Recent comments in /f/baltimore

zk2997 t1_izmjh4q wrote

That all makes sense, but it’s just not a transparent process regardless if it’s their doing or if it’s strictly legal. It would make more sense if it just said “Pending” like in the real estate market.

Hiding units behind a curtain naturally creates a FOMO because people don’t want to have to spend an extra $100/month if they wait too long to sign.

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caro822 t1_izmjfe1 wrote

Nope. The lease can say whatever it wants. But it doesn’t mean anything if there is a law that directly contradicts it, like in this instance. So basically, if they’re giving you shit about not giving 60 days notice, just refer to the law. If this goes in front of a judge, the property managers case would be thrown out, and really that is the only thing that matters.

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caro822 t1_izmil69 wrote

Due to fair housing the second a completed application is put onto an apartment that apartment goes off the market. What happens a lot is, after the app is looked at ( income and rental history verified etc…) they are approved or denied. If they are denied that apartment goes back on the market. Or the applicant changes their mind and cancels the app. Or the current resident changes their mind several times about if they’re leaving. Anyway, that is very common and not happening for the reasons you think.

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zk2997 t1_izmi71b wrote

Wow I just signed my renewal lease agreement a few days ago and it explicitly said 60 days.

I believe you but I’m wondering why they haven’t updated the pre-filled contracts yet. That seems like a pretty important detail that should be clarified immediately.

They actually sent me a separate email as well stating that I need to give 60 day notice if I’m not signing.

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caro822 t1_izmhxvo wrote

Jared Kushner’s company bought a lot of Property’s. Lots of mid-sized property mgmt cos are just a bunch of rich people buying a portfolio of properties, hire a mgmt company to oversee them, do shitty renovations, jack up the price, then sell 5 years later once they priced out all the old residents and the property needs repairs for their shitty renovations.

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EthanSayfo t1_izmhhtc wrote

It's aaaalmost like collusion and price fixing is a logical byproduct of extremist late-stage capitalism, when only small numbers of companies, even duopolies, control almost every industry...

Nah!

Sorry to sound so sarcastic, but we're nuts if we don't think this is going on in many/most industries.

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zk2997 t1_izmh8lv wrote

And it makes no sense because they’re losing money by bringing in a new tenant on cheaper rent and first month free. I think they simply upcharge everyone and hope they don’t notice. The idea these companies have is probably that the people living in these complexes near the harbor are well off enough that they can pay whatever and won’t bother anyone over an extra $50/month.

Once I asked to negotiate they immediately threw out a lower number because they knew they had no leverage and I figured them out.

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caro822 t1_izmgccn wrote

What info specifically? The laws? Those are on the internet. For the pricing? Go onto the property website, and click the thing that says Floor Plans or Availability. Once you’re on a particular apartment you can usually see how different move in dates affect the price. Some have a “pricing calendar.” The day you move into what apartment for however long changes the price. Also the leasing consultant at the property will be able to tell you.

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zk2997 t1_izmfloo wrote

I live in a complex like this and just went though my renewal this past week.

I was tracking the availability of units every day for a few weeks just to get an idea of what I was going to have to pay. There’s two things I noticed.

  1. They quoted me around 5% higher than their own market rate for an identical unit (and that’s not even including their “first month free!” promos for new residents only and whatnot). I brought this up to them to negotiate and they apologized for the “mistake” and offered to knock it down a bit. I wonder how many people just sign the papers without checking to see what their own unit is current going for?

  2. Sometimes units would just… disappear. And then would be reposted again a few days later. Almost as if to create artificial scarcity/demand. Make it seem like someone just signed a lease in order to manipulate their vacancy rate.

I swear these companies do some really shady stuff.

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