rent increases - Landlord Forum thread

rent increases by Jim (CA) on March 27, 2012 @07:07

I am a tenant. My landlord and I are working out an extension at present. I have been an ideal tenant for the past 1 yr and I would like to stay for another 2 years. He is eager to have me stay. He presented a lease extension agreement raising the rent from this past year to over 10 percent. And for the second year a total for 15 percent compared to last yr. I find this increase to be quite excessive. I am typically used to seeing a 5% increase or so. He is trying to say that he is bringing the apt rent closer to marked value using a similar apt that recently went for about what he's asking for however although that apartment is same #beds and sq footage it has a kitchen island and french doors. it isnt exactly the same. Who's in the right? Would you meet half way?

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Re: rent increases by Jim (CA) on March 27, 2012 @07:10	[ Reply ]

and by ideal tenant i mean: i pay my rent on time every month, sometimes even early. i keep the place spotless. i probably care more about keeping the apartment perfect than my landlord. i never both my landlord about anything or complain about anything. i am just so shocked that he wants to increase my rent by so much in 1 year.

Re: rent increases by Nicole (PA) on March 27, 2012 @08:31	[ Reply ]

No response about who is right or wrong as you both are in your own minds for your own reasons - you do not have the same agendas in life. Your priorities regarding life in general and this property specifically are different than your landlords. You do not know his long range plans. He does not know yours. In my area, municipal fees, any landlord paid utilities, real estate taxes, insurance, etc., go up annually and 5% won't cover the increases. As to whether or not the property is market value, the landlord is the one who is going to weigh you paying on time against him getting someone else to pay on time and pay more.

Re: rent increases by Betty L. on March 27, 2012 @09:26	[ Reply ]

If your landlord increased your rent significantly, he or she may be violating local rent control laws. Many cities in California have rent control laws, including Los Angeles, Beverly Hills, Santa Monica, and West Hollywood. If you live in one of these cities, you may be protected by rent control ordinances. These ordinances are designed to protect renters from unfair increases in rent.

Re: rent increases by A.T.SF (CA) on March 27, 2012 @10:23	[ Reply ]

Hi Jim, The first thing you need to be familiar with are your California Tenant Rights... http://www.dca.ca.gov/publications/landlordbook/catenant.pdf You are definitely on the right track to question the proposed rent increases. Like the previous poster said many cities in California have a Rent Board/ Rent Control Ordinance that limit landlords to either a mandated allowed increase or a standard annual increase that does not exceed 10% of the base rent. Check with your local ordinance board and do not sign the renewal until you do. By the way this year in San Francisco the Allowable rent increase is 1.9%

Re: rent increases by JD-NY on March 27, 2012 @18:16	[ Reply ]

Nobody is right and wrong you and your landlord are both trying to get yourself in the best possible financial position possible with as little risk and hassle as possible nothing wrong with what either one of you are doing. But if I were you I would simply tell him his increase is too high and you will need to shop around and compare his places. Don't settle for just market value someone is renting those 10% cheapest paces and since you are a good tenant and probably have good credit it might as well be you! Don't sell yourself shorts start looking at other places. Maybe the place you are renting market value does not merit an increase at all. Don't sell yourself short, it sounds like you have your house in order and pay your bills on time and in fill. You might as well avail yourself of the benefit of doing this.