Tenants With Lease Renewals Approaching: What Are Your LLs Doing For You During These Covid Times? (renter's insurance, period)
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I have moved into my new apartment and am settling in nicely.
I checked out my old apartment complex website and see that my old unit is still available to move in (I guess not a shocker as I moved out only last week). And at a rate of $1,733 (so less than $30 a month more than what I was paying under the old lease) for a 12 month lease, and $1,560 for a 13 month lease. Had a similar 13 month lease option been offered to me, I would have almost certainly stayed in the unit; hell, if they made a modest increase on a 12 month lease, I likely would have stayed.
Instead, I got quoted an insane percentage increase and now the apartment sits empty. And the management company has to spend money to not only advertise the unit but to thoroughly clean the unit in between occupants (a necessity generally, but especially during these covid times).
I honestly think my old LL thought that I would just eat the increase and wouldn't move due to covid, which was a major miscalculation on their part if so.
Browsing my old complex's website, I see that there are 17 apartments that are available now (WAY more than what I thought and way more than was the case when I moved in last year) and another 38 that will become available over the next 1-2 months. Not that I'll ever know, but it wouldn't shock me if a significant number of the current and pending vacancies are an issue due to unreasonable rent increase.
Note, to better understand the insanity of my old management company, one of my old neighbors moved downstairs to a new unit (same identical layout) as the management company wouldn't budge on its quoted increase for her old unit. But she was able to get the new unit for considerably less; and her old unit sat empty for a while, too. There are no elevators either btw, so units on the lower levels are generally more expensive than units on the upper levels. There is something to be said about standard rent increases, but something completely different to be said about incompetence.
I'll be checking back in occasionally to see how long it will take to rent out my old unit.
It seems like my old unit was rented, about a month after I moved out. I wonder what terms the new leaseholder got (i.e. the 12 month vs. the 13 month) and whether the company is ultimately getting less per month in rent than they would have been getting from me is they came at me with a reasonable increase. I guess not my problem anymore, but still curious. I still have friends who live at the complex, so I may end up finding out one way or the other.
It seems like my old unit was rented, about a month after I moved out. I wonder what terms the new leaseholder got (i.e. the 12 month vs. the 13 month) and whether the company is ultimately getting less per month in rent than they would have been getting from me is they came at me with a reasonable increase. I guess not my problem anymore, but still curious. I still have friends who live at the complex, so I may end up finding out one way or the other.
Unless your friends ask the tenant, and they’re honest, you’ll never know. Your lease and your neighbors lease might be worded the same, the rental rate and provisions won’t always be.
Unless your friends ask the tenant, and they’re honest, you’ll never know. Your lease and your neighbors lease might be worded the same, the rental rate and provisions won’t always be.
Why do you care?
Why do you care that I care?
Not a snide comment, but why do we care about a whole host of things? I'm just curious.
I wasn’t being snide either. Why do you care what the new tenant, in your old unit, is paying?
You certainly cared enough to express yourself on an internet forum, fully intending to find this info out. Why??
I'm just curious to see how different landlords are operating and treating their tenants during this time, to include behavior that doesn't make much sense financially.
I'm just curious to see how different landlords are operating and treating their tenants during this time, to include behavior that doesn't make much sense financially.
Most landlords are operating business as usual. Why wouldn’t they?
Most landlords are operating business as usual. Why wouldn’t they?
I have explained my curiosity. This isn't an inquisition. I'll continue to update the thread as I see fit. Folks know why I am updating as I've stated such.
Lease renewal time has always been nerve racking and I get mine every november. Just hoping its the normal $15 increase like it has been the past 4 years.
Lease renewal time has always been nerve racking and I get mine every november. Just hoping its the normal $15 increase like it has been the past 4 years.
If my building increased rent by even a penny I would move. First 2-6 weeks free is pretty common in my area and there are literally new buildings going up as I type so no reason to eat any rent increase. I'm pretty disappointed in how my building's handling covid and the fact that it's not doing more to open up amenities sooner (ran into the mailman a couple months ago who said mine's the only one that hasn't opened them up) so I've started shopping around for living arrangements with 8 months left on my lease.
I'm looking to buy in the next 24 months max so hopefully this one or next is the last landlord I have to churn through.
Last edited by albert648; 09-06-2020 at 03:28 AM..
If my building increased rent by even a penny I would move. First 2-6 weeks free is pretty common in my area and there are literally new buildings going up as I type so no reason to eat any rent increase. I'm pretty disappointed in how my building's handling covid and the fact that it's not doing more to open up amenities sooner (ran into the mailman a couple months ago who said mine's the only one that hasn't opened them up) so I've started shopping around for living arrangements with 8 months left on my lease.
I'm looking to buy in the next 24 months max so hopefully this one or next is the last landlord I have to churn through.
I can understand that frustration because not every gets a increase in their income every year to balance out the annual rent increase. In my case whatever the rent increase wont start until next spring and I get a raise sometime in October. Now if it suddenly rises $30 due to covid I will be a little annoyed when it only went up 15 a year.
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