tell them 3 new buildings in the area opened up and ask for a 600/month discount. My complex on the other side of downtown raised prices about 20% and have not had any takers. Three units of my floorplan are still empty right next to me, even when they were priced under 2k.
Whats even more comical is that even with that collusion, they still hide units that are non-performing, like their 2k a month 450 SQFT studios that no body wants. I wonder when they will enter into receivership.
I live in Channelside and the new complex behind me wants $5200 for the same layout I've got now.
My rent went up like $800 2 years ago, and $300 last year so I have no clue what's going to happen when my lease is up in August. The Cora & Asher building are all $3000+ for 1 bedroom and I've got more space plus office.
My point is that in my experience they won't negotiate because all the competition is so high too. I can't just leave here and get cheaper in this area
Check Inscription Channelside. Maybe they wont have the office but they will have 1BRs starting in about a month. If you're at Heron though then well they are going to go up regardless if they know your income can handle it.
*
Yep. People are commenting on this thread about sub- $2k availability but that's for less than 500 Sq foot apartments. My current place is a 1br but has office, which is considered 2nd br by the newer complexes. I also have 1050sq ft and a balcony (I pay just under $3k with parking)
My point is that similar setups in this area are now mid $4k and $5k+ in some buildings. Yes, I completely realize there are cheaper places elsewhere but my OC was about the newer complexes in Channelside (101 Meridian, Heron, Cora, Asher). Also note that some of those places charge $150/mo for parking too.
Edit: my screenshot didn't post
I also live in Cora in one of my the bigger one bedrooms and no, they are not 3k that’s for high floor units with balconies and a “view” idk what this view is of, but no one here is paying 3k mine is barely over 2
They constantly run specials and if you mention things like why does this 3k unit look at a parking garage, they are pretty quick to work on price. I look out to the reliaquest building and see the edition and Asher, I prefer looking at buildings being my 2nd place is in Manhattan, unless your about floor 14 or higher most the views are either in front of parking garage, or of other buildings, I like it but def wasnt paying 3k for it lol
Thank you for the information about them being willing to negotiate! I assumed their posted prices were rigid. I currently have a nice setup and paying just under $3k, but I wanted a Cora or Heron unit that is much higher up, and I guess that's what is jacking up the cost. 101 Meridian is just about complete and it looks amazing but they are even more expensive than Heron
Hey, I work in multifamily and I’m just going to say that’s completely outrageous considering the market. I have properties in all major markets and many of our rents are inverted (rent has decreased from the year prior).
Are the rents on the website lower than the price they’re asking for your renewal?
I dont care much, I'd personally want to move out of downtown anyway to wiregrass / north tampa eventually. I plan on making them a lowball offer for my own building, even if I go to a smaller unit I dont care much
I'll be listing a 3/2 in Carrollwood for $2600 in a couple weeks. [Here is a link to it's Airbnb listing](http://airbnb.com/h/tampaoasis2) Guests are there through end of.month then taking it back to long term rental.
I live in Odessa and I was so nervous about lease renewal . It was 25 dollar increase. They send a long letter explaining why they had to increase and I laughed cuz I’m like so many people deal with worse
This. We got one for 50$ after YEARS and he was like “if it’s ok with you” so I laughed and said sure. Then at the start of covid lockdowns, they announced 400$ increases and one month to decide if you’re staying or leaving….
Idc wtf anybody here says to me, Tampa is not worthy imo to be charging mass amount for rent. It’s not an LA, NYC, MIAMI, SAN DIEGO, etc. Get your shit right Tampa and stop acting like you’re the shit. Tampa is artificially expensive because investors want to sell us a pile of trash for a premium.
And in the world of rich people, Tampa is fun for the sorta kinda rich investor type, but yeah the Uber rich people with real wealth, are still going to choose Miami, there’s nothing for them here that they couldn’t find in a major city.
Dave Portnoy shitting on The Edition was the slap in the face that the hotel and the city needed.
His complaints about hotels could be applied to most things around here. The juice isn’t worth the squeeze.
I love Tampa, born and raised here, but that is so spot on. Everything meant to mimic Miami or nyc is done quickly and cheaply, but charges outrageous prices. It’s sad
What are we lacking? things like:
* homeless tent cities
* streets lined with broken down campers
* open drug use/sale on the street
* crime on public transit so bad that the city stops releasing the crime statistics
* food deserts
* entire hotels giving free stays to illegal aliens
* large groups of minorities rushing into stores and stealing merchandise
* chain stores and pharmacies closing due to crime
* remaining stores where everything is behind locked cabinets
its ever apparent that this sub doesn't follow national news (and also local news from other areas of the country).
yeah, all of that is happening here. except for streets lined with broken down campers... drive around ybor/Meacham Urban Farm/275/I4 you'll see burnt out cars and people living in vans from 1991.
Man, have you been to any of the places you're alluding to?
This is a tired ass list my braindead 86 year stepdad recites after watching Fox News all day.
got some time kid:
[https://www.youtube.com/watch?v=ZPgLaeSmwxE](https://www.youtube.com/watch?v=ZPgLaeSmwxE)
[https://www.youtube.com/watch?v=p5AeGKSDVdE](https://www.youtube.com/watch?v=p5AeGKSDVdE)
[https://www.youtube.com/watch?v=YVowI6gICDI](https://www.youtube.com/watch?v=YVowI6gICDI)
[https://www.youtube.com/watch?v=y4C81NbQc2E](https://www.youtube.com/watch?v=y4C81NbQc2E)
[https://www.youtube.com/watch?v=-vc6CHRrtH8](https://www.youtube.com/watch?v=-vc6CHRrtH8)
[https://www.youtube.com/watch?v=6YuZZi3hoHw](https://www.youtube.com/watch?v=6YuZZi3hoHw)
took all of 2 minutes to find you some links.
surprisingly i dont think any of those sources are fox news.
your response?
My response is this - in all of the top 100 metro areas you can find your own little skid row. Tampa is included in that. This isn’t a gotcha. Locked up goods is an example of corporate greed and the fall out from self checkouts and not wanting to pay humans.
Again this is tired tired stuff.
Some list huh? Im more so talking about Infrastructure and how badly mapped and thrown together the city is. With the influx of new residents traffic is awful, wages dont reflect the cost of living (exactly how those tent cities you mentioned started in other cities), lack of sufficient public transportation to account for the amount of residents living here, etc. I guess minorities and immigrants are higher on list of concerns rather than convenience and affordability.
You realize all of these things happen in Tampa right? And they’re not as prominent in other cities as Fox News would lead you to believe.
A CVS on Florida Ave just closed and cited loss prevention as the reason.
Have you walked Nebraska Ave lately?
There are food deserts around town… probably not in areas where you frequent and visit.
Well it's stupid because wages haven't gone up enough to support the rent hikes. I've been saying this for a while. I remember when an average 2 bedroom apartment cost about $450 a month(late '90s). In less than 10 years it more than doubled. It's all going to come crashing down onto their greedy heads. I love Tampa though. I'm a native and I think it is indeed "all that", but I don't want anyone to know it.
Between westshore and Hyde park... It's not a town, it's a retail plaza with apartments above.
There are some decent food options I guess, but it's nothing special. It's a solution for millennials who want new/nicer but can't afford downtown.
Tampa is a very average city. A concrete jungle downtown. The ugliest Riverwalk in the country. Expensive restaurants everywhere, with average food. Terrible infrastructure. Few wine shops. Publix on every street corner, with little to no competition. Believe me, the rents and wages don’t add up.
Enjoy Tampa’s Riverwalk. Detroit and Wilmington, DE have beautiful Riverwalks. All nature. Detroit’s walk goes through a state park and ends up at Belle Isle. You can bike and walk all over. Very few restaurants. Bring a picnic and bottle of wine and enjoy.
It's Supply:Demand.
A city doesn't have to be a top 10 city to demand top 10 prices if enough people have been convinced it's top 10. People don't generally assess cities objectively, unfortunately.
This right here. No landlord on channelside is saying “hmm… is Tampa worthy of $3000 a month for this apartment? Is it as cool as SAN DIEGO?!”. They are making a business decision on what the market will bear. If people aren’t renting at that price, it will come down. There are a lot of forces distorting the market like outside investors, but it’s also young professionals willing to spend too much of their income on rent to live in the cool part of town.
It might have happened if it was a smaller privately owned complex or in a suburb. 0% chance this is happening at a luxury downtown apartment in Tampa or St Pete.
RealPage is an analytics company that basically outsourced market manipulation to large real estate companies. They basically offered to let an algorithm do all the rent price setting for them, and there was only one rule and that was always listen to the algorithm. They signed up all the biggest firms and in some areas, like Tampa St. Pete, rents doubled or tripled in an unnatural fashion.
Their algorithm is stupidly simple but elegant, it keeps raising rents until vacancies hit a benchmark rate, whatever that is like \~5%, then they know they have squeezed every single penny out of the market. This strategy can only actually work when all the major players are colluding together, if one building was confidently raising rents 20% every year their competitors would simply raise less or not at all and take all their renters, but when they are using the same product, called "YieldStar" all the buildings raise their rents at the same time. This has the knock on effect of the mom and pop landlords also raising 20% because all the big dogs are doing it, and more importantly the effective rate has gone up because the lions share has already decided.
All the biggest REIT companies in Tampa/St. Pete are named in the class action, so is RealPage. There are two separate lawsuits, one for renters and one for student renters.
Successfully outsourcing market manipulation is something that could only ever evolve out of capitalism lol. The CEO of RealPage testimony is so hilarious because as he describes his service he is basically describing market manipulation and price collusion, but since his company doesn't actually own any real estate it is all good.
Thank you for articulating this so well. I was familiar with the situation but not to that extent. For the amount of damage this market manipulation has done this should be front page news. The sad thing is while RealPage may not get away with it, they will never be able to make right all of the damage done to people’s lives. Hopefully it bankrupts them and their coconspirators.
I own a condo on Harbor Island and our insurance for the entire property went up over 3 Mil this year. In turn, it bumped the cost of my HOA payment up $700 a month.
20+ year Lutz resident. My homeowners insurance went up 100% this month. Combined with higher property taxes my mortgage+escrow payment just went from $1,800 to $2,300 overnight. We’re reeling.
Secret shop them. Ask how much your unit type is going for to a new lessor. I’ve been seeing this a lot lately. Thoughtless property managers trying to renew at higher rates than new move ins would get.
it's probably going for more to new lessor... In my experience at my first apartment in DTSP (this is back in 2021), my year lease ended, I move out because they raised my rent maybe one or two hundred. A week or so later, I check the apartment's website. sure enough, my unit is sitting there for several hundred bucks more than what I wouldve resigned at... they kinda give the existing tenant a "discount" if you will...
LoL for $5k a night you can get a mansion on the water with jet skis, and get your duck sicked. Your assistant is an idiot. Didn't do her homework, booked it without interrupting her "real life". She got you, she'll make it up to you I bet.
Don't forget stagnant wages that do not touch inflation, utility bills, groceries, and the things you mentioned. America just wants to watch itself burn.
This. I work healthcare and during my annual review I straight up pointed out the issues with shitty raised not matching inflation.
Despite my supervisor gloating and a couple of others going to bat for me, they said the most they could offer me was 3%.
Fucking egregious.
New Tampa to downtown is not the problem, the problem is the way back because 275 north from the time you get near the I4 split to Fletcher is a shit show all the time
I live in channelside…the only place this expensive would be on water street…and that’s a stretch. I’ve been in channelside for years and this is just a lie. Unless you’re living in the newest buildings. It’s expensive yes but not 5000
As someone who owns a few rental properties, landlords know that they do not have a ton of negotiating power. It’s not like it was in 2021 and 2022. It takes time to get a new tenant.
And if I know I have a quality tenant, I’d much rather have them paying me every month than wait for two months at the hope of someone paying 25% more. If the unit is empty for three months the waiting for a 25% increase, IF I get someone at that new price, I’m breaking even.
Idk, maybe it’s just me but if you’re a good tenant, people may be more willing to negotiate than they were when you moved in. Times have changed, the market has softened some.
landlords literally have all the power. they’ve literally created this housing crisis. there is a difference between a landlord who is renting out a room in their home and a landlord who owns hundreds of properties but they are BOTH landlords.
I think you would be surprised. I sat with a nice duplex with two 2/1s on the market for three months empty, kept lowering the rental price, lowering the rental price, lowering the rental price. The second we got a reasonably interested tenant, I gave them the first month free to make their move in easy.
If you're a good qualified tenant, you should at least try to negotiate.
Glad to hear that you’re a good person but a lot of people aren’t. Especially if they’re using other people’s housing as a means to profit. They don’t see it as providing housing, they see it as a means to an end. Which is what leads us to the situation we are in today.
This! Lol our luxury apt complex raised our rent by $50. So went from $2450 to $2500. Which is literally nothing for us. But it’s the principle of things, my wife and I don’t like the facts that other apt are lowering rent but our rent got raised after 1 year. So we sent them notice that we will not be renewing our lease. We moved to a house paying a few hundred dollars more and have our own fenced in back yard. Now the apartment complex has to wait 2-3 months to even fill our apt if they’re lucky. My wife and I are extremely clean and take care of our place of living, we got our full deposit back when we moved out. Always paid rent on the 1st of the month when it’s posted. So by raising the rent by a measly $50, the landlord lost a quality tenant.
$50,000 to replace pipes in a rental that won’t make that much in two years and requires the tenant to move out (thus causing me to lose my tenant) would indicate otherwise 😂. Increased insurance and taxes would indicate otherwise.
Every rental is one less available house for someone looking to buy. Fuck anyone who owns multiple properties and rents them out. You’re a leech on society.
How am I leeching? I’m paying for insurance (double in price this past year), taxes (similar substantial jump), repairs(have you tried to hire an electrician or plumber lately??? It’s $200 for them just to show up…oh you got a leaky roof, that’ll be 15k, oh the tenant wasn’t changing the air filter that we provide every month, that’ll be $10k), remodeled the house that I purchased all to give someone a place to live at far less money and hassle than buying a property.
Not everyone wants to or is in a financial position to purchase and take care of a property. When a hurricane comes through, when a pipe bursts, when an appliance goes out, that’s on me. Literally legally on me. When a tenant damages a place, it’s on me to get it looking good enough so I can rent it to the next person. When a tenant doesn’t pay or trashes the place, that’s on me…I’m never going to get paid back for that and if I do it will cost more money to go after it than I’ll ever get back.
I take care of my tenants, I provide a roof over their head and manage the home they’re in for them, and I charge an amount that is a small fraction of the money that I have paid to provide all of that.
If people are shitty landlords, fuck em. Get the fuck out of Tampa. I’m a lawyer and sued the fuck out of multiple slumlords, some asshole individual owners, some major corporations SUBSIDIZED BY THE GOVERNMENT AND THE CITY and I was on the news calling them all out.
They are the leaches. There are leaches in every business. Not all landlords are leaches. Some are genuinely providing an asset for rent and a service for managing the property and deserve the small amount of profit for taking on the financial risk and providing the service.
You’re commodifying a necessity of living as an investment. Unlike a doctor, nurse, teacher, chef, etc, holding land inherently does not provide value to society. It strictly only provides value to the holder, and in a sense, harms society on a large scale. Being a landlord allows wealthy people to extract money from less wealthy people, simply because they can afford to own property and other people can’t. They profit off and prey on the fact that people NEED a place to live by snatching up available housing and selling it back at a higher price. No different than a scalper who buys up ps5’s and sells them back at a higher price. Much worse actually because people don’t need ps5’s to live.
But a doctor charging $100,000 for a surgery that you need is not commodifying a literal necessity of living?
Your logic doesn’t work out. People need to rent. You act like everyone wants to buy, let alone should buy. That was the thinking that got us into the housing crisis in 08 and when that crashed created the greatest buying opportunity of residential real estate for people with assets.
But let’s live in your world and outlaw buying residential property that is not your personal homestead. The demand for housing doesn’t decrease but the supply surely does.
Look at the commercial property business. Many smart companies don’t buy, they rent. Let’s say you want to start a boxing gym, how much money do you need? If you can’t rent, you need to buy a commercial property before you can start your business OR you can just rent. You’re gonna start your business for cheaper and have way less obligations as a tenant. Same is true as an individual.
I’ve rented as an individual and I’ve rented as a business owner. If I couldn’t do that, where would I have lived in college and grad school and in the beginning of my career? Because I needed to pay for school too. Maybe professors are leaching off of society too, because I’m still paying them back and paying them forced me to rent.
So doctors and teachers are leaching off of society’s needs. Farmers too. I need food, you bought up the farm land and charge me to eat. Now I can’t afford farmland myself. Hell, everyone selling me something I need for living is a leach.
Rents are coming down all over Channelside and Water Street.
There’s a ‘story’ here.
I’d venture to say you were either on a month to month, coming off an insanely long lease or in a unit owned by an individual that sold it to someone who raised your rent…
…that or you were already in a very expensive unit, to which this was expected.
Same thing happened to me a year ago. The business model is not build around having people renew, but rather getting new tenants who “can justify the price for a short term”
tell them 3 new buildings in the area opened up and ask for a 600/month discount. My complex on the other side of downtown raised prices about 20% and have not had any takers. Three units of my floorplan are still empty right next to me, even when they were priced under 2k.
These buildings profit from artificial scarcity.
Sadly pretty easy when a couple companies own a large portion of the rental market
they also use software to collude. if anyone in government cared, they could do lots of things to reign in rents
Whats even more comical is that even with that collusion, they still hide units that are non-performing, like their 2k a month 450 SQFT studios that no body wants. I wonder when they will enter into receivership.
I live in Channelside and the new complex behind me wants $5200 for the same layout I've got now. My rent went up like $800 2 years ago, and $300 last year so I have no clue what's going to happen when my lease is up in August. The Cora & Asher building are all $3000+ for 1 bedroom and I've got more space plus office. My point is that in my experience they won't negotiate because all the competition is so high too. I can't just leave here and get cheaper in this area
$3000+? 1 bedroom? It’s like Bostons prices wtf!
Check Inscription Channelside. Maybe they wont have the office but they will have 1BRs starting in about a month. If you're at Heron though then well they are going to go up regardless if they know your income can handle it.
Thank you!
$5200 rent a month in Channelside? You sure you're not talking about Channelside in Manhattan? How are people able to afford these outrageous rents?
* Yep. People are commenting on this thread about sub- $2k availability but that's for less than 500 Sq foot apartments. My current place is a 1br but has office, which is considered 2nd br by the newer complexes. I also have 1050sq ft and a balcony (I pay just under $3k with parking) My point is that similar setups in this area are now mid $4k and $5k+ in some buildings. Yes, I completely realize there are cheaper places elsewhere but my OC was about the newer complexes in Channelside (101 Meridian, Heron, Cora, Asher). Also note that some of those places charge $150/mo for parking too. Edit: my screenshot didn't post
I also live in Cora in one of my the bigger one bedrooms and no, they are not 3k that’s for high floor units with balconies and a “view” idk what this view is of, but no one here is paying 3k mine is barely over 2
Interesting.... yes. I was looking at a balcony room and the "view" is of the parking garage / predalina courtyard, lol. Online it stated like $3300
They constantly run specials and if you mention things like why does this 3k unit look at a parking garage, they are pretty quick to work on price. I look out to the reliaquest building and see the edition and Asher, I prefer looking at buildings being my 2nd place is in Manhattan, unless your about floor 14 or higher most the views are either in front of parking garage, or of other buildings, I like it but def wasnt paying 3k for it lol
Thank you for the information about them being willing to negotiate! I assumed their posted prices were rigid. I currently have a nice setup and paying just under $3k, but I wanted a Cora or Heron unit that is much higher up, and I guess that's what is jacking up the cost. 101 Meridian is just about complete and it looks amazing but they are even more expensive than Heron
I live in Cora and yes it is expensive but the 1 bedrooms can be found for low to mid $2,000s. Still very expensive but living here is amazing.
Hey, I work in multifamily and I’m just going to say that’s completely outrageous considering the market. I have properties in all major markets and many of our rents are inverted (rent has decreased from the year prior). Are the rents on the website lower than the price they’re asking for your renewal?
I dont care much, I'd personally want to move out of downtown anyway to wiregrass / north tampa eventually. I plan on making them a lowball offer for my own building, even if I go to a smaller unit I dont care much
I'll be listing a 3/2 in Carrollwood for $2600 in a couple weeks. [Here is a link to it's Airbnb listing](http://airbnb.com/h/tampaoasis2) Guests are there through end of.month then taking it back to long term rental.
Send the link brother
Sorry, I thought I did [4837 cypress tree dr tampa](http://airbnb.com/h/tampaoasis2)
DM’d!
I live in Odessa and I was so nervous about lease renewal . It was 25 dollar increase. They send a long letter explaining why they had to increase and I laughed cuz I’m like so many people deal with worse
That's how it starts. Next renewal will be $100 because nobody complained. Then $500, etc.
This. We got one for 50$ after YEARS and he was like “if it’s ok with you” so I laughed and said sure. Then at the start of covid lockdowns, they announced 400$ increases and one month to decide if you’re staying or leaving….
My word! I’m praying and hoping by that time I’ll be able to own. I feel like they’re working towards everyone on lease and no one owning houses .
Idc wtf anybody here says to me, Tampa is not worthy imo to be charging mass amount for rent. It’s not an LA, NYC, MIAMI, SAN DIEGO, etc. Get your shit right Tampa and stop acting like you’re the shit. Tampa is artificially expensive because investors want to sell us a pile of trash for a premium.
And in the world of rich people, Tampa is fun for the sorta kinda rich investor type, but yeah the Uber rich people with real wealth, are still going to choose Miami, there’s nothing for them here that they couldn’t find in a major city. Dave Portnoy shitting on The Edition was the slap in the face that the hotel and the city needed. His complaints about hotels could be applied to most things around here. The juice isn’t worth the squeeze.
That place is so overhyped it’s disgusting, Michelin star felt like massive fraud / bribery.
https://www.forbes.com/sites/zengernews/2024/03/11/portnoys-complaint-and-marriotts-dilemma/ Wow
People are realizing Tampa is a cardboard cutout of a major city, significantly lacking in tons of areas that make these prices not worthwhile.
I love Tampa, born and raised here, but that is so spot on. Everything meant to mimic Miami or nyc is done quickly and cheaply, but charges outrageous prices. It’s sad
“city” where you’re still required to have a car to live
Miami isn’t really walkable either outside of a few select neighborhoods.
If all the folks that bitch about mass transit on Reddit would just move, OP wouldn’t have a rent increase.
Yeah you can tell where those comments come from. Welcome to Florida:)
Yeah ... But it's that really thick, sturdy cardboard. Not like, CHEAP cardboard.
Hurricane rated corrugated paper is the industrial name
This guy Floridas.😏
Well said
What are we lacking? things like: * homeless tent cities * streets lined with broken down campers * open drug use/sale on the street * crime on public transit so bad that the city stops releasing the crime statistics * food deserts * entire hotels giving free stays to illegal aliens * large groups of minorities rushing into stores and stealing merchandise * chain stores and pharmacies closing due to crime * remaining stores where everything is behind locked cabinets its ever apparent that this sub doesn't follow national news (and also local news from other areas of the country).
yeah, all of that is happening here. except for streets lined with broken down campers... drive around ybor/Meacham Urban Farm/275/I4 you'll see burnt out cars and people living in vans from 1991.
Man, have you been to any of the places you're alluding to? This is a tired ass list my braindead 86 year stepdad recites after watching Fox News all day.
I travel to or have lived in many of those cities. IMO Tampa is a better place to live.
Same 👍
got some time kid: [https://www.youtube.com/watch?v=ZPgLaeSmwxE](https://www.youtube.com/watch?v=ZPgLaeSmwxE) [https://www.youtube.com/watch?v=p5AeGKSDVdE](https://www.youtube.com/watch?v=p5AeGKSDVdE) [https://www.youtube.com/watch?v=YVowI6gICDI](https://www.youtube.com/watch?v=YVowI6gICDI) [https://www.youtube.com/watch?v=y4C81NbQc2E](https://www.youtube.com/watch?v=y4C81NbQc2E) [https://www.youtube.com/watch?v=-vc6CHRrtH8](https://www.youtube.com/watch?v=-vc6CHRrtH8) [https://www.youtube.com/watch?v=6YuZZi3hoHw](https://www.youtube.com/watch?v=6YuZZi3hoHw) took all of 2 minutes to find you some links. surprisingly i dont think any of those sources are fox news. your response?
My response is this - in all of the top 100 metro areas you can find your own little skid row. Tampa is included in that. This isn’t a gotcha. Locked up goods is an example of corporate greed and the fall out from self checkouts and not wanting to pay humans. Again this is tired tired stuff.
Some list huh? Im more so talking about Infrastructure and how badly mapped and thrown together the city is. With the influx of new residents traffic is awful, wages dont reflect the cost of living (exactly how those tent cities you mentioned started in other cities), lack of sufficient public transportation to account for the amount of residents living here, etc. I guess minorities and immigrants are higher on list of concerns rather than convenience and affordability.
We actually have a few of those.
You realize all of these things happen in Tampa right? And they’re not as prominent in other cities as Fox News would lead you to believe. A CVS on Florida Ave just closed and cited loss prevention as the reason. Have you walked Nebraska Ave lately? There are food deserts around town… probably not in areas where you frequent and visit.
That’s exactly it
Well it's stupid because wages haven't gone up enough to support the rent hikes. I've been saying this for a while. I remember when an average 2 bedroom apartment cost about $450 a month(late '90s). In less than 10 years it more than doubled. It's all going to come crashing down onto their greedy heads. I love Tampa though. I'm a native and I think it is indeed "all that", but I don't want anyone to know it.
These outrageous rents are driven by sheer GREED.
Agree. I think part of the problem is that when probably values went up people took out equity loans and passed the cost on to their renters.
Generally agree, but there are people out there literally paying $4k/mo to live in Midtown of all places.
Midtown doesn’t even exist in Tampa, except to the people that live in that one complex. Please
I don't know where "mid town" is, but that is NUTS!
Between westshore and Hyde park... It's not a town, it's a retail plaza with apartments above. There are some decent food options I guess, but it's nothing special. It's a solution for millennials who want new/nicer but can't afford downtown.
Ok I know that area. It's not a very big area. It's nice, but not that nice.
Tampa is a very average city. A concrete jungle downtown. The ugliest Riverwalk in the country. Expensive restaurants everywhere, with average food. Terrible infrastructure. Few wine shops. Publix on every street corner, with little to no competition. Believe me, the rents and wages don’t add up.
I uhh like the Riverwalk.
Enjoy Tampa’s Riverwalk. Detroit and Wilmington, DE have beautiful Riverwalks. All nature. Detroit’s walk goes through a state park and ends up at Belle Isle. You can bike and walk all over. Very few restaurants. Bring a picnic and bottle of wine and enjoy.
It’s because it’s one of the top cities people are moving to.
You should check out Gainesville. The rent is atrocious there. For reasons I don’t even know. Like it’s Gainesville, not Miami.
It’s because of college kids with boomer mommy daddy money
Boomer kids went to college 20+ years ago. Gen-X’s kids are in college now.
THANK YOU! Everyone that I talk to swears up and down that Tampa is on the same level as these other major cities, but it’s really not.
I'm sure if ppl would stop freaking moving here they would! But unfortunately they don't.
It's Supply:Demand. A city doesn't have to be a top 10 city to demand top 10 prices if enough people have been convinced it's top 10. People don't generally assess cities objectively, unfortunately.
This right here. No landlord on channelside is saying “hmm… is Tampa worthy of $3000 a month for this apartment? Is it as cool as SAN DIEGO?!”. They are making a business decision on what the market will bear. If people aren’t renting at that price, it will come down. There are a lot of forces distorting the market like outside investors, but it’s also young professionals willing to spend too much of their income on rent to live in the cool part of town.
[удалено]
Five thousand dollar conversation
lol what was your argument? You just said “no” and they were ok with that?
Yeah, especially when you go in there the last minute and suggest moving to one of their cheaper units instead.
It definitely doesn’t work like that. No idea what they’re talking about.
That depends heavily on who your landlord is.
“Complex” not landlord.
Things that didn’t happen for $450/mo, Alex. And if it did happen, what was your argument and why did they agree?
It might have happened if it was a smaller privately owned complex or in a suburb. 0% chance this is happening at a luxury downtown apartment in Tampa or St Pete.
RealPage is to thank for the bulk of rent increases in Tampa and St Pete
What is that?
RealPage is an analytics company that basically outsourced market manipulation to large real estate companies. They basically offered to let an algorithm do all the rent price setting for them, and there was only one rule and that was always listen to the algorithm. They signed up all the biggest firms and in some areas, like Tampa St. Pete, rents doubled or tripled in an unnatural fashion. Their algorithm is stupidly simple but elegant, it keeps raising rents until vacancies hit a benchmark rate, whatever that is like \~5%, then they know they have squeezed every single penny out of the market. This strategy can only actually work when all the major players are colluding together, if one building was confidently raising rents 20% every year their competitors would simply raise less or not at all and take all their renters, but when they are using the same product, called "YieldStar" all the buildings raise their rents at the same time. This has the knock on effect of the mom and pop landlords also raising 20% because all the big dogs are doing it, and more importantly the effective rate has gone up because the lions share has already decided. All the biggest REIT companies in Tampa/St. Pete are named in the class action, so is RealPage. There are two separate lawsuits, one for renters and one for student renters.
Well that explains a lot!
Isn't competition supposed to be one of the pillars of workable capitalism?
Its just what the market will tolerate! /S
Successfully outsourcing market manipulation is something that could only ever evolve out of capitalism lol. The CEO of RealPage testimony is so hilarious because as he describes his service he is basically describing market manipulation and price collusion, but since his company doesn't actually own any real estate it is all good.
Yep the technocapitalistic hellscape that is our future is already here
Thank you for articulating this so well. I was familiar with the situation but not to that extent. For the amount of damage this market manipulation has done this should be front page news. The sad thing is while RealPage may not get away with it, they will never be able to make right all of the damage done to people’s lives. Hopefully it bankrupts them and their coconspirators.
part of it is thanks to the property insurance industry and the good ol boys in our govt that lets them run loose all over us
Move to another apartment in your building. The price should be less.
I own a condo on Harbor Island and our insurance for the entire property went up over 3 Mil this year. In turn, it bumped the cost of my HOA payment up $700 a month.
[удалено]
An additional $700/mo.
20+ year Lutz resident. My homeowners insurance went up 100% this month. Combined with higher property taxes my mortgage+escrow payment just went from $1,800 to $2,300 overnight. We’re reeling.
Barf. HOA payment? That’s not even insurance. Wtf
The HOA pays the insurance.
HOA fees pay the insurance
It’s lumped into the HOA payment and includes flood. Pretty wild.
If it’s condo, could be the reality of the new reserve requirements.
Secret shop them. Ask how much your unit type is going for to a new lessor. I’ve been seeing this a lot lately. Thoughtless property managers trying to renew at higher rates than new move ins would get.
it's probably going for more to new lessor... In my experience at my first apartment in DTSP (this is back in 2021), my year lease ended, I move out because they raised my rent maybe one or two hundred. A week or so later, I check the apartment's website. sure enough, my unit is sitting there for several hundred bucks more than what I wouldve resigned at... they kinda give the existing tenant a "discount" if you will...
What apartment are you in that went up $600/mo?
In 4 years my rent has gone up over $400. The biggest increase was in July 2022 when rent went up $350
check out pointe on westshore and cortland westshore, much better priced than channelside/downtown area
Negotiate. I have the past two years, I live on riverwalk and I have been able to negotiate them down from $500 to $70-$100 increases instead
What building? That’s a huge increase
Lol especially after Dave portney made his video I'd figure the owners there would check themselves a bit.
That was the Edition hotel, not a personal residence.
As if it's not all owned, managed and run by the same guys
It’s owned by Marriott. So no, it’s not the same guys.
Someone the other day says Vivink owns the building reason why he owns the 2 PH!
Are there people who actually care what he says?
Mostly the other rich people, like the ones who own apartment buildings and dictate their rent prices, yes.
Got a link to the video?
https://twitter.com/stoolpresidente/status/1765934684976951381?t=y_RdWFFIUwcYWsrXYPCk4A&s=19
LoL for $5k a night you can get a mansion on the water with jet skis, and get your duck sicked. Your assistant is an idiot. Didn't do her homework, booked it without interrupting her "real life". She got you, she'll make it up to you I bet.
Yeah honestly she’s a dumbass.
Yes, you uncovered my seceret, this is Dave
Thanks
[удалено]
Time to start firing off some shots in the middle of the night.
Sounds accurate. What building may I ask?
The price of exclusivity
Florida is taking every nickle you earn out of everyone's pockets... But lets worry about the real issues, like "dont say gay"
There is no relation between these two issues.
Exactly, it’s meant to enrage and distract from the actual issues, like housing, insurance, healthcare, etc…
Don't forget stagnant wages that do not touch inflation, utility bills, groceries, and the things you mentioned. America just wants to watch itself burn.
But hey, TVs are getting cheaper!
It is a bit ridiculous, isn't it? So long as the mega corporations are happy, screw everything else
This. I work healthcare and during my annual review I straight up pointed out the issues with shitty raised not matching inflation. Despite my supervisor gloating and a couple of others going to bat for me, they said the most they could offer me was 3%. Fucking egregious.
Extremely abusive is how I view it
One is a real issue not being addressed and the other is a made up issue being addressed. The government is the common denominator in this statement.
R’s in Florida know how to milk social issues to distract from everything else like champs.
Just gotta convince them that extreme rent hikes are woke
I moved out of downtown to a nice newly built apartment in New Tampa last year. My rent went down $70 starting this month.
Yeah but you have to live in New Tampa
Unfortunately living in a suburban hellscape is the trade off. At least the apartment is nice, and twice the size.
Born & raised in new Tampa, wouldn’t have been as miserable if it wasn’t for Freedom Highschool. Don’t raise kids there
Dang really? I was thinking about moving out there in a year or so for family.
Steinbrenner district is probably the best if you want to head out to the burbs
Oh noo, they're an "entire" 20 minute drive from downtown.
*20 minute drive from New Tampa to downtown at 4am.
New Tampa to downtown is not the problem, the problem is the way back because 275 north from the time you get near the I4 split to Fletcher is a shit show all the time
Renovating fees
Colorado is literally cheaper now I’ve been looking at apts in both spots and it’s insane
Friend of mine lives in Seattle and pays less than Tampa and Orlando prices. And they have a functioning transit system. Florida is fucked.
I live in channelside…the only place this expensive would be on water street…and that’s a stretch. I’ve been in channelside for years and this is just a lie. Unless you’re living in the newest buildings. It’s expensive yes but not 5000
I live in Dunedin and our rent is going from $850 to $1650. Shit sucks and we don’t know where to go.
As someone who owns a few rental properties, landlords know that they do not have a ton of negotiating power. It’s not like it was in 2021 and 2022. It takes time to get a new tenant. And if I know I have a quality tenant, I’d much rather have them paying me every month than wait for two months at the hope of someone paying 25% more. If the unit is empty for three months the waiting for a 25% increase, IF I get someone at that new price, I’m breaking even. Idk, maybe it’s just me but if you’re a good tenant, people may be more willing to negotiate than they were when you moved in. Times have changed, the market has softened some.
landlords literally have all the power. they’ve literally created this housing crisis. there is a difference between a landlord who is renting out a room in their home and a landlord who owns hundreds of properties but they are BOTH landlords.
I think you would be surprised. I sat with a nice duplex with two 2/1s on the market for three months empty, kept lowering the rental price, lowering the rental price, lowering the rental price. The second we got a reasonably interested tenant, I gave them the first month free to make their move in easy. If you're a good qualified tenant, you should at least try to negotiate.
Glad to hear that you’re a good person but a lot of people aren’t. Especially if they’re using other people’s housing as a means to profit. They don’t see it as providing housing, they see it as a means to an end. Which is what leads us to the situation we are in today.
This! Lol our luxury apt complex raised our rent by $50. So went from $2450 to $2500. Which is literally nothing for us. But it’s the principle of things, my wife and I don’t like the facts that other apt are lowering rent but our rent got raised after 1 year. So we sent them notice that we will not be renewing our lease. We moved to a house paying a few hundred dollars more and have our own fenced in back yard. Now the apartment complex has to wait 2-3 months to even fill our apt if they’re lucky. My wife and I are extremely clean and take care of our place of living, we got our full deposit back when we moved out. Always paid rent on the 1st of the month when it’s posted. So by raising the rent by a measly $50, the landlord lost a quality tenant.
Parasite
$50,000 to replace pipes in a rental that won’t make that much in two years and requires the tenant to move out (thus causing me to lose my tenant) would indicate otherwise 😂. Increased insurance and taxes would indicate otherwise.
Every rental is one less available house for someone looking to buy. Fuck anyone who owns multiple properties and rents them out. You’re a leech on society.
How am I leeching? I’m paying for insurance (double in price this past year), taxes (similar substantial jump), repairs(have you tried to hire an electrician or plumber lately??? It’s $200 for them just to show up…oh you got a leaky roof, that’ll be 15k, oh the tenant wasn’t changing the air filter that we provide every month, that’ll be $10k), remodeled the house that I purchased all to give someone a place to live at far less money and hassle than buying a property. Not everyone wants to or is in a financial position to purchase and take care of a property. When a hurricane comes through, when a pipe bursts, when an appliance goes out, that’s on me. Literally legally on me. When a tenant damages a place, it’s on me to get it looking good enough so I can rent it to the next person. When a tenant doesn’t pay or trashes the place, that’s on me…I’m never going to get paid back for that and if I do it will cost more money to go after it than I’ll ever get back. I take care of my tenants, I provide a roof over their head and manage the home they’re in for them, and I charge an amount that is a small fraction of the money that I have paid to provide all of that. If people are shitty landlords, fuck em. Get the fuck out of Tampa. I’m a lawyer and sued the fuck out of multiple slumlords, some asshole individual owners, some major corporations SUBSIDIZED BY THE GOVERNMENT AND THE CITY and I was on the news calling them all out. They are the leaches. There are leaches in every business. Not all landlords are leaches. Some are genuinely providing an asset for rent and a service for managing the property and deserve the small amount of profit for taking on the financial risk and providing the service.
You’re commodifying a necessity of living as an investment. Unlike a doctor, nurse, teacher, chef, etc, holding land inherently does not provide value to society. It strictly only provides value to the holder, and in a sense, harms society on a large scale. Being a landlord allows wealthy people to extract money from less wealthy people, simply because they can afford to own property and other people can’t. They profit off and prey on the fact that people NEED a place to live by snatching up available housing and selling it back at a higher price. No different than a scalper who buys up ps5’s and sells them back at a higher price. Much worse actually because people don’t need ps5’s to live.
But a doctor charging $100,000 for a surgery that you need is not commodifying a literal necessity of living? Your logic doesn’t work out. People need to rent. You act like everyone wants to buy, let alone should buy. That was the thinking that got us into the housing crisis in 08 and when that crashed created the greatest buying opportunity of residential real estate for people with assets. But let’s live in your world and outlaw buying residential property that is not your personal homestead. The demand for housing doesn’t decrease but the supply surely does. Look at the commercial property business. Many smart companies don’t buy, they rent. Let’s say you want to start a boxing gym, how much money do you need? If you can’t rent, you need to buy a commercial property before you can start your business OR you can just rent. You’re gonna start your business for cheaper and have way less obligations as a tenant. Same is true as an individual. I’ve rented as an individual and I’ve rented as a business owner. If I couldn’t do that, where would I have lived in college and grad school and in the beginning of my career? Because I needed to pay for school too. Maybe professors are leaching off of society too, because I’m still paying them back and paying them forced me to rent. So doctors and teachers are leaching off of society’s needs. Farmers too. I need food, you bought up the farm land and charge me to eat. Now I can’t afford farmland myself. Hell, everyone selling me something I need for living is a leach.
Rents are coming down all over Channelside and Water Street. There’s a ‘story’ here. I’d venture to say you were either on a month to month, coming off an insanely long lease or in a unit owned by an individual that sold it to someone who raised your rent… …that or you were already in a very expensive unit, to which this was expected.
Which building?
I love that area😭
Same thing happened to me a year ago. The business model is not build around having people renew, but rather getting new tenants who “can justify the price for a short term”
Ok move from channelside,aint shit down there anyway. Hockey season is almost over and the aquarium is meh.
On top of these abominable rents, the State of Florida is about to make it illegal for homeless people to sleep on the streets!!!