Question

I have a question before I finalize my May budget and goals. I moved into my 2 bedroom 2 bath apartment (washer and dryer included in the unit) for $824/month and I signed a six-month lease. They increased it by $60 in January when my lease ended. I just got a notice on my door today saying that they’re increasing it again as it adds up to a whole $100 increase since I moved in. Would you pay the difference and move on or would you find a different housing placement?  (it also feels impossible to get ahold of anyone at the office as well)

Answer 1

What state do you live in? I wish my rent was that price! I pay 1350 for my one bed one bath and 50 a month pet rent on top  

Comments

@zenas Arizona. I don’t live in a bad area but it’s not the best either. It’s okay since we are only home at night.  

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@cliftonclim AZ here too!  

Answer 2

I would weigh the moving costs against the rent increase. That’s what i did with my old apartment. And sign a lease if you decide to stay so you can lock in the rent.  

Answer 3

Depends on a few things. 1. Can your budget allow the $100 increase? 2. Are there other apartments with the same amenities at that price? 3. Cost of moving. 4. Do you actually LOVE where you live? Or could you be happier elsewhere?  

Comments

@ruelu31 yes it can if I don’t budget some sinking funds or savings

Answer 4

I personally would move. If they have already raised it twice in four months then it's not a good sign. They probably raised it once again because of Covid (they're trying to get more money) but I don't know 100% about that. You would think they would try and help people during this time, but some people are greedy.  

Answer 5

Short term lease = potentially more frequent increases

Answer 6

Short term leases frequently have raises in rents more often, as every time your lease ends they raise it to the current rate.  

Answer 7

The only reason I would think to stay is because I have a washer and dryer in my unit. Others don’t so it’s be another expense and it would be more or the same

Comments

@cliftonclim does the benefit of the washer/dryer in unit outweigh them raising rent every 6 months? It seems like this will continue to happen with every lease end/new lease signed. If possible, I would look for something that would allow a 1 year lease and ask how often you should expect rate increases.  

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I used to send all my laundry out to be washed and it was less than $100 a month. They even folded and hung it. There is value in the convenience of having a washer and dryer, but there is also convenience in paying someone else to fold your clothes. Haha

Answer 8

Have you checked with your state to see how much they are allowed to raise it yearly?  

Comments

@bravar7543 I agree with this. Where I live you can only increase the rent once every 12 months, doesn’t matter about length of lease etc. (and it’s a certain % of the current rent)

Answer 9

Talk to them! Compare in your area and take that ammunition with you? Are you open to signing another lease to reduce or keep the current rate?  

Answer 10

I would look more into it. Here in Oregon they are only allowed to increase your rent once per year.  

Comments

@schumer where in Oregon do you live? I used to live in Hillsboro

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@cliftonclim I am in Medford. Oregon sure is beautiful. What brought you to Arizona?  

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@schumer I had to leave my boys dad and my family is here. I haven’t been back since 2012

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@cliftonclim family is good, I have family down in Bullhead city. Can’t wait to be able to travel again and go down there.  

Answer 11

It depends on how much you like it and what the cost is to move

Answer 12

Girl where do you live?! We pay $1, 250 for a studio in CA  

Comments

@moreau we pay 1700 for a 2 bed and bath in northern va  

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@patellate1 holy crap. I pay 775 for a 2 bed/2 bath in az

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@moreau Yep. 1500 for a 1 bedroom in MA

Answer 13

Depending on your state they can not increase rent more then once a year. Also, wait a little bit cause congress is discussing wether to freeze rent and mortgage payments and to provide assistance to landlords and lenders

Answer 14

Do you need a 2 bedroom? Do you have kids? You might be able to find a 1 bedroom for less

Answer 15

Even most month to month leases require 30 day notices. I would check into the rental guidelines for your area and see what they say. Then look around and see what options are out there.  

Answer 16

When my husband and I were in an apartment it was cheaper for us to move into a larger apartment at the same complex with a year lease vs. 6 months. We were originally in a 1 bdrm for 6mth lease but the increase to renew in that apartment would have cost us more so we moved across the street into the larger one. I'd say its your short lease term that is affecting it. Check around.  

Answer 17

Can you negotiate the increase? I negotiated my rent increase last year. It was a $50 increase but I was able to drop it down to $30.  

Answer 18

If you can find something for less go for it. It may be best though to lock in a yearly lease