Business ProfileforAspen Ridge Management, LLC

This company is criminal. They primarily serve college students and only offer year long contracts, when they know that the students will not be there for half of the year. The leases are non-negotiable and they own half of the available student housing for ***. This gives students almost no choice when getting housing and forces students to pay for housing they dont need during the summer. They are notorious for not maintaining their property and raising rent 11.3% each year (actual ********* increase). Their ******************************************************************************************************************************* consequences. If tenants make the slightest mistake or cause the slightest inconvenience, they can expect to pay a hefty ****** summary, this company forces students to sign non-negotiable contracts and to pay high premiums for unmaintained housing for periods of time that are longer than needed and provides no possible way for tenets to leave the contract. They have monopolized a basic human need in Provo and take advantage of a vulnerable population.

Hi ***, We appreciate your concerns. We are very clear and upfront that the leases where you are renting (have been and continue to rent) are only offered on an annual lease. We do not own the majority of the properties we manage, we manage them for private owners who use a property management company to rent, maintain and handle the day-to-day operations. There are several properties around Provo that offer shorter leases (they have a higher rent than where you are living due to the lease being shorter). The property which you reside is in a highly desired area, 3 blocks south of BYU student where the rent is $349/mo plus utilities and fees, which makes it one of our most affordable properties for students. We do only offer annual leases at this property, however, due to the price and proximity we had many of our students sell the portions of their contracts which they didn't need. The rent increase this year was $0. I"m not sure why you are stating the 11.3% increase, but that is simply not true. You paid $349/mo in rent last year and we kept the rent the same this year at $349/mo. Your new rate that you just paid (yesterday) was again, $349/mo. (Your new lease began 9/1/2024). I'm not sure what kind of mistakes you're talking about being charged for - I've reviewed your ledger and found no fees/charges for anything other than rent, utilities/account service fee which are outlined in detail on our website, as well as on the first page of the lease agreement. We did our best this year to keep rental increases to a minimum, but with increasing property taxes and increasing insurance rates (many insurance companies are choosing to no longer insure student properties so owners are having to insure through 3rd parties which are 3-10x the amount) and the owner where you live is an elderly woman, she is on a fixed income, so she has to look at these expenses each year and decide how to recoup as they continue to raise. The main reason for increases in rent are due to increase in costs for the landlord - insurance, property taxes, etc. I hope with explanation you can better understand her/our position in trying to be able to continue to keep rents low ($349/mo is a phenomenal rent rate) and the need to charge for some basic utilities ($20 for water/sewer), ****************** Thanks again, ****** Aspen Ridge Management

Correction: The new rent rate is $379/mo (still very affordable in my opinion) which is a $30/mo increase from last year, which is a 9.2% increase. Thanks,****** Aspen Ridge Management