How common is it for an apartment to have an increase in rent after the initial lease is up?
I have rent that is increasing by $200 more. Geez.
I’m a first time renter. Is this normal?
Yes, it is very normal for a rent increase to occur after your initial lease is up. Taxes and other costs of maintaining the apartment building are on the rise and the landlord needs to make up for these additional costs by raising rents.
Was the $200.00 raise figure per month? That sounds rather absorbent to me, but if that is the required amount then you either pay it or look for another apartment.
February 24th, 2010 at 6:24 am
Your local norms and terms of Rental agreement you enter in to that matters. If unspecified…owner can claim any increase.
Normally increase is related with GDP or say average 10% Per Annum.
If you are forced to pay more..then have an ENO Fruit salt punch for Indigestion.
References :
February 24th, 2010 at 6:44 am
Yes, it is very normal for a rent increase to occur after your initial lease is up. Taxes and other costs of maintaining the apartment building are on the rise and the landlord needs to make up for these additional costs by raising rents.
Was the $200.00 raise figure per month? That sounds rather absorbent to me, but if that is the required amount then you either pay it or look for another apartment.
References :
February 24th, 2010 at 6:56 am
Rent increases are normal and expected. The cost of doing business for landlords goes up every year via property taxes, insurance, maintenance increases.
$200.00 sounds steep, but it really depends on the rent amount and rental market in your area.
References :