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Contributor ⭐⭐
February 11, 2019

Struggling with Escalating Rent

  • February 11, 2019
  • 46 replies
  • 39069 views

From what I have read, ever since the housing bubble burst, more people are renting instead of buying homes, causing rents to soar.  Investing in apartment buildings has become profitable, and the companies managing them are more interested in generating profits for their investors than they are in the welfare of their tenants.  However, the knowledge that I am in a crowded, leaking boat does not help me prevent it from sinking.

 

When I moved into my one bedroom apartment fifteen years ago, I could afford it.  Now, I manage to pay my rent from the income I derive from Social Security and my part time job.  Each year, the rent increases get larger and more monthly fees for services I neither need nor use are added.  As a result, I've turned frugality into a near art form, trimming all the fat I can from my budget, but I recoil at cutting into its muscle and bone.  What awaits me when my lease expires in February 2020 deeply concerns me.

 

My previous attempts at navigating the more affordable housing maze have resulted in dead ends.  Thanks to the cosmetic renovation craze, apartments offering far less than mine are now priced not that much less or even more than the one I currently lease.  What family I have prefers the cold of the north, while I enjoy calling Jacksonville, Florida home.  HUD and income-based senior housing have waiting lists one to two years long.  Plus, they require you to move in as soon as a unit becomes available, which would cost me two month's rent to break my lease. 

 

I visit Craigslist and other roommate websites.  Nearly everyone there wants a room, has a room to rent, or is looking to share with someone as young as they are.  I may be a minimalist, but I do own furniture and enough kitchen paraphernalia to cook for myself. 

 

The hope I retain is that I can find another person in a similar situation who has reached the same conclusion I have - that splitting the expenses of renting a decent two bedroom two bath apartment is preferable to huddling in a crummy efficiency where it is dangerous to be out after dark.

 

I thought this community would be a suitable place to nudge serendipity in that direction.  This post is the result of my contacting AARP about forming a Roommate Registry for solvent adults seeking responsible housing partners. 

 

If you would like to advise, commiserate, or better still, provide a viable solution, your response would be welcome and appreciated. 

 

 

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    46 replies

    Contributor ⭐
    April 30, 2024

    Hello, Guys, @BeeRambles, (prntpostiv@yahoo.com) here:

    I believe in your blog/post, I believe from the posts I'm reading that we as seniors, would have never thought after working most of our lives and waited to retire to this!  Worrying about the next place to live, or how to afford the upkeep of the place you already have! How to keep what you have!  You plan, and it seems that inflation, keeps beating you up!  I retired thinking I was ok; not rich, but in (I thought) pretty good shape!  Not!  things started to happen, investments(with silent clauses) started to taken over, what little funds I had accumulated, and also, I went from childhood home to rent increase!  Sure I have land, but now that most of my funds have covered the Rent world, and high Utility costs, it leaves you no time/yet more to ponder what to do?   I have a booklet, I ordered through a working associate, back in 1980's (sounds very old, right!), titled "FREE CASH" from the Government; It has soooo many clauses and legal jargon in it that only once I used it in 1988/1989 for my Parents, when they were alive.  To get assistance with our family home! Seniors in their 60's for the State of North Carolina, in the rural areas, were only eligible for $7500 grant to repair their home, which they have to approve the contractors, so forth everything going into getting this money!

    I was excited and my parents too at the time!  However, I'm still seeking shelter! (right), that I can afford without some one taxing my credit too death until my credit score's back to where I started!

     

    Just like soo many of you, I just want a nice place to live comfortable, peaceful!  Not be gouged by utilities, rent hikes and rising medical bills and meds!  I thought about the Senior Communities for Senior living; some want your income (like I don't know how to manage paying bills!), Many are located in other areas, not near me! I'm very disappointed, that we Seniors are in this situation! But maybe we can find a Solution!  I'm sorry I have no Solution to offer!  My sister and myself are daily looking to move but have had no success in finding a new rental!  Most of the realtors state NO ROOMATES!  I Hope, and Pray a solution comes from posting this!  Thank you for doing and Sharing!  (prntpostiv@yahoo.com)