Need to vent...

chelsean_0783

I just got the renewal for our lease for our townhouse. Stupid people. They are raising the rent by $70(was $920, will be $990).....fine, I can deal with that even though there are empty townhouses up and down my row. They also have the balls to raise the cost of my extra parking stall from $25 to $40!!! And we only have 5 days to decide whether to renew or not!! I don't have time for this right now. I really don't want to renew because there are lots of duplex units around here that are cheaper than what I am paying, but I don't really have the time to start looking for somewhere new and I can't really afford a new safety deposit.............grrrrrrrrrrr Thanks for listening, I feel a bit better now.

nooniesinlove

That sucks!Maybe this will make you feel better: your rent for a townhouse is about half of the rent for our one-bedroom apartment.  We are fresh out of college and not rich people by any definition.  I iz jealous.

Mrs.B6302007

My mortgage jumped considerably this year on my townhouse due to tax and insurance increases and with everything in escrow, it effected my mortgage.  Perhaps the owners have had something similar occur since your last lease and that's what is leading to the increase.

chelsean_0783

Greedy rental companies and banks. Its a crazy world we live in when the economy isn't that good, and everyone just seems to make it harder to make ends meat. I can't imagine paying double for a one bedroom apartment! I guess I am kinda lucky when it comes to that, but I think we still might move, save us a couple hundred extra bucks a month, we want to try and get our own house around this time next year!

moonstone523

Tell them you don't want to renew.  They will probably scramble because they know if they don't it will sit empty for months.  Tell them, if they won't hike up the rent, you'll stay.  I bet it will work.  It is a 5 day scare tactic.  In this market... that shouldn't work.

Stackeye210

You should check your lease agreement.  Most leases state that rent will increase by 5% each year.  If that's the case you can tell them they legally can only raise the rent $46, not $70.  Just a thought, might save you a few bucks.  I know every lease I've ever had has said it will raise by 5% only. 

noelle24

Start looking now to get an idea of what exactly is out there and how much it costs.  I'd call your landlord and tell them that you just can't afford their rent increase, and tell them that you found x number of units in the area that are x number of dollars cheaper.  They should cut you a deal, because in this economy, it is very likely that your unit will sit empty for months. At the end of April, I told my previous landlord that his rent increase was too high, and that I was moving out.  He JUST found someone to take the apartment for the end of september, and he was very unhappy about it because the apartment sat empty for MONTHS.  And I live in a college town where it's usually not hard to fill an apartment. 

chance_encounters

Put the ball in your court.  Call them and let them know all of that.  Tell them you are not willing to sign a lease for that amount in this economy and that you would rather move than pay a higher amount.  I bet anything they will leave it at the price it is.

kiridoc07

Lets not cast too many stones at the rental agency.  Remember, they have expenses that have gone up too.  Lawn care has sky rocketed b/c of fuel costs.  Also, tax poor cities and states are sticking it to rental units- who in turn pass the costs on to you.  Also, you have maintenance personnel who, just like you, expect raises every year. The fact that the economy is bad does not mean that you are exempt from increases in the cost of living.  Why is it okay for the rental agencies to have increased costs and not you?  They have employees too.  They have payroll to meet and operate on slim profit margins.  If you don't want to be at the mercy of a rental agency, then don't rent.