http://asburyparksun.com/residents-protest-rent-hikes-at-stephen-manor-vita-gardens/
....Residents received a letter on Sept. 21 saying monthly rents would increase
to $950 per one-bedroom unit; $1250 per two-bedroom unit; $1600 per
three-bedroom unit; and $1900 per four-bedroom unit.
Currently, a two-bedroom unit is $966, one resident said at last night's
council meeting, and a three-bedroom unit is $1,100.
Vitus Group is completing more than $7 million of repairs to the structures....
============================
PS: Twinbrook in ocean township is advertising one bed from $795...
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This is one of the MAJOR problems with State and Fed subsidizing rents - it's
based on MARKET RATES for units in a given area. So what happens - rents TEND
TO GO UP, because the state is paying a major portion of the rent (like 80 to
90%). So most tenant's find a place to live, not really caring if their share
is from $10 to $300 if the going rents are $900 to $1800 - would you really
care?
The ones who suffer are those that ARE NOT on subsidies. And really, if you're
personal income GOES UP , then the gov
t subsidy goes down, more so then the income needed to cover the rent.
Shit, I can go on for ever. I might have more of these thoughts on RentLaw.com
.
And no one ever wants to lose the subsidy either (well some do). Instead, find
a job off the books or work just enough hours on the books...as not to impact
your subsidy....
I had a tenant who took her middletown township voucher (used in ocean
township) and decided after a couple years to move to Florida - voucher in hand.
There are those that truly need help and unfortunately, the system is broken...
just as the whole banking and mortgage programs have been scammed as part of
the "foreclosure" crisis.
There are OPPORTUNITIES to take those subsidies and turn those into home
ownership.
I'm available for bookings...I'll do a one hour show.
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