Post # 1
Hi Bees! I need some help – advice – opinions on what you would do….
I got a letter in the mail yesterday from my landlord saying my rent will be increased if I choose to renew my lease. The timing of this could not be more awful:
1) We are getting married July 26. Our lease is up July 31.
2) Our initial plan was to go month to month. But, our complex was recently taken under new management. So, I don’t think this is an option anymore.
We don’t want to live in this place for the next year. After the wedding we wanted to seriously start looking to buy. The thing is, our rent was increased by $125/mo. Is this a normal jump? We can probaby still afford it – but honestly, our place isn’t that nice. For the new price, we can certainly find something better. But, should we? I mean, how are we going to get married, move, go on a honeymoon and, oh yeah, Fiance starts Law School August 12. What would you do? Should I call and try and negotiate with our new landlords for a lower rent? Should we see if they’ll do month to month? Should we see if we can do 6 months? Should we start looking for something else?
Post # 3
How much is your original rent? I believe the normal increase is 5-10%, depending on the demand for the area.
Post # 4
It’s a normal jump in price, unfortunately. And this is exactly why I hated renting. You can either find a house really quick (we found, inspected, bidded on, and won our house in 5 weeks but I’d been looking online for half a year prior) or move somewhere else if you don’t want to pay more.
Post # 5
I say call them and explain your situation.
That you’re happy to pay the increase, but don’t want to be locked into a conract as your circumstances could possibly change in the next few months.
Don’t expect the worst.
We were kicked out of our first place because they were renevating – I told them we’d found a new place but could we stay in there just a few days longer to make the move a bit easier and they agreed.
Our rent was recently increased by £50 ($75) so I don’t think $125 is mega steep.
Post # 6
Does your town have a limit on the percentage that rent can be increased?
I know mine does – legally it’s 2.7%.
You may want to check with your town hall about rent increass limits and laws.
Also check with your state (are you in the states)? Many states will have a free call-in center to help assist renters with legal questions.
Then I think you are in a better position to speak with your landlord about your rent – it really can’t hurt to try. The worst they can say is “no.” And then you decide whether you should stay or go.
BTW, you can move if you like!
We are planning on moving to a new apartment on Feb 1st next year, and we’ll be getting married on March 1st. We almost chose February 8th for our wedding date!
Just get lots of friends to help you guys pack up EARLY and try and find a place that will let you move in a bit early!
[ETA] with the 2.7% increase, our rent went uo by $30/mo. It wasn’t too much but our rent is already kind of high for our preferences (we’re trying to save for a house). FI doesn’t like the rent costs, so we’ll be moving next year.
Post # 7
@sarg88: I would try to negotiate what you can with the landlord, but probably gets no where. sooo… try moving. I know it’s too much to do, but it will be worth it. Find a new place where you can stay to while trying to buy a house.
Post # 8
WTF? Geeze, our complex won’t increase your rent if you renew because you already live there. And our increases are only like $15/mo.
Post # 9
- Wedding: August 2012 - Historic Lougheed House
Moving near your wedding will be distastrous. I ended up paying 2 months of double rent because I found a place I wanted and my original lease on a shitty apartment was up 4 days before my wedding. I was NOT moving 4 days before my wedding.
Your best bet, I think, is to try to negotiate for month to month. And if worst comes to worst, and you buy a house… how hard do you think it would be to find replacement tenants? A lot easier than moving a few days before your wedding. Leases can always be taken over…
Post # 10
We had a similar rent increase before we made the decision to buy. But we also weren’t engaged or planning a wedding when we bought our house, so the stress was manageable. With the wedding and everything going on, I don’t think it’s a good idea to add the stress of buying a home into the mix. I would negotiate a month-to-month or short term contract. Our apartment offered us a 6-month contract when we negotiated, but we ultimately took the month-to-month because we found a house very quickly.
Post # 11
@sarg88: That seems like a pretty big jump to me but, they can pretty much charge whatever they want. You may want to look into what they’re charging new tenants for the same unit.
If you go month to month or do a six month lease, they will probably actually charge you even more. Short term leases tend to be more expensive but I could be wrong. Even so, it may be worth it to you to pay the extra so that you’re not obligated for another year.
Look into the tenants rights in your area and read your lease – what does it say about the end of the term? In my state, unless a new lease is signed, it automatically goes month to month but the landlord can increase the rent. Knowing your rights and your lease can help you negotiate.
Post # 12
Unfortunately that’s a normal increase. I have to agree that I think moving around the same time as your wedding would really put a damper on your ability to enjoy your big day. Talk about stress! Add in your FI starting law school in August, oif I can’t even imagine
I would honestly go and talk to your landlord. Have you guys been there long? I know our landlord is uber flexible because we’ve been in this house for 6 years now. If that doesn’t get you anywhere, then it might be time to looking at other options. I would talk to your landlord first and see where that gets you. Good luck!
Post # 13
we’ll only be finishing up our first year lease. so, no, we haven’t been there that long. it ends up being like a 20% increase in rent. I guess I’ll call today and see if they can work with me.
Post # 14
Yikes I’ve never heard of an increase that steep. Before we relocated to Atlanta our lease went up from $675 to $700.
Post # 15
Before calling management, contact your landlord-tenant board, or look up any local websites on landlord/tenant rights. There may be rent control guidelines that you can cite in your conversation with management.
Post # 16
Nearly all cities/municipalities have a statutory cap on how much rent can be raised on tenants at the expiration of their lease, so you should look into what that is in your area. I will say that from my experience (I did a legal clinic with NYC landlord/tenant court in law school) this does not sound like an excessive increase and most landlords are very familiar with this law and will always raise rent the maximum amount, but rarely exceed it. I would talk to them about month to month tenancy at the increased rent, although I am not sure they would be amenable. Maybe you could do a six month lease? As long as you don’t live in NYC, most jurisdictions require landlords to mitigate damage from a broken lease, so it’s really not the end if the world if you sign a one year lease and leave before it ends. The landlord would be required to seek a new tenant for the apartment and you only have to pay the vacant months (again, depends on where you live).
I will say you might want to reconsider purchasing a home and moving during your husband’s 1L year. That is the hardest part of law school and really the most important year to do well. Plus I was SO poor that year especially. We bought a house while I was studying for the bar exam…. Don’t recommend that either! 2L year and the first part of 3L year would be the ideal time for life changes, in my opinion. Hope this helps!