So it’s time for me to renew my lease and they want to jack my rent up $40 per month. This seems a little outrageous to me. I mean I was willing to pay up $20 more, but $40 jeez.
What I want to know is if anyone has ever successfully renegotiated a lease. Will I have to suck it up and pay this ungodly rate? Will I need to move?
By the way they haven’t made any improvements to the complex since I moved in and there has been an increase in car break-ins and the apartment complex hasn’t done anything about that other than to ask us to start a heightened community watch.
Depends on a lotta factors, I suspect. First, how tight is the market in your area? If they’ve got lots of people willing to pay the higher rate, you’re probably in trouble. Second, have you been a desirable tenant? I rent out two houses, and have not raised rents very often just because both tenants have worked out so well, it’s not worth the risk of renting to an asshole at a higher price, if they end up letting the property slide.
With these things in mind, I’d say; go ahead and ask about a lower increase. All they can do is say no.
In my city (state of California), recently at a big apartment complex they asked $200 more per month. There was a big tenant meeting & then talks of rent control & such & they changed it to $100 after a few weeks of prodding.
Try buying The Tenants Handbook for your state, its worth that $20 or so, or get it at your library. I think that its Nolo Press & full of tons of legal answer for ya.