Money Matters
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Reasonable rent increase?

We live in the suburbs of a HCOL area and just got notice that our rent will increase by over 9% even with a 14 month renewal (we have been living here for a year). Is this reasonable? It does appear that rent has gone up in the area, but this seems a bit much. Should we try to negotiate? We can afford the increase, but really don't want to pay it!
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Re: Reasonable rent increase?

  • I live in DC. When I rented my rent predictably went  up 10% each year (the max allowed under DC law for most rental situations).

    So I don't think 9% is particularly unreasonable. That doesn't make it any less crappy though. There is no harm in trying to negotiate. The worst that happens is they refuse and you have to decide whether you'd rather deal with the hassle and expense of moving or suck it up and pay the increase. 

    "We tend to be patronizing about the poor in a very specific sense, which is that we tend to think,
  • Have you researched comparable apartments? You can try to negotiate, but if it is the new going rate you'll likely have to suck it up or downsize. 

     


  • I suppose it is good to know that it isn't unheard of. I was spoiled and rented a room in a shared house for a few years. It was a great neighborhood, super cheap, and he never raised the rent. Ah, the good old days.  I will see if we can negotiate it down some.
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  • My rent in a MCOL city in the Midwest has increased at least 10% every year for the four years that I've been a renter.  One year it was 12%.

    There were some times that I was able to move to a cheaper apartment, but when comparable apartments aren't cheap enough to cover the costs of moving you don't have much choice but to suck it up and pay the increase.

  • The going rate definitely seems to have gone up. Hmm, maybe it is time to start stalking realtor.com again.
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  • The rental prices in my town have increased quite a bit over the last few years (university town that is doing great economically.....a rarity in the midwest, so rent prices reflect that).   However, we have rented our house for 5 years, with no rent increase.   The landlord loves us, and knows we take care of the house as if it were our own, so she promised not to raise our rent unless property taxes increase significantly.   The 9% increase sounds reasonable, but it wouldn't hurt to ask if that is negotiable.   Just be prepared for them to say no.
  • image katiepoppy:
    I suppose it is good to know that it isn't unheard of. I was spoiled and rented a room in a shared house for a few years. It was a great neighborhood, super cheap, and he never raised the rent. Ah, the good old days.  I will see if we can negotiate it down some.
    My only experience was DH's apt that I moved into. He didn't have any rent increases for 7 years! When I moved in, the landlord raised it $50 to $550. It was a steal for a 2 BR apt with a view of the bay in a very desirable town.
  • Renting has become much more popular with the housing decline and more people no longer in their homes. Supply and demand alone will increase the rent.
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