Renters in Tennessee are experiencing dramatic rent increases when it comes time to renew their apartment leases. As a result, finding affordable housing has become increasingly difficult for many middle-class renters already working multiple jobs to make ends meet.
Historically, Tennessee renters could expect a modest but reasonable increase of $20 to $50 per month when it came time to renew their apartment lease.
However, this year many renters, like Tom Buckner, were shocked when they received notice from their landlord that rent would be going up by several hundred dollars a month.
Buckner has been renting an apartment at Forest Ridge Apartments in Knoxville for $1200.
At 67 years old, Buckner says he enjoys his apartment complex's amenities and low-maintenance living. However, even though Buckner is semi-retired, he still works multiple jobs to make ends meet.
Recently, Buckner received a letter from his landlord as his current lease was ending. He assumed that rent would be going up by $30 or $40 a month. Instead, he was shocked to discover that his rent would increase by more than $300 per month.
At first, Buckner thought there was a typo in the letter, so he called the apartment's management office to ask if there was a mistake. He was informed that the rent increase was correct.
Allegedly, the management office told Buckner that they had to raise rents because they were "seeing an increase in the cost of everything."
However, even though Buckner thinks the $300 increase in rent is egregious, he has decided to stay in his apartment because there aren't many alternative options for affordable housing in the area.
Have you had a difficult time finding affordable housing in Tennessee?
Share your experiences in the comments.