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I have been lurking on various forums here at city data but his is my first post. I am looking for some thoughts and feedback on my situation.
I live in an expensive area and I currently rent a house. I have been living in my current place for about a year. I found the place after much searching and although I really liked the house , I compromised on the neighborhood. I dont shop there, hang out there or even like being there. If it were not for the house, I would never go there. I never have been and continue to be "not thrilled" about the neighborhood. Over the year that I have lived there I realized that the neighborhood is liveable and I have not had any actual problems there- but I still dont really care for it.
After moving in I realized my landlord, who lives nearby, is kind of a busybody. Not in an overt way but in little ways, over time, that bug me. He built the house and is very proud of it but is a little too attached to it, I think. (I get his interest in 'protecting' his property and investment but I also think he needs to learn to leave people in peace.) He is perfectly nice and responsive if there are any issues but also nitpicky. And a little hyper-vigilant. Also, there is a storage unit on the property of the house I rent that is accessed through the backyard. Before I rented he said he kept a classic car there and would only need to access the storage unit about 2x per year. After I moved in i find out that access is 4-5x per month because he stores other stuff there too, like tools. It doesnt really impact me but it does prevent me from putting a lock on the fence to the backyard as I planned to do when I first moved in. So now I am not 100% comfortable with the back yard situation because anyone else could walk in and access it at any time since it is unlocked. Has this happened? No. Could it? I would not rule it out- see above concerns about the neighborhood.
I also thought the house was overpriced for the neighborhood when I moved in but since it was a really nice house, I moved in. Now, after paying rent on time( and sometimes early) for a year, he is increasing my rent by 3.5%. I dont get the basis for the increase but he is entitled but I am also entitled to move. I can afford it but it annoyed me. When I added the increase to all of the other little things that bugged me, plus the fact that the house is overpriced for the neighborhood anyway, I decided to look for another rental.
So after much looking, I found another house that is VERY similar to my current house, is in a better neighborhood, the landlord seems less "involved" and the landlord wont be storing anything on the property. The downside is that the house is older that my current house, has fewer designer finishes ( which I can learn to live without but they ARE nice to have , and is 3.5% more than my current ( increased) rental. So I would go up in price but I would get peace of mind.
My questions are:
1. Is it unreasonable to have expected my rent to remain static in this economic environment? Am I making too much of the rent increase?
2. I have gotten used to the neighborhood but I still dont like it. And nothing (really) bad has happened to me there. Is it better to be in a high end house in a less desireable neighborhood or a more modest ( less fancy), less updated house in a better neighborhood? ( I am really going to miss the roll-out pantry shelves and the double head shower !).
3. It will cost me to move. Moving costs, cleaning costs for the old house, new security deposit, etc. My outside estimate is $1500. That is more than the 3.5% increase but ( in my mind) going to a better cause. Moving is also a pain in the neck and my life will be disrupted for a few months until I get settled. Maybe I am just being petty and I should just suck up the increase.
4. Back to the rent increase- although it is minor, it bugs me. Why would he even do it? As I am writing this, I guess it is the principle that bothers me. I dont think it will be easy for the landlord to find another tenant like me. I am professional and work so I am not in the house for most of the day, I dont have children destroying it, I am quiet, I dont have parties. I maintain the house in good condition and I can afford the overpriced rent. The landlord has even said how much he likes having me for a tenant. Even if he rescinded the increase now , I will still be bugged. Why would you do something to make that good tenant move? (As an aside, if the rent had increased after 2 yrs, I would have been okay with it but after one year- it just seems greedy)
I am looking for input, casual opinions whatever. I really dont have anyone else to bounce this off of other than random people I meet on the internet.
I have been lurking on various forums here at city data but his is my first post. I am looking for some thoughts and feedback on my situation.
I live in an expensive area and I currently rent a house. I have been living in my current place for about a year. I found the place after much searching and although I really liked the house , I compromised on the neighborhood. I dont shop there, hang out there or even like being there. If it were not for the house, I would never go there. I never have been and continue to be "not thrilled" about the neighborhood. Over the year that I have lived there I realized that the neighborhood is liveable and I have not had any actual problems there- but I still dont really care for it.
After moving in I realized my landlord, who lives nearby, is kind of a busybody. Not in an overt way but in little ways, over time, that bug me. He built the house and is very proud of it but is a little too attached to it, I think. (I get his interest in 'protecting' his property and investment but I also think he needs to learn to leave people in peace.) He is perfectly nice and responsive if there are any issues but also nitpicky. And a little hyper-vigilant. Also, there is a storage unit on the property of the house I rent that is accessed through the backyard. Before I rented he said he kept a classic car there and would only need to access the storage unit about 2x per year. After I moved in i find out that access is 4-5x per month because he stores other stuff there too, like tools. It doesnt really impact me but it does prevent me from putting a lock on the fence to the backyard as I planned to do when I first moved in. So now I am not 100% comfortable with the back yard situation because anyone else could walk in and access it at any time since it is unlocked. Has this happened? No. Could it? I would not rule it out- see above concerns about the neighborhood.
I also thought the house was overpriced for the neighborhood when I moved in but since it was a really nice house, I moved in. Now, after paying rent on time( and sometimes early) for a year, he is increasing my rent by 3.5%. I dont get the basis for the increase but he is entitled but I am also entitled to move. I can afford it but it annoyed me. When I added the increase to all of the other little things that bugged me, plus the fact that the house is overpriced for the neighborhood anyway, I decided to look for another rental.
So after much looking, I found another house that is VERY similar to my current house, is in a better neighborhood, the landlord seems less "involved" and the landlord wont be storing anything on the property. The downside is that the house is older that my current house, has fewer designer finishes ( which I can learn to live without but they ARE nice to have , and is 3.5% more than my current ( increased) rental. So I would go up in price but I would get peace of mind.
My questions are:
1. Is it unreasonable to have expected my rent to remain static in this economic environment? Am I making too much of the rent increase?
2. I have gotten used to the neighborhood but I still dont like it. And nothing (really) bad has happened to me there. Is it better to be in a high end house in a less desireable neighborhood or a more modest ( less fancy), less updated house in a better neighborhood? ( I am really going to miss the roll-out pantry shelves and the double head shower !).
3. It will cost me to move. Moving costs, cleaning costs for the old house, new security deposit, etc. My outside estimate is $1500. That is more than the 3.5% increase but ( in my mind) going to a better cause. Moving is also a pain in the neck and my life will be disrupted for a few months until I get settled. Maybe I am just being petty and I should just suck up the increase.
4. Back to the rent increase- although it is minor, it bugs me. Why would he even do it? As I am writing this, I guess it is the principle that bothers me. I dont think it will be easy for the landlord to find another tenant like me. I am professional and work so I am not in the house for most of the day, I dont have children destroying it, I am quiet, I dont have parties. I maintain the house in good condition and I can afford the overpriced rent. The landlord has even said how much he likes having me for a tenant. Even if he rescinded the increase now , I will still be bugged. Why would you do something to make that good tenant move? (As an aside, if the rent had increased after 2 yrs, I would have been okay with it but after one year- it just seems greedy)
I am looking for input, casual opinions whatever. I really dont have anyone else to bounce this off of other than random people I meet on the internet.
Thanks in advance.
Are you calculating the security deposit in your moving costs? It is not really a cost since the landlord it is your money but the landlord is holding it for the duration of your lease.
As to whether to move or not, I can't say. It really depends on how much of an effect the neighborhood has on your quality of life. Is there a lack of convenience or just nothing to do. Since you say your landlord and you have a reasonable good relationship, don't take the increase personally. If your landlord was a jerk that would be a very good reason to move because the landlord can have a very large negative impact on your quality of life. I would evaluate this one strictly by the numbers.
I'm in a similiar position(but no rent increase, but great landlord, unlike yours I can't find anything bad to say about mine) and I want to move to a new neighborhood. If I were presented with the same numbers in your scenario I would probably move. But I sense you have an apathetic view on your neighborhood, I would say mine is more negative.
I would be tempted to keep looking, its hard to swallow moving for a rent increase, but if you like the other neighborhood enough I would do it.
Another factor to consider: if you are only going to your neighborhood to live and spend your free time in other neighborhoods, are you costing yourself additional gas, parking, taxi fares, etc.? Might want to see if those make a difference.
Last edited by OrangeCoriander; 01-11-2011 at 11:05 AM..
Something else to consider: How much longer do you expect to consider renting whether if it's in this current house or the new rental house? If only 1-2 years, maybe it's not worth moving now & again in such a short time span. If you have no intention of moving again, if you like the next rental for several years, than go with the peace of mind & someplace where you'll feel like & enjoy coming "home".
Thanks for the feedback.
No, I did not include the security deposit in the moving cost estimate. I am just acknowleging that I will have to pay another one before I have received the security deposit from my current rental.
You all make some good points about the commuting and driving. The constant driving to everyplace I'd like to go is one of the things that annoys me about my current location. It is convenient to a large shopping area but ascetically very unattractive. It is bordered by large thoroughfares and commerical districts so not very walkable. In the immediate area there are lots of fast food places, auto supply chain stores, used car lots and miscellaneous uninteresting small businesses. I dont find myself a patron of any of these establishments. There is an medium sized ethnic grocery store about 5 blocks away and a national grocery chain store about 10 blocks away. These are the only places in the neighborhood where I shop and only occassionally and only when I am en route home from someplace else. If I have to do any planned grocery shopping, I go to another neighborhood about a 15 minute drive away. I even avoid the post office in that neighborhood and find myself driving 20 minutes away to go to another one.
My landlord is NOT a jerk. He is actually a pleasant enough guy.
My lease has rolled over to a month to month and I already told my landlord that I am looking for a new place and would probably stay only until I find another. Overall, I hope to rent only for 1-2 more years and then I'll either purchase or leave this godforsaken city all together.
Its funny- I love coming "home" - to the house. I loathe the drive to the neighborhood to get there!
The part about the Landlord being proud of the building he built is a two way street... The Forums have numerous postings from Tenants that say their Landlords could care less about the property and the only time they see them is if the rent is late...
As to Rent Increase... I assume their is no rent control in your area? If not, the Landlord is free to request an increase... even if it proves costly to him in lost rent and getting the place ready for a new renter...
As rent increases are important to you... the next time it would pay to negotiate a longer lease or rent escalation provisions... I know what the rent will be on some of my commercial properties going out 15 and 20 years... so no surprises for either party.
You are the final decider... the Landlord made an offer that you are fee to accept of reject.
Location: When you take flak it means you are on target
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Consider my costs as a LL. Just since the 1st. Water up by appx $10 unit. Fighting a tax increase of $850 in this market! Electric up 30% last year. Then add all the costs of businesd a 30% workers comp increase in CA. Its just nuts. LLs are soon to be an endangered species.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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In the course of my job I deal with commercial lease, not residential, but when it comes to rent increases it's the same. Few owners are going to keep the rent the same for long. Even a 5 year lease will increase every
year, though less than on 5 one year leases. We have 20-30 year leases with built in increases based on the Consumer Price Index (CPI) which some years are very small, other years more.
Despite the poor economy the landlords costs are going up, especially taxes, and any utilities they pay. Also the cost of repairs, insurance,
bookkeeping, and if living of his rentals, his personal expenses are going up.
With residential (a lot more than commercial) the bad economy is actually inflating rents, as people lose their purchased homes and others postpone buying, good rentals are harder to find so the prices go up.
In the course of my job I deal with commercial lease, not residential, but when it comes to rent increases it's the same. Few owners are going to keep the rent the same for long. Even a 5 year lease will increase every
year, though less than on 5 one year leases. We have 20-30 year leases with built in increases based on the Consumer Price Index (CPI) which some years are very small, other years more.
Despite the poor economy the landlords costs are going up, especially taxes, and any utilities they pay. Also the cost of repairs, insurance,
bookkeeping, and if living of his rentals, his personal expenses are going up.
With residential (a lot more than commercial) the bad economy is actually inflating rents, as people lose their purchased homes and others postpone buying, good rentals are harder to find so the prices go up.
Your last point is a myth I think a landlord made up when he was desperate for renters .
Rents have been declining in general for the last couple of years. Of course landlords will want to raise their rents because they want to make more money. The fact that their costs have gone up does not mean market rents have gone up.
Last edited by jdm2008; 01-14-2011 at 03:49 AM..
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, and is 3.5% more than my current ( increased) rental. So I would go up in price but I would get peace of mind.
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