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.
“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.”