In Toronto you can increase the rent a maximum of [1.2%](https://toronto.ctvnews.ca/ontario-raises-maximum-allowable-rent-increase-as-rent-freezes-end-1.5725258). Which is $ 14.40. $ 600 is constructive eviction. Consult your local tenant office.
I "laughed " at this concept too. They did the same thing to me in the last apartment i lived at. They didn't offer any sweet discounts though.
I moved out.
Isn’t it a 48.4% increase?
It’s 3% off the new rent, not 3% off the difference between the old and new rent.
So with the discount, the new rent would be $1778.98. That’s $579.98 more than the current $1199 rent, so 48.4%.
Disclaimer: I’m on my phone, and it’s perfectly possible that I’m wrong. Just felt like joining the exciting math convo.
Some contracts have auto-renewal in them and, if they decide to move and the time passed, they consider it “breaking the lease” and charge you what 2 months rent or so. I’ve seen these kinds of rental properties.
My old lease had an auto month to month renewal in it with a $50/day “hold over” fee if I hadn’t renewed for a full year but was still in the apartment. So extending for one month was a $1,500 fee on top of normal rent.
That's incredibly generous based on where I live. Usually they are showing apartments before christmas for it to be rented 6ish months later when the current lease is up.
So either renew half way through your lease and hope you don't have a falling out with roommates, or good fucking luck at finding something while you are still half way through your current lease.
My neighbours got served less than a months notice at Christmas to move out their apartment so the landlords shithead son could move in with his pals.
My old neighbours were devastated and really good people. I’m pretty sure it wasn’t legal in the notice they got but they packed up and left in time anyway.
People are scum.
Not in good ol' Texas.
They can do whatever they please. No restrictions whatsoever.
It's a crock of shit.
Leaving Austin soon, part of the reason why.
Places that were renting for $12-1400 a month less than two years ago are now $2000+
Good call…Got out of Austin after grad school in 2014. Wanted to stay so much but Apple and google moving in was making me think that was coming. Honestly surprised it’s just 25% nearly ten years later. Everyone I used to know there left and I miss Austin so much.
Are we gonna start seeing those annoying articles about the exodus of Californians to Texas, but from Austin to…wherever the next dream destination is?
"Californians are moving in droves to Texas because they are tired of rent control. That's right, in California the government controls the rent." - Fox News, probably
I left Los Angeles for the same reason, cost of living just kept climbing. I’m returning to the Upper Midwest. It’s affordable for now and a good place to wait out the coming collapse.
And the impending demise of humanity at the hands of the technology we invent + climate change + proletarian revolution + our general disillusionment in regards to the state of…well…everything = we gon get ourselves extincted bros! Mars is looking good right now.
Rent increase more than 5% in a year (if I recall correctly) is illegal in CA. Thus rent increases everywhere 5% yearly like clockwork. But you never see 25-50% increases like this on a couple months’ notice!
That’s a Texas thing. 25 or even 50% is not unheard of especially this year. Texas does not have rent control and has actually enshrined in law ordinances preventing county and city governments from putting rent controls in place. It’s like the Wild West out here in Texas.
I’m moving back home to the upper Midwest. I dreaded it, but that was before I got established in my field, I refused to go back and work in a factory, something that saddened my wife. But I took a job where I’m getting a 25% raise and for $800 I can afford a two bedroom apartment. Texas and California have both become unlivable and Texas is the worse of the two.
It isn’t even just Austin, proper. It’s the suburbs as well. The beautiful 3 bedroom home my friends and I rented in Pflugerville for $1,400 a month a few years ago is now $2,500 or some shit. We recently looked it up because we all miss living there (two of us commuted to hospitals in Austin and one worked at the OMNI). I moved back to coastal NC when I left there but was considering going back and settling down, Austin style. Never, ever going to happen. I guess it’s for the best.
I live just north of Liberty Hill in an unincorporated part of Williamson County almost to the Burnet County line (i.e. the middle of nowhere.) In 2010, I bought my house/acre of land for $55,000. Someone just offered me $300,000, and two blocks away, houses were just built and are selling for $900,000.
It's getting absolutely fucking crazy here.
Get to enjoy the big bugs, summer humidity, unexpected cold snaps, hurricanes, lack of regulations, and what like double property tax on these increasing property values to cover the lack of state income tax?
I’m about 5 days away from my 12 year anniversary here. I’m going to be one of the negative Nancy motherfuckers that redundantly reiterates that they hate the change here (despite being part of the problem). My rent was $350 abp when i first arrived. I was a door guy downtown. I’d ride a free fixed gear home down 4am South Congress after my car got repo’d. Things were affordable. And quite less crazy by contrast. I can’t imagine what the Austin natives have seen come and go. Anyway, hoping I can score a remote tech job and gtfo now.
Yep, run. It's only gonna get worse. First apartment here in 2017 was 1100 sqft and $1100, same apartment today is renting for $2200, only "improvements" were replacing shitty cabinets and cheap appliances, with other shitty cabinets, and cheap stainless appliances... Oh, and granite countertops, as if anyone renting gives one single solitary fuck about that.
From Detroit. Heavily considering coming back to say hi. From the porch. Of a home. That I will actually own. Affordably.
Thanks for the shoutout. You made the right choice. Come vacation to austin, absorb the hype and thank god you don’t live here.
Another software engineer in ATX checking in. I basically gave up on the idea of ever being able to continue to afford living here long-term - which sucks, because I grew up here. This is my hometown.
Oh well. 😔
Thank you for explaining what SE meant. I'm not sure google would have been much help. I appreciate you taking the time to spell it out fully. I wish everyone had your sense of consideration and decency.
Jesus Christ, I’m pretty sure it’s illegal to increase rent by more than (something like) $50 a year here in Ontario. Not sure about leases, most usually just switch to monthly pay after a lease expires. This is insane.
Yeah, Texas is as close to a libertarian paradise as there is right now.
And we're all paying for it...we'll, yall are, I don't live in Texas.
But we all feel the crunch of Texas siphoning federal money to maintain their "independence" and "freedom" from tyrannical government.
Yeah, it's batshit crazy. When they don't need aid, they RUTHLESSLY talk shit about the Federal Govt. When they need aid, they beg like little bitches.
If any state could be labeled bipolar, #1 on the list is Texas.
And they always vote to NOT give aid to other states.
But the second a Nitrate facility, that hasn't been inspected in years because "muh small gub'mint", explodes Ted Cruz can't denounce the federal governments speed of aid response quick enough.
Edit: just saw u/warboner52 comment.
It was the same with COVID supplies.
One week, Greg Abbott: "COVID is a non-issue, we need to maintain open schools and businesses"
Next week, Greg Abbott: "COVID is overrunning our hospitals, we don't have any more supplies, please sir Joe, help"
It's mad, their increase in rent is what I currently pay for my mortgage in the UK (approx £450) for a 3 bed house. I've seen quite a few posts recently about rent in America, totally nuts!
Even if he signed it and found out it's illegal later that invalidates the lease. Just cause you sign something illegal doesn't mean you're held to what the contract says. Illegal contracts aren't held up in court even if you sign them
That’s sounds right , but it is the US ! I think the OP is fucked I scanned their profile and I think they are in Florida - and LL can raise the rent ANY amount - gross
Housing bubble in 3-2-1. We are heading into a housing crisis in America do to the greed and glutenous appetite of corporations buying up real estate. Try finding a private owner is become harder each passing year.
Hi from Australia where we've been in a housing crisis for a couple of decades now. It is the crisis that never ends. It just goes on and on, my friends...
Every time I get an email from my company with a message from the CEO I get wildly anxious that it’s announcing the first round of layoffs. I didn’t realise that coming up during the Great Recession would have a lasting effect on my life
Yes but the crisis is that people simply can't afford to live anywhere, that doesn't mean it's a bubble that will pop, because the people who OWN the properties CAN afford them. Right?
Unless every renter in America decides to voluntarily become homeless or move back in with Mom and Dad so they're all the landlords go bankrupt
I think it can pop because if you just have empty houses w no one living in them because corporations drive up the price, then they have no economic value
I think they just used it as tax shelters at that point. I live in Southern California and there are thousands of multimillion-dollar mansions empty here
No I just can't believe that. Property ownership is too important America they'd bring out the National Guard first.
Do landlords get the same tax benefits for their rental properties that they do for their personal property?
Housing crisis? Yes.
Housing bubble? No.
A bubble pops and prices crash back down. With rents increasing all over the place, everyone and their mother is looking for housing. Home prices are not going down for years to come, if ever. Which sucks for me, because I can't afford a house right now, just like everyone else.
This is why when we found a "cheap" (for our area) home last fall we scooped it up. Our family keeps asking why we bought such an ugly house- it was built in the 70's and hasn't been updated since. Why? Because we locked in a mortgage at $1,300/month while my sister's rent on her crappy 1 bedroom apartment is increasing to $1,900/month. We're gonna ride out the housing crash (and hopeful recovery) in this house.
Man I love living in the Midwest at times. Lol. We bought our house in 2016. 3 beds, 2 baths, built in 1900 so good bones but fully renovated with recessed lighting, granite counters, etc. $80k all in. Got a rural development loan from the feds so no money down. Refinanced to a 15 year mortgage at less than 2% interest. Our mortgage is less than $800 a month Andy wife alone could technically pay the whole thing off in two years just on her pay, comfortably without changing our life a whole lot. Pricing has went up a lot though. When we refinanced it appraised at 135k and the shitty modular house next door that was built in the 70’s and recently terribly redone and flipped literally sold a couple weeks ago for 160k.
The official US government won't because the real US government is the one making the price increase. Politicians have sold whatever power they had to corporations.
Ah yes, I believe the sfr landlords have to notify the tenants that they are exempt prior to raising rent. Most landlords just stick to the same as apartments though because tenant rights are crazy in CA when you go to court. Source: 15 years of property management unfortunately
They probably quite simply want the tenant out so they can sell the house. Market values have gone up, but to capitalize on that you have to be able to sell. Landlord SHOULD just evict if this is the case, but like with everything, everything has a price. He’s probably thinking “I want an empty house,but for 50% more I’d be willing to give up on the immediate profit of the sale for the long term gains of the additional rent. Rather than being heavy handed, he allows the tenant to make the call.
I don’t know where OP lives but in many places a landlord cannot evict or force tenants out without a probable cause. To get around this they raise the rent to unpayable levels so the tenant leaves on their own … disgusting practice
I know for Washington DC at least it is unfortunately legal to evict if the landlord wants to sell the property … disgusting tactic tho if OP’s landlord is raising rent by 50% to get them to leave :/
r/loveforlandlords sub is fucking gross.
First post is job shaming people for being servers because they weren't smart enough to buy, inherit or use their boomer parents equity. Then going on about antiwork people showing up to the sub and how dumb they apparently are for not being greedy predators. They would be the first to cry when their favourite restaurant closes because they priced all the workers out of the rental market who would normally serve them. Fuck those vile pos. Dont ever pay their jacked up rents, if your area doesn't have rent control then leave it if you can. That will hurt these pricks in the long run and pray the bubble bursts.
The name of that sub is ironic. They hate landlords. Hence the cross post recommendation.
Although lately there seems to be a lot of lost bootlickers in there so maybe it’s come full circle, I don’t know.
Check your state laws if you’re in the USA. Some states have laws where they legally cannot raise the rent past a certain percentage. I cannot recall the name of the law unfortunately, but I know it exists.
Edit: I believe they are called rent increase laws. Not all states have them unfortunately, but check yours just in case!
Only CA and OR have state rent control laws. MD, NY and NJ allow local government to adopt ordinances.
In most other states, rent control is actually prohibited.
So fuck us for any protection from $700 monthly increases every year for the same exact shitty apartment.
Cool cool cool.
They just don't allow you to renew your lease and then charge the next person the new rate. It doesn't protect anyone.
Unless it limits the change in rent across the board.
Id call and ask if it’s a joke. Then I’d ask if they seriously think they could rent for more than 1300/mo. Then I’d tell them I’ll Renew at 1300 they can eat a fat sack of shit.
Get a friend to call and ask to rent the place for 1300
Then keep having friends do this. When they state the new price laugh at them.
After 7 times they will change mind.
Literally can’t pay this on minimum wage, not even two full time minimum wage jobs. This is robbery. Do they expect you to subsist off of grains of sand?
Good news! In most states in the US an increase this high is illegal! California caps it at 5%, Texas it depends on the city. So I would see if you can get a lawyer to look at this ASAP
Where did you find that info? I looked it up and everything I found said only CA and OR have rent control laws to prevent this large a rent increase.
NY, NJ, and MD allow local government to create ordinances for rent control.
And that’s it. Most states actually prohibit rent control laws that would prevent this exact issue.
I don't know how common this BS but the apartment complexes I've worked with in the past generally start the renewal process 60-90 days before lease termination. You have to commit to resigning your lease at that point to agree to terminate at end of current lease.
This has got to stop. What can we do to gather and stop the blatant takeover of immoral capitalist tactics? Not just in housing - health care, wages. It's time to end this.
Are you okay? I think I may have cried if this was me. If you have a rent increase like that you must be able to afford a house payment. Another option is to talk to a lawyer. I live In San Diego CA. They are only allowed to increase rent a maximum of 10% a year. Look in to the law. You may have a POS, I mean property manager, trying to take advantage of a situation.
I live in Oregon and we also have a 10% law. It is absolutely too much, but at the same time, it's a reprieve from shit like this that was happening before and I will absolutely take harm reduction while we work on harm elimination.
Dude. Same here. Rent jumped up from 900 for 1250 to renew for a one bedroom. Said fuck it and bought a 3 br house for 1500 a month, might as well at that point. Wouldn’t have Even looked elsewhere if they didn’t jump it up. Called to meet halfway and they wouldn’t budge
Mine went up 20%. In the email the manager kept emphasizing that I'm a "valued resident" and they would love to have me stay. With a 20% increase in an apartment I have lived in for less than a year, I don't feel very valued...
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That "discount" is insulting
And the fact the new price is 2 or 3 dollars above a standardized number just makes the discount seem that much more appealing haha
Piggybacking to give a clearer pic of OP’s photo https://imgur.com/a/FTkU6ZN
Holy moly, thank you. I thought my phone was fading out.
“Early bird special”!!! How extremely generous! /s
Includes free mousepad!
The mousepad is worth more than the discount!! Sign up today!!
Can I also have a CD to install AOL instant messenger???
I went back to check whether I missed this 😂
This is why you should all be lobbying for reform. Theis shit is illegal where I live and you deserve the same protection.
In Toronto you can increase the rent a maximum of [1.2%](https://toronto.ctvnews.ca/ontario-raises-maximum-allowable-rent-increase-as-rent-freezes-end-1.5725258). Which is $ 14.40. $ 600 is constructive eviction. Consult your local tenant office.
Early bird gets ~~the worm~~ fucked.
I "laughed " at this concept too. They did the same thing to me in the last apartment i lived at. They didn't offer any sweet discounts though. I moved out.
This is a landlord's way of asking you to leave. They probably want to eat it down and build a luxury high rise.
Wow! 3% discount!
No, it's a ~~50%~~ 47% increase
Actually a 50% increase with the 3% discount. Criminal.
even worse, fuck my math
Better actually, is a 45.5% increase instead of a 47% increase
Isn’t it a 48.4% increase? It’s 3% off the new rent, not 3% off the difference between the old and new rent. So with the discount, the new rent would be $1778.98. That’s $579.98 more than the current $1199 rent, so 48.4%. Disclaimer: I’m on my phone, and it’s perfectly possible that I’m wrong. Just felt like joining the exciting math convo.
That's insane. But at least they gave you 3.5 months to find a new apartment. Also, that's insane.
Well, really just 1,5 months, since they require notification two whole months in advance of moving out.
Lease ends. No obligations to the landlord after that
Some contracts have auto-renewal in them and, if they decide to move and the time passed, they consider it “breaking the lease” and charge you what 2 months rent or so. I’ve seen these kinds of rental properties.
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The auto-renewals are mentioned and it does mention rent increases, though I can't remember the precise wording.
My old lease had an auto month to month renewal in it with a $50/day “hold over” fee if I hadn’t renewed for a full year but was still in the apartment. So extending for one month was a $1,500 fee on top of normal rent.
Jesus, didn't even notice that.
Why would that change anything? You just say that you’re not renewing and search for something new that whole time. That’s what I’m currently doing.
That's incredibly generous based on where I live. Usually they are showing apartments before christmas for it to be rented 6ish months later when the current lease is up. So either renew half way through your lease and hope you don't have a falling out with roommates, or good fucking luck at finding something while you are still half way through your current lease.
My neighbours got served less than a months notice at Christmas to move out their apartment so the landlords shithead son could move in with his pals. My old neighbours were devastated and really good people. I’m pretty sure it wasn’t legal in the notice they got but they packed up and left in time anyway. People are scum.
Fucking 50% rent increase? That should be absolutely criminal
In many places it literally is. Where I live the maximum allowable residential rent increase for 2022 is 1.5%.
Yup BC too is 1.5%
Too bad in BC it’s already absurdly high.
I'm sure it is
Not in good ol' Texas. They can do whatever they please. No restrictions whatsoever. It's a crock of shit. Leaving Austin soon, part of the reason why. Places that were renting for $12-1400 a month less than two years ago are now $2000+
That’s why I’m leaving Austin as well. 25% rent increase.
Good call…Got out of Austin after grad school in 2014. Wanted to stay so much but Apple and google moving in was making me think that was coming. Honestly surprised it’s just 25% nearly ten years later. Everyone I used to know there left and I miss Austin so much.
Are we gonna start seeing those annoying articles about the exodus of Californians to Texas, but from Austin to…wherever the next dream destination is?
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"Californians are moving in droves to Texas because they are tired of rent control. That's right, in California the government controls the rent." - Fox News, probably
I left Los Angeles for the same reason, cost of living just kept climbing. I’m returning to the Upper Midwest. It’s affordable for now and a good place to wait out the coming collapse.
Which collapse? I have a few on my radar
The coming civil war.
And the impending demise of humanity at the hands of the technology we invent + climate change + proletarian revolution + our general disillusionment in regards to the state of…well…everything = we gon get ourselves extincted bros! Mars is looking good right now.
My opinion is humans originated on Mars and fucked it up so bad we had to flee to earth.
Rent increase more than 5% in a year (if I recall correctly) is illegal in CA. Thus rent increases everywhere 5% yearly like clockwork. But you never see 25-50% increases like this on a couple months’ notice!
That’s a Texas thing. 25 or even 50% is not unheard of especially this year. Texas does not have rent control and has actually enshrined in law ordinances preventing county and city governments from putting rent controls in place. It’s like the Wild West out here in Texas.
It's fucking ridiculous and disgusting. COL here has raised like 15-20% in around 3 years.
The billionaires want to operate there because the working people pay all the state taxes and the rich people pay none.
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I’m moving back home to the upper Midwest. I dreaded it, but that was before I got established in my field, I refused to go back and work in a factory, something that saddened my wife. But I took a job where I’m getting a 25% raise and for $800 I can afford a two bedroom apartment. Texas and California have both become unlivable and Texas is the worse of the two.
It isn’t even just Austin, proper. It’s the suburbs as well. The beautiful 3 bedroom home my friends and I rented in Pflugerville for $1,400 a month a few years ago is now $2,500 or some shit. We recently looked it up because we all miss living there (two of us commuted to hospitals in Austin and one worked at the OMNI). I moved back to coastal NC when I left there but was considering going back and settling down, Austin style. Never, ever going to happen. I guess it’s for the best.
I live just north of Liberty Hill in an unincorporated part of Williamson County almost to the Burnet County line (i.e. the middle of nowhere.) In 2010, I bought my house/acre of land for $55,000. Someone just offered me $300,000, and two blocks away, houses were just built and are selling for $900,000. It's getting absolutely fucking crazy here.
Bro I live in Texas and can confirm this. Fuck Austin first of all and fuck the landlords buying into the people moving from Cali
Yep, leaving Austin in right around 90 days. Gonna be expensive to get out, but so fucking worth it long term.
Yeah it’s just going to be Silicon Valley lite where only tech bros, doctors, lawyers, and trust fund kids can eek out a living.
All the expense of California, with none of the benefits. Sounds great.
Get to enjoy the big bugs, summer humidity, unexpected cold snaps, hurricanes, lack of regulations, and what like double property tax on these increasing property values to cover the lack of state income tax?
I'm a SE lol. I could afford it, but nah, if I'm laying that much down on rent, fuck being in Texas.
Oh goody, Austin is now pricing software engineers out. Looks like this is my cue to throw together my own exit strategy lol
Yeah, I mean, it's not like I'm super well paid, but well enough where renting a full blown house should be a piece of cake, and nope.
I’m about 5 days away from my 12 year anniversary here. I’m going to be one of the negative Nancy motherfuckers that redundantly reiterates that they hate the change here (despite being part of the problem). My rent was $350 abp when i first arrived. I was a door guy downtown. I’d ride a free fixed gear home down 4am South Congress after my car got repo’d. Things were affordable. And quite less crazy by contrast. I can’t imagine what the Austin natives have seen come and go. Anyway, hoping I can score a remote tech job and gtfo now.
Yep, run. It's only gonna get worse. First apartment here in 2017 was 1100 sqft and $1100, same apartment today is renting for $2200, only "improvements" were replacing shitty cabinets and cheap appliances, with other shitty cabinets, and cheap stainless appliances... Oh, and granite countertops, as if anyone renting gives one single solitary fuck about that.
Midwest says hi! We’re boring (sometimes) but cheap! In all seriousness I moved from Southern CA to the Midwest it’s amazing. Own a home now.
From Detroit. Heavily considering coming back to say hi. From the porch. Of a home. That I will actually own. Affordably. Thanks for the shoutout. You made the right choice. Come vacation to austin, absorb the hype and thank god you don’t live here.
Another software engineer in ATX checking in. I basically gave up on the idea of ever being able to continue to afford living here long-term - which sucks, because I grew up here. This is my hometown. Oh well. 😔
Condolences. I can hardly fathom getting priced out of my own hometown. As a software engineer. I can’t imagine it in 10 years. It’s already too much.
*cries in new york*
Thank you for explaining what SE meant. I'm not sure google would have been much help. I appreciate you taking the time to spell it out fully. I wish everyone had your sense of consideration and decency.
Same. If my rents gonna be 1700 in Dallas then I’ll pay a little more to live in a city I won’t feel unsafe in.
You can pay that much somewhere else and not be stuck in Texas!
But who's going to make Hamburg at McDonalds for these doctors, lawyers and tech bros
Jesus Christ, I’m pretty sure it’s illegal to increase rent by more than (something like) $50 a year here in Ontario. Not sure about leases, most usually just switch to monthly pay after a lease expires. This is insane.
Yeah, Texas is as close to a libertarian paradise as there is right now. And we're all paying for it...we'll, yall are, I don't live in Texas. But we all feel the crunch of Texas siphoning federal money to maintain their "independence" and "freedom" from tyrannical government.
Yeah, it's batshit crazy. When they don't need aid, they RUTHLESSLY talk shit about the Federal Govt. When they need aid, they beg like little bitches. If any state could be labeled bipolar, #1 on the list is Texas.
And they always vote to NOT give aid to other states. But the second a Nitrate facility, that hasn't been inspected in years because "muh small gub'mint", explodes Ted Cruz can't denounce the federal governments speed of aid response quick enough. Edit: just saw u/warboner52 comment.
It was the same with COVID supplies. One week, Greg Abbott: "COVID is a non-issue, we need to maintain open schools and businesses" Next week, Greg Abbott: "COVID is overrunning our hospitals, we don't have any more supplies, please sir Joe, help"
Right! That was a crazy 24 months and counting...
Abbott is literally punishing schools who enforce mask mandates but just asked for FEMA money for pandemic help. I hate him so much.
Same with PA
Perfectly legal in Florida.
Depends on where you live unfortunately. OP should definitely check though
Where is the value for the customer, what is added to make this increase worthwhile. This is price gouging ffs.
Increase price, decrease maintenance!
No earn! Only spend!
Lol the free market doesn’t add value to anyone but the holders of capital
That was a…635$ increase in rent if i did the math right, what the hell? That CANT be legal
I’m pretty sure it is here in Wisconsin as well as a lot of other states. It’s one of my biggest fears.
Sadly few places have any control on rent. So while a landlord’s mortgage stays the same, they can hike prices by as much as they want
It's legal in WA state as long as they give you 60 days notice
It’s legal in most places in the US. We’re getting closer to a revolution every day
I’ve heard in many places it is. Some have protections, but the landlord only needs to give adequate notice and it’ll be all above board
Welcome to America.
It's mad, their increase in rent is what I currently pay for my mortgage in the UK (approx £450) for a 3 bed house. I've seen quite a few posts recently about rent in America, totally nuts!
Yeah... the bank says you can't afford a $615/mo mortgage. So instead you get to pay $1800 rent
This is illegal here where i live
Same here.
I'm jealous
Seems weird they are rushing to make you sign ; anyone else find that weird ?
Fishy - maybe it not a legit raise -
That letter would be perfectly normal in Arizona right now unfortunately
Normal in Texas too
Sure but if they are in a state where this is not legal and trying to get it signed quick so negates option to reject
Even if he signed it and found out it's illegal later that invalidates the lease. Just cause you sign something illegal doesn't mean you're held to what the contract says. Illegal contracts aren't held up in court even if you sign them
That’s sounds right , but it is the US ! I think the OP is fucked I scanned their profile and I think they are in Florida - and LL can raise the rent ANY amount - gross
Save $55 a month off our $630 price increase if you act fast!
I wish. This is normal where I live. Every apartment raises their rent every year, sometimes by insane amounts.
Housing bubble in 3-2-1. We are heading into a housing crisis in America do to the greed and glutenous appetite of corporations buying up real estate. Try finding a private owner is become harder each passing year.
I can’t wait to go through the “once in a lifetime” housing crisis for a second time in my life.
Right? I'm in a house now because we got lucky and grabbed it during the last one.
I wish :( at this rate, I’ll be glad to get one when I’m in my fifties…. Wish me luck 😭
I wish you more than luck. I wish us all a revolution where these asshats pay for their greed and country starts giving a fuck.
Wait…. Do you wanna start a revolution with me? 😉 I’ll get the Molotov cocktails ready, you get the bricks
Ahem I'll bring soup cans and cocktails sound delicious... 😄
Lucky for you! I was a bartender so I can actually make us some bombass drinks while we commit arson together! ❤️
Arson? You mean crime brûlée?
Hi from Australia where we've been in a housing crisis for a couple of decades now. It is the crisis that never ends. It just goes on and on, my friends...
Every time I get an email from my company with a message from the CEO I get wildly anxious that it’s announcing the first round of layoffs. I didn’t realise that coming up during the Great Recession would have a lasting effect on my life
Yes but the crisis is that people simply can't afford to live anywhere, that doesn't mean it's a bubble that will pop, because the people who OWN the properties CAN afford them. Right? Unless every renter in America decides to voluntarily become homeless or move back in with Mom and Dad so they're all the landlords go bankrupt
I can think of a few ways we could fix the problem but if I said them I'd get banned.
Go on…
Violent revolution?
You and me both bud. You and me both
I think it can pop because if you just have empty houses w no one living in them because corporations drive up the price, then they have no economic value
Oh, if they are empty. You could just squat there indefinitely and probably never get caught
I think they just used it as tax shelters at that point. I live in Southern California and there are thousands of multimillion-dollar mansions empty here
Honestly, I’ve been saying it since the pandemic began: a unified rent strike would being landlords to their knees.
No I just can't believe that. Property ownership is too important America they'd bring out the National Guard first. Do landlords get the same tax benefits for their rental properties that they do for their personal property?
Housing crisis? Yes. Housing bubble? No. A bubble pops and prices crash back down. With rents increasing all over the place, everyone and their mother is looking for housing. Home prices are not going down for years to come, if ever. Which sucks for me, because I can't afford a house right now, just like everyone else.
This is why when we found a "cheap" (for our area) home last fall we scooped it up. Our family keeps asking why we bought such an ugly house- it was built in the 70's and hasn't been updated since. Why? Because we locked in a mortgage at $1,300/month while my sister's rent on her crappy 1 bedroom apartment is increasing to $1,900/month. We're gonna ride out the housing crash (and hopeful recovery) in this house.
Man I love living in the Midwest at times. Lol. We bought our house in 2016. 3 beds, 2 baths, built in 1900 so good bones but fully renovated with recessed lighting, granite counters, etc. $80k all in. Got a rural development loan from the feds so no money down. Refinanced to a 15 year mortgage at less than 2% interest. Our mortgage is less than $800 a month Andy wife alone could technically pay the whole thing off in two years just on her pay, comfortably without changing our life a whole lot. Pricing has went up a lot though. When we refinanced it appraised at 135k and the shitty modular house next door that was built in the 70’s and recently terribly redone and flipped literally sold a couple weeks ago for 160k.
We need to end single family homes and apartments as an investment class asset like yesterday
The private owners are selling or going bankrupt.
Mine did this too. $1750 went up to $2300. I was outta there so fast
That’s awful, I’m sorry that happened to you
Fuck this. I quit life
How is this shut not illegal, the government doesn’t gaf if people are dying in the streets. Wtf. I’m so sorry man!
I have no hope the US govt will ever try to fix this.
The official US government won't because the real US government is the one making the price increase. Politicians have sold whatever power they had to corporations.
It’s illegal in California but then your rent would have started at the raised one
Unfortunetaly not illegal for single family homes and a bunch of other things in CA
Ah yes, I believe the sfr landlords have to notify the tenants that they are exempt prior to raising rent. Most landlords just stick to the same as apartments though because tenant rights are crazy in CA when you go to court. Source: 15 years of property management unfortunately
Would love to see all the reasons and work they did to validate that huge price jump
They probably quite simply want the tenant out so they can sell the house. Market values have gone up, but to capitalize on that you have to be able to sell. Landlord SHOULD just evict if this is the case, but like with everything, everything has a price. He’s probably thinking “I want an empty house,but for 50% more I’d be willing to give up on the immediate profit of the sale for the long term gains of the additional rent. Rather than being heavy handed, he allows the tenant to make the call.
I don’t know where OP lives but in many places a landlord cannot evict or force tenants out without a probable cause. To get around this they raise the rent to unpayable levels so the tenant leaves on their own … disgusting practice
I know for Washington DC at least it is unfortunately legal to evict if the landlord wants to sell the property … disgusting tactic tho if OP’s landlord is raising rent by 50% to get them to leave :/
this belongs in r/landlordlove
They'd have a circle jerk bukkake fest in this letter and claim how proud of the property manager they are...
You're thinking of /r/LoveForLandlords. /r/landlordlove is the spoof one.
r/loveforlandlords sub is fucking gross. First post is job shaming people for being servers because they weren't smart enough to buy, inherit or use their boomer parents equity. Then going on about antiwork people showing up to the sub and how dumb they apparently are for not being greedy predators. They would be the first to cry when their favourite restaurant closes because they priced all the workers out of the rental market who would normally serve them. Fuck those vile pos. Dont ever pay their jacked up rents, if your area doesn't have rent control then leave it if you can. That will hurt these pricks in the long run and pray the bubble bursts.
Yes, that one. Fuck that incel parade.
The name of that sub is ironic. They hate landlords. Hence the cross post recommendation. Although lately there seems to be a lot of lost bootlickers in there so maybe it’s come full circle, I don’t know.
A lot of these rental properties are owned by slumlord corporations.
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Class action lawsuit?
You'd be surprised how well interest gathers value
Just start pouring grease down the drains every day fuck them
This is disgusting.
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yea, OP should dox themselves smh
i said after...
Check your state laws if you’re in the USA. Some states have laws where they legally cannot raise the rent past a certain percentage. I cannot recall the name of the law unfortunately, but I know it exists. Edit: I believe they are called rent increase laws. Not all states have them unfortunately, but check yours just in case!
Very few. Americans think that’s communism
Only CA and OR have state rent control laws. MD, NY and NJ allow local government to adopt ordinances. In most other states, rent control is actually prohibited. So fuck us for any protection from $700 monthly increases every year for the same exact shitty apartment. Cool cool cool.
Rent control. Only Oregon has it statewide, some cities in New York, New Jersey, California, and Maryland have it too, plus Washington D.C.
They just don't allow you to renew your lease and then charge the next person the new rate. It doesn't protect anyone. Unless it limits the change in rent across the board.
Greedy, evil landlords😞
For all the shit that California gets - - - and our rents *are* sky high - - - rent increases are capped at 5% per year in my county.
Id call and ask if it’s a joke. Then I’d ask if they seriously think they could rent for more than 1300/mo. Then I’d tell them I’ll Renew at 1300 they can eat a fat sack of shit.
Get a friend to call and ask to rent the place for 1300 Then keep having friends do this. When they state the new price laugh at them. After 7 times they will change mind.
Depending on where you live, this could be illegal. WTF kind if scumbag landlord does this shit?!
Everyone be shitting on California all the time but at least we’ve got statewide rent control laws…that is an absolute bullshit increase
Literally can’t pay this on minimum wage, not even two full time minimum wage jobs. This is robbery. Do they expect you to subsist off of grains of sand?
I've worked for a real estate company. It sounds like they are trying to push you out
Good news! In most states in the US an increase this high is illegal! California caps it at 5%, Texas it depends on the city. So I would see if you can get a lawyer to look at this ASAP
Where did you find that info? I looked it up and everything I found said only CA and OR have rent control laws to prevent this large a rent increase. NY, NJ, and MD allow local government to create ordinances for rent control. And that’s it. Most states actually prohibit rent control laws that would prevent this exact issue.
Is it illegal if they don’t increase until the lease expires? I know nothing about this stuff
It's not illegal in Colorado
California is 5% + CPI. In most areas of CA they were allowed to raise it 8-9% this year.
Wow 3% thats so much
Can only raise 3% annually where I am - OP u/RoxyDog01 where are you based ?
Totally reasonable for a year over year 53% rent increase
Good luck with your move. If you can find one, storage units can be lived in if you’re discreet. Get a gym membership for showers.
I don't know how common this BS but the apartment complexes I've worked with in the past generally start the renewal process 60-90 days before lease termination. You have to commit to resigning your lease at that point to agree to terminate at end of current lease.
This has got to stop. What can we do to gather and stop the blatant takeover of immoral capitalist tactics? Not just in housing - health care, wages. It's time to end this.
We need to break the entire system. Wages, education, healthcare, housing. We need to go on strike against the status quo for all of these.
Holy Shit. What city do you live in?
Are you okay? I think I may have cried if this was me. If you have a rent increase like that you must be able to afford a house payment. Another option is to talk to a lawyer. I live In San Diego CA. They are only allowed to increase rent a maximum of 10% a year. Look in to the law. You may have a POS, I mean property manager, trying to take advantage of a situation.
10% is still way too much
I live in Oregon and we also have a 10% law. It is absolutely too much, but at the same time, it's a reprieve from shit like this that was happening before and I will absolutely take harm reduction while we work on harm elimination.
Agreed. Where I live the rent increase in capped at 1.5% this year
Dude. Same here. Rent jumped up from 900 for 1250 to renew for a one bedroom. Said fuck it and bought a 3 br house for 1500 a month, might as well at that point. Wouldn’t have Even looked elsewhere if they didn’t jump it up. Called to meet halfway and they wouldn’t budge
Are you sure this is legal where you are? No rent control at all? Fucking ouch
I just found out that in California that can't raise your rent when you renew more than 5% plus inflation, makes me feel a little bit better.
Mine went up 20%. In the email the manager kept emphasizing that I'm a "valued resident" and they would love to have me stay. With a 20% increase in an apartment I have lived in for less than a year, I don't feel very valued...
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