Rent Increase Question - Page 3

Q4u · ‎03-17-2010

Spurt - that's so unfair.....

Yup, all his friends and everyone who heard about this were livid with the landlord because it was obvious that he thought he could do this by taking advantage of my son's friend's disability in order to up the price.

It's wonderful to have friends isn't it?

*~"Never eat more than you can lift......" Miss Piggy~*

May5 · ‎09-14-2014

Thank you to all that responded. I appreciate you.

chickenbutt · ‎03-09-2010

I've been amazed, over the last several years (prob more) , hearing what kind of prices they get to rent just an apartment!

Every single thing I've heard, even from 1bdrm or less, over the last several years has been amounts that are WAY WAY more than I pay on my mortgage for a 4bdrm house!

It's just shocking! Back in the day, rent for an apartment or even a house was less than you'd pay to buy.

FiddleDeeDee · ‎03-06-2020

@May5 It is considered the industry standard when working with a real estate office/property management for a multi-term (aka long term) lease. As landlords, our leases all state 5% increase if the tenants choose to renew their lease. We offer a NO INCREASE of the rent if they sign a multi-year lease. We have found this to be true whenever we rented a property EXCEPT when we came to FLorida. We have found (via our own Realtor) and asking via our community Facebook page (many have asked this), why our rental contracts do NOT contain a clause regarding the percentage increase for the next year; the answer (without fail) is so the landlord can increase the rent as much (or as little) as they choose.

It's been interesting as we've not found that anywhere else in the country we've lived. That said, we've always demanded a written contract, we've always rented through the MLS except when it was an apartment complex and in the case, we wrote in the clause "no more than 5% yearly rental increase". Of course, we asked about it before signing a lease and those who allowed us to do that are the ones we rented from. Just our experience as renters and as landlords now.

"Coming to ya from Florida"

on the bay · ‎03-09-2010

My daughter's rent went up $300 this year! Unbelievable! And it isn't even a nice place. Really old, really small and a maintenance issue every week. Mold in the dishwasher, leaks in the closet and on and on.

One of the apartment buildings there burned down last year so I guess they are trying to make up for that. But they do have insurance! That is really robbery. They will move when their lease is up. awful and upsetting.

"If you walk the footsteps of a stranger, you'll learn things you never knew. Can you sing with all the voices of the mountains? can you paint with all the colors of the wind?"

Duckncover · ‎07-16-2021

The housing market here has gone through the roof...many cannot afford to buy a first home,so landlords are taking full advantage by charging as much rent as they can. I don't think it has anything to do with the pandemic. We are trying to downsize, but it will cost much more to buy a home half the size of the one we have now...so we are staying out for now.

elated · ‎06-09-2010

I live in Colorado. For two years, I had no rent increase and this year it went up 8%. The rents are very high but the they have income based housing. Rents for a 1 bedroom 1 bath apartment range from $1550 to $1900 per month. In the Denver area, the rents are much higher. It just depends on what area you live in Colorado.

I am getting ready to relocate to Kentucky. My family is moving there and found a beautiful home for half of what you would pay in Colorado. It is sad because Colorado is a beautiful state but moving on and upward to a better life. Nothing is cheap any more. Inflation rose to 8.5% in March from 7.9% in February.

Meowingkitty · ‎06-19-2010

@scatcat wrote:
@Meowingkitty wrote:

@on the bay wrote:
Some states have rent caps and can only increase a certain percentage each year.
Other states can go hog wild. I've seen 20-30% increases-crazy!
It's scary but a house is not always a better alternative for some. You need a lot of money not only to pay the mortgage and property taxes and maybe homeowners fee if there, but all the repairs and replacements that will be pretty much all at once if the house is 17 years old or more.
Then there's the lawn, trees etc.
So like others have said @May5,
5% is the lowest I've heard and is a great bargain. And you can feel good about that.

Houses in my neighborhood are renting for around $2500 a month. They are just normal houses, around 1800-2100 sq feet. Fortunately mine is paid off so all I have to pay is around $1300 a year in property taxes, no HOA, and I've saved for repairs should the need arise. If I was to buy a similar house in my area they are around $500,000 which I find ridiculous

@Meowingkitty

Your taxes are $1300 a year? Congratulations!

Yup

Lipstickdiva · ‎03-10-2010

I just saw on the news this morning that rent increased on average 5% over the last year.

FiddleDeeDee · ‎03-06-2020

@Lipstickdiva wrote:
I just saw on the news this morning that rent increased on average 5% over the last year.

And I don't have a problem with that; I expect that due to the rising costs of everything each year plus profit for the business (landlord) owner. It's the 25% plus that is shocking especially when the place is NOT maintained by the landlord.

"Coming to ya from Florida"