Tower Village residents experience rent changes

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Photo by Patrick Goodman

Some Tower Village Apartment residents have experienced changes to their monthly rent.

Senior English major Megan Graziose said there will be a $275 increase to her monthly rent beginning in January. 

“After communicating some concern with Tower Village, this seems to be normal as they have to raise the prices to meet market rate,” Graziose wrote in an email. “We are actually changing to month to month payments since there are no more 6 month leases available and we will have to pay $1475.00 because of the extra $200 for month to month.”

However, Jana Mobarak, regional supervisor of Centrapartners, said that rent has not been changed.

“Our month to month rates are the same as they have been for the past two years and are consistent across the state,” wrote Mobarak in an email. 

Ownership of Tower Village changed in 2017, when UD sold the complex to SB Pacific for $20 million. Centrapartners became the property management company for Tower Village after it was purchased.

“Our lease rates are dictated by the rental market, owners and their business plan for the community,” Mobarak wrote. “We all wish we could still pay 99 cents a gallon for gas too but unfortunately life is not subject to our wants but as the taxes, insurance and repair costs continue to climb, so does [sic] rates of products all around the country.”

Another UD student and Tower Village resident reported changes to her rent prior to changing leases. In an e-mail, they requested anonymity from The University News to prevent her comments from affecting them “in any way with Tower Village.”

“Before I added onto my roommate’s pre-exisitng lease, the rent was raised $50 per month,” they said. “That is the only raise of rent that I have seen that doesn’t include things like special discounted rates expiring or the like.”

“Month to month leases have to pay $200 + market rate,” wrote Graziose. “I don’t think that Tower Village raising price to meet market value is a major issue. They have given us three notices that the change will be occurring so it is not a surprise to anyone.”

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