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The Secrets of Rent Increase: What Apartment Owners Don't Tell You!

Cheat sheet for shoppers / World behind the curtain / Newcomer in the real estate market
15.01.2024
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The Secrets of Rent Increase: What Apartment Owners Don't Tell You!

Have you ever wondered why sometimes the rent for an apartment suddenly increases? Let's figure it out together.

Firstly, the condition of the apartment can significantly affect its cost. Recently renovated, modern apartments with new amenities logically can cost more than old, worn-out apartments.

Secondly, location plays a huge role. If a neighborhood becomes popular due to new trendy places, transportation links, or proximity to schools, apartment owners can raise the rent to match the demand.

Thirdly, the overall economic situation can influence rental prices. If inflation is rising or the cost of property management is increasing, owners may pass on these expenses to tenants.

Finally, sometimes it's just market dynamics! If similar apartments have raised their prices, your apartment owner may follow suit.

But remember, just because the price has increased, it doesn't mean you don't have options! It's important to negotiate. Express your concerns to the apartment owner and try to reach a fair agreement.

This message is particularly useful for property owners as well as those looking for an apartment in Tallinn.

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