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Old 01-01-2014, 09:52 AM
 
Location: South Florida
5,023 posts, read 7,452,988 times
Reputation: 5476

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I recently moved into your average apartment community in Delray.

My lease states that at the end of the year lease, it will automatically go month to month and my rent will increase $500/month (which will be about a 40% increase).

It's been years since I lived in a rental community.

Is this how it is everywhere?

It seems insane to me, but I guess with all the people moving to Florida, landlords are going to go for as much rent as they can.

I'm bummed in that I was hoping to stay put for a few years.

Happy New Year!
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Old 01-01-2014, 10:51 AM
 
Location: Inland Levy County, FL
8,806 posts, read 6,112,361 times
Reputation: 2949
Quote:
Originally Posted by cfbs2691 View Post
I recently moved into your average apartment community in Delray.

My lease states that at the end of the year lease, it will automatically go month to month and my rent will increase $500/month (which will be about a 40% increase).

It's been years since I lived in a rental community.

Is this how it is everywhere?

It seems insane to me, but I guess with all the people moving to Florida, landlords are going to go for as much rent as they can.

I'm bummed in that I was hoping to stay put for a few years.

Happy New Year!
It IS insane! I've never heard of that at all. People are always moving to FL, we have an aging population to be honest, not sure about Delray specifically but overall, there are a lot of retirees here. But that is nothing new. Rent will only successfully be what the market will bear in that area. I hope you're not stuck in that place or that you at least have the means to stay for a bit till you can find something else. At least it is month to month and you only have to give like 60 days' notice (or whatever your lease states). But to answer the question, that is NOT the norm here!
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Old 01-01-2014, 10:52 AM
 
27,224 posts, read 43,942,133 times
Reputation: 32316
Quote:
Originally Posted by cfbs2691 View Post
I recently moved into your average apartment community in Delray.

My lease states that at the end of the year lease, it will automatically go month to month and my rent will increase $500/month (which will be about a 40% increase).

It's been years since I lived in a rental community.

Is this how it is everywhere?

It seems insane to me, but I guess with all the people moving to Florida, landlords are going to go for as much rent as they can.

I'm bummed in that I was hoping to stay put for a few years.

Happy New Year!
Maybe I'm wrong but I think it means that IF you don't re-sign another year's lease you'll see that increase which is fairly common. Otherwise if you plan to stay I wouldn't necessarily sweat it.
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Old 01-01-2014, 10:57 AM
 
Location: South Florida
5,023 posts, read 7,452,988 times
Reputation: 5476
Quote:
Originally Posted by kyle19125 View Post
Maybe I'm wrong but I think it means that IF you don't re-sign another year's lease you'll see that increase which is fairly common. Otherwise if you plan to stay I wouldn't necessarily sweat it.

I so hope you're right!
Thanks!
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Old 01-01-2014, 11:04 AM
 
Location: Inland Levy County, FL
8,806 posts, read 6,112,361 times
Reputation: 2949
Quote:
Originally Posted by kyle19125 View Post
Maybe I'm wrong but I think it means that IF you don't re-sign another year's lease you'll see that increase which is fairly common. Otherwise if you plan to stay I wouldn't necessarily sweat it.
Yeah, this makes more sense. Ask your landlord to be sure.
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Old 01-01-2014, 11:44 AM
 
Location: Spring Hill Florida
12,135 posts, read 16,138,172 times
Reputation: 6086
Its been a long time, but when we rented we had the same thing. If we went month to month after the lease ended it would have resulted in a much higher monthly rent. However, if we signed a lease it was a minimal increase. We opted to buy a house instead. Landlords prefer to have a leased apartment rather than a month to month apartment.
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