Rent hikes in the Pearl.

santiamiam · 4日前

This post is like r/Portland catnip.

Spread_Liberally · 4日前

It's almost as if housing demand (and therefore, the price of rent) has been driven up by a bunch of people moving here.

Your shock is a quaintly amusing, but I am sorry for your situation ^but ^only ^{^the} ^{^very} ^{^{^tiniest}} ^{^{^bit.}}

Strangesyllabus · 4日前

Legal and normal. This is happening all over the city. Congratulations!

ranoutofbacon · 4日前

Your landlord knows where you moved from and is just saying fuck you sucker.

diphthing · 4日前

I got hit with a 50%er over in SE. And while I have a lot of square footage, the building is pretty rundown. I did the math and am moving to a smaller, but much nicer apartment in a better area for just slightly less money than the new rent.

closesandfar · 4日前

OP's obliviousness to the irony of his post makes it one of the best things I've read on this subreddit.

ebmfreak · 4日前

I think part of that is due to some of the 10 year Tax Abatements in the pearl officially ending. The city essentially gave some developers very large property tax incentives to gentrify the Pearl and make it what it was... now that is over with / they are expiring / it is time to pay the piper

So 2 things are happening:

1) Homeowners who bought into abatement qualifying properties around 2005 will have a MAJOR property tax increase - around 25-30%

2) Landlords who qualified for the abatement program also are affected, and will be passing the new cost increase on to their tenants.

You'll probably see a few choice properties actually go up for sale as a result as well.

Champagnejams · 4日前

I guess you either move out and become a hero, or live here long enough to become just like the rest of us.

Strangesyllabus · 4日前

OP I really do not know what you expected here.

twee_ennui · 4日前

Hahahahahahahhahahaa ahhahahahahhah ahhahah ahahhahahah and I've lived here forever and im moving out past 82nd because I can't afford a single bedroom apt while paying my students loans even though I make 35k/year. BUT PLEASE, LET ME HEAR HOW BAD IT IS THAT A NON BALLER LIKE YOU CANT LIVE IN THE PEARL

cratermoon · 4日前

I moved to Portland from NYC in May of 2014

/tinyviolins

USPSGuy · 4日前

What's your new $/sqft? If you're in the $2.50-$3.00 range, you were probably just on a good deal before. If not, maybe you're a smoker or have received other nuisance complaints from your neighbors and the building wants you out?

TotesMessenger · 4日前

I'm a bot, bleep, bloop. Someone has linked to this thread from another place on reddit:

[/r/subredditdrama] R/Portland transplant upset about rent hikes, shocked that gentrification has consequences. The natives are unimpressed.

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occamsracer · 4日前

This should take your mind off the train horn noise.

neil_before_scrodd · 4日前

the Pearl

cratermoon · 4日前

[deleted]

CallingYouOut2 · 4日前

You don't say what your rent was before and after. If your rent was significantly under market then a hefty increase could be entirely appropriate.

Marius_Mule · 4日前

the only real solution I see is more people like you moving back to where you came from. Full up, sorry.

BacteriaEP · 4日前

Nobody seems to have answered your question directly so I will:

Yes it is legal. Portland rent increases are bound by market, not by law. I knew somebody in a similar situation that saw rent increase around 30%.

tom_still_waits · 4日前

Look on the bright side, at least you aren't in NYC anymore...

glidingclyde · 4日前

Yeah, it's boom times. Still not as bad as Manhattan. My wife and I bought a house in inner SE for the same price as our mouse infested east Harlem apartment.

Good luck!

bkerensa · 4日前

Yes its normal and 24% is nothing last year we had almost a 40% increase and this year another $50 per month increase. We are becoming SF because we didn't build enough for the growth happening.

coryjmccall · 4日前

I am wondering why it is going to be a few months for a place outside of the city? Are you working with a Realtor? I can help you find a place at a reasonable price.

Karmatsocheff · 4日前

Let's all have a laugh at the rich New Yorker from the pearl until we realize the exact same shit could happen to any of us at any moment. You snarky fucks.

kriheli · 3日前

so if the words "NYC" and "pearl" were omitted from this post the tone of all the comments change. nice.

pizza_partyUSA · 3日前

Hey! I'd like to help out and not be a dick.

I moved here from somewhere else too where there was rent control. I think rent could only go up like.... 4% a year or something similar? It ended up being VERY little. I was gobsmacked at the increases up here. Also, I wasn't used to terms being switched at the end of the lease. Whenever I went passed it, it would just switch to month-to-month at the same price.

We had a 6 month lease that expired here (like right now). To sign another, it would have increased 200-something on our one bedroom. To have it go month-to-month, it would have increased like $350/month which I think would have been about 23%. F THAT S. So yeah, we're moving again.

I thought this was f-ing crazy too. No wonder Portland gets so pissed about people moving here (even though 99% of people I meet here are not born/raised). It's just old transplants bitching at new ones.

WELCOME!!!!!!!!!!!!!!!! :/

throwaway8oo8 · 4日前

As usual, the cringey snark is in full swing. Worst city sub on all of Reddit, nothing but piss, vinegar and sour grapes.

OP: The ASA? The Wyatt? Either way, $2.50 for a modern build condo in the Pearl is about average, if not slightly under. If that's the result of a 25% increase, then your initial rent cost must've been very good and hopefully you were aware that it probably wouldn't last. 25% increase is steep but, in watching condo rental rates on CL, the prices are skyrocketing at a crazy pace. It's a little hard to believe Portland will reach SF rates in the near future - I honestly wouldn't have predicted that (at least not this quickly), and perhaps it'll eventually drive people out of here and the rates will drop back down. In the meantime, this city is quite drunk on its own hype (as well as folks like yourself buying in to said hype) so I would expect more of the same increasing rates, at least for the time being.

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