Apartment and Rental Properties - rent gettin raised
Doityourself.com community forum was created to provide answers to all questions related to home improvement and home repair. Doityourself community can help you find information about how-to topics on small fixes to large remodeling projects. With comprehensive how-to content and expertly moderated community forums DoItYourself.com makes it easy to tackle even the most complex home improvement projects.View Full Version : rent gettin raised
dapainter
04-10-08, 09:40 AM
Is there any law on how much a landlord can raise your rent in Il.
thezster
04-10-08, 09:43 AM
Nope - With proper notification prior to the expiration of your current lease. You always have choices... pay the increase - or move.
joed
04-10-08, 01:55 PM
Depends on where you live. I think some region are still rent controlled. That will limit the increase.
twelvepole
04-10-08, 03:31 PM
Read your contract. As indicated, unless a rent controlled property, landlords can raise rent as they deem appropriate. Rent controlled properties are limited to how much rent can be raised. Most renters sign a one or two-year lease, during which time rent can not be raised. After expiration of the lease, a new lease is drawn up or the agreement is on a month-to-month basis with stipulation re: amount of time for notice when moving out or if landlord decides to vacate the premises for whatever reason. If you think the amount of rent is unfair, you can try negotiating with the landlord.
Integrator97
04-13-08, 01:48 PM
How long have you been there, and are you a good tenant? If you've been there a while, and are a good tenant, you have something to work with. You are a known quantity. You have something to negotiate with. When I rented a house in CA for 2 years, and gave notice to move into new base housing, my landlord offered to cut the rent $100 a month if I stayed. The 2 times I needed something fixed, I did it and sent a receipt for parts. I was a low maintenance tenant.
Also, will you sign a longer lease. When I rented my first office/shop, it was $700 a month for a year. She said she would go $650 if I signed a 2 year. I said how about a 3 year, and we settled on $600.00 a month. Of course, for a house or apartment, you may not want to do this, but if you're talking about doubling the lease, the landlord may go for it.
If you move, what do they have to do, cost wise? For instance, in San Diego apartments they used to have to repaint, if you lived there over a year, and they could not take that out of your deposit. How's the market. Will it be rented and occupied within a few days or a week, or is it likely to be empty a month? Losing a months rent eats up a lot of increase.
Think about what you have to negotiate with. Remember to, that costs of maintenance and property taxes go up, so keep that in mind also. Some increase may be reasonable.
Also, will you sign a longer lease. When I rented my first office/shop, it was $700 a month for a year. She said she would go $650 if I signed a 2 year. I said how about a 3 year, and we settled on $600.00 a month. Of course, for a house or apartment, you may not want to do this, but if you're talking about doubling the lease, the landlord may go for it.
If you move, what do they have to do, cost wise? For instance, in San Diego apartments they used to have to repaint, if you lived there over a year, and they could not take that out of your deposit. How's the market. Will it be rented and occupied within a few days or a week, or is it likely to be empty a month? Losing a months rent eats up a lot of increase.
Think about what you have to negotiate with. Remember to, that costs of maintenance and property taxes go up, so keep that in mind also. Some increase may be reasonable.