BOYNTON BEACH, Fla. — A tight housing market and steep rent hikes are prompting neighbors inside a Boynton Beach rental community to take action.
Several residents who live at the Sealofts at Boynton Village apartment complex are now banding together to keep from getting priced out of their homes.
"In order for us to renew, we're gonna have to pay an extra $1,500 a month," said resident Nick Christensen.
The large increases prompted residents to host a Tuesday night meeting to fight the pricey proposal.
"It's about $18,000 a year that they're expecting us to come up with that," Christensen said. "It's been challenging just to keep up with [the cost of] gas and food."
Christensen and Eric Hisle are leading the call to action.
"We're willing to fight and push back," Hisle said.
They haven’t reached out to the property owners yet but say their concerns resonate through the community.
"It's our fight. It's the neighbors' fight," Christensen said. "I think if we stand united ... I think we have a good shot at getting to the negotiating table and discussing this with corporate."
Real estate attorneys say corporate-owned rental complexes are unlikely to budge on the price.
"It's tough in situations, especially large, corporately-owned apartment complexes where it's just an asset," said Adam Seligman, an equity partner at Ward Damon Law in West Palm Beach. "They have vacancies. They have tenants to fill it. There's really no questions asked."
Christensen and Hisle said Tuesday's community conversation is their first step toward curbing the rental hike.
"Our main objective is to get this corporation to come to us and renegotiate a fair rent, that's it," Hisle said. "We love it here. We don't want to break up our community."
WPTV reached out to Sealofts at Boynton Village for comment but has not heard back.