Current Events > They trying to raise my rent buy 200$ if i renew lease.

(+) Yeah! (+)

Trash. Now i know why CE hates landlords.

Just moved almost a year ago.

Yup. Rent is skyrocketing everywhere.

_Rinku_ posted...

Yup. Rent is skyrocketing everywhere.

The cost of goods has gone up! Shipping is influx! ...wait.

this is clearly an outcome of that raised minimum wage that most places haven't even gotten yet!!

Time to overpay for a house.

FLAMING EVIL HOMER posted...

Time to overpay for a house.

That is way better than renting

FLAMING EVIL HOMER posted...

Time to overpay for a house.

Bank: "sorry we don't trust you with this $800 mortgage. continue paying that $2000+ rent for awhile and then we'll talk"

That was the plan after another year lease but dang, now i want to find one in month lol.

FLAMING EVIL HOMER posted...

Time to overpay for a house.

Here in SD it's flipped. Rent is ~$3k for a 2/2 but an equivalent mortgage would be $3500

FLAMING EVIL HOMER posted...

That was the plan after another year lease but dang, now i want to find one in month lol.

I did that. I got told my lease wasnt going to be renewed, and had a month

I got approved and moved in on 5 weeks

damn TC, that sucks. the way rent is being increased out from under practically everyone is so fucked. at this point it feels like the landlords are pushing it as high as they can get away with.

My friends had theirs raised 400.

Shits crazy right now.

Unsugarized_Foo posted...

I did that. I got told my lease wasnt going to be renewed, and had a month

I got approved and moved in on 5 weeks

I actually have till end of May to move but i need to let them know by end of this Month whether i want to renew

Do you think others would take on such a lease?

If no one else would be willing to sign, perhaps you could bargain a little.

in my country "market rent" or whatever you want to call it has always, always gone up every year or two. 10 years ago I could rent a 2bedroom for 290pw, same house is now like 450pw. is this something new in the states or just new adults learning how fun adulthood is?

A buddy I work with had his go from $2200 to $3000/month (Miami). Sucks.

To be fair, my mortgage went up this year by $200/month. Insurance or something. Its a fixed rate loan so the interest cant change but I still havent tried to figure it out.

It never hurts to say how much you have liked living there and will they consider renewing for the same rent. Also be sure you can find a place for less than they charge before you move.

Yep, my 700 sq ft studio in Phoenix went up 400. Lived at this place for a year.

Moving out in 2 weeks.

whitelytning posted...

A buddy I work with had his go from $2200 to $3000/month (Miami). Sucks.

To be fair, my mortgage went up this year by $200/month. Insurance or something. Its a fixed rate loan so the interest cant change but I still havent tried to figure it out.

Shop around for different homeowners' insurance. Even if it's rolled into your mortgage and paid by your lender through an escrow which I'm assuming is the case, you are still in control of what insurance provider to use.

I was able to switch mine and not only is it cheaper but it covers more.

The catch is the old company has to issue any refund directly to you, then you have to deposit into your escrow yourself, so that PennyMac or whoever can pay the new premium.

The only other thing I can think of is property taxes, but still a $200/mo hike still seems insane.

Definitely dig further, your payment on a fixed rate should never change

my rent almost went up 75$ with no increase in my income for last year.

wasn't my worse experience. one year when the new apartment owner took over the place he jacked up the rent 250$ (he said i was getting a better deal because i was an existing tenant).

Mine went up about 50 bucks, but it hadn't gone up for awhile so it wasn't a huge hit.

whitelytning posted...

A buddy I work with had his go from $2200 to $3000/month (Miami). Sucks.

To be fair, my mortgage went up this year by $200/month. Insurance or something. Its a fixed rate loan so the interest cant change but I still havent tried to figure it out.

Insurance and property taxes can always change annually, so if your mortgage payment includes a portion going to escrow for covering those 2 items, it will change over time.

The mortgage company should send an annual escrow statement that details how they arrived at the new monthly payment calculation.

whitelytning posted...

A buddy I work with had his go from $2200 to $3000/month (Miami). Sucks.

To be fair, my mortgage went up this year by $200/month. Insurance or something. Its a fixed rate loan so the interest cant change but I still havent tried to figure it out.

did your property taxes increase?

Thats absurd. They raised mine $100 this renewal cycle. Been here for five years and the rent only went up a total of $100 over the first four years. Now? Instead of average of $25/year, its $100/year.

Im legitimately considering breaking the lease next year and moving in with my parents. They house is nicer and its free.

Ive rented for like 8years here around different places and this is the highest jump between leases i have seen.

Payzmaykr posted...

Im legitimately considering breaking the lease next year and moving in with my parents. They house is nicer and its free.

living with parents isn't so bad. helps them with rent mainly.

whitelytning posted...

A buddy I work with had his go from $2200 to $3000/month (Miami). Sucks.

To be fair, my mortgage went up this year by $200/month. Insurance or something. Its a fixed rate loan so the interest cant change but I still havent tried to figure it out.

Cost of replacement go up? I'd shop around again. $200 is big

What kind of breakdown can you guys give for a home that is 500k?

landlords are leeches on society and produce no value. they prevent a family from owning their own home and exist only to scam the poor. maybe if prices were 50x lower than owning a home, sure. because at least when you own a home, all payments are going towards something you own, as opposed to rent where that money just vanishes never to be seen again

My rent was $1150/m. Just went up $400. Breaking my lease and shopping around. This is BS.

kingdrake2 posted...

living with parents isn't so bad. helps them with rent mainly.

My parents own, so it would be totally free for me. I would be saving SO much money I think this is the last lease Im signing at this house. I cant justify paying $1700/month when theres no justification for raising the price other than everybody else is doing it.

When I leave this house, Im reporting it to the city, also. The roof needed to be fixed years ago. The gutters look like they were shot by a shotgun . All of the windows and doors are improperly sealed. The heating unit breaks down usually twice per year because its from the 1970s. These are tens of thousands of dollars worth of renovations and Im going to have the local government force the homeowner to pay it. Not because I want the next tenant to have a better house (I actually do), but to get back at the greedy fucks who have been charging me $1500-1700/month for five years.

Also, I would bet money that such an old and poorly maintained house has mold in the walls. The back door is a sliding glass door and the wood frame is rotting out. The metal track looks like someone beat it with a hammer and you can literally shake the handle outside and unlock it. You could effortlessly break in.

FLAMING EVIL HOMER posted...

Ive rented for like 8years here around different places and this is the highest jump between leases i have seen.

Inflation has also been at the highest level in decades.