Feb 3, 2009

Price Gouging at it's finest

As you may recall, this year I am living in university housing for grad students with three other girls. The apartment is alright, very dorm-like, but considering the dump that I lived in during my undergrad, I like this place. The only downside is that the rent is a little steep-- $655 a month. Considering I only get paid around $1,000 each month for my stipend, money has been (and still is) pretty tight.

I was originally planning on living here again next year with one of my current roommates and friends of hers, because they want to stay. But today I got an email explaining that they are raising the price to $700 a month next year!! Let's take a minute to review- that's $700 PER PERSON for a small four bedroom apartment. That’s $2,800 a month they’re raking in!! What annoys me the most is that I could get my own apartment completely for myself somewhere else, for less than what they are asking. I mean, $655 a month is already expensive, but it was convenient to move in here when I didn't know anyone or anything in the town. But there's no way I can afford more than that. Looks like I'm going to be apartment hunting in the next few weeks...

3 comments:

Canadian Saver said...

$2,800... WOW! That's a lot !! Good luck finding something else!

Every Penny Goes Somewhere said...

when i was in grad school last year they did the same thing to me- increasing it by $70. they do it to get you to renew your lease faster - or to find out who will be renewing their lease in advance. when i didn't renew, they kept sending me letters dropping the price until the "new" rent was BELOW what i was currently paying. it's really pathetic... there has to be laws against this!

Ginger said...

Ouch! That's quite the jump!

It might actually be worth it to find a new place to live, either on your own or with your roommates.

I'm paying the same rent as you but make more money and even I am having a hard time budgeting properly, I can't imagine what you're going through!

Hope you find a good alternative...