Question for renters

Que*Syrah · September 2012

Our lease is up for renewal and we just got our renewal letter with a rent increase of 25%. Is it just me or is that insane? Previously we lived in a house owned by a friend and she never raised our rent so I don't have a ton of experience with this. We are in an apartment and I looked online and our floor plan is currently going for $125 below our current rent.

notkateanymore · September 2012

I wouldn't be shocked by a rent increase. We were told we would have one on our house, but if they're renting for lower than what you currently pay, I would totally bring that up. That's nuts.

Que*Syrah · September 2012

KateMW:
I wouldn't be shocked by a rent increase. We were told we would have one on our house, but if they're renting for lower than what you currently pay, I would totally bring that up. That's nuts.

I was prepared for an increase, just not so much. That's an increase of almost $300 a month which just seems like a lot.

Que*Syrah · September 2012

Man, we were thinking of staying here for another year, but this place isn't really worth an additional $300. I'll have to weigh the cost of moving vs. the increase.

MrsBalletStar05 · September 2012

25% is a ton!! Our lease has gone up every year, but it's only been around $30 extra a month each time. I'm really glad we are going to be buying a house soon...

vintagejjane · September 2012

25% is a lot. I wouldn't be surprised if they raised it on us, but not that much! Oy.

penguingrrl · September 2012

A 25% increase is insane. I've never had more than a 7% increase, usually lower than 5%. And if the same unit is going for less than you're currently paying and they're trying to stick you with a huge increase I would fight that. If they won't budge I would honestly look for a new place over that.

nosoup4u · September 2012

I know there's a cap on how much rent can increase in one year in my city, it would probably be worth looking up and seeing if there's any regulations where you are.

We had an increase of $100 this year, but it's less than a 10% increase (and we've been renting from our current landlords for four years without any increase).

meglew · September 2012

I am with the others in that while a landlord CAN raise the rent, 25% seems absolutely insane, especially with comparable apartments renting for less. Were there any additional amenities added to the property since the last lease renewal that would warrant that type of increase?

sophie206 · September 2012

That is big increase. We've been in our rental home for 3+ years, and the landlord told us when we moved in that she would not increase our rent, but asks in return that we give her as much notice as possible when we want to move out. We lived in an apartment for 4 years before we were married and they hiked the rent by about 10% year--which was a lot to me. I'd ask them if the figure is correct as it is a 25% increase and let them know that you may be looking for something else as you've seen similar floor plans for more than 100 less in your area. See if they might cut it back a bit.

Que*Syrah · September 2012

meglew:
I am with the others in that while a landlord CAN raise the rent, 25% seems absolutely insane, especially with comparable apartments renting for less. Were there any additional amenities added to the property since the last lease renewal that would warrant that type of increase?

No, but now that I think about it....

Our toilet flooded....twice....and the 2nd time it happened (worse than the first) it turned into a HUGE battle with the property manager. Now I'm wondering if she's just trying to force us to leave.

FormerlyKrista555 · September 2012

I'd move for sure.

kacelle · September 2012

KateMW:
I wouldn't be shocked by a rent increase. We were told we would have one on our house, but if they're renting for lower than what you currently pay, I would totally bring that up. That's nuts.

This. I've had rent increases every year, but if at any point they start leasing the same unit for a lower price, I go back and ask to resign my lease renewal for the lower rate. The companies have always complied.

AimeeL85 · September 2012

We rented for 6 years before moving a couple weeks ago. Our rent never went up....we expected it might; but 25% seems like a lot. Actually, with how high our rent was, 25% would have put us out of there.

kdjudd · September 2012

Rent increases totally suck, but honestly they are very common.

HawaiiLover · September 2012

FormerlyKrista555:
I'd move for sure.

This. We own now but when we were renting if we had gone up more then 5% a year we would have moved (we were already paying a TON!). 25% is insane! Your unit is a year older then last year and they are charging you $3600. more. No apartment is worth that increase especially if no new amenities or renovations were added. Good luck, that situation sucks

lisamoe · September 2012

We just started renting, but I'm pretty sure they can raise your rent after your contract runs out.

25% is insane, I think. And you said thats like $300? That really stinks!! I would look elsewhere, unless you are in love with your home or don't want to move.

najzomax · September 2012

I'd look into the legality of that... I am from Ontario and here the max yearly increase is 3%. The landlord can apply to raise it more but even then the max is 7 or 10% and the have to prove they have done major improvements to get the higher percentage. I can't believe they want a 25% increase! That's nuts!

denitab · September 2012

This really depends on your local & state regulations! I am a licensed property property manager in my state.

Youre stating that the increase is 25%. Did you move-in under a rental special? If you did then your total increase isn't 25% of the market rental rate. The market rate is how all increases tend to be based. The reason is it is a fair way to evaluate increased rental rates & be reasonable under Fair Housing.

You mentioned that the online rental special is currently $125 below your current price. You'll have to remember that rental rates are based on market conditions. Some change monthly & some change weekly. Also, just think that if things remain the same then the new tenant's lease is up in a year their rent will increase by at least $125.

I saw later in the posts that you had water leak issues on a couple of occasions. IF you truly want to renew your lease go talk to the property manager. Explain that you've had a couple of issues, that you believe that 25% is a large increase, even take the information that you've found online. Be open & receptive to what is discussed. The manager might be able to negotiate with you.

Just remember that the majority of rental increases are determined by a person in a corporate office. If you're not satisfied with how the property manager handles your issues and/or complaints, then ask to speak to the District or Regional Manager. It never hurts to ask.

Lastly, if the property manager is trying to get you out then you'll have to prove that everyone else's rental rate is different from yours (which could be a violation of Fair Housing). But remember landlords do have a right at the end of the lease not to renew it.

Disclaimer: this is based on my 15 years of property management in South Carolina. Every state is different. Check your local & state laws.

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