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I agree it's a way to get more rent over a 12 month period the second year, if you stay. A 1/12 rent increase for the second year is automatic. It's doubtful to me that the economy will be much different 12 months for now, so then what do you do when you realize you are overpaying the second year?
I agree it's a way to get more rent over a 12 month period the second year, if you stay. A 1/12 rent increase for the second year is automatic. It's doubtful to me that the economy will be much different 12 months for now, so then what do you do when you realize you are overpaying the second year?
Moving can be expensive and inconvenient, that's the thinking behind it - you'll cut your losses and stick around at lease renewal time even if your rent will be slightly higher then the running move-in specials in the area.
Moving can be expensive and inconvenient, that's the thinking behind it - you'll cut your losses and stick around at lease renewal time even if your rent will be slightly higher then the running move-in specials in the area.
This is why I don't collect a lot of stuff. I could move for $200 using a couple guys and a van for an hour. After the hell of selling a house, moving from apartment to apartment is nothing.
Another reason is if the LL has more than one unit in the area, and one tenant is on government assistance, the LL has to justify their price by showing that that tenant isn't paying substantially more than the neighbors. We have to do this for each section 8 tenant. If they have given you a break on rent, it might be more difficult to get what the place next door is worth.
Its the same with builders who would rather give free upgrades than come off the price. It affects value on future sales, or in this case, future rents.
Plus, you could get the "My friend rents from you for only $800, why do you want to charge me $850?" effect, on someone you are giving a free move in month to, they then want both. Or 6 months down the road, if two tenants talk, you get one who is mad that their rent is more, forgetting that they got a free month at move in, then you have conflict there.
This is why I don't collect a lot of stuff. I could move for $200 using a couple guys and a van for an hour. After the hell of selling a house, moving from apartment to apartment is nothing.
Right you are, FelixTheCat, I learned that the hard way by having to pay over $200 a month in storage fees.
Right you are, FelixTheCat, I learned that the hard way by having to pay over $200 a month in storage fees.
Thanks for saying I'm right. You can apply the 80/20 rule. There's an 80/20 book I read that's pretty interesting in my opinion. 20% of your stuff you use 80% of the time and 80% of your stuff you use 20% of the time, therefore most people need far less stuff. It even comes down to shoes and carpet. Most people wear 20% of their shoes 80% of the time and 80% of their shoes 20% of the time. Carpeting is changed because 20% is worn out, so now you can buy carpet squares to replace worn out commercial carpet so you dont have to waste the 80% good carpet. I don't keep/buy a lot of junk yet my apartment is fairly empty, yet very functional.
By the way I have been paying $100 a month on storage fees for sentimental items such as a one of a kind antique bed frame and dresser. Sometimes logic does't matter.
Thanks for saying I'm right. You can apply the 80/20 rule. There's an 80/20 book I read that's pretty interesting in my opinion. 20% of your stuff you use 80% of the time and 80% of your stuff you use 20% of the time, therefore most people need far less stuff. It even comes down to shoes and carpet. Most people wear 20% of their shoes 80% of the time and 80% of their shoes 20% of the time. Carpeting is changed because 20% is worn out, so now you can buy carpet squares to replace worn out commercial carpet so you dont have to waste the 80% good carpet. I don't keep/buy a lot of junk yet my apartment is fairly empty, yet very functional.
By the way I have been paying $100 a month on storage fees for sentimental items such as a one of a kind antique bed frame and dresser. Sometimes logic does't matter.
I think that I read your thread on this topic on the frugality forum, am I right?
I thought of my storage thing right away while reading that.
I have grown to appreciate empty spaces.
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