Should I expect only a rent increase, or a possible tenancy termination in the coming months?

[GraceKrispy]

Originally Posted by jaynaydee

I live in an apartment complex that renovated their apartments a couple of years ago. They didn’t evict any tenants in order to upgrade the apartments, but instead just upgraded them after the leases were up and tenants moved out. I live in a commercial residential property.

This is also my experience. I also live in a very high COL and recently moved out of an old apartment. When the neighbors directly below us and those across from them moved out over the past few years, they did a huge upgrade/renovation. It was quite a substantial upgrade and the price increase was also fairly substantial. The most recent close neighbor who moved was about 2 years ago now. We just moved out of the apartment and they are redoing and totally upgrading our old apartment in preparation for the next tenants.

When they redid the one directly below us, my husband asked them if we were getting that same upgrade. We were told they would upgrade if we wanted to move out for a few weeks, but the rent would also go up to cover the renovation costs. No thanks!

[prospectheightsresident]

I'd prepare for both possibilities. You stated that the LL may not be upfront, so I think this is your best bet. For my part, while a somewhat different circumstance than yours, I do not intend to increase my tenant's rent (it'll be three years of leases at the same price).