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BudgetingRent increase continues to outgrow wage increase. (self.personalfinance)

wamsachel が 投稿

I am a super noob with finances. I've been out of college and in the work force for just under 3 years. Each year, the rent increase on my apartment has outgrown the increase in wage salary.

This year, the rent will increase by %17 while my salary is bumped by %1.

My napkin math tells me that this wage increase will only account for 1/3 of the rent increase.

Am I looking at this incorrectly, or is my anxiety justified? I'm reading that rent should be 25-35% of income, and luckily the new rent doesn't move me out of that range, but I will need to change something, I'm thinking either cut back on savings, or move to even cheaper apartments (I'm already living in one of the cheapest places in the area), roommates, etc.

Thanks in advance

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[–]stolpsgti 1136ポイント1137ポイント  (430子コメント)

Are you renting from a corporate complex? It has been my experience that they know people don't like to move and so they have large jumps every year - to the point that lease renewals are often more expensive than what is offered to new applicants.

Your best bet might be finding a private party apartment, or renting a room from a coworker. I'd be looking for a new place, if I were you - 17% is pretty steep.

[–]lolpubs 97ポイント98ポイント  (94子コメント)

It has been my experience that they know people don't like to move and so they have large jumps every year - to the point that lease renewals are often more expensive than what is offered to new applicants.

Yeah, except an existing tenant who hasn't been any trouble is basically zero risk and zero work compared to signing a new person. They're just banking on you not wanting to spend the time and money it'll cost you to move out, even if you'd save money overall by moving every year. It's gotta be worth calling them on their bullshit and just asking for a smaller increase before you jump ship.

[–]stolpsgti 128ポイント129ポイント  (57子コメント)

I tried that with the last corporate place I rented from. I was told there was nothing they could do - so I moved, and they acted all surprised.

[–]redditor456456456456 110ポイント111ポイント  (29子コメント)

This has been my experience too.

See also: negotiations with Comcast.

"Wait! We didn't think you'd actually leave! Come back - we've got an amazing deal for you that was apparently impossible for us to provide yesterday" (to paraphrase)

[–]Liger_Zero_Schneider 25ポイント26ポイント  (10子コメント)

I attempted this with Comcast once. Never again.

They said that they could move me up a level in speed and get me a promotional rate and, at least temporarily, no data cap (this was the big thing for me), at a slightly lower price. I had them confirm that the new speeds could be delivered at my address - a couple of years prior, they were unavailable.

Next month comes around, and every damn word was a lie. I still had my data cap, and I was being charged more than before, not less, and for a level of service that they couldn't provide at my address. I called them up a dozen times after this trying to fix it, but the reps would tell me something completely different every single time I called. And nothing they ever claimed to do on their end was anything like what happened on my end.

[–]j4jackj 17ポイント18ポイント  (15子コメント)

TIL that you should threaten to leave if you can't afford the service, because they'll find a way to make it more lucrative for you.

[–]frozenHelen 47ポイント48ポイント  (0子コメント)

If you can't afford it, you're going to have to leave anyhow. Really, there's nothing to lose.

[–]erbaker 12ポイント13ポイント  (2子コメント)

I was paying about $70/month for 50Mb internet. One day, after being sick of it, I called to turn off my service.

When I hung up the phone, I was paying $30 for 100Mb service.

It was entirely intentional on my part.

[–]SponTen 7ポイント8ポイント  (3子コメント)

Not always.

I was with Optus (telco in Australia) for about 7 years before realising how screwed-over I was getting (I was only a kid at the time; also, lol grammar).

I finally was about to go overseas on a 6-month trip and asked if I could put my account on hold. They denied. I even gave them the exact time and date of my return, and said they could restart it earlier than that if they wished. They denied. I said I would leave and sign up with another telco and never come back if they didn't treat me like the good long term customer I'd been. They literally said "okay". No joke - that was the actual response of the customer service rep I spoke with on the phone.

I was flabbergasted. Never before had I come across a company so willing to lose customers; nor have I since.

[–]_sfn 6ポイント7ポイント  (2子コメント)

As a store clerk I can kind of sympathize with the person you spoke with. We have clear guidelines for what to do in a given situation. Say you come into the store with a product you've bought here and you don't have a receipt - I won't do anything for you. You've got an expired gift card? Sorry, can't accept that. Trying to return an item with the receipt 1 day later than our return policy allows? Sorry.

I am paid to do the things my employer wants. I can't give you money, items, etc without their approval because it's their stuff/money, not mine. Also it could cost me my job.

Basically what I'm saying is that maybe the person you spoke to just followed his employer's rules. He probably could have done more but maybe he was also kind of crap at his job. I don't know.

[–]SponTen 4ポイント5ポイント  (0子コメント)

Oh I totally agree with you. Sorry for the confusion; despite referencing the customer service rep, I meant that it was unbelievable on the part of the company.

I work in customer service too so I know that sometimes reps just have to say what they're told to say, or follow specific guidelines :P. It's just amazing to me that a telco gives 0 fucks when a long-term customer asks for something small in order to remain a customer (at least, it seemed small to me). It's weird because I'd had my contract frozen before for various reasons, and I've definitely seen other people freeze their contracts as well. Plus, it's temporary, not something permanent like returning a product.

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    [–]Wolf_Hook 3ポイント4ポイント  (0子コメント)

    Always.

    Just ask for the retention dept.

    [–]blueberry-yum-yum 3ポイント4ポイント  (1子コメント)

    pretty much every Customer service company, With mine though, WE will get you those discounts before you do actually disconnect... source: Satellite Service provider in canada

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        [–]oj109 15ポイント16ポイント  (25子コメント)

        I don't know why, but I find your comment absolutely hilarious - the way the acted surprised.

        But seriously though, if I was a landlord I'd know a bird in the hand is worth more than 2 in the bush. Assuming rent is $2,000 a month, 15% extra would mean $2,300 a month.

        Let's assume they rent it out at the new higher price, and does it quickly within a month. The investor already lost out on $2,000 worth of rent for the sake of $300, so he'll have to rent it out at the new price for 6 months just to break even. Also, there's real estate fees and marketing costs - so he'd have to spend the best part of a year just to recoup the costs of re-renting the place out.

        You did good by moving out.

        [–]zde3rthnjderndezrt 13ポイント14ポイント  (18子コメント)

        Depends on the market obviously. San Francisco / Cole Valley, I got shafted with a 50% increase ($600 a month more) back in 2012. Of course everything else had gone up that much in the mean time, so there was nothing I could do. Now I'm in Oakland having to drive to the Bart every day, and rent kept increasing so I'm still paying around the same anyways. Meanwhile everything in SF is well over $2.5k now. Fuck this place.

        [–]St_Bernardus 7ポイント8ポイント  (4子コメント)

        Where do poor people live around there? Is Oakland just wealthy poor people now?

        [–]zde3rthnjderndezrt 6ポイント7ポイント  (1子コメント)

        Oakland still has dilapidated areas and long-stay hotels that seem to be where poor people congregate. It's also much cheaper if you go north to Richmond or south to San Leandro, at that point you're about an hour from SF so commuters don't usually go that far.

        SF also has a lot of very curious 'hotels' that house mentally ill people, I'm not sure how they continue to operate, presumably they're government mandated or something, since some of these places are right on Market near high-rent areas.

        [–]randomburner23 3ポイント4ポイント  (0子コメント)

        I know someone who is the property manager for one of those places, short story is the government is real strict on who they can rent the units to and a lot of the owners got really detached from the business and started taking the worst of the worst all the time and letting the places fall apart.

        The place he works at now they're trying to turn things around and they've started evicting the real bad tenants/people who were making it not safe to live there and are trying to go for more tenants like eccentric musicians and less like cracksmoking switchblade artists.

        [–]totallyshould 6ポイント7ポイント  (0子コメント)

        Poor people have room mates, sometimes even bunk beds, and/or they have a long commute. I don't know how this is going to work out in the long run when people get tired of commuting an hour and a half each way to work in food service or retail.

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                [–]amethyn 19ポイント20ポイント  (23子コメント)

                It never made sense to me either, especially as half the apartments in the complex were empty. Wouldn't they rather have a paying tenant than an empty apartment?? Apparently not.

                [–]Idle_Redditing 31ポイント32ポイント  (17子コメント)

                It shows how little the apartments cost them.

                [–]PM_ME_UR_OBSIDIAN 14ポイント15ポイント  (13子コメント)

                I mean, once the building is up, the running cost per unit is peanuts. If you have an apartment building with vacant units, it feels like you should try to fill them at almost any price.

                [–]combatwombat007 9ポイント10ポイント  (0子コメント)

                Well, not at any price. Getting the wrong tenant in your place will cost a lot compared to letting it sit empty awhile waiting for the right one.

                [–]Idle_Redditing 6ポイント7ポイント  (10子コメント)

                I wonder why more landlords don't try to undercut their competition. That or more people enter into the market as landlords if they can make such high profit margins.

                edit. I want a more competitive market.

                [–]HedonisticFrog 3ポイント4ポイント  (4子コメント)

                Thats what my dad does. He has an eight unit building and hasnt had a vacancy in years. The profit margin isnt that great, but the tax benefits are.

                [–]Idle_Redditing 4ポイント5ポイント  (3子コメント)

                I wish it were easier to find landlords who charge reasonable rent. They're so hard to find.

                I lived in one house where the landlord charged half of the rent as other landlords for cheap apartments. He still made a profit because the others were squeezing tenants.

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                        [–]step1 18ポイント19ポイント  (1子コメント)

                        Yeah, I tried that right around the time the housing bubble popped. Their reasoning was that more people were renting. I asked if it made sense to rent to obvious credit risks - if they can't pay a mortgage how are they gonna pay your rent? The people working there actually did seem confused and flabbergasted as to why it made sense to hike my rent up by so much given that I was a good tenant. They eventually sent me what was basically a form letter apologizing and saying that there was nothing to be done and that my rent would increase.

                        [–]Painting_Agency 7ポイント8ポイント  (0子コメント)

                        It's gotta be worth calling them on their bullshit

                        My experience with renting from a corporate landlord was that any communication other than a rent check, or a request for repairs done on the specific form they used for that was met with deafening silence. Most of the time, the request for repairs was met with deafening silence too.

                        The only worse landlord I've had was Drago The Psychotic Serbian. So I guess that says something.

                        [–]bhaknu 14ポイント15ポイント  (2子コメント)

                        They are corporate. They are huge. You are part of a formula and money has already changed hands. They have made money before the ink dries on their contracts. I own a SFH that a management company rents out for me. I cannot amortize new tennant risk and renovation costs like corporations can. I would not treat you the same as corporate, but only because my numbers are different, not cause I'm a good guy.

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                          [–]HonestRepairMan 243ポイント244ポイント  (153子コメント)

                          Also, a new job. If you feel you are being unfairly compensated for your contributions at work you need to speak up and be honest about it. If nothing happens you should tell them again. If nothing happens still you should look for a better job, and keep looking until you get one. Skim the market every couple years and poll the co-workers you're tight with to see how much wage disparity exists in your company between positions, tentures, seniority, experience, and real-world productivity. If your workplace is no longer a competitive place to spend your days it is highly encouraged that you find satisfaction. You only live once, and it's not fair to accept a low-income lifestyle if you're a good hard worker. Your work makes other people rich. Make sure they know that you're aware of this. I'm about to be downvoted and called an entitled douche bag but as someone who's got their two weeks in because of this exact situation I cannot express how good it feels to go out there, grab that shit by the horns, and flip the status-quo the finger. Seriously invigorating. Never sell yourself short.

                          [–]juaquin 152ポイント153ポイント  (41子コメント)

                          Agreed, should also be looking at salary. A 1% raise is not even cost of living (ignoring the outrageous rent increase). They need to be giving you 2-3% a year just to keep up with COL. That's not really a raise, that should be expected. Anything less is effectively a decrease in pay.

                          [–]phoenix_silaqui 91ポイント92ポイント  (14子コメント)

                          Someone please relay this to the Department of Labor, attn: whoever is in charge of updating the Wage Determination for my area which hasn't been reviewed in over a decade.

                          Thanks.

                          [–]Rambowe 5ポイント6ポイント  (0子コメント)

                          They dont care, the Federal Government has given its 2M or so employees something like 2% total over the last 7 years.

                          [–]caitRgator 3ポイント4ポイント  (1子コメント)

                          I told I wasn't allowed to get a raise because my company does it's raise evaluations based on the calendar year, and I started in march.... so I will have to wait until january 2016 to get evaulated. 21 months.

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                              [–]buckethealien 43ポイント44ポイント  (85子コメント)

                              I don't think you sound like an entitled douchebag, just someone who is looking out for themselves. This world isn't looking out for you, so why shouldn't you? It only sounds logical that if you are not satisfied with your job that you would find a new one.

                              [–]codemasterv 33ポイント34ポイント  (77子コメント)

                              Ive been at the company i work for for 5 years. Ive worked my way up from intro level to lead. I started discussing pay with a few people im tight with and it turns out that all of us are being under valued. My last yearly raise was only .08 cents. In total with my promotions and yearly raises im only making 1.80 more than when I started. I should also bring up the large increase of the cost of medical insurance ever since Obama Care went into effect. So my pay has actually decreased and my work responsibilities/ hours have all increased.

                              Ive constantly been looking into other businesses and entry level positions. They are offering 5.00 to 7.00 more an hour more than what im getting paid just for entry level positions..

                              I own a home and I can say the only constant has been my mortgage. My water, electric, trash, HOA and cable/ internet have all increased.

                              I've been looking for other jobs to be able to supplement the cost of living and even went though 5 rounds of interviews with Oracle. I got denied the position at Oracle due to my school dates being off on my resume and not matching my background check. One fucking month. Its kinda heart breaking but im soldiering on and have another job offer that I am currently working on.

                              Something really needs to be done with these businesses and overcompensation of the heads and under compensation of the workers vs the growth of the cost of living.

                              [–]IdusPatricius 26ポイント27ポイント  (1子コメント)

                              A one month discrepancy in your school dates? No, they didn't reject you for that. That's just the reason they told you, because they don't want to admit to you what the real reason is.

                              [–]codemasterv 5ポイント6ポイント  (0子コメント)

                              Right!? Thats what I was thinking too, I even got them a certified letter from my school stating how many credits earned, program and dates attended

                              [–]scrantonic1ty 60ポイント61ポイント  (43子コメント)

                              I started discussing pay with a few people im tight with and it turns out that all of us are being under valued.

                              This is where the whole 'don't talk about how much you get paid' thing comes from. It's because if the workers confer too much they'll realise how much they're being exploited.

                              [–]codemasterv 41ポイント42ポイント  (42子コメント)

                              Yeah,

                              Our manager found out about our discussion. He threatened to fire all of the senior personnel if he ever heard about a pay discussion again. Since then, all of the other senior guys have quit. Ive been with the company about 2 years longer than anyone else including the manager.

                              Shit hit the fan a couple years back and about 70% of the team quit including the manager. I was the only one there that knew polices and trained all of the new employees including the now manager.

                              I just recently found out that one of the guys I hired on and trained was making more than me by about $1.00.

                              Thats when I talked to the CEO and he told me I need to come up with a cost analysis on why it would be a viable solution to give me a raise.

                              I have some of the best numbers in the company and I also started when there were only about 10 employees and 1 manager.

                              Now the company has 6 departments over 200 employees and is a multi million dollar a year business.

                              We are currently working on moving locations and 2 of the managers called me into a meeting to provide them with a plan to do the move because they had to report back to the CEO.

                              I told them thats above my pay grade and thats what they get payed to do. I said I will no longer be doing their job for them.

                              They push off an immense amount of their work on to me.

                              The on site manager freaked out and said i cant do that, I just said show me in my job description where it says I have to do your work. The other manager was laughing so hard he had to mute him self on the call.

                              So yeah im done with that shit. If they dont want to value my work and the stuff I do for management then its time to move on.

                              [–]Lysenko 38ポイント39ポイント  (10子コメント)

                              Our manager found out about our discussion. He threatened to fire all of the senior personnel if he ever heard about a pay discussion again.

                              Retaliation for discussing wages is illegal in the U.S. under the NLRA and many similar state laws. I'd probably point that out to the manager, but that may not be the wisest course.

                              [–]ckrr03j 10ポイント11ポイント  (4子コメント)

                              keep doing it, get fired, sue.

                              go for another job, report the reason you lost your last job was harassment.

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                                [–]Iccy5 56ポイント57ポイント  (11子コメント)

                                Fyi you are free to discuss wages without repercussion, him threatening you is harassment and is protected under the Collective Bargaining and you cannot be fired due it even in an at will state.

                                [–]gusty_state 15ポイント16ポイント  (7子コメント)

                                Doesn't mean they won't make up another reason.

                                [–]Iccy5 12ポイント13ポイント  (6子コメント)

                                True, but if you have a spotless record and then talk wages, then all of a sudden have demerits and getting fired, you can sue.

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                                  [–]Gimrigz 17ポイント18ポイント  (0子コメント)

                                  and he told me I need to come up with a cost analysis on why it would be a viable solution to give me a raise.

                                  Move the fuck on, seriously.

                                  [–]NetSage 5ポイント6ポイント  (4子コメント)

                                  Just food for thought it's illegal to not let you talk about compensation with fellow employees. It's really illegal to fire you for it since employers discouraging it is common place sadly.

                                  [–]Tiger3720 14ポイント15ポイント  (0子コメント)

                                  Sounds like the guy knows the price of everything and the value of nothing.

                                  Gotta move on dude.

                                  [–]Average64 9ポイント10ポイント  (0子コメント)

                                  It's because they saw they could push you around. You should have refused them from the beginning, make up your own terms.

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                                    [–]Voradorr 13ポイント14ポイント  (7子コメント)

                                    That's god awful man. I hired a new guy 4 weeks ago and already gave him a $1.00 raise, because he's worth it. If they don't value you move the fuck on.

                                    [–]SlothBabby 22ポイント23ポイント  (2子コメント)

                                    already gave him a $1.00 raise

                                    Hopefully this is on an hourly wage, not a salaried one???

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                                      [–]seeingeyegod 7ポイント8ポイント  (6子コメント)

                                      Oracle sucks to work for and underpays their employees and lays people off all the time anyway

                                      [–]HarvesterConrad 3ポイント4ポイント  (0子コメント)

                                      Yup. I know quite a few people that work there and they seldom have anything good to say.

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                                            [–]dragontail 22ポイント23ポイント  (7子コメント)

                                            Agreed. We've been conditioned for the last 40 years to de-value ourselves as workers at the benefit of business.

                                            [–]KhabaLox 4ポイント5ポイント  (1子コメント)

                                            Also, a new job.

                                            My largest pay increase (100%) came when I turned in my letter of resignation at my first white collar job.

                                            My next largest (~30%) came when I got a new job last year. The 3rd largest increase (~16%) came the last time I changed jobs about 5 years ago.

                                            All of my other increases have been relatively small, maybe topping out at 10% once when went from Temp to Permanent.

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                                              [–]JMV290 22ポイント23ポイント  (0子コメント)

                                              Your best bet might be finding a private party apartment, or renting a room from a coworker. I'd be looking for a new place, if I were you - 17% is pretty steep.

                                              I just had to do this. Depending on if I signed a new 1 year lease or moved to a month-to-month w/ 60 day notice my rent was due to increase 11% or 16%. I hate moving, but where my annual salary adjustment is about 3.5% (1.75% twice per year) for inflation, the jump was enough for me to deal with moving. I went from the corporate complex to a privately owned place and also lowered my rent by about $330 (slightly less because I need to pay for gas heat now, but that's still less).

                                              [–]tedfundy 17ポイント18ポイント  (4子コメント)

                                              This is true. I recently moved from a corporation into a private landlord. I moved because they wanted to increase my rent 46%. My coworker now lives above me and said in the 8 years he has lived there his rent has only increased by $50. Total. So yeah big difference.

                                              [–]jujube88 5ポイント6ポイント  (3子コメント)

                                              So true! Same thing happened to me in San Mateo, CA. Rent started at $2400/month the first year for a 2bed/2bath 900 sq foot apartment. They raised it to $2800 the next year, with a 10-month contract. They gave us different rates depending on how long we wanted to renew our contract for. If we wanted to go month-to-month, it was $3300! Moved out and into a private landlord after the second year, and so glad I did.

                                              [–]StopTop 6ポイント7ポイント  (1子コメント)

                                              I recently moved to a new apartment in my complex. It was a better lapartment in the complex and the price reflected so. It was a hike. However, it wasn't until after I got in my new place that I read my renewal letter which offered me the new rate at my old apartment. $25 more than the increase I already got by moving to the better unit.

                                              Guess I'll be thinking about where to go next year. They wanna play these games, well, I don't mind moving. It's good exercise and it's nice to meet new people.

                                              [–]BillHardDrive 7ポイント8ポイント  (4子コメント)

                                              17% is outrageous, if op was paying $800 op will see an increase of $136 a month or $1,632 a year.

                                              [–]lurked 19ポイント20ポイント  (2子コメント)

                                              or renting a room from a coworker.

                                              This.

                                              My landlord is also a coworker, and he was looking for a good tenant a few years ago, and offered me to rent a place at his 2nd house.

                                              I did, and in the last 3 years I was increased each year by 5$/month, which is barely above 1%... I also pay less than the average, in a really really nice neighborhood, and have access to the swimming pool and patio whenever I like. AND we're also able to talk things through when stuff happens, because we both know the other's a human being as well... it makes things a lot easier when you're in a rough patch.

                                              We even commuted for a few months!(But then he had kids so I stopped commuting with him.)

                                              [–]lolpubs 27ポイント28ポイント  (1子コメント)

                                              Except if anything ever went wrong with the arrangement and you stopped getting along then your professional life is on the line just when you're also struggling with the most basic element of a stable private life.

                                              I would probably rent from a co-worker for some rent savings, but I'm dumb and logically a person really shouldn't do that.

                                              [–]byurazorback 13ポイント14ポイント  (0子コメント)

                                              True, renting from a coworker can be dicey as if there is a conflict you can't escape by going to work and not having to see/deal with them. As always, it is a balance.

                                              [–]amcox93 4ポイント5ポイント  (2子コメント)

                                              I'm in commercial real estate, we don't budget or actualize a rent increase of that caliber ever. We might get 6% on renewal increases on a good month.

                                              [–]onlinebugaboo 6ポイント7ポイント  (0子コメント)

                                              Corporate rentals are the worst.

                                              You'd think they'd be nicer for all that extra money. But no. They're often-times even worse than traditional landlords.

                                              US Housing industry needs a big change for sure.

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                                                [–]aBoglehead 317ポイント318ポイント  (52子コメント)

                                                I'm reading that rent should be 25-35% of income, and luckily the new rent doesn't move me out of that range

                                                This is merely a (not particularly useful) guideline. You should always aim to minimize your rent given your housing requirements. If you find your current rent getting to be too much for your budget, that's when it's time to start looking elsewhere.

                                                [–]CuddlesMcHuggy 160ポイント161ポイント  (35子コメント)

                                                On that note, after 3 years experience, you may want to apply to other jobs. Get a better offer, attempt to negotiate up at your current place.

                                                It's not like when you graduated, where you're begging for a job. You're just looking for something better and the hiring manager needs to impress you with the work, salary, benefits.

                                                [–]IndustrialSabotage 107ポイント108ポイント  (34子コメント)

                                                It's a damn shame, but unfortunately, 3 years experience is needed to land an entry level job in a lot of fields nowadays. Still super competitive.

                                                Personally, I'm relocating away from a populous city just to make sure I can afford to have a mortgage by the time I'm thirty-mumble.

                                                [–]hutacars 98ポイント99ポイント  (24子コメント)

                                                I once saw a listing asking for 8 years of Server 2012 experience. The market is quite competitive these days.

                                                [–]buckethealien 67ポイント68ポイント  (6子コメント)

                                                This just goes to show that it is true that a lot of job requirements are not actually necessary to perform the job being advertised.

                                                [–]ThomasTheTechEngine 67ポイント68ポイント  (4子コメント)

                                                Also proves that HR should not be doing the hiring. Unfortunately in a lot of places if you don't have that "8 years of Server 2012 experience", your application gets shit-canned because that's what the HR intern was told to do. I'm not salty at all...

                                                [–]JonnGotti 13ポイント14ポイント  (2子コメント)

                                                In fairness, HR doesn't typically do all the hiring functions. They widdle down the applicant pool to only those that are qualified and/or pass prerequisite application screens/checks.

                                                So in my experience, I would always phone to phone with HR as an initial interview before they passed me through to at the very least a phone interview (usually a face2face, rather) with a superior that I would theoretically work closely with if I was hired.

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                                                  [–]GaiusBaltar_ 5ポイント6ポイント  (0子コメント)

                                                  I have 3.5 years experience in this industry. I did well today on a phone interview for a job description with 7-10 years requirement. Never let that number keep you from applying. If the description is good and you think you have the skills to do it, apply.

                                                  [–]masked_gargoyle 34ポイント35ポイント  (4子コメント)

                                                  I believe that type of requirement is often a sign that the company is trying to fill the position as cheaply as possible. It's an excuse to decline all local applicants, even if they are fully qualified. When no local applicants can be found to fill the job, the company uses the situation to justify hiring and importing H1B Visa workers.

                                                  [–]attax 18ポイント19ポイント  (2子コメント)

                                                  This. My friend showed my boss his resume, they were interested but told me to go through HR. HR dinged my app because I lived out of town (i was planning to relocate at my own expense). I learned it was just because of my address when my friend inquired. It is ridiculous.

                                                  [–]Page_Won 6ポイント7ポイント  (0子コメント)

                                                  Don't you mean your friend showed his boss your resume?

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                                                      [–]GirlsLikeStatus 8ポイント9ポイント  (3子コメント)

                                                      Well good news: I'm from the future?

                                                      Seeing these things is such a shame. About 5 years ago I saw a job desiring 10 years of social media experience.

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                                                        [–]NotAVeryFlyWhiteGuy 5ポイント6ポイント  (0子コメント)

                                                        Three years is low, but I would encourage anyone looking to move up from their first job to really start hitting it by the two year mark. In my experience, that's when employers start looking past your education and into your experience.

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                                                          [–]WeHaveIgnition 13ポイント14ポイント  (2子コメント)

                                                          There are some cities where the 33% rule just goes out the window. My city most low income people pay around 50% for housing.

                                                          [–]snowbirdie 3ポイント4ポイント  (0子コメント)

                                                          In my city, even people making $150k end up paying over 50% to rent. Of course, in SF area, $150k can be considered low income at times.

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                                                            [–]ChipsOtherShoe 3ポイント4ポイント  (3子コメント)

                                                            It's pretty useless if you live in a major city and don't make a ton of money. Not unheard of to be closer to 50% in those cases.

                                                            [–]kkkimchii 4ポイント5ポイント  (2子コメント)

                                                            I think that is crazy and would be a big factor in my moving to a more affordable city, provided there wasn't some reason I was stuck there.

                                                            I currently spend only about 16% of my after-tax income on housing. Granted, I live in a fairly low cost of living city. If I moved to a city that required me to spend 50% of my net income on housing, I wouldn't be able to save a dime. The only way I would consider it would be if I got a huge increase in salary.

                                                            For this reason, I don't see how some people justify living in major cities like NY or in the bay area.

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                                                              [–]ScalbelaususJim 93ポイント94ポイント  (31子コメント)

                                                              Rent keeps going up where I live, and I'm in one of the cheapest apartments I could find in a non-shitty neighborhood. I make a decent amount of money and still my rent is more than 30% of income. I have no idea how people who make less money than me can afford to live in this city. It sucks but you gotta live somewhere. Maybe look for apartments farther away where they're cheaper if you'd be fine with a longer commute, or get a roommate so you can split rent. Try not to cut back on savings.

                                                              [–]Miss_Sangwitch 54ポイント55ポイント  (17子コメント)

                                                              And people wonder why I change jobs every year at minimum. I like my job, they are great at letting me work from home to accommodate a medical condition I have, the people are nice....but I'm going to have to leave because of rent. I'll need to find a job that can pay me more. Totally sucks.

                                                              [–]Cmdr_R3dshirt 44ポイント45ポイント  (13子コメント)

                                                              Just be careful not to seem like a job hopper. If it's your first 3ish years out of college that's acceptable otherwise employers starting asking why you can't hold down a job for very long.

                                                              [–]pmormr 45ポイント46ポイント  (12子コメント)

                                                              Depends on the industry though. If you're in the tech industry it's very common for top talent to jump every 2-3 years. In fact, especially for low level jobs (entry level software dev, tier 1/2 IT helpdesk, etc.) staying longer than 5 years could be seen as a negative. It could indicate that you're a dedicated and loyal employee, or it could indicate that you've let your skills stagnate and nobody else was interested.

                                                              [–]juaquin 26ポイント27ポイント  (6子コメント)

                                                              You're right. I work in tech and 2 years, maybe 3 is normal. You get really sick of solving the same problems after awhile. If I see more than 3 years on a resume I look for an explanation - they were promoted several times, had a leading role in something, etc. If you just did the same thing for 5 years at the same company, it looks like you stagnated.

                                                              That's not just perception and bias - I've been there, we've all been there in the industry. You deal with the same shit and you get comfortable and just do the 9-5 because you can and it pays well. But eventually your skills start to fall behind and it drives you crazy.

                                                              [–]hardolaf 5ポイント6ポイント  (0子コメント)

                                                              If you just did the same thing for 5 years at the same company, it looks like you stagnated.

                                                              The key is continuous improvement. It doesn't matter if that means different things, same company or different things, different company.

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                                                                      [–]onetimerone 144ポイント145ポイント  (38子コメント)

                                                                      I've been both renter and landlord, both are stressful. Know this, the cost of keeping a property perfect (to attract the highest quality renters) has gone up considerably as well. I'm blessed to have a rental and to a fault I treat my renters like extended family. I have lowered their rent twice due to the condition of cleanliness they keep the property. There are good people on both sides of the equation, I'd rather make less and reward excellence in being good business partners than maximize my monthly income any day. I'm sure there are more landlords who believe as I do. If you have a stellar background check, payment, employment, and rental history use that diamond to shop for a better landlord.

                                                                      [–]wamsachel[S] 38ポイント39ポイント  (28子コメント)

                                                                      Thanks for the insight, in your experience what's the best way to shop?

                                                                      Google and classifieds are all I know

                                                                      [–]onetimerone 59ポイント60ポイント  (8子コメント)

                                                                      As crazy as it sounds take a look on CL, I get so many offers from there it's never taken more than ten days to re rent my home. Look a little higher than what you wish to spend, when you go to look at it act like you're on a employment interview. Before you leave, highlight the great points of "why you" keep it short and offer what you can afford.

                                                                      [–]7Superbaby7 22ポイント23ポイント  (1子コメント)

                                                                      I bought my house last year. Before that, I rented a townhouse for 5 years and lived in corporate owned apartments previously. The corporate owned apartment was a ripoff! I paid $2800/month plus utilities plus $360/month for 2 parking garage spots. When I moved to the townhouse, I got a 2 bedroom, 2.5 bathroom, one car garage and a driveway and a yard for $1800. It was more residential but the landlord was awesome. When the washing machine stopped working, I did my laundry at his house.

                                                                      I found the corporate housing through Google and the landlord through Craigslist. If I was looking again, I would do craigslist again.

                                                                      [–]buschdogg 11ポイント12ポイント  (0子コメント)

                                                                      This.

                                                                      I moved to silicon valley last year... apartment complexes with limited parking are ~3000 a month for a one bedroom in the area.

                                                                      I found a two bedroom house with garage, large patio area, private gardener, and deck for 2450 a month. Thanks, Craigslist!

                                                                      [–]ibanez5150 38ポイント39ポイント  (2子コメント)

                                                                      I agree that CL is a great place to find rentals, but please be aware that scammers will often rent our foreclosed/vacant homes that they do not even own. Anyone can get a locksmith to re-key a house, so just because they have the key and it's vacant, doesn't mean they have the authority to rent it out.

                                                                      If possible, look up tax records to see who the actual owner is.

                                                                      [–]onetimerone 9ポイント10ポイント  (0子コメント)

                                                                      That's a fair point, my neighbors are always nervous about receiving "new neighbors" so normally my street cred is self validating.

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                                                                          [–]harryhov 14ポイント15ポイント  (2子コメント)

                                                                          Go old school and drive around preferred neighborhood. Get friends and colleagues in the mix to let you in on any for rent signs that pop up. I even suggest to look at church classifieds. Best bet is to find back houses or extensions from a garage. You can get privacy at a discount.

                                                                          [–]longdayscometoanend 7ポイント8ポイント  (1子コメント)

                                                                          This works the best in my city. A lot of the nice duplexes and older apartments don't advertise, they just put "for rent" signs out front.

                                                                          [–]ryguytheman 11ポイント12ポイント  (2子コメント)

                                                                          A little inside scoop: Don't use apartments.com, or any of the like.

                                                                          Best ad space goes to the highest bidder. All the apartments that will pop up will be there because they paid to be there. Very corporate.

                                                                          If you're looking for the chill landlord that bakes you cookies, use craigslist.

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                                                                            [–]BrutalJones 11ポイント12ポイント  (0子コメント)

                                                                            I have lowered their rent twice due to the condition of cleanliness they keep the property.

                                                                            There are so many horror stories about landlords that a lot of the good ones are lost in the shuffle. I'm quiet, pay my rent every month on time, and haven't bothered my landlord about anything in years. In return he only raises my rent about 1% per year.

                                                                            [–]ronindavid 5ポイント6ポイント  (1子コメント)

                                                                            Can anyone tell me how to PROVE I'm a good tenant? I have perfect credit, perfect rental history, zero criminal record, I don't have loud parties and don't blast my speakers, I have an emergency savings that will last me 2yrs if I get laid off, etc.

                                                                            I'm every landlord's wet dream. But what is the best way to prove that? I can only go back a few years because previous owners have sold and resold the property I've rented from and then disappeared.

                                                                            [–]onetimerone 7ポイント8ポイント  (0子コメント)

                                                                            The same way you sell anyone, one on one looking the guy right in the eye. It's not always going to work but if you put it out there with sincerity you might be surprised what can happen.

                                                                            [–]KeenanAllnIvryWayans 3ポイント4ポイント  (1子コメント)

                                                                            I have 3 apartments that I own that are currently 15-20%. I feel like I have to raise the rents to meet market because of increased cost in water and property tax this last year. I hate raising rent, but I feel like I have no choice.

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                                                                              [–]ColorsMayInTimeFade 64ポイント65ポイント  (57子コメント)

                                                                              I've been out of college and in the work force for just under 3 years. Each year, the rent increase on my apartment has outgrown the increase in wage salary.

                                                                              I'm assuming you live alone? Paying for a 1-bedroom apartment is almost always a bad deal relative to 2 or 3 bedrooms or a small house.

                                                                              I paid $1000/mo my first year out of college to live by myself. Now I live with three roommates and pay less than half that.

                                                                              [–]wamsachel[S] 65ポイント66ポイント  (46子コメント)

                                                                              Your assumption is correct; looking for roommates seems to be one of the better steps to take. Sucks, because I love living alone

                                                                              [–]crash1082 120ポイント121ポイント  (23子コメント)

                                                                              I'm on the opposite side. Paying the extra $ to live alone looks ideal.

                                                                              [–]Dranthe 45ポイント46ポイント  (8子コメント)

                                                                              Same, after a few... unpleasant roommates in college I won't ever have a roommate again as long as it's in my control. Well worth the extra to live alone.

                                                                              [–]HWatch09 23ポイント24ポイント  (6子コメント)

                                                                              I'm in the same boat. Roommates has its advantages. Someone was always home, help with rides and whatnot. But the constant sink full of dishes, cigarette butts all over the porch, roommates asking for money, nobody cleaned anything. Ya I'm done forever.

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                                                                                [–]beywesley 28ポイント29ポイント  (8子コメント)

                                                                                Yeah I only started living with somebody after I married them. Being able to walk around my living room naked while eating peanut butter ice cream and licking those drops that accidentally fall on my stomach without being judged is totally worth the extra money.

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                                                                                  [–]callthebluff 24ポイント25ポイント  (2子コメント)

                                                                                  Post-college roommates can be tricky. IMO, the best are consultants or the like. They generally have solid jobs so they will pay their share of the rent. Plus, they travel a lot, so they are generally out of your hair for the work week. On the downside, that will generally skew the housekeeping chores to you a little bit, as you are the one around all the time.

                                                                                  [–]Luis_McLovin 8ポイント9ポイント  (0子コメント)

                                                                                  Speaking from experience. I like it.

                                                                                  [–]-del2phi 4ポイント5ポイント  (0子コメント)

                                                                                  But seeing as they aren't there, skewing the housework toward you is perfectly fair. As long as they do cleaning sometimes as well.

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                                                                                      [–]atl2ptown 15ポイント16ポイント  (14子コメント)

                                                                                      If you live in a trendy market (almost any major urban area) rents are going to outpace income growth, period. The reurbanization of America is taking root. It will be years before equilibrium is figured out. If you're still under 1/3rd in an urban market, you've got it pretty good.

                                                                                      [–]itchyouch 13ポイント14ポイント  (12子コメント)

                                                                                      I would hypothesize that the millennial generation will want to suburbanize about 10-15 years later than prior generations. It just takes an extra 10-15 years to get on ones feet after paying down student loans, saving up for a down payment for a house, and finally getting on a career path, if possible.

                                                                                      The desires to "settle down" appears to be a natural inclination in the minds of 20-30 year olds today just as much as the past generation. My anecdata is showing that so many 20-30 somethings are settling down by getting accidentally pregnant. It's also taking a bit extra time to find a partner (choice/analysis paralysis?), but eventually something cracks and a kid or a proposal comes along.

                                                                                      [–]atl2ptown 14ポイント15ポイント  (10子コメント)

                                                                                      There's also a lot more urban trends going on. My building if filled with young professionals raising kids. The desire to drive an hour in traffic is dying rapidly.

                                                                                      [–]ghostofpennwast 6ポイント7ポイント  (5子コメント)

                                                                                      the problem is that urban places aren't building the kinds of buildings they need to be to support that.

                                                                                      the "return to the city" won't work if they don't build more in the cities.

                                                                                      [–]atl2ptown 5ポイント6ポイント  (4子コメント)

                                                                                      What kind of buildings? Condos work just fine. People just have to stop thinking they need 1,500 SF per person in their household.

                                                                                      Most major markets have had a mountain of supply added.

                                                                                      [–]04rnF7kSM3PhjOD8 4ポイント5ポイント  (1子コメント)

                                                                                      This is why self-driving cars need to get here. I could commute from Cincinnati to Cleveland everyday if I just sleep, eat, read, browse Reddit, and watch Netflix in the car for 4 hours.

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                                                                                            [–]Benwahh1 31ポイント32ポイント  (4子コメント)

                                                                                            This is just the reality of Denver. :/

                                                                                            Jobs don't need to increase their salaries because positions will still have hundreds of out of state candidates. The metro area is also projected to grow by an extra million people in the next ten years...as long as there are people willing to pay a higher percentage of their salary on rent to live here, it will only go up.

                                                                                            People sacrifice more to live here. But remember, you have endless amounts of recreation in your backyard. So always keep that into perspective.

                                                                                            [–]Cheapo911 8ポイント9ポイント  (0子コメント)

                                                                                            No kidding, Denver is rough.

                                                                                            Fun side note, I did just see we are the number one city for job dissatisfaction. Which I'm assuming has to do with the cost of living not keeping up with wage increases.

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                                                                                              [–]tcspears 25ポイント26ポイント  (8子コメント)

                                                                                              25-35% is just the rule of thumb. If you live in Boston, you won't find a place for only 25% of your take home until you're making about $100k/year. If you're only making $50k a year (which is pretty entry level) then 25% of your income is about $1000. It's going to depend on your area, but most cities in the north east, $1000 let's you rent out half of a bedroom, or a closet.

                                                                                              I think it's a better idea to figure out what the market rates are in your area, and what makes sense for your income level. Also, as others have said, three years might be a good time to look into asking for a raise or moving somewhere else to give yourself a bump in pay.

                                                                                              [–]meddlepal 10ポイント11ポイント  (3子コメント)

                                                                                              1K is doable in Boston but you're gonna be in Roxbury or somewhere with meh to poor T accessibility. Roommates help a lot.

                                                                                              It's also worth keeping in mind that the 25% should be calculated on the net value of your pay meaning after tax, contributions, benefits are extracted.

                                                                                              In MA people really need to start looking outside Boston at other desirable locations to live. You can find really good deals on places in Quincy, Lowell and Worcester... all places which have both good and awful neighborhoods and a range of prices depending on where you are. These cities are affordable and can house a lot more people and businesses.

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                                                                                                [–]whiteraven4 11ポイント12ポイント  (0子コメント)

                                                                                                Staying with the 25%-35% range isn't ok if you can't afford it according to your budget. It's just a basic guideline.

                                                                                                [–]redditor456456456456 10ポイント11ポイント  (1子コメント)

                                                                                                "I'm reading that rent should be 25-35% of income, and luckily the new rent doesn't move me out of that range, but I will need to change something, I'm thinking either cut back on savings, or move to even cheaper apartments (I'm already living in one of the cheapest places in the area), roommates, etc."

                                                                                                If you're not already renting with roommates this will be, by far, the most effective way to reduce your outgoings on everything from rent to utilities to cable.

                                                                                                In areas with high rent demand solo living is absurdly expensive as you're generally competing for places with a lot of couples who have the purchasing power of a double income stream.

                                                                                                [–]wamsachel[S] 6ポイント7ポイント  (0子コメント)

                                                                                                you're generally competing for places with a lot of couples who have the purchasing power of a double income stream.

                                                                                                Ah good call, I hadn't thought of that

                                                                                                [–]KeyB7 26ポイント27ポイント  (4子コメント)

                                                                                                Have you tried negotiating?

                                                                                                When I was extending my lease I asked them if I signed a 15 month contract instead of 12 months, can they reduce the hike. Now I only pay an additional $20 month over last year instead of $100.

                                                                                                That being said, this is a big issue to consider. Rent increases are getting little ridiculous.

                                                                                                [–]Tivia 27ポイント28ポイント  (19子コメント)

                                                                                                I am surprised more people are focusing on the rent and not the salary. If you are only getting a 1% annual bump, the. Something is wrong. Either you aren't performing where they want, or they aren't compensating properly. If the latter, you need to seek other opportunities. If it is the former you need to sit down with your boss and clarify expectations. Rent isn't going to be sustainable in high growth areas though, so that I'm afraid is normal.

                                                                                                [–]04rnF7kSM3PhjOD8 10ポイント11ポイント  (4子コメント)

                                                                                                I've just been conditioned to never expect raises unless I get promoted or change jobs. This is the reality of the post-2008 world. In my opinion it's 10x more practical to cut expenses than to increase income, i.e. if you stop spending $3 per day on Starbucks that's $1095.75 per year.

                                                                                                [–]Tuckr 4ポイント5ポイント  (3子コメント)

                                                                                                My company hasn't offered raises since 2008. Want a higher salary? Qualify for a promotion.

                                                                                                [–]ThisNameForShame 3ポイント4ポイント  (0子コメント)

                                                                                                Does anybody want to work there? I don't. If you don't even get a cost of living adjustment that's basically a pay cut every year.

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                                                                                                  [–]pointseeker 4ポイント5ポイント  (1子コメント)

                                                                                                  That's true, but only up to a certain level. By mid/peak career, it's often very hard to move your salary up if you've hit a ceiling.

                                                                                                  [–]confidential_finance 4ポイント5ポイント  (0子コメント)

                                                                                                  This greatly depends on the industry. OP doesn't say what they do, but from my experience, working for state and local government you can expect a 2-3% raise about every four years.

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                                                                                                    [–]idrinkjarritos 24ポイント25ポイント  (72子コメント)

                                                                                                    If you live in a cool place, expect your rent to outpace your wages until a recession or real estate crash hits.

                                                                                                    You want cheap rent, move somewhere boring.

                                                                                                    [–]MoarPill 32ポイント33ポイント  (50子コメント)

                                                                                                    The recession actually increased rents in the long run across the country since there was a lot more rental demand from people who had been foreclosed on.

                                                                                                    [–]queen_of_the_spammed 7ポイント8ポイント  (6子コメント)

                                                                                                    Where I lived, the recession killed the housing market dead. This drove up supply in the rental market, and renters had it sweet for about 4-5 years. Then the Chinese investors came, and bought up all the vacant homes, and now supply is super tight. (also. . . drought, and the halt on new construction). People with good paying middle class jobs can't find even a shitty place to rent in my county. I'm hearing nightmare stories about 60-mile commutes.

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                                                                                                      [–]Demonic_8Ball 15ポイント16ポイント  (17子コメント)

                                                                                                      Like Austin, Texas. Apparently it's the place to be, and all the landlords know it. Rent skyrocketing, prices of homes skyrocketing, property taxes skyrocketing. Something has to give eventually, and it won't be pretty.

                                                                                                      [–]siphontheenigma 11ポイント12ポイント  (0子コメント)

                                                                                                      Mine went up 45% after one year in Austin. I voted with my feet and moved out. Now I own a 4 bedroom house for less per month than my 2 bedroom apartment in the same part of town.

                                                                                                      [–]chicagorunner10 2ポイント3ポイント  (2子コメント)

                                                                                                      Yeah, you're absolutely right. And also, yeah, somethings gotta give, and you can bet it'll be sooner than later, because the crazy year-over-year increases have already been going on for roughly 5-6 years. That simply won't be sustainable for much longer.

                                                                                                      The question isn't if, it isn't even when, it's more a question of if it'll just be a gentle, quiet, stabilization in prices, or if it'll be some kind of bust scenario.

                                                                                                      [–]a_quiet_mind 4ポイント5ポイント  (1子コメント)

                                                                                                      somethings gotta give, and you can bet it'll be sooner than later, because the crazy year-over-year increases have already been going on for roughly 5-6 years

                                                                                                      I've been hoping for this since the mid-90s and it hasn't happened yet.

                                                                                                      I went to college in a major city in CA and the apartments near the campus were so overpriced even then (2 br / $1600 mo in mid-90s). Today those apartments are in the $3-4k range, and people keep renting them.

                                                                                                      Sadly, I think rents in highly desirable areas or areas with housing constraints are always going to keep increasing.

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                                                                                                          [–]nkya 105ポイント106ポイント  (2子コメント)

                                                                                                          You are looking at it incorrectly - inflation is 1% so your salary bump doesn't cover any of the rent increase.

                                                                                                          Sorry to make you swear at the screen :)

                                                                                                          [–]QueerandLoathinginTO 38ポイント39ポイント  (0子コメント)

                                                                                                          Inflation also affects the other side of the equation. The same inflated dollars are describing the rent increase, so OP is looking at the situation correctly.

                                                                                                          Inflation is a generalization and estimation of the increase in prices across the entire economy.

                                                                                                          Looking at the microeconomic example of this person's rent, inflation is 17%.

                                                                                                          EDIT: I'm wrong.

                                                                                                          Because of inflation, the price of everything else also goes up. If the 1% wage increase covers 1/3 of the rent increase, that still leaves the rest of the wage left to cover even less of what it could last year.

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                                                                                                            [–]Trucks_N_Chainsaws 13ポイント14ポイント  (8子コメント)

                                                                                                            And this is how the middle class is being destroyed in the US.

                                                                                                            [–]thefuzzylogic 7ポイント8ポイント  (0子コメント)

                                                                                                            25-35% is a fantastic goal, but it's just a goal. As others have said, if you have a well-crafted budget of which rent forms a larger percentage, then there's nothing really wrong with it as long as you're not paying more than the market rate for rent in your area.

                                                                                                            And that's really the issue. Housing in the most desirable cities is generally appreciating faster than incomes, especially in the "squeezed middle". There's nothing much you can do about it except get a better job, move to a cheaper area, or cut down on discretionary spending.

                                                                                                            [–]Demonic_8Ball 7ポイント8ポイント  (0子コメント)

                                                                                                            If you live in Austin, Texas, your rent is probably skyrocketing up every time it gets renewed. Wages are not keeping up with it.

                                                                                                            [–]Parwarrior7 3ポイント4ポイント  (0子コメント)

                                                                                                            This is pretty rough if you have no investments and can't grow your income at a rate that keeps up with the rising cost of living though.

                                                                                                            [–]porscheblack 6ポイント7ポイント  (0子コメント)

                                                                                                            Renting has become far more of a business than it used to be. There are a lot more tricks employed by rental companies than there used to be (such as lowering deposits, not requiring last month's rent, etc.). That seems to be what's happening here.

                                                                                                            The best advice is to talk to your landlord about your rent increase. See if there's a way to freeze the increase this year. Odds are they'll tell you that your increase was determined by some computer algorithm that they're unable to change. However they might be able to work something else out for you. I had rented from a rental company for 3 years and on the 4th year, after my rent was over $300 higher than the first year I was there, I gave my notice and said that unless they would freeze my rate I'd find a new place to live. They said there was nothing they could do however they offered me the exact same apartment layout down the hall at the first year rent price, so I ended up saving over $300/month simply by moving all my shit down the hall.

                                                                                                            [–]Justanick112 4ポイント5ポイント  (0子コメント)

                                                                                                            My boss said that we will go back to the old days of two third of your income will go to rent. I think he is right.

                                                                                                            [–]frostedbutts_ 5ポイント6ポイント  (1子コメント)

                                                                                                            I wish that rent was here only 25-35% of income, mine is 65-70% and my tiny apartment is only that cheap because it's rented by a family friend. I work 50+ hours a week too.

                                                                                                            I'd never live in California if I wasn't born here, and if it didn't require money to move.

                                                                                                            [–]berrie88 4ポイント5ポイント  (0子コメント)

                                                                                                            I know this is not the correct thing to do because I have a lot of credit card debt, but I bought a small house. Rent was over 50% of my income and I could not afford it. My mortgage, insurance, taxes, and pmi is 25% of my income, and I will either pop the money I save from not renting in my savings account or use it on house projects.

                                                                                                            Buying saved me because now I actually have money to pay down my debts and put money in savings.

                                                                                                            Rent is getting way out of control.

                                                                                                            [–]Pannra 3ポイント4ポイント  (0子コメント)

                                                                                                            Roomates are a great way to save money on bills.

                                                                                                            [–]throwawaypf2015 4ポイント5ポイント  (0子コメント)

                                                                                                            my rent went up 35% this past year. you can be sure as hell that i did not receive a 35% (or more) raise.

                                                                                                            [–]sign_on_the_window 4ポイント5ポイント  (3子コメント)

                                                                                                            Austin, Texas?

                                                                                                            [–]Drbillionairehungsly 3ポイント4ポイント  (0子コメント)

                                                                                                            Another denverite here... And I'm paying more than 50% of my income in rent now that my hours at work have been cut (not salaried) and my rent went up two months ago.

                                                                                                            Pretty boned. Figuring a way to get a cheaper place to live, but I'm already extremely lucky with the low rent I'm paying now relative to other places in this area.. Ugh.

                                                                                                            [–]solo9999 2ポイント3ポイント  (2子コメント)

                                                                                                            The cost of living adjustment for my job last year was 1%. Meanwhile my car insurance went up 10%, my rent was bumped 2.5%, my dog's health insurance increased by 25% and pizza delivery now has a $5 service fee :|

                                                                                                            [–]apkonte 4ポイント5ポイント  (3子コメント)

                                                                                                            Before I get started, let me just say I'm assuming you live in the US. Let me know if I'm wrong.

                                                                                                            I'm a landlord in NYC. On average, rent increases here are around 5% but depending on the area and a few other variables it can be as high as about 10%. The fact that your landlord is increasing your rent by 2-3X as much as is average for NYC, the 2nd most expensive place to live in the US, tells me it's because of 1 of 2 things:

                                                                                                            1. He made big improvements last year or the property value has somehow gone up, maybe because of gentrification.
                                                                                                            2. He wants to keep raising the rent on you until you get out, probably so he can then go ahead and make those big improvements (this is more common than you think it is).

                                                                                                            Seriously, OP, that's a a huge increase. He probably wants you out for one reason or another.

                                                                                                            [–]Optimus_Prime3 2ポイント3ポイント  (12子コメント)

                                                                                                            Is your apartment complex full? If they are struggling to fill all their apartments, then you have some bargaining power and can discuss a much lower rent increase or even no increase at all.

                                                                                                            If the apartments are filling up fast, then start looking for another place to live or find roommates.

                                                                                                            [–]wamsachel[S] 6ポイント7ポイント  (11子コメント)

                                                                                                            I live in Denver, and the reports are that the city is expecting several hundred thousand people to be moving in, in the near future.

                                                                                                            I can't tell if the turnover from move-out to new-move-in is fast or slow. But what I can tell is that people gtfo, I may be the old timer on the block if I stay another year.

                                                                                                            [–]savetheplatypi 8ポイント9ポイント  (3子コメント)

                                                                                                            My wife and I left Denver a few months ago for similar rent related reasons. We were both born and raised there, over 30 years of friendships and family ties broken due to being unable to afford the constant ~15% year over year rent increases. Definitely a hard situation to be in if you don't already own a home in that market. Good luck!

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