Demand lower rent

Taylor Broad, Britni Hummel, University students

Doran Company, which owns 412 Lofts, Dinkydome Lofts, Sydney Hall and The Edge on Oak, has created many concerns regarding pricing and operating methods. I find it disgusting and repulsive how the company has come into the University of MinnesotaâÄôs apartment rental market and completely monopolized it.

As students, weâÄôre already required to pay around $15,000 a year for tuition alone. WeâÄôre now also expected to pay annual fees of up to $18,000 on rent for a one-bedroom apartment. I think it is ridiculous that yearly rent totals more than tuition after fees are instated. Some of us are not fortunate enough to come from a wealthy family or have parents who are willing to pay both rent and tuition each year.

All I wish is to live in a healthy, clean and safe environment close to campus that doesnâÄôt cost an arm and a leg. As a young female, I donâÄôt want to live outside the campus area by myself because of safety and convenience concerns. I also would rather not have to live with roommates while IâÄôm in an intensive program.

There may be apartments in the area owned by other companies, but Doran Company has single-handedly driven up rent at other complexes. The rental rates around campus are higher than any other area in Minneapolis. You would think that five luxury apartments popping up around the area would create increased competition, causing prices to fall. However, thatâÄôs not the case. Since the Doran Company hijacked the rental market, the opposite is true, and students are now going into debt after graduation by taking out increasing student loans to cover rent.

The Doran Company reaps its own success at the cost of thousands of University students simply trying to obtain suitable housing while furthering their education. As students, we need to begin refusing to pay these absurd rental rates in order for the market to reach a saturation point, forcing this company to lower its monthly prices.