I recently moved and I watched the rent on a place I looked at jump from $1575 to $1675 in less that 3 weeks, it then took another just to $1775 in another 3 weeks. The management company is Thrive.
I moved out of an apartment in Phoenix managed by Mark Taylor when I signed my lease, and towards the end of my lease shitty ass Greystar took over the property. My apartment was $1125 base rent, and I lived there for 6 months. After I moved out, I looked up prices on units and Greystar had increased the price by $250! 🙄😡 So basically no building upgrades or anything, but $250 more expensive for new tenants just because. F**k Greystar. Never rent from those losers, worst property management company in America.
These big corporate landlords almost ALL use a rent software not just RealPage. There’s one called Yardi as well. DOJ should be investing all states with cities that have a population of over 1 million. There are too few states listed on the civil lawsuit. There are FAR MORE than those listed.
I think they’ve gone after the most notable one because whatever law comes out of the investigation will apply to them all… the other companies would be freaking out too watching this
I just wanna say that back in 2020 i could still afford an apartment. Now not so much. Nothing has changed about my situation , i still work 5 days a week at least and even got a couple raises. How is it possible that i cant afford rent now ? Ive literally been priced out of my apartment and cant afford to rent anywhere new. Now i live in my truck
From 2018-2024, rents nearly doubled everywhere. I’m sorry, but there’s no way inflation alone caused such a drastic increase in that short amount of time
This same thing happened in AZ, in fact companies like Greystar are currently being investigated by the state Attorney General for a big price fixing scheme during the pandemic
Rent should only cost renter's 20 to 30 percent of their income. Make this a law and fix it! People are struggling to live and our leaders could careless.
What happened to the mantra that all real estate is local and every unit is individually priced by it's own attributes such as view, access to buses, schools, etc.? The software just estimates the highest price renters are willing to pay given those attributes. Where people have an issue is the fact that 'deals' are disappearing and everyone is forced to pay market rates. Also isn't the biggest landlord actually the city? They control thousands of housing units all subsides by taxpayers. Doesn't the software have to compete with them? And they don't even have to turn a profit.
Rents went up in Seattle because the City Council raised the minimum wage and they added more landlord regulations which added cost to the leasing process. Also, there is a $7-$35 per sq ft tax (Hala) added to all new construction apts. This lawsuit is simply Trojan horse attempt at rent control.
This couldn't have worked without the assistance of local politicians that over taxed and over regulated small, single family, low income rentals. Fifteen years ago, when the UW still had low income students, one could find an old house in Fremont to rent if they couldn't afford the U-District. Today nearly all have been replaced by corporate owned micro condos and densely populated apartment buildings that are unaffordable to a low income student. Charging a software company but not charging the Governer, Mayor or City Councilmen is a do nothing, expensive action.
I'm thinking property taxes and the 970-million-dollar housing levies that have dumped onto property owners have more to to with this than anything else. Don't vote for this nonsense and then complain about it.
I’m not comfortable with the gov interfering with business. This is interesting, though. For artificially high rent increases too change a market, A LOT of landlords need to raise rent at the same time, otherwise the lower priced properties win. And it’s possible with software! I’ll be watching this.
You need to prove that your gross income is 3 times what they charge for rent. Since that is the case, landlords should not be allowed to raise your rent over that amount once you enter into a lease.
@@mgreg8134 "What does that have to do with fixing rent prices?" umm.... are you completely unaware that two years of free rent was gonna come back somehow? Well here we are.
But it's ok to price fix pharmalogical prescriptions. Or since you're MANDATED to carry auto insuramce but carriers can raise their rates as they wish... THAT'S a RICO case that's ripe.
