With the economy the last couple of years, it's not surprising there wasn't an increase. When I was in college (20 years ago!), it felt like about a $20 increase in rent per year was about the average. So the $48 probably feels like a "make-up" over 2 years for the apartment owners ... Sucks, I know. It's not all that different from property taxes, insurance, etc. for homeowners. And yes, landlords can increase/decrease the rent anytime a lease is up for renewal. Sometimes it's nice, sometimes it's not!
