Residents worried after apartment rent spikes by nearly $300 a month in Rocky Mount

Residents of a Rocky Mount apartment complex are concerned after finding a notice on their doors that their monthly rent will increase by hundreds of dollars at the end of February.

Some people living at Jeffries Cove say they won’t be able to continue living in their homes at the new rate, and WRAL News took their concerns to the new company running the property.

When she got home to her apartment in Jeffries Cove last week, Vickie Jones found a piece of paper attached to her door.

At first, she thought it was a flyer for a local business.

“I had no earthly idea that it’s a notification of rent going up ... $300,” Jones said.

The notice was from the apartment complex, saying rent for a two-bedroom apartment would be increasing for Jones from $565 monthly to $832 a month.

Residents across the complex got the notice that their rents were rising. The message stated they had until February 28 to accept the offer and sign a new lease, or they would have to pay a month-to-month rent of over $1,000.

“And giving us such a short notice, we’ve got until February 28, that’s not a notice to go and find something decent,” resident Desi Powell said. “It’s putting us out in the street.”

The complex was bought in October by a company based in High Point called Apartment Dynamics.

On Tuesday, WRAL News asked Apartment Dynamics what was driving the rent increase.

“It is a tough thing, but those rents just haven’t been increased over the last decade, or more,” Apartment Dynamics chief innovator Mary Gwyn said.

Gwyn said the new rent for a one-bedroom apartment would be $725, which would fall below the median rent for the Rocky Mount area of $790. She said the rates for a two or three-bedroom unit would also fall below the Fair Market Rate, which is determined by the federal office of Housing and Urban Development.

The company said they understood some residents wouldn’t be able to pay the new rates.

“No amount of time would be enough if it’s going to force you to move, or if it’s going to raise your costs,” Gwyn said. “When is enough time for that?”

Gwyn said staff have been available at Jeffries Cove to help residents look for affordable housing elsewhere.

The company said it’s also set up a new fence around the property for security and will be offering regular maintenance of apartment units for the first time.

Some residents said it would take a lot of work on the complex to justify the increased cost.

“Bring it up to par, that you want us to pay that amount of money,” Jones said.