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Been in a house/townhome in OC, socal for four years. We keep house as if it was ours. High pride of ownership although we don't own. Treated place like a home, not just a place to live. Wife and I are both educated professionals, never been late with rent once, house is immaculate, basically dream tenants. Lease ended sept 30. There was no communication between us and property manager as we were intending on staying and were waiting on renewal. Same thing happened last year and they said oops we got busy and forgot to send the lease renewal which they eventually sent and we signed. We expected same thing this year except that on dec 4 we get 60 days notice because LL has sold their giant house (was told it wasnt even for sale and that someone out of the blue wanted to buy it) and wants to downsize and live in the little townhome we've been in for four years. Um ok so we start looking only to find out that there is nothing on the market because who moves during the holidays? Last weekend LL came in with tape measure and sized the place up for them to move in. Seemed like this was really going to happen.
Spent all day yesterday packing up the house and then get email from property manager saying that LL has magically found a new house to buy and that we don't have to move now. Hurray! Oh, and btw they're raising the rent by double the amount it went up last year. First increase was $50 a month, then $50 again after the second year, $75 last year and now they want $150 more a month for this next lease. Reason for increase - other places in our area are going for more than what we're paying and I'm sure they think they're helping us out by keeping us slightly under comp value at the expense of a big monthly increase. They've given us until feb 1 to sign new lease at higher rate.
Here's my question - if we don't sign the lease and just keep paying our current rent rate in full, how hard would it be to kick us out? We have perfect credit and I don't want to tarnish that but I don't want to rush into moving into some place new. We're long term tenants and we want a home, not just a place to live in. I don't think we're going to find a new comparable place by feb 1. As long as we keep paying rent at the current rate they don't have much of an argument against us to kick us out do they? I pay rent by going to property managers bank and depositing a check directly into their acct. I have their routing and acct number. Can they block my deposit?
We love the place we're in but I can't stand greedy LLs who don't value good long term tenants and just want to gouge us on rent. They've done nothing to improve the property in four years but the rent has increased by $175 since we moved in in 2009 and now they want $150 more. That's a $325 per month increase for a place that's been the same for four years! Shame on them! I could try to negotiate something with them to either decrease the rent increase some or maybe do a 3 year lease instead of one year but part of me wants to tell them to F off purely on principle. I know, I know... If I don't like it then leave but it's hard to leave the perfect place to live. Just wish LL wasn't an a-hole.
If you want to stay in this home, sign the lease and pay the new rental rate. If you don't want to stay in this home, then get prepared to move by the end of January.
Whatever you decide, stay or go, make sure you let the property manager know (in writing) what you're doing. If you dont' sign the lease and stay after the deadline, they will formally evict you from the home.
Your landlord isn't being greedy, rents are going up everywhere. Your landlord doesn't have to tell you that his home is on the market, but he does have to give proper notice to show it to buyers and you have to let have access to do so. Your landlord isn't an a hole, he's running a business, not a charity.
I would assume as "educated professionals" that you will not want an eviction on your record. Stop acting like a spoiled child, either sign the lease and stay, or find something else and move. I dont know of any place where the rent has stayed the same for 4 years, especially now with so many more people needing to rent. You yourself say its the "perfect place". You say you can't find something comparable by Feb. 1...thats 6 weeks away! If you cant find anything comparable in that time, then there isnt anything comparable. In which case the rent is where it should be.
Or go buy something, and your payment will stay the same. Amazing how entitled people are nowadays about property that isnt even theirs.
If you are month-to-month landlord can raise the rent with 30 day notice and you don't even have to sign a new lease. So if you want to stay month-to-month because you want to buy a home, then talk with property manager about staying month to month, but with new rent increase. You aren't going to find a legal way out of the new rent increase. You might be able to stay month to month if landlord allows but with new rent amount. Otherwise your other choice is to sign a lease or move.
If you have to sign a lease but think you might purchase a home in summer, then make sure there is a Early Termination Fee that is spelled out in the lease. This way you can pay the fee for breaking the lease. You really want this in the lease if you are considering buying during the lease period.
You mentioned rent is still below market rent, so you are still better off staying and paying the new rent. Because if you move to a new rental, you are going to be paying more anyway. Rents increase and decrease based on comparable rentals in the area. They don't have any set amt of increase/decrease each year. It's all based on comps - just like with home sales. Homes prices don't change at the same rate each year. Some years it is 2 percent change and other years 8 percent change.
Here's my question - if we don't sign the lease and just keep paying our current rent rate in full, how hard would it be to kick us out? We have perfect credit and I don't want to tarnish that but I don't want to rush into moving into some place new. We're long term tenants and we want a home, not just a place to live in. I don't think we're going to find a new comparable place by feb 1. As long as we keep paying rent at the current rate they don't have much of an argument against us to kick us out do they? I pay rent by going to property managers bank and depositing a check directly into their acct. I have their routing and acct number. Can they block my deposit?
Come on now. You don't really think it works this way, do you? First, read your current lease. It may say exactly what happens if you don't renew. Second, if it does expire and nothing happens you are now on a month to month lease. Depending on your state rules they most likely only have to give 30 or 60 days notice. That is pretty much it. You can't just keep paying and stay if they don't want you to.
Reason for increase - other places in our area are going for more than what we're paying and I'm sure they think they're helping us out by keeping us slightly under comp value at the expense of a big monthly increase.
We love the place we're in but I can't stand greedy LLs who don't value good long term tenants and just want to gouge us on rent.
Been in a house/townhome in OC, socal for four years. We keep house as if it was ours. High pride of ownership although we don't own. Treated place like a home, not just a place to live. Wife and I are both educated professionals, never been late with rent once, house is immaculate, basically dream tenants. Lease ended sept 30. There was no communication between us and property manager as we were intending on staying and were waiting on renewal. Same thing happened last year and they said oops we got busy and forgot to send the lease renewal which they eventually sent and we signed. We expected same thing this year except that on dec 4 we get 60 days notice because LL has sold their giant house (was told it wasnt even for sale and that someone out of the blue wanted to buy it) and wants to downsize and live in the little townhome we've been in for four years. Um ok so we start looking only to find out that there is nothing on the market because who moves during the holidays? Last weekend LL came in with tape measure and sized the place up for them to move in. Seemed like this was really going to happen.
Spent all day yesterday packing up the house and then get email from property manager saying that LL has magically found a new house to buy and that we don't have to move now. Hurray! Oh, and btw they're raising the rent by double the amount it went up last year. First increase was $50 a month, then $50 again after the second year, $75 last year and now they want $150 more a month for this next lease. Reason for increase - other places in our area are going for more than what we're paying and I'm sure they think they're helping us out by keeping us slightly under comp value at the expense of a big monthly increase. They've given us until feb 1 to sign new lease at higher rate.
Here's my question - if we don't sign the lease and just keep paying our current rent rate in full, how hard would it be to kick us out? We have perfect credit and I don't want to tarnish that but I don't want to rush into moving into some place new. We're long term tenants and we want a home, not just a place to live in. I don't think we're going to find a new comparable place by feb 1. As long as we keep paying rent at the current rate they don't have much of an argument against us to kick us out do they? I pay rent by going to property managers bank and depositing a check directly into their acct. I have their routing and acct number. Can they block my deposit?
We love the place we're in but I can't stand greedy LLs who don't value good long term tenants and just want to gouge us on rent. They've done nothing to improve the property in four years but the rent has increased by $175 since we moved in in 2009 and now they want $150 more. That's a $325 per month increase for a place that's been the same for four years! Shame on them! I could try to negotiate something with them to either decrease the rent increase some or maybe do a 3 year lease instead of one year but part of me wants to tell them to F off purely on principle. I know, I know... If I don't like it then leave but it's hard to leave the perfect place to live. Just wish LL wasn't an a-hole.
Please let me know what you guys think. Thanks.
First of all if there is nothing wrong with the house there is no reason for the LL to do any improvements.
Second if he is keeping your rent below going rate he IS doing you a favor. He is not being greedy as you put it. Rents go up. I don't do yearly raises on my rentals but eventually I will raise the rent. Most LL raise the rent yearly.
If you want a surefire way of no rent increase buy a house.
What area are you in and what is your rent. If you're in a trendy area where there is a demand then expect to pay more.
No you can't hold the house hostage by paying rent and not moving.
Been in a house/townhome in OC, socal for four years. We keep house as if it was ours. High pride of ownership although we don't own. Treated place like a home, not just a place to live. Wife and I are both educated professionals, never been late with rent once, house is immaculate, basically dream tenants. Lease ended sept 30. There was no communication between us and property manager as we were intending on staying and were waiting on renewal. Same thing happened last year and they said oops we got busy and forgot to send the lease renewal which they eventually sent and we signed. We expected same thing this year except that on dec 4 we get 60 days notice because LL has sold their giant house (was told it wasnt even for sale and that someone out of the blue wanted to buy it) and wants to downsize and live in the little townhome we've been in for four years. Um ok so we start looking only to find out that there is nothing on the market because who moves during the holidays? Last weekend LL came in with tape measure and sized the place up for them to move in. Seemed like this was really going to happen.
Spent all day yesterday packing up the house and then get email from property manager saying that LL has magically found a new house to buy and that we don't have to move now. Hurray! Oh, and btw they're raising the rent by double the amount it went up last year. First increase was $50 a month, then $50 again after the second year, $75 last year and now they want $150 more a month for this next lease. Reason for increase - other places in our area are going for more than what we're paying and I'm sure they think they're helping us out by keeping us slightly under comp value at the expense of a big monthly increase. They've given us until feb 1 to sign new lease at higher rate.
Here's my question - if we don't sign the lease and just keep paying our current rent rate in full, how hard would it be to kick us out? We have perfect credit and I don't want to tarnish that but I don't want to rush into moving into some place new. We're long term tenants and we want a home, not just a place to live in. I don't think we're going to find a new comparable place by feb 1. As long as we keep paying rent at the current rate they don't have much of an argument against us to kick us out do they? I pay rent by going to property managers bank and depositing a check directly into their acct. I have their routing and acct number. Can they block my deposit?
We love the place we're in but I can't stand greedy LLs who don't value good long term tenants and just want to gouge us on rent. They've done nothing to improve the property in four years but the rent has increased by $175 since we moved in in 2009 and now they want $150 more. That's a $325 per month increase for a place that's been the same for four years! Shame on them! I could try to negotiate something with them to either decrease the rent increase some or maybe do a 3 year lease instead of one year but part of me wants to tell them to F off purely on principle. I know, I know... If I don't like it then leave but it's hard to leave the perfect place to live. Just wish LL wasn't an a-hole.
Please let me know what you guys think. Thanks.
As a landlord and a tenant, I feel torn by your dilemma but it is the landlord's prerogative to raise the rate. It is a business. As a professional, I am sure that you want to be paid what you are worth. The landlord wants to do the same. If you love it, others will love it too. Are you sure that you are willing to give that up for principal? You should think it through. Good luck.
As has already been mentioned, the landlord is running a business, not a charity. Pay to play, or move. It really is as simple as that.
It wouldn't surprise me in the least bit that the landlord is not pocketing a single penny, and any and all increases are going to higher-taxes, city fees, licenses, and other costs that the city demands from landlords, who in turn pass on the savings to the tenants.
Just to give you an idea, my operating costs have gone up roughly $700 per apartment, per year, just from the city. You can bet my tenants are going to be paying $50 more for rent, per month.
Thanks for the input everyone. Yes, I do feel a bit entitled. I thought LLs valued long term tenants and would rather have someone in their property paying a steady rent versus having it be empty. This latest gouge tells me they do not. I myself am a business owner having recently started my business which I have invested a lot of money into know that if I charge too much for my service customers will go elsewhere. I also am a LL myself and own property in another state and have always held my rental rates for my longer term tenants (military town so "long term" is relative). I guess my LL and I have fundamentally different philosophical views on this type of thing.
Not in a position to buy a house. Southern California is insane and I will never own here. Regarding comps, I guess I should be more clear. Other places in area that they are comping to have more bedrooms, are single level (ours is two story), have gardener included (we do all yard maintainence), have nicer cabinets and appliances, etc. The other places that are going for more are doing so because they are legitimately worth more while our place is not. So, let me rephrase my original statement - they think they're doing us a favor by keeping the rent $100 below "comp" value when places they're comping too are bigger and nicer. The places they're comping to are in our same community so I know exactly what they're looking at down to specific addresses. I understand business but I don't appreciate greed.
Another clue as to how our LL operates is after we had already renewed last year they wanted to do a walk through which isn't required in our lease until we give notice that we're leaving but we decided to play nice. They do walk through and then decide they don't like my truck being parked outside and to move it into garage. I already had garage at full capacity (non op classic car and two motorcycles - all within hoa regs) so there was no room. I said I refused and they said they'd break the lease although we had already resigned. I wound up having to move my non-op car to storage in order to put my truck in the garage and now I'm paying $150 a month for storage. Mind you nothing in the lease or hoa regs required this - they just didn't like how my truck looked in the driveway. Btw we love our neighbors and they love us (they all hate our LL) and no one ever complained about the truck.
So, yes they are a-holes and I don't like being bled dry and f'd with so I do feel like leaving just to not have to deal with them. No, I'm fearful I won't find a comp because there's nothing on the market at all right now so their 60 day notice is going to effectively give us 30 days because there's next to nothing available now. I'm not saying I won't find comparable place ever - I'm saying im not going to find one during this time of year which we haven't. I want to hold over at least another 30 days to buy myself sometime to either find new place or try to negotiate a batter deal.
Anyways, thanks again for the input no matter how harsh.
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