How much of an increase in rent? (apartments, lease, tenant)

[hypocore]

For those who rent, how much has your rent increased when it has gone up and for those who own, how much do you usually increase the rent? In percentage, not dollars.

Please and thank you. :-)

[psychofan]

The rent for my 1BR/1BA apt in the DC metro area went up by 0.6% (i.e. from $1301 to $1309) for this year's renewal.

This is rare, most likely due to the poor economy, but the rent at my previous apts all increased by 2-3% each year.

[Sam82]

My rent is going up $0 this year. Last year, it went up by $30.

[virgode]

Went up $25.

[DaniellaG]

For me it has depended but I have heard that you can talk to the landlord or complex about working out a deal. I know my neighbor had been in the apt for 10 years and was paying 100 plus more a month then I was cause when I rented there were specials. Just not right to make a good long lasting tenant to keep having increasing when if he moved out and back in it would be way less.

[TouchOfWhimsy]

We've been here a year, and my landlord (a private landlord) has not mentioned an increase. I'm hoping that means that there won't be one! (We're actually paying under market value for this apartment... I don't know if it's because she does not know how much other 3 bedroom apartments are going for, or what, but I'm not about to bring that to her attention!)

[advent]

I got the deal of a lifetime when i signed my lease in april for $600 a month in one of the nicest neighborhoods in charlotte, NC.. the rent here is usually $800-1200 for a comparable place and i can walk to my job.. the owner told me that the property sat vacant for awhile at the price of $850 because of the economy and she just wanted to get somebody in the duplex so she reduced it 600.. Im just hoping she doesnt increase the price back to that by the time we need to renew.. i plan to live here as long as it says under 700..
is there a law against how much a landlord can increase rent in North Carolina?

[hypocore]

hmmm, I'm in a house not an apt, so I wonder if it makes much difference.

We've been here for 2 years without an increase, which of course is nice. However, we just got a certified letter stating they are raising the rent as of Aug 1 and it is about a 13% increase. Even if you divided it in half to cover not having an increase last year, that's 6.5% per year.

That's too much, in my opinion.

[Niftybergin]

Originally Posted by hypocore

For those who rent, how much has your rent increased when it has gone up and for those who own, how much do you usually increase the rent? In percentage, not dollars.

Please and thank you. :-)

I've lived in the same apartment for 48 months so far, and my current lease doesn't expire for another 16 months. In that time, my rent has gone up only 1.5%. I think I did that right. It went up $10.

The first year it was $669. A year later I renewed with a 2-year lease and kept it at $669. Last year, at the end of my 3rd year, it went up $10 to $679, and a couple months ago, in May, my landlord offered to keep my rent at $679 if I'd extend my least until October 2010. (They also gave me $100 off my rent for August when I extended my lease.)

I know for sure that I pay less than others who have my same apartment (size/floorplan). The girl who used to live above me moved out a few months ago. She was paying $750/month for an identical apartment. When her lease was up, they wanted to raise her rent. She asked them to lower it. They said no and she moved out. I'm not sure what the difference was between the two of us. Obviously I was here before she was, so my rent was less to begin with. And I knew I'd be here for a while, so I always renewed with the longest leases I could. But I was surprised that they weren't willing to work with her. A bird in the hand and all that. On the other hand, I don't know how she managed her lease responsibilities. Maybe she was late with rent or bounced checks or something like that.

[Timm]

Originally Posted by hypocore

For those who rent, how much has your rent increased when it has gone up and for those who own, how much do you usually increase the rent? In percentage, not dollars.

Please and thank you. :-)

The rent for the apartment I live in goes down from $815 to $765 in August. You'll have to work out the percentage yourself -- math is hard.

I've just begun letting the house I own in Michigan. If the tenant pays the rent on time every month and isn't a douche, I have no intention of raising the rent at all.