Tenants are under the impression that apartment building owners are in the business of providing housing for tenants
Sorry. They aren’t.
Landlords are in the investment business – buying apartment buildings to provide a Return-on-Investment (R.O.I) to an investment fund that owns the building.
The best way to increase the investment value of an Apartment portfolio is to boost the profitability of it.
This can be done in only 2 ways:
Implementing an increase to the rent price, $↑
Decreasing the operating expenses. One notable way is by firing employees ↓ who keep the building clean and safe (let an “app” or text line handle the complaints and batch the repairs on a cost-effective schedule). For example:
I am new here into the community… I am a single mom of 3 kids. However I’ve been receiving text messages coming from the Bradlee staff accusing me about reported complaints that don’t make any sense! Loud music!! Interruptive noises?? Disturbing neighbors!!; how crazy could I be to jeopardize my residency after 2wks of living here!? Never had any social event, no gathering, no parties Nothing!! My daughter watched a little tv last wk and after the complaint my daughter stopped!! I did everything i can to make peace!! Today i received another text about the same reason! From 04/17 @10:30pm With a final warning without investigating nothing?? My lease will be terminated!! After the 3rd!! I was not home! I have proof where i was. I feel there has to be misunderstanding. I feel like someone is out to get me. I don’t believe this fare! This is not right!! I just moved here and I feel extremely uncomfortable. It’s not right for me to be warned This way without me doing anything nor without proof!
Both of the financial strategies to increase the value of a rental complex negatively impact the tenants.
More rental income for less cost. Good for Landlord. Not so good for the Tenant.
If you think a landlord’s primary purpose is providing clean and safe housing – it’s time to reboot your thought process.
Perhaps you know a tenant renter whose apartment building has been sold?
The new landlord stereotypically comes in and increases rent on the first day they are allowed to.
Rent increases on Day 1 OR amenities that require a person’s time are stripped out.
- Automation replaces the onsite manager.
- Apps replace a receptionist.
- The camera’s in lieu of security.
But if you know their business model you really can’t blame them.
One apartment community in Danvers has been “flipped” four times now.
Each time the investor applies a tighter “wring of the towel” to extract more drips of rent:
You will be nickel and dimed, constantly have notices of random people coming in and when you’re lease comes up god help you because it’s going to be a raise and then go stay at a hotel until renovations happen. But guess what? They’ll list your place to others in 24 hours if you don’t have an immediate plan to leave or stay…
A tenant in the best-rated luxury apartment community in Danvers writes this recently:
This is a very unsafe place to live. Specially for women. Please, I’m urging you. Do NOT move here. Anyone can literally live and park here without being a lease tenant. The scariest part is that management won’t do anything about it. There have been 3 different managers in less than 3 years. You can hear your neighbors even using the bathroom. There are far better and safer places you could move to. Please stay away!!!!! no stars given I wish I could give a minus even that would be too good!
But you gotta live somewhere, right?
I’m not saying housing horror stories can’t happen if you own your own home (or condo), but generally, there is more due diligence that you can perform to try to avoid these outrageous mishaps.
We’ve built an enduring company and several careers around assisting Tenants across the great divide into home ownership:
We had an incredible experience with Matt Teeter at GoldCoast Mortgage Service, Inc. As a first time home buyer navigating the crazy market during the summer of last year, he was an excellent resource to us, going above and beyond to share his valuable insight. He is transparent, accessible, and all around a very nice guy!
Side note: I do believe he is the reason why we got the home that we did during such a competitive time, due to his accessibility and availability on a Sunday evening — when the seller was reaching out to buyers’ banks for references, Matt was one of the few who answered their phones (as several big banks are closed during this time)
Highly, highly recommend going with this group. Everybody we interacted on this team was so nice and accommodating; not to mention, watching them collaborate with my attorney and realtor as we progressed towards closing day was incredible – seamless work! Definitely a well-oiled machine.
Response from the owner a year ago
Dear Alyssa, There is no greater compliment than to be selected as a “guide” for one of life’s bigger projects. Thank you for selecting to engage with Matthew and our Team at GoldCoast. Reading this review both humbles and motivates us. We concur that a better buying process equates into a better homeownership experience for the future! Very gratefully yours, Team GoldCoast.
We’re not saying that Home Ownership is a good fit for everyone, that would be naive.
There are plenty of perfect reasons to stay renting as a Tenant: https://goldcoastmortgage.com/benefits-of-renting/
Yet if you are curious about seeking your Real Estate foothold – we have a defined path to help you consider the pros and cons between renting and owning. The first step is obtaining your Home Ownership Aptitude Score. The Score is free and unique to you. We don’t follow up unless you specifically ask us to. And we don’t remarket this or any of our sites.
Our professional licenses to do what we do is among the 60th oldest licenses in the Nation.
Sure we get paid for this service we thrive in. But not more than anyone else.
What we DO provide is a hidden layer of service not found by any other mortgage provider.
First up, it’s the niche we carved out. We know that a headset-wearing Loan Officer at Rocket Mortgage can’t even play in our arena of service level – and a 9 to 5 bank employee can’t comprehend our agility. If we didn’t enjoy it, it wouldn’t work. But we’re people persons 1st and not drooling over the commission to close your mortgage.
We take good notes, listen and observe. We get to share these micro-level observations for your benefit. To keep you safe. So you don’t fall into an open manhole cover (figurately speaking).
Access your free customized Home Ownership Aptitude Score here and see where your journey leads you to.
Here’s a sampling of what the Tenants of several Boston luxury apartment communities are saying right now.
Boston Luxury Apartments Bradlee / Halstead / UDR in Danvers:
Please Read this Review before Moving yourself and your family to the Bradlee Apartments.
I have been a tenant here at Bradlee for almost 2 years. My problems here at Bradlee started upon moving into my unit. Unit was never cleaned prior to moving in, my water was brown for about a week after moving in. There was a huge puddle of water left behind my washing machine in laundry room for god knows how long which resulted in black mold spores 2 feet up my wall in laundry room. When i brought it to the managers attention i had asked if they would cut the rotted drywall out and replace it with new drywall. All the did was repaint over the mold, after assuring me the damaged drywall would be replaced. THAT WAS MY FIRST WEEK HERE.
Management is a nightmare, they do not care about the well being of any of the residents they work for. They are extremely rude, confrontational, and threatening. The entire Complex […. ] I have been in contact with the AG and will be pursuing them legally.
Bradlee Danvers also claims they are a “Pet Friendly” Complex, but threaten you with eviction notices and notices to quit for alleged dog barking. Not only that but the grounds here are disgusting, there are dog feces everywhere. The dog park is littered with dog feces on a daily basis as well. Bradlee Danvers also has a very serious rodent problem that they again do absolutely nothing to mitigate. They claim that their units are “high end” but all their appliances are from 2007. Everything, the washing machine and dryer, the stainless refrigerator, the stainless stove, the stainless dishwasher all over 15 years old. This place is extremely expensive to live $2700 for a one bed one bathroom unit, and everything in your unit is outdated and disgusting. They also force you to pay for residential parking, sewer, and water, on-top of your already over priced rent. PLEASE DO YOURSELF A FAVOR, LEARN FROM MY MISTAKE AND FIND ANOTHER PLACE TO LIVE. “A wise man learns from his mistakes. An even wiser man learns from mistakes of others”
Danvers Bradlee- Kirkbride Drive
When we first moved, we were told the apartment had a new renovation with detailed description. The unit was rented and we couldn’t see it before moving in. Once we moved in, it’s completely false advertising, carpet was disgusting, old and smelly. Nothing was “white on white quartz” bathrooms sink is rusted and very old. I’m just extremely disappointed! Plus the rent was almost 3k!
Danvers Folly Hill Meadows (Rt 128)
Place is a dump. Almost 70 years old and lots of problems
The place is over price 😡 they trying compete with other places that have stainless steel appliances.. granite countertops and state of the art gym ,the other place has a bathing station for your dog ..so we decided to go to a new place that alot nicer..
Heat and hot water included at other places..folly is a dump
Beverly Halstead (Windsor Courts)
The worst management I’ve ever dealt with bar none. They give lip service to every single issue you bring to their attention. Worst maintenance team ever it was so much better before the current management, Winn properties took over. Yet you see the management only walk the perimeter when the late bills are due. Don’t move here
Don’t move here, it’s an overpriced circus. I wouldn’t recommend this place to my worst enemy. New management completely ruined this place. Rents going up $400+ upon lease renewals. They claim it’s “market rent” when it’s actually hundreds above market. They’re slapping paint on rotted wood to make the exteriors look better meanwhile the inside that they claim are “luxury” are anything but. They use cheap paint, cheap appliances and the walls are paper thin. You can hear your neighbor having an entire conversation if you don’t constantly have a TV going. We also have neighbors that smoke inside so we get to pay over 2k a month for our unit to constantly smell like smoke. The grounds are a mess, trash is always overflowing, rats and rat traps all over the place, broken glass and trash, dog poop. The list goes on. Just stay far away.
Absolute trash place . The worst apartment I’ve lived in hands down . Let’s talk about the customer service later but, why in the world is there water leaking through the walls? And why are the walls so thin? No privacy whatsoever. Plus guest aren’t allowed in the pool area? Imagine your friends come to hang out with you but you guys can’t even go to the pool cause THEYRE NOT ALLOWED . I don’t think it can get any worse than this . Do not waste your money!
Honestly the worst apartment complex I have been to, never in my life have i been treated so poorly. one the rules are horrible when it comes to having guests over and especially by the pool. The workers are so not understanding and honestly helpless, theres the neighbors constantly banging and horrible music in the building 24/7 and no one can seem to help with that. The walls are paper thin you can literally hear everything from music to very private things in others homes. with all honestly 1/10 do better.
If I could give a 0 I would. No words can describe this place. Trash, Rude Service, wall so thin you can hear the neighbors next door doing everything. Water leak, no deposit back, 5000 to break lease. Roaches, Bugs. If you go live here willingly you just slow in the head.
Peabody Essex 1 Avalon Dr
So incredibly disappointed with my experience at Essex Apartments. Application was difficult to link to my husbands, nobody would return our calls/emails. We were finally approved and told we were “locked in” with a certain apartment and then we arrived and they were putting us in a different unit. Property manager was incredibly rude and unprofessional with the whole situation.
## BE CAREFUL. ##
Do not choose Essex Apartments to live in. Pool always dirty ( when it’s opened ) Gym with equipments broken for months. No bbq área as they say. Office always closed And a lot of other things. Believe me… just don’t. You will regret
Peabody UDR 14 North (1000 Crane Brook Way)
You honestly can’t pick a worse place to live. Absolutely disaster, they don’t care about their tenants at all. All of those wonderful “amenities” never work, gym equipment never works, hot tub hasn’t worked in 2 years, if you move into the main building expect to have issues with every system installed.
If you’re looking for somewhere to stay in the Peabody area do not move into this complex. Worst staff and customer service i’ve ever experienced in my life. Took over 6 months to fix a broken dishwasher and they continue to lose any packages I have delivered.
Lynn, Ironwood Apartments (215 Fairmount Ave)
Save your self the headache and don’t not lease an apartment here. Management is incompetent and the building is managed horribly. During my first month here my hot water and heat stopped working. My fridge was broken and it took over 6 months for them to replace it. Management then replaced it with a smaller fridge than I had before. The parking garage is also not managed properly, I always have someone parking in my space. The sound installation between apartments is horrible, you can hear everything. The elevator is always broken and the building smells like smoke. Hallways and elevators are always dirty. The grills on the rooftop are always dirty and they have a bird nest under the grill. Other residents have warned me that packages get stolen all the time. I wouldn’t recommend living here and communication with management is horrible.
We have been living here for 1.5 years paying timely and in full. At time of moving out we faced with arrogant attitude from the management. It’s a long story with paperwork, legal terms, notification letters that turned out to not be notifications at all and all that sort of attitude of haughty corporation to tenants they make money on and ultimately take advantage of. One of few company I do not recommend to deal with. UPDATE: I called their corporate office for 3 days in a row, left voicemails and my contacts to the representative to pass it to the right person who can call me back. No one from the corporate office got back to me on this issue. The polite reply below is nothing more than just a formal reply for google viewers.
This place was not worth the money. When I moved in there were multiple things that were not fixed and that they were broken. It has an old rusty smell. I will never recommend this place to anyone and I will be sure not to move back. The property manager is defiantly not nice and is very mean. Do not move to lynnfield commons it is trash.
Woburn Avalon (rear Mishawum Road @ Commerce Way
Oh WOW!!! Another cheaply built “plywood-firetrap” they call “luxury apartments!” It sure would be a shame if the place would catch on fire… Then we can call this whole thing “Wood-burn” village. (I don’t even think there is any sprinklers in ANY of the complex.) RIP the former Woburn Mall that once stood on this site. You will be missed, and I’m pretty sure all these five-star reviews are done by bots.
Unbelievably cheap cabinets. Also poor design in both the kitchen and bathroom cabinets with very limited drawer space. Many of the cabinet drawers do not close all the way. We rented our unit before someone moved above us and we can hear EVERY step they take. We can even hear them going to the bathroom..ugh. Fortunately we are short term, planning to stay for only the first year as we build our new house. Otherwise, we would be looking elsewhere. Also the utility cost is unbelievable. Our utility cost is more for a 1100 apartment than our 5000 square foot home that we sold. How can that possibly be? Also, did not receive a utility bill for a month and received two at the same time, absolutely NO READINGS. Then a $15 service fee for each bill.
Not a great experience so far. If you are moving in now (Aug), this place is under construction and they expect you to pay 150$ to book the place, 350$ remaining deposit, and sign the lease within 5 days, all without showing the actual apartment. Not even ready to schedule a future time for an in-person tour or to even tour the model unit. The only thing you will get is a really nice presentation over a zoom call.
Woburn UDR Inwood West – (1 Inwood Drive)
Probably the worst experience I have ever had leasing an apartment – do not lease here. The same exact water pipe burst twice within 6 months in my unit, flooding my bedroom. Talking with other residents it seems this happens very frequently. The first time this happened it took 2 weeks for them to make the unit livable, which they said was “quick”. Interestingly, the second time the pipe burst I moved to a new unit within a day of the flood. They had the damaged apartment fixed up and already rented before the weekend. They wouldn’t let me break my lease and get out of this prison-complex but they did waive the transfer fee and acted like it was a huge favor. Other than pipes bursting in your bedroom ceiling, there’s not much else to enjoy here. Maintenance is slow, trash building is always overflowing, the “clubhouse” is basically just a small gym that is never cleaned. The lock on one of my buildings entrances doesn’t work and it’s been 4 months since the office said it would be fixed. Office staff isn’t competent to actually help you with any issues, you need to chase them to actually get them to do anything.
We have been here for over a year now and seeing this trash shows me this place is something to behold. The hygiene here is impeccable. The smells, the sights, the sounds. If you choose a place like this just know that your trash will not be handled nor will it smell good. A couple things to think about when you are spending over $2K a month to rent. Hopefully this will change but the doubt is always on going.
Absolutely disgusting living conditions. As you can see from the pictures attached the property has very subpar sanitary conditions. Do not stay in those apartments even if they are free!
Apartment flooded TWICE in one year.. same room, same everything. Their emergency crew were last to show.
Beverly Station 101 (101 Rantoul St)
Apartments are small for the cost, ontop of that they charge 25$ monthly for an outdoor parking spot and 100$ monthly to park in the garage, Peabody Property’s the buisness that ownes station 101 are very greedy. I passed on the apartment
Only 2 months here and the elevators are broken, had to walk down 4 flights .There’s a strong smell of cigarettes that come threw the vents and there’s always pet urine on the floor or in the elevator really gross . if you want a hot shower in the morning you need to get up a half an hour early and let the water run till you get some . And if you need to talk to the building office manager she’s really rude never looks at you when speaking.time to look for a new place
Chemical exposure, mold infested, moved on. Building should have been condemned yrs ago.