke to Bais Din Maysharim and the dayan said that their contract still applies with the old rates.

[aygart]

He says that the agreed upon percentage increase is only applicable during the lease term. After that it's a new lease.
However I spoke to Bais Din Maysharim and the dayan said that their contract still applies with the old rates.

He was referring to a specific contract?

[David61]

The M'um list of apartments have grown to 11 pages. What's driving the shifting dynamics in supply/demand?

[myi]

The M'um list of apartments have grown to 11 pages. What's driving the shifting dynamics in supply/demand?

No weddings now during lag baomer. No need for apt.

 But with new developments and constant building. As well with prices rising for the past few years. Ppl who never thought of renting got their Apts in shape ready to rent.
 So that definitely drives up the supply. And hopefully will pull down the price a tad with so many more avlb.
 
 As well with mortgage rates higher than it was the past few years. Anyone who vlosed on a home recently would be more than happy to have that ectra cash to cover that morgage. Every extra dollar counts and people are doing what they can to cover the mortgage and property taxes.

[Euclid]

The M'um list of apartments have grown to 11 pages. What's driving the shifting dynamics in supply/demand?

Not 11 pages of regular basement apartments. Tons of furnished apartments, and other type of rentals. Looks like the majority are not basement rentals (dark grey, skinny A).

[Euclid]

new developments and constant building.

This is wrong, building is nowhere near levels it was in the past.

[avromie7]

No weddings now during lag baomer. No need for apt.

It's not a seasonal change, the list has been growing for more than a year

[shlomoandtam]

The M'um list of apartments have grown to 11 pages. What's driving the shifting dynamics in supply/demand?

I think jackson 21 and those buildings on squankum behind wawa played a big role.

[notyettaken]

I thought rent can only go up, and Jackson houses don't have (rentable) basements.....

[aygart]

I thought rent can only go up, and Jackson houses don't have (rentable) basements.....

Did rent go down significantly?

You are correct about Jackson houses

[yelped]

Did rent go down significantly?

Definitely not in my area. Prices are still at an all time high.

[avromie7]

Did rent go down significantly?

Yes. My area went from 2200-2400 to 1800-1900.

[MiInvstr]

Not 11 pages of regular basement apartments. Tons of furnished apartments, and other type of rentals. Looks like the majority are not basement rentals (dark grey, skinny A).

True but it was about 3 pages total 2 years ago and now it’s 11 pages.

[Euclid]

True but it was about 3 pages total 2 years ago and now it’s 11 pages.

Yeah, was just pointing out that the list isn't mostly basement rentals like it used to be in the past. Lots of chosson kallah apartments, and houses.

[MiInvstr]

Yeah, was just pointing out that the list isn't mostly basement rentals like it used to be in the past. Lots of chosson kallah apartments, and houses.

There was a bigger percentage of basements listed 2 years ago? If yes then I hear your point.

[avromie7]

There was a bigger percentage of basements listed 2 years ago? If yes then I hear your point.

There was nothing 2 years ago, so percentage isn't important. The last time the basement market was flooded, the Masa U'Matan was 80% basement apartments.

[baron]

Yes. My area went from 2200-2400 to 1800-1900.

Prospect vines etc. area? That’s a yachid. Slightly smaller as well. Where else? The popular areas are holding up or rising somewhat. The full 3and2 is still a rising product, and new construction 3and2 even more so. That may be a market of its own but even thats gone down in the past.

[Kmusic22]

There was nothing 2 years ago, so percentage isn't important. The last time the basement market was flooded, the Masa U'Matan was 80% basement apartments.

Talking about basements and flooding, is new construction better or same for flooding basements?!