Apartment rent increased over 20% in 2.5 years
Posted in the Cypress Forum
#1 Jul 10, 2012
As a Cypress apartment tenant for 2.5 years, I have personally experienced over 20% increase in rent in 2.5 years. First renewal was over 8.4%, and was non-negotiable. The second increase exceeded 11.7%. Both renewals were for maximum length to get the best price.
Also, immediately mandatory,$100,000 renters insurance is required; with apartment being listed as the "Interested Party" or "Certificate Holder", stating that is necessary so they will be notified if you cancel policy. This applies if you choose to use your own insurer and not eRenterPlan. Also if you use your own insurer, a declaration page of coverage is required for each resident in the unit.
I have never paid rent nor the associated bills,(i.e., water, trash, pest control charges) late. I passed rigorous credit and renters background checks to be accepted, upon move in. Paid a $400 deposit. I consider my family, of 3, to be great tenants. I wouldn't have invested my time, money, and efforts into a rental property had I expected the the unusually high rent increases.
Read more: http://www.apartmentratings.com/rate/TX-Cypre...
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