As hundreds of Lakewood families struggle under the crushing weight of ever-rising prices, a letter hung in BMG is urging Lakewood’s landlords to abstain from further raising rents on their tenants.
“Apartment rents have inflated well beyond 50% of their previous value,” the letter reads. “Rent, a basic essential, is a large chunk of a young couple’s budget and has become a monthly source of stress for many newly married couples.”
The letter goes on to remind/educate landlords about several facts to bear in mind:
- The rent you charge doesn’t only affect your tenant. Other landlords base their rents on others’, and raising your own tenant’s rent has an impact on the entire market.
- Being mevater on the little bit of extra rent you could technically squeeze out of your tenants is a tremendous chesed and is a proclamation of your emunah in Hashem and belief in His ability to provide you with the income you need.
- Many of the families currently living in apartments have mothers who would love to be teachers. However, with rents being so high, a teacher’s salary simply doesn’t cover the family expenses. This is a factor in the extreme shortage of teachers in Lakewood schools. Many women are turning to other careers because a teaching position simply doesn’t pay the bills.