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Rents are adjusted each year by the city's Rent Guidelines Board, which last year authorized a 3.75% increase for one-year lease renewals.
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She eventually entered into a one-year lease, from April 1, 2004 through April 1, 2005, for an apartment located in Johnson City, Tennessee.
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"If I was going to buy, I feel like I would be just in the same problem that other homeowners are having with the market, " said Laurel Slutsky, 24, who just renewed the one-year lease on her Chicago two-bedroom.
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