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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 05-12-2008, 06:37 AM
 
Location: Metro Washington DC
15,427 posts, read 25,801,824 times
Reputation: 10450

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I lived in Beltsville, MD for 6 years and my rent increase was not yearly. I would get an increase every 2 years or so. That's one reason we stayed there so long despite the bug infested building. Evntually we tired of the bugs. That was a 2BR, 1 BA Garden apt.
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Old 05-18-2008, 12:08 PM
 
32 posts, read 96,287 times
Reputation: 28
My cousin lived in a high-rise in downtown Silver Spring where she had been living for about 13 years. When she moved in, their rent was $700/month.
When she left her ren was $1400/month.

She moved because her rent was increasing to $2300!!!
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Old 05-18-2008, 08:21 PM
 
1,463 posts, read 6,220,555 times
Reputation: 941
You have to negotiate with the management but yeah they do it all the time...its because of the foreclosure mess..more supply for apartments/renters...
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Old 05-18-2008, 08:43 PM
 
1,117 posts, read 2,038,233 times
Reputation: 680
Heh. I wonder...is it the Enclave? I used to live there. I had to get the housing authority involved in breaking our lease to get out ASAP because management was running amok. They have a 25% approval rate on a ratings-based site.

I recommend putting a call in to ask some questions with the housing authority for Montgomery County. They are very helpful.
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Old 05-20-2008, 11:10 AM
 
43 posts, read 172,629 times
Reputation: 14
I would stop renting and buy a house. Now is the time.....we pay 2100.00 per month on a 369,000 mortgage. Why rent?
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Old 05-23-2008, 05:22 PM
 
1 posts, read 4,209 times
Reputation: 10
Cool High Rent

Since you found out that the recomended increase in Montgomery County is 3.1%, you probably found the landlord-tenant handbook. It clearly states that you must receive notice of increase 60 days in advance - not 30. You also have the right to ask the Montgomery County Deparment of Housing and Community Affairs to review any increase deemed by you to be too excessive. Hope this helps.
[FONT=Times New Roman][/FONT]
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Old 05-27-2008, 08:25 AM
 
1,624 posts, read 4,868,372 times
Reputation: 1308
The increased rent situation in Silver Spring is directly related to some City Council proposals to institute some sort of rent control or stabilization in the area. I believe the landlords are increasing the prices dramatically because they want have the highest possible base rent before any rent control kicks in.

Last edited by slim04; 05-27-2008 at 09:43 AM..
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Old 05-27-2008, 11:09 AM
 
250 posts, read 1,377,628 times
Reputation: 148
Quote:
Originally Posted by manofsteel084 View Post
I would stop renting and buy a house. Now is the time.....we pay 2100.00 per month on a 369,000 mortgage. Why rent?
You're right, buying makes a lot of sense right now, but you've got to bear in mind that qualification requirements are VERY tight. You can't get a decent loan with less than a 660 credit score, and your DTI ratio needs to be sitting as low as possible. 43% doesn't cut it these days.

Also, with all the foreclosures, odds are people CAN'T QUALIFY if they've got a foreclosure/short sale on their record from the last 36 months.
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Old 05-27-2008, 10:57 PM
 
10 posts, read 33,833 times
Reputation: 12
The high cost of renting has me considering first time homeownership however once I factor in all the other expenses that come along with homeownership (HOA fees, property taxes, homeowner's insurance, unexpected repairs, etc) renting is still cheaper.

I would love to own a home in Montgomery County but right now it's still too expensive.
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Old 05-28-2008, 08:47 AM
 
250 posts, read 1,377,628 times
Reputation: 148
Quote:
Originally Posted by Mont. Co. Princess View Post
The high cost of renting has me considering first time homeownership however once I factor in all the other expenses that come along with homeownership (HOA fees, property taxes, homeowner's insurance, unexpected repairs, etc) renting is still cheaper.

I would love to own a home in Montgomery County but right now it's still too expensive.
Have you factored in the tax incentives for owning rather than renting?
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