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It all depends... many areas in CA have rent control which limits how much rent and increase and under what circumstances...
When I managed property for others it was the policy to always increase the rent... the only question was how much... even if it went up $5... the point was to condition people to expect an increase and costs continue to rise...
I was just looking at one of my leases and I'm still charging the same rent as I did back in 2002... 7 years and no increase.
Great family, take care of the place and rent is always ready on the First...
Some inner city locations are such that a tenant can make or break you... or just cause lots of aggravation and wasted time...
I try to remember that each day a unit is vacant is lost money and turn overs are costly...
As a LL I have raised the rent many times but never when they still lived in the home, so it was just between one tenant and a new tenant that I raised it. This year I raised the rent for several single fam. homes with $ 55.- which is aproxx. 15%. I could have rented them out at least 10 times if I had more, due to a great location and demand.
Once I announced that I would raise it with this amount since they were bad payers and I already had 2 NSF and they got the message they ask me to lower the rent by $ 200.- and I denied and they left and I rented it out for $ 55.- more...
I agree when you look for a place to move that if you rent during a harder season to occupy you get a better rate. I know in MI winter was like that. I also think that 2 months or so before the end of the lease term you are contacted on if there will be an increase in rent and if you can negotiate which I never thought of. Often I feel landlords know people don't want to go to the expense of moving so they may be able to get more. It can be hassle though for them too if they have a good tenant and because of higher rent they move and then the landlord may have it vacant,has to go in and repaint,etc and who knows what the next tenant would be like.
^Oh, you can definitely negotiate. Our lease was coming up and the complex sent us a letter offering $795. We checked Craigslist ads and saw that they were running a special for $765 and asked for that rate. They gave it to us.
Our increase amounts to $120.00/month. That's almost $1500 more for the year! There are plenty of houses in the near area that are renting for less than what we currently pay, before the increase....so we are looking.
i live in the san Fernando Valley in California, we are rent control area. I need to know what is the % increase for this year. Thank You.
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