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| - The most valid and accurate statement to be made about this company is that they are first and foremost a profiteering corporation. Their bottom line is their spreadsheet...it is NOT 'you', the 'tenant'.
I have been renting from them for the past seven years, and in the beginning, it was pleasant enough. The initial rent rate was 'fair', although they left out a few 'extras' that were going to add up in time. Initially, the office staff was pleasant and 'human'. But in a very short time, that office staff had a complete turn over, and the 'new' staff became very corporate and self-interested.
To cover the positives, the space that I rented from them was renovated nicely (mostly), and if there were any problems (very few for a newly renovated space) they were responsible and quick to rectify the situation. When the Hope Depot low cost stove stopped working, they repaired it. When the 1940's fuse box was blowing fuses, the replaced the box with a more modern switch box. When the sewer backed up in the basement, they snaked it. They didn't clean up the mess that was left behind, but they snaked the drain and got it working. When the roof started leaking, they sent someone to quick patch it. If there is a problem that is covered in the lease, they attend to their responsibility.
If you are ONLY looking for a space for a one-lease term, then this is the corporate entity for you. However, if you are looking for a long term and affordable living arrangement, then it would be best to look elsewhere, or buy a house, because Forbes does NOT seem to want long term tenants unless they have the budget to satisfy Forbe's greed needs. And this is indeed a driven need. And they have no issue with pricing you out of your home forcing you to move.
They WILL raise your rent with every lease you sign, and they will NOT assess who you are, take into consideration whether or not you are a decent human being and a good tenant to your neighbors and the space. It will not matter how reliable you are. Ca-ching...the computer says...
They also left out a few details in the presentation, which was very convenient since the first bill took a quarter to arrive. You will pay ALL utilities...this includes water and sewage, which will raise your rent another $25 or more per month, depending on how often you actually use water.
Something else to consider in 'renting' their extras. For a washer and dryer on the premises, add another $20 per month (or more) to 'rent'. For central air, add another $25...to 'rent'. After seven years at $20 per month, trust me, you can buy the same cheap machines that they do at Home Depot, and STOP paying for them a little over a year in.
At the end of my seven years, I will have paid just over $45,000 to 'rent' their space, and that amount is for the RENT alone, not the utilities, and that amount is for only HALF of the duplex. When I dared to question the rent increases, they cried 'taxes' and 'assessments' and 'maintenance'. The only maintenance involved in seven years time were the two roof leaks, the clogged drain, two repairs to the stove, the fuse box, one repair to the door lock when I got locked out on a Sunday, a couple of quick fixes to an awning that they wanted to tear down, which I repaired twice and is still intact, a repair to the handrail that the snow shovelers they hired broke (most of the time, I shoveled my own walks, as well as the neighbors' on both sides), and the little crews of lawn maintenance
guys, and snow removal guys that they seem to change for a cheaper crew every year. The latest crew of snow removal guys seem to believe that a 'path' is enough for their money.
So, as long as you pay your bills on time, keep up with their extortion, and remain quiet enough that they don't even have to bother knowing who you are, you are their golden tenant.
BUT...the very MINUTE you decide to not renew a lease and move on, you cease to exist in their minds. Forbes settles their lease renewals SIX months before the end of your lease. It took them ONE DAY to line up viewings for my home, with five months left to go on my lease. They claim that they simply MUST catch the students. They hiked the rent up another $200, and fail to tell students that the neighborhood is about the LEAST 'student' friendly neighborhood in 'the city'. There are no amenities IN the neighborhood (Morningside), and there is no bus service at all after 9:30 PM or weekends. But hey, give us mommy and daddy's money, and figure that out on your own. Adding another $200 in rent just achieves 'fair market value' according to the office. For what CITY this is 'fair market value' is anyone's real guess, but for a half a duplex (oh no, let's call it a 'townhouse') in what really is nothing more than the prettiest little mobile home park ever built out of brick, Forbes believes that ripping off students for almost a grand a month is 'fair'. Real people? Get lost.
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