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When a greedy or spiteful landlord sharply raises a reliable tenant's rent. Commonly seen in up-and-coming neighborhoods and landlord-tenant disputes.
My favorite coffeehouse got rentjacked, so now it's just an empty storefront. Total morning fail.

When Christine asked the landlord to repair the water damage from a leak in her apartment, he rentjacked her instead.
by philly jen February 19, 2011
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