How and when are rent increases decided?
All rents collected at HRG buildings go toward meeting the operating expenses, maintenance and long-term debt of that specific building. In many instances, rent rates are regulated by city or state loans HRG has received to acquire and build (or rebuild) the apartment building. These agreements keep our rents below normal market levels. Each year HRG staff members project expenses for the upcoming year. Then we determine the amount of the rent increase necessary to adequately care for the buildings current and long-term needs.
All rents collected on AHEAD owned properties go to meet the operating expenses, maintenance and long-term debt of that specific building. In many instances, rent rates are regulated by city or state loans AHEAD has received to acquire and build (or rebuild) the apartment building. These agreements keep our rents below normal market levels. Each year AHEAD and the management companies project expenses for the upcoming year. Then we determine the amount of the rent increase necessary to adequately care for the building’s current and long-term needs.
