Oct 30, 2022

A Man’s Lease Renewal Offer Shows How Ridiculous the Rental Market Is

Rents are high everywhere right now and you better believe that they’re REALLY high in the New York City metro area.

And a man in Jersey City, New Jersey, posted a video to TikTok to talk to viewers about how his landlord wanted to raise his rent from $3,400 per month to roughly $4,600 per month based on 12, 13, 14, and 15-month leases.

Check out what he had to say.

@olliemcateer 💔 #rent #rentalproperty #jerseycity #hoboken #property #lease #fyp #rentincrease ♬ Paradise – Ikson

Take a look at what folks on TikTok had to say about what happened.

This viewer shared their own story about what they had to deal with while renting in Boston.

Screen Shot 2022 10 24 at 4.43.14 PM A Man’s Lease Renewal Offer Shows How Ridiculous the Rental Market Is

Photo Credit: TikTok

And another viewer shared how much the rent went up in their place after they moved out.

Wow!

Screen Shot 2022 10 24 at 4.43.23 PM A Man’s Lease Renewal Offer Shows How Ridiculous the Rental Market Is

Photo Credit: TikTok

Another TikTokker shared how much their rent increased in Florida.

Screen Shot 2022 10 24 at 4.43.32 PM A Man’s Lease Renewal Offer Shows How Ridiculous the Rental Market Is

Photo Credit: TikTok

And this person said their rent was increased by over 100% and that people need to call their representatives to make some noise about this price-gouging.

Screen Shot 2022 10 24 at 4.43.40 PM A Man’s Lease Renewal Offer Shows How Ridiculous the Rental Market Is

Photo Credit: TikTok

The man posted an update video about how he negotiated the price with his landlord and came to a compromise on his new rent moving forward.

@olliemcateer Replying to @Amanda, MPH 💡 no games. Most are pretty human about stuff if you just talk to them. #fyp #rent #rentincrease #negotiation #nj #jerseycity #hoboken #property ♬ original sound – BigDadDogEnergy

It’s tough out there, no doubt about it!

Let’s hope that prices start to come down at some point!

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