YieldStar by RealPage https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent

The property tax increases this year were unprecedented and contributed a lot to what you are seeing. Yes, there will always be landlords looking to bring their units in-line or just under the market rate for the brand new units in the city. But a lot of families that have owned for a long time (since the 90’s), who had their properties reevaluated in 2019 (probably had their taxes tripled then), and then got hit with the 30% increase in October are forced to either sell or increase rent to continue living here.

Mine went up 27%

All the landlords in jersey city use the same AI tool to “price optimize”. It’s basically removing all competition in the market. Everyone I know, including myself, who even a year ago could easily afford rent is now being forced to look elsewhere

At least this is a lesson learned. Had you gone with your insurance you would had just paid the deductible and let the insurance deal with it.

We just moved out of VYV and just the tests for the pile driving were insane. Not to mention in the midst of it the building raised rents $500 across the board

You can use tap to pay and not have to deal with the metrocards

Metrocard wont even be an option for either transit system soon, anyway

What about April?

They literally are looking to increase ours the same, and they also price fix the area so they can set the market rate.

Write the councilman. Others are also complaining. Strength in numbers -

James Solomon Jsolomon@jcnj.org

I work in commercial real estate. This is not true. Debt service coverage ratios on major commercial real estate never let a borrower pay 100% of the NOI in interest.

That was kinda on me and my brother to not to do the insurance (yes we have full coverage in case if you're asking) but my dad contacted the lawyer and he says its best to pay them whatever his mechanic is gonna say and just go with it. I know it's too much but this guy and us we both go to different colleges I go to Montclair (so does my brother) he goes to NJCU.

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in your own example, if rent = mortgage + tax + maintenance and tax increases by 32% to balance the equation the rent side does not need to go up by 32%

how much the rent side needs to go up depends on the size of the tax component vs the mortgage + maintenance, which is again not directly related to each other. however you can make some directional guesses, in any case leading you to the conclusion that 25% increase in rent likely more than covers 32% increase in taxes.

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That’s why my family and I are moving down to Bergen Lafayette.

Yeah, I will try that next time I’m in NYC.

I have one. I was using the MetroCard for the subway in NYC.

Any reason (besides my prem may go up) you don't want to use insurance? Even if your at fault, your premium may not go up as much. It will be the easier route and you won't have to deal with this BS

Wait, I thought in total there are supposed to be 12 towers so 10 more to go, 9 after this one is done. Did the plans change?

i just need to point out the obvious that while taxes increased 32% that number is not directly comparable to your 25% rent increase....

said simply, it is highly unlikely that a rent increase of 25% will not cover a tax increase of 32%. however i'm sure the property tax issue is indeed one of the major contributors to the rent increase

to OP: unfortunately there are only 2 options -- negotiate (and win), or move out, a lot of folks are stuck in the same situation because the increases have been so high

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I think you forgot air quotes there around progress, but who knows anymore.

Consider following https://twitter.com/RentControlJC on Twitter who are trying to fight the corruption in this city regarding rent control.

https://patch.com/new-jersey/hoboken/luxury-waterfront-tower-now-falls-under-rent-control-jersey-city-says

https://hudsoncountyview.com/jersey-city-council-hears-more-complaints-about-rent-control-and-right-to-counsel/

https://www.gofundme.com/f/portside-towers-legal-fight-for-rent-control

And it comes out cheaper if you use path a lot.

Then perhaps you would have gotten more useful responses by asking about the T-Mobile network, rather than a specific reseller providing a fraction of the T-Mobile total customer base.