Grr rent increases, again. It would make sense if there was a reason, such as improvement to the building. You put rent up when fuel prices went through the roof, now they are lower and rent didn’t come down, instead once again rent goes up.
It would be nice to say have a stove in which more than one element works or heat that actually turns on and off. I guess you get what you pay for, although now rent actually isn’t cheaper than other apartments in the area, now its almost the same as the rest of the neighborhood. I’ll be moving soon, rent is too high for this hole in the ground.
—Looking for an apartment in which everything isn’t broken
This article appears in Feb 26 – Mar 4, 2009.
If this recession continues on, eventually prices of rent will go down because people won’t be renting so much due to having money and less buying power. The landlords will have no choice. They keep their prices high, few to no people will rent from them, making the apts empty, therefore no revenue.
meant “due to having LESS money…”
I’d agree with you, Selina, if it weren’t for the fact that students populate a large percentage of the apartments in certain areas in Halifax and I don’t see enrollment numbers going down that dramatically just because of the recession so rents in the area will continue to increase.
And a lot of economists are predicting that economic recovery will begin as early as summer ’09 so…
In any event, not ALL rental companies increase their rent. In my last building rent only increased on a unit when a new tenant came in, and the current company I rent from keeps their rents the same from when their building opened. They raise the rental prices when they open new buildings. That’s why the same unit I have in the identical building next door costs about 100 bucks more/month.
Perhaps time to shop around, OP? Rental increases are lame.
Due to increases of cost for the owners of the buildings rent will go up. It does not make sense to pay for some ones else’s accommodations. For a owner everything has gone up in cost. Renewing the mortgage at higher interest rates, tax rate increases and increases in the cost of utilities are just a few costs that have increased. I do not think it is fair to expect the owner of the building to absorb or suck-up all of these costs. Some of it has to be passed on.
There are owners that are fucking assholes and charge as much as they can and still have the unit rented. But that is not every owner. Shop around is good advice.
PK: I don’t think it’s related to the recession, but student enrollment in NS IS down by a noticeable margin. I just wish I could remember the figure. I can’t remember if I read it or watched it.
It’s down, but I still think there’s enough students trolling around that landlords (esp around SMU and DAL) won’t have trouble renting their apartments.
South end hfx is pretty desirable for ALL students, including ones that go to MSVU, NSCC and NSCAD. Probably because of it’s proximity to Downtown (it’s easier to walk from inglis to SGR than Agricola to SGR…)