$300 rent increase shocks Knoxville man as rates rise across the US

I own a few properties in Iowa and one in Pensacola FL. Never raised rent on a tenant or charged for application fees or late fees. Always gave the full deposit back. I try to not stress people financially especially if they are college students or have kids. In return the leave my property in better shape than I gave it to them. I could have made a few thousands more squeezing every penny out of them, but the sense of reward I get by treating them like humans is priceless to me.

Everything went up except Salary.

This is happening across the USA. It's heartbreaking to see how many hardworking, intelligent, good souls that are heading to homelessness.

The nerve of people blaming this old man. My prayers are with you sir.

Somethings gotta break eventually. A system like this cannot sustain itself for long.

My rent is going up by $600, and I am 75 and living on Social Security. Like this gentleman, I am being forced to try to find a job in order to face what is coming; and finding a job is proving to be a challenge.

God help our elders! This is so sad to see!

High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

This is so sad how can people eat or pay any other bills ...greed is tearing this country down fast !

I appreciate the news story, but it's very irritating when news anchors are smiling (like they are delivery happy news!) when they are reporting this. People are stressed out and hurting everywhere and being gouged into poverty. Reporting this story should not be delivered with a smile on your face. Just annoying.

This is exactly why I'm moving into my mom's basement, due to high rent, I'd rather help my mom pay off her mortgage by giving her the extra money than making someone else rich

Greed is rampant...yearly rent cap is needed

My son got the same letter from his apartment complex, but it was a $600 increase

This is outrageous! They are trapping people. This is sad because most elders are on a fixed income.

Same here in NC 😡 Rent doubled. Heading South but I really feel for the seniors 🙏🏿🇺🇲

…I inherited a duplex from my parents and the neighborhood has gotten a bit edgy. Because of that, my eldest sister tried to get me sell the house and to move to an apartment out by her in the suburbs. Trouble is, my co-workers after they retired did something like that and now they are in the same situation as the people mentioned in the news clip. Rising rents and low income. I have a paid off house and rent coming from upstairs, why would I dump everything to move to a much smaller place full of restrictions just to keep her happy? I have a garden, pets, hobbies and can do what I want when I want. If I move into an apartment, all of that is gone…

This is just freaking ridiculous!

My sons rent here in Knox Co went up 300.00 at his North Knox co apt as well. It's awful.

Property tax on rental and apartment properties goes up multiple percent per year. As high as 25% a year. Something nobody seems to want to talk about. Rental apartments use a formula for their rents where 96% occupancy is the goal, along with staggered lease expirations. At 94% occupancy or below is considered bad, and rents have to be lowered. So an apartment complex can only raise rents if someone's willing to pay that, it's a balance because they're also legally bound to certain promises made to investors who fronted the money buy the apartment complex. My apartment building, owned by a large investment company, saw occupancy drop below 90% occupancy recently and while monthly rent didn't decrease, they gave new renters a 1 month free, then two months free and I think a free $500 debit card. That deal lasted until occupancy hit 94%

Doesn't matter where you live regardless of the state it's going up all over people are being taken advantage of there's no reason for this