Tenants eye renovation discount

Say 'reduced quality of life' not worth full rent

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Q: For six years I have lived in a beautiful six-townhouse complex with a common courtyard. The other tenants and I have become such a close-knit "family" that we even spend holidays together. Last year, a new owner bought the place and he clearly is interested in maximizing his income. In one year, he not only raised our rent by 3 percent but we have seen fliers indicating that the newly renovated units will go for almost double our current rent!