Let me ask you this, at what point do we say enough is enough?

I was on social media yesterday and saw that one of the tenants in an apartment complex here in town is looking at a rent increase.  Well, that certainly isn't anything new here in Bozeman, however, this was a 550 dollar rent increase.

Yep, 550 bucks...a month...more.

The person was shocked, I was shocked, and the other people commenting were shocked.  I mean think about that for a minute, 550 dollars a month, over a 12-month lease that comes out to be an increase of 6,600 bucks a year, extra for rent. Unbelievable, right? Unfortunately, that is becoming the norm here in Bozeman and there isn't a whole lot that renters can do about it. You either pay it, or you move and they put someone else in your place that will.

dcsliminky
dcsliminky
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Seems a little heartless, huh?

Let me give you an example.  I know someone that was looking at a rent increase of right around 350 bucks a month, so they decided to get out and find someplace cheaper.  The one apartment alone had over 300 people apply for it.  Throw in the fact that they charged folks 60 bucks a piece for an application fee and do the math on that one. The worst part?  That person just moved into the complex that is raising rent by 550 dollars a month.

Coin money and house model on wooden background , Finance and banking concept.
sirichai_ec2
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Is this a case of good 'ole American capitalism or is this criminal? (I know, I know it's not REALLY criminal per the law) but it certainly is morally questionable, isn't it? I don't begrudge anyone from making a buck, heck, that's just the way of the world, but at what point do you say "Yea, I've probably crossed the line"?

I understand raising rent, I really do. Property taxes go up, blah, blah, blah, etc, etc, etc. The question is, what is a reasonable increase? 50 dollars a month?  100 dollars?  Even that is steep for some folks, but 550 bucks?  What is the justification for that?  Seriously, I would like to know.  How do you justify raising a person's rent by 550 dollars a month? I can't be the only one that's curious, has anyone asked these landlords and property managers this question? If so, did they get a response?

So let me ask you, is this capitalism, or is it criminal?  Be sure and vote in our poll below.

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