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Equity Residential / Rent Increase

1 New York, NY, United States Review updated:

BEWARE!!! I have been living in a building managed by Equity Residential for the past two years and just recently got my rent renewal and my rent had gone up by 20%!! When I called to see if there was anything at all that they could do, I was simply told that there wasn't much and that was the going rate in NYC. It is definitely above the going rate and I'm not really sure in what world people could swing a 20% rent hike, but according to Equity Residential and their agents who take 2-3 weeks to respond to calls, this is completely normal and acceptable. If you're considering renting from them beware. You may get a pretty good deal now, but they'll hike your rent up and force you out. They've been doing this to a lot of my friends in the building, who are also moving out.

Za
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Comments

  • Aq
      20th of Dec, 2010
    0 Votes

    If this is the same Equity that I dealt with, the same thing happened in Minnesota. Problems with rent and other things too.

  • Sh
      4th of Feb, 2011
    0 Votes

    The same thing has happened to me in Washington state. After being told there was nothing that could be done as at that moment the rent being advertised was $20 higher than the price I was being asked to pay, I reluctantly signed the lease with the ridiculous hike in rent and really having no option to move at this point and incurring all of those cost associated with moving. 2 days before my rent official went into effect, the price being advertised was now back down to what I was paying when I first moved in. In just 3 short weeks the price had dropped back down. I contacted my leasing agent again and explained that this really isn't right that I am paying so much more than the apartment is worth, she gave me the same speech that she is sorry there is nothing to be done. I am stuck paying well over market value of the apartment for the next year and I have serious doubts it will go back up again. I would be interested to see how many renters renewals pop up for January, which would explain the hike in price for the short time.

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