It appears Corporate had advanced information about a Starbucks being built just steps from the property because, when I returned to the complex from yesterday’s workout, a notice had been posted to doors indicating an increase in rent.
Our rents haven’t increased in three years, so it’s a safe bet this increase is the result of The Starbucks Effect (Starbucks moves in, property values go up, building owners charge more).
It’s only an additional $49 per month which, after not having an increase in such a long time, is not going to kill anyone but, I’ll bet dollars to donuts this Starbucks Effect is going to cause increases to now be an annual thing.
With 178 apartment homes on the property, Corporate is going to gain big time without actually having to do any work or improvements on the property to justify the increase.
Looking at the paragraph that says “We hope you will continue to see the value of your apartment home and we look forward to your continued residency”, Corporate must be expecting some residents will not be happy with the increase and end up moving, because the increase is based solely on The Starbucks Effect, while management is failing to make improvements some have requested, i.e., new paint job, new carpet.
Corporate must also be thinking some residents will cause trouble by taking the issue to housing authorities, because of the wording in the paragraph which goes ... “Should you wish to discuss the rent increase or let us know of any concerns you may have, we urge you to reach out to us rather than the local City/County/State government agencies as they are not responsible for the rent increase”.
Interesting wording, is it not.
I’ve never in my life seen such words accompanying a rate increase.
At any rate, I’m good with the changes coming as a result of The Starbucks Effect, even if it means the owner of the property, where the Pain Cave is located, increases Trainer’s rent, which causes Trainer to eventually increase his rates. However, I will have an issue if the increases, here on the complex, come more frequently than annually ─ i.e., every six months as some properties have taken to doing.
On another note, there is an old guy living in that heretofore vacant lot.
He doesn’t have a tent, just lies in the field, on padding, with his belongings around him.
When I saw the area had been fenced in the other day, I thought old guy might be gone already. But, coming back from yesterday’s workout, I spotted him on the corner and realized the area where he lives is just outside the fenced in area.
He’s good for now, but eventually that area will also be taken up ─ maybe for parking.