Why do apartment management up the rent every year?

Question

Why do apartment management up the rent every year?

Answer 1

Inflation

Answer 2

I think it has to do with the staggering inflation of causing everything goes up. According to the basic economic principles of supply and demand, the rent prices are going up in big cities and in contrary quite a few probably goes down in suburban living areas. The major reasons for popping up the rent is the greed of the apartment owners affiliated with the management to make more money as the economic basic of monetary growth for the demands of this materialistic society. It needs a good government to control the rent by amending rent control policy to keep the rent hike drastically. The rent for small business owners in some busy streets in Hong Kong are screaming foul and wrapped up their restaurants for the rents increased by a triple fold in one year period. Hong Kong is number five most expensive city to live in this world. The fascist government is conspired with real estate developers to raise the rents to an unaffordable level for business and living in families and single renters.

Answer 3

because they can and that's the way they make money.

Answer 4

Because their expenses go up.

Answer 5

Because they can (and still get the place rented out to someone).  If the rent is to high compared to other places in the area then move - if not pay the extra.

Answer 6

to cover increasing water rates, land rates, etc.

They may own the building, but they still have to pay too. They just pass on the cost.

Cest la vie!