Upsurge in Rental Prices

Getting an apartment on rent now-a-days is one tedious task, and within a span of couple of years, when you encounter a clear uncaring notice from your landlord about an increase in rent by 10% (or whatever percent) on the yearly rental amount, then that’s next alarming news. 

You think of meeting the landlord, but he’s not easily accessible, and to make a humble plea over phone is vain. Your immediate contact is the building guard, a grim worker, who on-and-off handles odd building chores, with an overtime for washing tenants’ vehicles. He too, like a little deputy of his landlord, gives an unemotional look, and in a plain tone, speaks his boss’s words—O, yea, there’s going to be a raise in rental payment.

Bygone are the good old days. Tenants, who are staying from last two decades or less than that cherish to have their apartments—so spacious, with little balconies, 24 hours water supply, and no hassles whatsoever, at affordable prices. Old tenants, with years of stay still boast of lesser rental payment. 

Poor are those new tenants who find it hard to get a good apartment—even if they get within their budgets, what a say about dramatically built flats? Low dimensioned rooms, kitchen and toilets, single-coated paint on walls and doors, accessories and lightings of cheap quality, no provision to fix ceiling fans, and scantily wall mounted kitchen cabinets…

It’s hard to understand what motivates the landlords who abruptly become decisive and adamant to increase rental payment? Pretty well—perhaps, they dream to bloom, and tenants, with burdening rent are shattered. In fact, there are landlords, who keep propelling rent every year. Plainly, what can be an outcome of negotiating with the landlord; it will be only one simple answer: this is the increase, and there’s no other option. It’s a locked out scenario…helpless tenant…can’t bear the increase…then, he ought to move somewhere cheaper. 

That’s the itching trouble for flabbergasted tenants who either have to pay more from their incomes or have to shift to lesser rental areas. 

Ask a person who’s on fixed income how he manages the rental payment. Definitely, he will give a painful reply. With all needed basic amenities around you, it’s not so easy to relocate for a less expensive place to live.

Shouldn’t the landlords, who think of yearly increase of rent, care about their tenants’ miserable plight? Is such significant upsurge in rental prices logical? 

Now-a-days, you will find landlords with a novel idea—they are renovating and partitioning old spacious apartments into two, and renting out each at high prices, and then there are new buildings popping up here and there, with its average sized flats at fixed rental rates. No negotiation…if it is okay, all you have to do is make a down payment. It’s a frenzied rental market!