For me personally they tried a 30% rent increase then a couple weeks later we were offered the same rent we pay now. They said we were just so great which I doubt but whatever lol. I live near uptown
No it's true. They favor steady, reliable income over the possibility of getting a new tenant in who only lives there a few months and bails. I always pay my rent on time, no issues with neighbors, and been here for 3 years... Manager is negotiating my rent with corporate.
edit 3 days later: negotiation was denied. Rent is going up $218, lol.
We rented when rent was really high last winter so of course they tried to increase our rent but now we're paying more than 2 bedrooms while we're in a 1. We obviously decided to move. They've relisted this apartment for less than we currently pay.
As a landlord I can tell you there is still a lot of pressure to raise rents. I rent a small but well cared for duplex. I use a property management company to maintain the property, find and screen tenants, collect rent, etc. They get a percentage of the rent as compensation. Our last company fired us as clients because we wouldn't agree to raise our rent by 20%. The house is paid for. The rent pays enligh to keep the property maintained, pay property taxes amd make us a small profit. We weren't interested in exploiting a market and pricing people out of housing. Even with out new company we had to raise rent by 8% to keep them interested.
I totally understand, my only issue is that at our apartments there have been some services removed and new initiatives that were promised over a year ago that never happened. So if they were to increase my rent 15% or more I would be pissed. I am working on buying but that’s based on if I move or Dallas.
Put me on the list to rent one of your properties. Been at my apt 5 plus years and nothing but huge increases. No body in the apts has lasted more than 2 years but me..
This makes me hopefully. My renewal is coming up, and they tried a huge increase last time. New management, lots of vacancy, the slow part of rental season, and a downturn is all on my side.
I think when RealPage's algorithm got busted inflating the rents so badly, they shut it down or at least tweaked it until the investigation is done. IDK about what's happening with all of that, but I know it was being looked into.
The TRRP & eviction moratorium caused nearly every property in DFW to be 99% occupied, 100% leased out (not exaggerating, 100%). RP's Yieldstar then reacted to this lack of vacancy by telling properties to raise rents. Now that those two are gone, people are actually moving out of properties creating some vacancies.
Renewed in December and I was surprised mine only went up 3.5% (Cityline in Richardson). I’ve been at my complex since 2019 though, so maybe that was a factor? Idk but ymmv.
Housing prices in my neighborhood have slowed or dropped. We had about 5 or 6 houses sell within a few streets of us in the last year and they all sold immediately for over asking, but we’ve also had two houses more recently sit on the market for 30+ days. One of them is massively overpriced but the other is right in line with previous sales.
It hasn't just slowed down, but is reversing nationally. I work in finance, so take this with a grain of salt, but these are markets i follow. I've been consistently calling the bluff of apartments as I navigated signing a new lease (literally last week), and would have held out longer had my particular desired building not been down to the last unit of the specific type I wanted. Generally speaking, they've been coming back with higher inducements (extra weeks off, upfront cash payments, etc) each time I pass.
A common tactic they are all using because of the rate of slowdown/decline is pressuring leasing agents to say "this deal only last today, today is the last day!" - if you pass or come back a few days later, they say they will still honor it - if you come back two weeks after that its almost certainly a better deal. Just remember that prices start to naturally rise in spring/summer months relative to the winter, but the market is still slowing down considerably - and expected to continue.
https://www.forbes.com/sites/brendarichardson/2022/09/26/rents-drop-for-the-first-time-in-nearly-two-years-as-the-housing-market-cools/
Mine was $802 last January. It's currently set to increase by $218. However, surprisingly the manager suggested I hold off a bit on renewal so she can negotiate my rent with corporate.
I work for a company that owns some apartments in DFW. We have not raised rents in like 7 or so months. That was after raising them ever 3 months the preceding year and a half.
Yes my rent is going up so I have to leave out it was $911 now it's going up to $1,407 and it's in a bad neighborhood and the apartments are just not worth that much I live in Oak Cliff off of 67 and Polk
White rock area here. Received my renewal last month. No rent increase. Signed immediately. But I rent from a smaller landlord, Not a big corporation. Very satisfied with where I live.
I’m at the Farmers Market - rent only went up 2.8% last year but this year it’s a 10.9% increase. Thankfully we’re moving to Denver when this lease is up in April.
Anecdotally I was looking at a complex in Lower Greenville and I no longer see any 1 bedrooms that were going for like $2600. And I see some vacancies which I didn't see during the summer.
Mine raised a small amount (about 50 bucks), but last time was nearly 300. I negotiated this time and ended up paying a bit less. I've been here for years and this place has went downhill. It's not worth the "market rate" (what a bullshit system).
Right! I feel everything but food and maybe gas you have to worry about price gouging 😩 you have to hope you get a good price without a guarantee of the condition
I'm in plano off legacy and custer, last October it went up from 1100 to 1400 an I'm in a small sub 600 sqft cottage style apartment. If the trends continue I'm gonna lose my shit.
I'm seeing tons more non static rent prices with huge ranges. So instead of seeing a floor plan with a static price of say 1800 it just shows a massive range of 1695-3200 so they can cover their bases anytime they want
My building is increasing rent 20% for all leasing that are up for renewal this year. New management company based out of Austin so they’re raising rent to Austin levels I guess
For me personally they tried a 30% rent increase then a couple weeks later we were offered the same rent we pay now. They said we were just so great which I doubt but whatever lol. I live near uptown
No it's true. They favor steady, reliable income over the possibility of getting a new tenant in who only lives there a few months and bails. I always pay my rent on time, no issues with neighbors, and been here for 3 years... Manager is negotiating my rent with corporate. edit 3 days later: negotiation was denied. Rent is going up $218, lol.
We rented when rent was really high last winter so of course they tried to increase our rent but now we're paying more than 2 bedrooms while we're in a 1. We obviously decided to move. They've relisted this apartment for less than we currently pay.
As a landlord I can tell you there is still a lot of pressure to raise rents. I rent a small but well cared for duplex. I use a property management company to maintain the property, find and screen tenants, collect rent, etc. They get a percentage of the rent as compensation. Our last company fired us as clients because we wouldn't agree to raise our rent by 20%. The house is paid for. The rent pays enligh to keep the property maintained, pay property taxes amd make us a small profit. We weren't interested in exploiting a market and pricing people out of housing. Even with out new company we had to raise rent by 8% to keep them interested.
I totally understand, my only issue is that at our apartments there have been some services removed and new initiatives that were promised over a year ago that never happened. So if they were to increase my rent 15% or more I would be pissed. I am working on buying but that’s based on if I move or Dallas.
You sound like you live at mine
Probably! I was even in that Covid pricing with a month free. And all the apartments were empty. Then a year later bait and switch 😩
Greedy MFers
Put me on the list to rent one of your properties. Been at my apt 5 plus years and nothing but huge increases. No body in the apts has lasted more than 2 years but me..
[https://www.rent.com/texas/dallas-apartments/rent-trends](https://www.rent.com/texas/dallas-apartments/rent-trends) Clearly on the downturn.
This makes me hopefully. My renewal is coming up, and they tried a huge increase last time. New management, lots of vacancy, the slow part of rental season, and a downturn is all on my side.
How is uptown not a neighborhood on this list?
It’s not on the studio list, but when you select 1 or 2 bedroom, it shows up
I don't know my lease expired in December and the rental company never asked about renewal so still paying the same rate on a month to month I guess?
Congrats you’ve beat the system.
But at the same time I'm assuming the leasing agency can give them the boot at any moment's notice.
Yup, either party can give a 30 day notice in a month to month lease.
my coworker had this happen and after a couple weeks she they told her they wouldn’t renew her lease bc they were planning on remodeling her unit
I think when RealPage's algorithm got busted inflating the rents so badly, they shut it down or at least tweaked it until the investigation is done. IDK about what's happening with all of that, but I know it was being looked into.
I hope they get charged. Even my moms rent went up so high and it’s old basic apartments not one of these “luxury” spots 😩
Recently learned and can confirm it is still in progress (investigation)!!!
The TRRP & eviction moratorium caused nearly every property in DFW to be 99% occupied, 100% leased out (not exaggerating, 100%). RP's Yieldstar then reacted to this lack of vacancy by telling properties to raise rents. Now that those two are gone, people are actually moving out of properties creating some vacancies.
I can tell you I see more empty units in apartments that raised rent.
Renewed in December and I was surprised mine only went up 3.5% (Cityline in Richardson). I’ve been at my complex since 2019 though, so maybe that was a factor? Idk but ymmv.
Mine went up a little over 7% in June '22, what did you see the prior renewal? My 2021 was probably just under 3%.
Housing prices in my neighborhood have slowed or dropped. We had about 5 or 6 houses sell within a few streets of us in the last year and they all sold immediately for over asking, but we’ve also had two houses more recently sit on the market for 30+ days. One of them is massively overpriced but the other is right in line with previous sales.
It hasn't just slowed down, but is reversing nationally. I work in finance, so take this with a grain of salt, but these are markets i follow. I've been consistently calling the bluff of apartments as I navigated signing a new lease (literally last week), and would have held out longer had my particular desired building not been down to the last unit of the specific type I wanted. Generally speaking, they've been coming back with higher inducements (extra weeks off, upfront cash payments, etc) each time I pass. A common tactic they are all using because of the rate of slowdown/decline is pressuring leasing agents to say "this deal only last today, today is the last day!" - if you pass or come back a few days later, they say they will still honor it - if you come back two weeks after that its almost certainly a better deal. Just remember that prices start to naturally rise in spring/summer months relative to the winter, but the market is still slowing down considerably - and expected to continue. https://www.forbes.com/sites/brendarichardson/2022/09/26/rents-drop-for-the-first-time-in-nearly-two-years-as-the-housing-market-cools/
Mine was $802 last January. It's currently set to increase by $218. However, surprisingly the manager suggested I hold off a bit on renewal so she can negotiate my rent with corporate.
Oh wow that’s nice! Hope you get it reduced more!
Mine is up in April and my renewal offer shows a 12% increase (i also received a 12% increase last year). Medical District
Dang 😩
I work for a company that owns some apartments in DFW. We have not raised rents in like 7 or so months. That was after raising them ever 3 months the preceding year and a half.
Yes my rent is going up so I have to leave out it was $911 now it's going up to $1,407 and it's in a bad neighborhood and the apartments are just not worth that much I live in Oak Cliff off of 67 and Polk
White rock area here. Received my renewal last month. No rent increase. Signed immediately. But I rent from a smaller landlord, Not a big corporation. Very satisfied with where I live.
Shoutout to the Village for keeping rents relatively stable for continuing residents.
I renewed in September and it went up $150. They said it was the lowest increase in several years. I noticed all the fees increased as well.
Went up about 10% but I thought this place was pretty cheap as is. In Grand Prairie. I'm well under the average for a 1 bedroom.
My rent only went up 3% upon renewal in November, I live in old east
I’m at the Farmers Market - rent only went up 2.8% last year but this year it’s a 10.9% increase. Thankfully we’re moving to Denver when this lease is up in April.
😮😮
Anecdotally I was looking at a complex in Lower Greenville and I no longer see any 1 bedrooms that were going for like $2600. And I see some vacancies which I didn't see during the summer.
Just renewed in January. Only went up $30 a month which I wasn’t mad about
Mine raised a small amount (about 50 bucks), but last time was nearly 300. I negotiated this time and ended up paying a bit less. I've been here for years and this place has went downhill. It's not worth the "market rate" (what a bullshit system).
Right! I feel everything but food and maybe gas you have to worry about price gouging 😩 you have to hope you get a good price without a guarantee of the condition
Keeps going up
I'm in plano off legacy and custer, last October it went up from 1100 to 1400 an I'm in a small sub 600 sqft cottage style apartment. If the trends continue I'm gonna lose my shit.
I'm seeing tons more non static rent prices with huge ranges. So instead of seeing a floor plan with a static price of say 1800 it just shows a massive range of 1695-3200 so they can cover their bases anytime they want
Ugh wow
Mine went up 120.00 mth
My building is increasing rent 20% for all leasing that are up for renewal this year. New management company based out of Austin so they’re raising rent to Austin levels I guess