LAS VEGAS (KLAS) – Rising rents are a constant problem in the valley. Yesterday, 8 News Now shared a new report that shows a 45% increase over last year.
As prices rise, many viewers have now reached out to 8news to find out about the challenges they face in staying afloat.
We have received emails and calls from viewers regarding rent increases, even up to hundreds of dollars.
A resident told 8 News Now that her rent hike of almost $ 200 had forced her to need a job after she retired.
Marianne Cook, a resident of Centennial Hills, says she has lived in her apartment complex since 2018. She is 67, retired and on a fixed income from Social Security.
Recently, she was told her rent was increasing by $ 181 per month for a two-bedroom, one-bathroom apartment.
When she tried to negotiate, she says management told her:
“I pay my rent on time and have never been late. How about a break? Look at others who couldn’t pay their rent and were evicted.
She says part of the problem is that so many people are unable to afford their rent, leaving others with the burden of paying higher rent.
Cook says prices are high in his neighborhood and moving to another part of the valley would come at an additional cost on top of down payments and moving costs.
His solution was to find a part-time job to avoid more problems.
Cook’s new rent increase will take effect in November, but she is worried about how long she will be able to continue working.
If you’re looking to relocate, we’ve got some advice from a local real estate agent in the video above.