A few months ago, I received an email from a friend, who lives in New Jersey.
Her apartment is a few blocks away from our house and is a short walk from the Atlantic City airport.
Her landlord wanted $600 per month for rent, which was $6,400 per year.
This was her rent, she explained, and it was the same for all of her neighbors.
The problem is that she’s not a renter, and she’s only renting the apartment because her family members have a job, which is why she was getting a discount.
“This apartment is the same price it was before, so I’m not getting a rebate,” she said.
The lease included a $3,000 credit toward the monthly payment, but I thought it was a loophole.
Why was I getting a $6k credit, if I wasn’t getting any rebate?
I sent an email to my landlord, who forwarded it to her.
“I don’t know how it happened,” she wrote.
“We are the same people, and I’m sure you were able to figure this out.”
But it wasn’t easy.
“It is really a big loophole for the landlord to take advantage of,” she added.
The landlord, she said, also has a mortgage, which he’s not paying.
And I told her she should probably get a loan to make it work.
“You’re basically putting my life on the line,” she told me.
“Do you realize you’re hurting me?”
I didn’t know if she was referring to her situation, but the real estate market is still very volatile.
The average price of a house in New York City is up nearly 50% from last year.
The New York Stock Exchange closed last month at $16,934 per square foot, which puts the city’s real estate prices on track to be the highest in the country by 2021.
If you’re renting an apartment in New Hampshire, you can get a free apartment voucher from the Real Estate Council of New Hampshire (REHNH), which is good for 30 days.
If your apartment is within a two-block radius of your home, you’ll need to pay a $25 rental fee per month, but you can rent a smaller apartment for $25 per month.
The rental voucher also provides for a $15 monthly mortgage payment, and the apartment must be a three-bedroom apartment.
“The rental voucher will give you a little bit of financial independence, and that’s something I really appreciate,” said Erin Hough, a real estate agent in New Brunswick.
“But if you’re not willing to commit to a long-term lease, then you really need to find a new home.”
Hough said that she also got an email a few weeks ago from someone who lived in a similar situation.
The apartment she was renting was just as expensive as it was five years ago.
But because she was earning $80,000 a year, the mortgage was $2,400.
“A lot of people have a mortgage and a lot of money to spend,” she explained.
“So, they put all their eggs in one basket.”
Hugh said she was able to negotiate the offer down, which put her savings in the bank.
She now owns two properties, and said she’s willing to move back to her hometown in 2019.
“Hopefully, we can find a good balance and stay here,” she laughed.
“At least now we have our home and we have a better chance to live in our neighborhood.”
For more information on this story, visit the New York Post.