By Jason Kaplan
Senior citizens living in the Idlewild Creek Apartments have reason to rejoice this week. On Tuesday, Senator James Skoufis reached a deal with Sage Apartment Communities to cap an increase in rent.
When Skoufis hosted a forum on new rent laws, back in October, some Idlewild residents approached him about the rent increases they were hit with when it came time to sign a new annual lease.
The previous property owner received a federal tax credit which was tied to affordable rentals. This in turn put restrictions on rent increases. When Sage took over, however, the company opted to forego the tax credit.
In response, Skoufis brokered a meeting between residents, Sage representatives, and himself, but unfortunately the Jan. 15 meeting did not go according to plan. Residents received a catered lunch, courtesy of Sage, but no discussion of the rent increase took place.
Unsatisfied with the results, Skoufis went back to the drawing board to negotiate a deal with Sage. Over the past two weeks, multiple days were spent on reaching a new deal.
After numerous conversations with the president of the company, Amber Monte, Skoufis was able to establish a five percent rent cap, including a roll-back on rent for residents who already received a higher increase in the past few months.
“I went to bat for Idlewild Creek’s residents because they were being priced out of their own homes,” Skoufis said. “With this new agreement, we are on a real path forward that puts the residents and their needs first.”
Prior to Skoufis’ involvement, the owners were proposing upwards of a nine percent increase – as much as $125 per month – upon residents who are mostly living on fixed incomes.
“I was glad to work with Senator Skoufis to establish these new terms,” Monte said. “Sage Apartment Communities cares deeply about its residents and I hope this new rent agreement will provide them with the reassurance they need going forward.”
News of the agreement was shared with residents on Tuesday.
“I thank Sage Apartment Communities for coming to the table to work with us and do the right thing by my constituents,” Skoufis said. “I hope that this is the beginning of a new relationship between the company and residents, and I look forward to seeing this new agreement implemented.”