(Closed) My rent was increased

posted 7 years ago in Home
Post # 17
Member
8036 posts
Bumble Beekeeper
  • Wedding: December 2013

@sarg88:  Look for something else! Don’t lock yourself into another lease. I’ve lived in my apartment building for the past 4 years and rent has steadily gone up around $50/year. We are looking to move soon as well.

Post # 18
Member
1966 posts
Buzzing bee
  • Wedding: September 2013

My increase is usually $30-$50. My sister lives 7minutes from us & just got a letter they’re rent is increasing by $120. Like you they could swing it but their rent is already really high & they don’t think it’s worth it to stay. They have a gorgeous apartment but could have a house for the same $$. If you didn’t have so much going on I’d definitely vote move. I would call & see what your options are as far as monh to month. Maybe they can give you until september to make a decision give you a little time. 

Post # 19
Member
67 posts
Worker bee

@sarg88:  I would explain the situation, and tell them you’ll stay for an extra month at the new rate. That way, they’ll have the time to advertise and show the apt and you’ll have the time to honey moon and find a new place to rent. Then you can get a better place for the same price or less, or a kind of junky/too small place so you can save more your down payment on a house. Sign a month to month lease at the new place.

Post # 20
Member
668 posts
Busy bee
  • Wedding: October 2013

Depends on your state. Mine went up just about the same amount. Go talk to your leasing agent and see what you can negotiate. We managed to get a lower rate for 6 months (still an increase, but gives us time to find a house and move).

Post # 21
Member
67 posts
Worker bee

@sarg88:  Explain your situation, and agree to stay for an extra month at the new rate. That way, the landlord will have time to show the apt and list it for rent, and you’ll have time to honeymoon, then find a new place. I would get a cheaper, kinda crappy place to save more for the down payment when you get a house. Sign a month to month lease. Hopefully you’ll find a house and close in only a few months. Keep as much stuff as you can in boxes so it’ll be easier to move when you find a house.

Post # 22
Member
2375 posts
Buzzing bee
  • Wedding: June 2014

Mine went up $100 this year, it’s about average for my area.  I don’t know about your complex, but mine charges extra to go month to month.  I’d ask about a 3 or 6 month option. 

Post # 23
Member
13561 posts
Honey Beekeeper

Our rent increases every year, and it stinks! Unfortunately, that’s one of the huge drawbacks of renting.

If you go month-to-month or to a shorter lease term, expect an even greater increase in the cost of your monthly rent in order to do that — though, the upside is that you won’t be tied down to at your apartment for as long a time. And you could find an apartment that fits your needs better until you’re able to look into purchasing a home (if that’s in the plan).

Post # 24
Member
708 posts
Busy bee

You might start a conversation simply with an explanation that the rent increase has caused you you reevaluate renewing the lease and just an inquiry about possible month-to-month options, a smaller increase for a shorter extended contract, or the flexibility in subletting.

If you don’t make too much light of your situation right off the bat, you may find that they’ll work with you to keep you in the unit rather than face a number of empty units in a turnover period. They do like to keep a reliable tenant when possible, and if there’s not a waiting line for the units, this can work in your favor.

Good luck!!

Post # 25
Member
3355 posts
Sugar bee
  • Wedding: May 2012

My rent went up $50/month after the first year, and it’s going up another $70/month if we renew. $125 would be steep for me sheesh! Mine charges pretty steep for month to month. Most places should have a month to month, it’s just really really expensive.

we’re planning on moving soon, so we asked about a 3 month lease. They offered a 4.

Post # 26
Member
2334 posts
Buzzing bee
  • Wedding: November 2012

If you don’t want to live there, I certainly don’t think you should renew your lease and pay more.  Finding a month-to-month place sounds like your best option.  Unlike Eagle, I don’t think moving before your wedding would be that bad- moving sucks regardless of what else is going on, but its only for a few days.  If you do move, you’ll be able to come home to a place you like after your honeymoon.

Post # 27
Member
11736 posts
Sugar Beekeeper
  • Wedding: November 1999

Yes, that’s a normal price jump – at least where I live it is.  Ask if you can go month to month – it will cost you more though likely. If you haven’t even started the home buying process, I’d probably stick it out at your apartment since it may take more than just a few months, even up to a year to find your new home.  The penalties of breaking a lease are annoying but not terrible should you buy a house before your new lease is up.  

Post # 28
Member
1876 posts
Buzzing bee
  • Wedding: October 2014

Call and negotiate. Every year our landlord tries to increase by $100. We start off sayign we don’t want an increase at all. Eventually we get them to agree to a $50 increase. I think you could try this tactic as well. Call them up, explain that you’ve been a good tenent for X amount of time, paid rent of time, not caused any damage, etc. You would like to renew and continue your relationship with them, but you don’t feel an increase is warranted considering you aren’t receiving any upgrades to the apartment for that money. After you say all this, wait them out. See what they have to say. And then, say something along the lines of “We would feel comfortable at most increasing by $50/month. If you can agree to that we’ll sign and send the lease over today.”

Post # 29
Member
2515 posts
Sugar bee
  • Wedding: December 2011

that sounds pretty steep. we’re on month to month and they only increase our rent $50 every year. i’m pretty sure there’s a cap for how much they can increase it. i know there is in san francisco (where we used to live). i say call them and see if they’ll do month to month for you. it doesn’t hurt to ask. also look up your local renting laws to see if there’s a cap on how much rent can increase. just because it’s new management doesn’t mean they can come in and raise the rent however much they want (they can list empty apartments for however much they want but not tenants already living there. ex- our rent goes up $50/year but the empty apartments get listed for much higher than what we’re paying. the most recent 1br was listed for $100 more than what we pay but it’s the same layout as ours and same floor.).

 

Post # 30
Member
8469 posts
Bumble Beekeeper
  • Wedding: July 2012

Damn!!  That’s a big increase!  My husband has rented the apartment we are living in for 6 years, and throughout that time his rent increased by $20.00!!  And that’s over 6 years!

Definitely see if you can do month-to-month.  What are your plans?  Looking for a house?  Condo?  Bigger apartment?

Post # 31
Member
7899 posts
Bumble Beekeeper
  • Wedding: March 2012 - Pelican Grand Beach Resort

Have you actually enquired about month-to-month? Usually places offer it at a $100 premium. I’d be shocked that a new management company wouldn’t offer that. Plus, it very well may be in the terms of your original lease, which they have to honor.

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