Landlord increasing rent next year. Other renters experiencing this? (Chicago: cheap apartment, to buy)

[marothisu]

Originally Posted by Caldus

I haven't had a rent increase since I've moved into this apartment a few years ago. The landlord sends me an email telling me "how great of a tenant I am" and then proceeds to tell me that basically the rent is going up by $25 a month if I renew the lease. I guess the better tenant I am, the more I pay. Do other renters on here typically get rent increases every year? Just curious. I don't want to be an *** and tell this guy I'm moving unless the rent stays the same but I may just do that. Maybe it's time to buy a condo. Oh wait ... property taxes.

Depends on where you live. If you live in one of the areas with a lot of bars/restaurants like downtown, Lincoln Park, etc then you should expect that. $25/month is not bad at all.

[marothisu]

Originally Posted by NOLA101

Uh, I've never heard of a landlord who drops rent by the year. In every place I've lived, the rent goes up, not down, every year. Ever heard of inflation?

I actually got an $80/month drop in rent one year at my current building, though the following year it was raised, but still lower than it was two years prior. By the end of it though, somehow, i was paying $20/month less than when i first moved there. Then the building was sold to a non-family company and the rent was raised for everyone to even out with the market. The company/family who owned it before were incredibly nice, but I wouldn't call them great business people in lowering rent when the prices in my neighborhood were increasing.

[Caldus]

I get that his costs are probably rising too. I just know that if he had to he would rather charge me the same then find another tenant. Especially since I've always paid my rent early and don't ever cause any problems. I'm thinking about telling him that I'm not happy about the rent increase and that combined with the ongoing issues I'm having with the neighbor downstairs that I'll have to think about it.

[knitgirl]

$25 is nothing. He could probably get more from a new tenant.

[karen_in_nh_2012]

Originally Posted by Caldus

I haven't had a rent increase since I've moved into this apartment a few years ago. The landlord sends me an email telling me "how great of a tenant I am" and then proceeds to tell me that basically the rent is going up by $25 a month if I renew the lease. I guess the better tenant I am, the more I pay. Do other renters on here typically get rent increases every year? Just curious. I don't want to be an *** and tell this guy I'm moving unless the rent stays the same but I may just do that. Maybe it's time to buy a condo. Oh wait ... property taxes.

Originally Posted by Caldus

I get that his costs are probably rising too. I just know that if he had to he would rather charge me the same then find another tenant. Especially since I've always paid my rent early and don't ever cause any problems. I'm thinking about telling him that I'm not happy about the rent increase and that combined with the ongoing issues I'm having with the neighbor downstairs that I'll have to think about it.

Your rent is going up $25 a month -- $300 a year!! -- after several years of living in the same place at the same rate ... and you are COMPLAINING? Seriously?

I would bet it would cost you more than $300 to move, when you add up all the expenses.

You're being, well, a jerk.

[Serious Conversation]

Originally Posted by knitgirl

$25 is nothing. He could probably get more from a new tenant.

This. The $300 a year it is going up may not even cover the LL's increased costs. In many places, rents are going up much more in absolute terms and as a percentage of the rent.

[Freefall18]

Originally Posted by Caldus

I get that his costs are probably rising too. I just know that if he had to he would rather charge me the same then find another tenant. Especially since I've always paid my rent early and don't ever cause any problems. I'm thinking about telling him that I'm not happy about the rent increase and that combined with the ongoing issues I'm having with the neighbor downstairs that I'll have to think about it.

Lol, good luck buddy

[MannheimMadman]

Property taxes have gone up, especially if you're in a hot area. And, we're probably going to get boned next year too - so 'bend over, here they come.'

[via chicago]

How can you be upset about one measly $25/month increase after a "few years"? Has your salary not increased once in 5 years? Has the price of every other thing on the shelves not increased in 5 years?

Your landlord is being exceedingly reasonable.

and if the neighborhood has become more desirable, then they are going to match what the market can bear. If you want to lock in your rates, then buy a house.

Originally Posted by Caldus

I get that his costs are probably rising too. I just know that if he had to he would rather charge me the same then find another tenant. Especially since I've always paid my rent early and don't ever cause any problems. I'm thinking about telling him that I'm not happy about the rent increase and that combined with the ongoing issues I'm having with the neighbor downstairs that I'll have to think about it.

there are plenty of good tenants out there who pay rent on time and dont cause problems (kind of a bare minimum), many of whom will pay what they are asking. its not a charity, they have bills to pay like anyone else.

if youre truly not happy then move. be prepared to pay more than $300 to do so though. and be prepared to have a new landlord who may not be so generous as to only raise your rent once every 5 years.

[marothisu]

You're complaining about a $25 jump in rent...come on..and it doesn't matter if you were always on time. That's not grounds for your landlord making an exception about you and not raising rent.