Why Does Rent Go Up? (Infographic)
Why does rent go up, but your apartment stays the same? Same bathroom, same utilities to pay, same everything? This infographic breaks down what your rent actually pays for, so you can see all the variables that can trigger an increase.
You can’t be blamed for wanting more bang for your buck, especially when rent goes up. But the cost of renting is also subject to the cost of living: Taxes, utilities, interest rates, staffing costs…all these issues and more can force a property owner’s hand.
Now granted, a good property owner should be able to keep costs in line. And no property owner wants to raise rent — they want happy renters who will stay with them until the end of time.
But take a look at what’s all involved in your rent, and you’ll get a sense of why rents go up every year, even when everyone wants to keep them down.