2 bedrooms, 2 bathrooms, a tiny kitchen, zero storage space, an air conditioning unit that breaks like clockwork every month, god-awful management, and a total of 1,095 square feet: that's my college apartment in a nutshell.
It's a pretty mediocre living space.
Here's the thing: the rent is over $1,400 a month without utilities. With a roommate, that brings rent to a little bit over $700 per person per month. That's over 70% of my monthly income.
This is common practice in much of the United States and in my area of Orlando. Every apartment complex within five miles of my university charges insanely high prices to live in insanely small spaces. The situation isn't any better for on-campus housing. There just aren't affordable options in the area, so if you want to make sure your rent costs remain below the recommended 25% of your income, you better be sure you have at least three roommates (and often more).
Most students are essentially left with two options to pay for rent: get a job and work way more hours than you should have to while you're a full-time student or bury yourself in student loan debt.
That's a major problem.
You shouldn't have to live with multiple other people to get your rent costs down to less than a quarter of your income. No one wants to do that, and it's outright wrong to charge people so much that sharing a small space with three, four, or even five other individuals is often the only option available.
It would be one thing if the operation costs of these apartment complexes were anywhere near the price they charge, but I find it extremely hard to believe that running these complexes costs anywhere near the amount of revenue they're bringing in. In combination with the extra funds housing corporations secure by charging for parking, unjustly withholding security deposits, and skimping on repairs and cleanings, it is certain that rent money is almost pure profit.
The problem doesn't end once you exit college, either. Unless you are able to find a good job right when you're done with school, it's likely that you'll become trapped in the cycle that so many adults are in right now. Rent costs are so high that it's nearly impossible to save up enough money to ever actually buy a home.
It's time to make a change. Housing is a basic need. I don't think it's wrong to draw some profit for providing housing to others, but I think there needs to be a limit.
Renters shouldn't be left desperate for cash and eating cup ramen for dinner just so they can live somewhere.