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Raising my rent WTF

MTBLAZER89

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Ok here is the deal I come home from vacation and get a letter in the mail from my landlord saying that the rent is increasing due to rising costs /forums/images/graemlins/angryfire.gif It's only going up $30 a month, but we are sort of on a budget with only one income and two kids. /forums/images/graemlins/dunno.gif The part that upsets me is the "due to rising costs". If something breaks it takes them forever to come fix it. Anyway is there any laws or anything that says they need to produce proof of rising exspenses? /forums/images/graemlins/angryfire.gif Sorry just my rant
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jakeslim

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how long have you lived there? I think they are only allowed to raise at "renew the Lease" time. If a lease does not exist, then they can prob do anytime they want for fair market.
 

big pappa b

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Don't feel bad. Some guys I work with here (Air Force) that live in apartments also had their rent raised on the first of the year. Funny thing, their rent is exactly the same amount as their BAH (Basic Allowance for Housing). The [darn] of it is, the company that owns the apartment complex owns 90% of the apartments here in town and they raise the rent on Jan 1st every year. /forums/images/graemlins/angryfire.gif
 

jjlaughner

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I'd go talk to them... ask what your getting for $30 a month more... thats another $360 a year! /forums/images/graemlins/angryfire.gif
 

MTBLAZER89

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Yeah it's time to renew so I guess pay the rent or move and the sh!tty part is i transfer in less than 9 months. /forums/images/graemlins/angryfire.gif /forums/images/graemlins/angryfire.gif
 

SUBFAN

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Maybe his property taxes went up, and he is passing that along trying to keep the 'profit' margin up.... /forums/images/graemlins/dunno.gif
 

BlazerGuy

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Re-read your lease before you talk to them. Some leases have a clause that says the landlord can jack up the price anytime he wants...most do not though...
 

HarryH3

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There are a lot of things that can affect "rising costs". Taxes, utilities, and insurance all increase every year. Owning apartments isn't as "profitable" as many people think. The mortgage payment on the apartment buildings is often very near what the rents bring in every year. But if a lot of deadbeats skip out without paying, then the landlord may need to find another way to make up for the shortfall. /forums/images/graemlins/frown.gif

Demand for apartments, inflation, and the local market also have an effect on rents.
 

thatK30guy

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What Harry and Corby said. /forums/images/graemlins/angryfire.gif Yep, I would say the property taxes went up so the landlord is raising all the rents up. My property taxes went up almost $3600 for the year and we have not done anything to it. (wink, wink) The county appraiser does not know we have remodeled inside the house. I tried to appeal the decision, but no luck. This is not just you, but everyone all over the nation. /forums/images/graemlins/angryfire.gif
 

K5Jimmy

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I raise my rents to reflect a rise in Property taxes or Insurance....for example, on my personal residence the incerease in property tax due to a new Appraisal (done every year by the county) caused a rise of $183 per MONTH in my property taxes....this is With a $12k rollback they gave me when I went and protested....

I have other houses in Allen and Richardson that went up as much as $90 per month...the "profit margin" isn't enough to absorb these costs...also, it's a business not a charitable organization...I pay for breakage, repair (due to iresponsibility or stupidity sometimes)...I have also allowed credit when a renter rebuilt/repaired something themselves (with prior agreement from me)...I'm lucky enough to have some really good renters... /forums/images/graemlins/thumb.gif
 
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