I've always found it strange that apartment complexes charge more for rent little by little each year.
I may be a naïve little boy, but I assumed that if you were renting an apartment for an extended period of time you should be paying less, even if just a little. It makes sense to me for a complex to charge less for a tenant who has shown "loyalty" and consistency when it comes to renting an apartment. Show a little appreciation for someone who's giving you consistent business, right?
But no. I've forgotten that inflation is a thing. A very prevalent thing.
According to Rent.com, the average rent in Lubbock has gone up slightly over the past year. For 3-bed apartments, however, rent has increased by a whopping 54 percent on average in just a year. Luckily, I live by myself in a 1-bedroom apartment, so I'm not being hit too hard.
Apparently, any time property taxes and other costs go up for owners, it gets passed on to tenants, and this is why we see prices go up every year or so.
Personally, I'm a fan of apartment living. As demonstrated previously, I cannot stand my upstairs neighbors or the consistent lack of hot (or any) water, but I don't have to pay up when something breaks; it's cheap and it's simple. I'm content, even though I complain a lot.
I guess what I'm trying to say is this: always be ready for your rent, gas or whatever to shoot up randomly. Ask for that raise. You deserve it.
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