Russell (zimzat) wrote,
Russell
zimzat

The cost of living goes up, up, up...

Why do landlords and rental management companies feel the need to raise the rent just because everyone around them is doing it? Why isn't cost + reasonable profit sufficient? This seems especially strange when they're not paying for any utilities and I doubt property costs are going up at anywhere near the rate of the rent. It's especially strange when I can walk out and see half a dozen places with signs hanging out for the past month of units available.

In a way raising the rent raises the value of the property which raises the property tax, so in a way they're feeding their own costs.

Worse yet it raises the cost of everything else in one terrible cycle. When rent is raised employees need to get paid more to meet the cost of living. When businesses have to pay employees more then the cost of goods go up. Money is a strange game. I'm not going to touch that one any more than I have to.

"Leaving money on the table" my foot. Any money left on the table gets spent on something else. People need to stop listening to these "Get Rich Quick" schemes.
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