As you receive your 2023/2024 lease renewals, you will notice the annual University Apartments rental rates increase. Rental rates in Eagle Heights and University Houses were increased by 2% and Harvey Street apartments were increased by 4%.
Most of the costs of running the community are set rates (not in the university’s control): heat and electricity; boilers; roofs; 80 and 84 bus lines and more. While those expenses have increased, we are pleased to say the increase in apartment rents have been held at a steady 3% average. This was a goal we established seven years ago, to keep our community as affordable as we can in growing and changing times.
We consider our rates and expenses very carefully to offer an affordable, welcoming community and be good stewards of residents’ money. Without these annual increases, which average about $30 per month for a household, we would not be able to meet our commitments for wages, maintenance, capital projects, and campus services, all of which benefit our residents and the University Apartments community.