Always Yearly Rent Increase if rent from corporation) in ALL of the U.S.?

[Sundaydrive00]

Originally Posted by Lacerta

I lived in an apartment complex that was owned by a huge corporation for 3 years. In that 3 years, my rent was never increased. Of course, my rent was always paid on time, and I only called maintenance once in those 3 years, when the unit above me flooded.

Same here. We lived in a corporate owned apartment complex for a little over 3 years, and our rent never increased. Then we moved into a small 4 unit building owned by a private landlord, and our rent went up $10 each year.

We called maintenance a number of times at both places, so I don't see that as a reason why our rent was or was not increased.

[Jbeechuk]

Originally Posted by Forever Blue

I'm on year 3 of renting my apt from a corporation (NOT a private landlord). Do ALL apt complexes that are owned by corporations automatically increase yearly for everyone, meaning unless you can afford it, you will eventually be forced to move out due to no longer being able to afford it?

What's a renter to do then? I guess no one can live in an apt for too long then unless they got a financial windfall to be able to keep affording the increase. Mine increases about $100/year.

$100/year? That's nothing. It's $8 extra a month.

[Forever Blue]

OP back. Thanks so far guys.

Originally Posted by Jbeechuk

$100/year? That's nothing. It's $8 extra a month.

No, I mean $100 was the increase every year to pay EVERY MONTH for that next year. Didn't mean to be confusing.

Meaning...

EVERY month from 6/12 - 6/13, I paid $1190, then...

EVERY month from 6/13 - 6/14, I paid $1295, then...

EVERY month from 6/14 - 6/15, I'm paying $1407.

[Electrician4you]

Originally Posted by te3t

That makes sense to raise the rent if a lot of people moved out during the year but I can say I know of only one person who moved out in 2015 so that could work in my favor.

Depends on the management. They do a analysis and see what the rents are in a X mile radius. They figure around 3-4% loss since most tenants can't won't or don't have the time, funds or ability to move that fast. (Take your pick of a combo as to why)