Terra Mar Apartments Raising Rents

Discussion in 'Rentals - Long Term' started by The Window Guy, Jul 31, 2014.

  1. sunspotbaby

    sunspotbaby SoWal Insider

    Joined:
    Mar 31, 2006
    Messages:
    5,014
    Likes Received:
    704
    Location:
    Santa Rosa Beach
    To be fair, we cruised through the complex a bit ago. The interior looks well maintained, but the entrance on W. Hewitt is bad.
     
  2. Jessica McDaniels

    Jessica McDaniels Beach Crab

    Joined:
    Aug 14, 2015
    Messages:
    1
    Likes Received:
    0
    I have been in multifamily property management for years and most recently resigned from a 360 unit complex as Property Manager due to birth of 2nd child. While I'm not affiliated with management company above they do own sister properties within my market survey range. First I would like to clarify there are two separate markets in Panhandle..... Apartments and the shadow market (homes condos). To the woman who posted last year irritated by her daughter's proposed rent increase....this is standard on any market as the objective is to increase the assets revenue each year. While there was a 300-400 increase mentioned by author, this is probably the MONTH TO MONTH rental amount which is typically significantly higher as market rents gain traction during the year and a majority of the time the renewal increase is lower than the market rent offered to new move ins. The shadow market, homes & condo, owners are very guilty of exploiting monthly rents and inflating the market...at least with a global management company, clients/owners know their property will be professionally managed.
     
  3. Solar Steve

    Solar Steve Beach Comber

    Joined:
    Sep 27, 2014
    Messages:
    33
    Likes Received:
    19
    Blah, Blah, Blah.....
    The rent increase and the insistence of renewing in 60 days or your rent go up much higher is not in the original contract signed.
    Strong arm tactics do not work in this town. I know many that are moving out. My daughter leaves in a week and will not renew due to their cockiness/arrogance
    They may get this rent for awhile, but very soon they will price themselves out of the market.
    This is just my opinion and you do not have to agree!

    Oh; by the way, good early morning!!:D
     
    Last edited: Aug 14, 2015

Share This Page