 Rent increases (by Lynda K. [OK]) Apr 6, 2008 7:46 PM
 Rent increases (by Clara [MI]) Apr 6, 2008 7:51 PM
Rent increases (by JJ [OR]) Apr 6, 2008 9:08 PM
Rent increases (by jawja [GA]) Apr 6, 2008 11:15 PM
Rent increases (by Robert,Ontario,Canada [ON]) Apr 7, 2008 7:34 AM
Rent increases (by Lynda K. [OK]) Posted on: Apr 6, 2008 7:46 PM
Message:
State Specific Question About: OKLAHOMA (OK)
How much can a landlord increase rent? I moved in 5/1/07 with a rental agreement for 6 months. I received a letter advising me that my rent will increase effective 7/1/08. How much can they increase my rent?
Thank you
Lynda K.
kuene10@yahoo.com --64.149.xx.xx |
Rent increases (by Clara [MI]) Posted on: Apr 6, 2008 7:51 PM
Message:
They can increase it to whatever they wish. Your option is to pay it or move.
They gave you 3 months notice of the increase, so you have plenty of time to look elsewhere.
Good luck. --4.165.xx.xxx |
Rent increases (by JJ [OR]) Posted on: Apr 6, 2008 9:08 PM
Message:
A yearly raise in rent is common... sounds like you've been there 14 months... --24.21.xx.xxx |
Rent increases (by jawja [GA]) Posted on: Apr 6, 2008 11:15 PM
Message:
lately, taxes are increasing 5, 10% and if a county decides to do new appraisals for the first time in years and a property has the appraisal raised 20% (as happened to me 2 years ago), that could cause a huge leap in expenses. A LL has a right to raise the rent accordingly.
You could discuss it with them, or check out your state's tenant laws.
BTW, apartment complexes increase rent EVERY six months, if the lease is only six months long. Tenants balk at paying me $40 for an app fee and background check, but have no problem paying a corp LL (i.e. apt complex) $75 or more for the application. For some reason, tenants expect independent landlords to suck it up and not act as businesslike as the corporate LLs. Why do you think? --74.166.xx.xx |
Rent increases (by Robert,Ontario,Canada [ON]) Posted on: Apr 7, 2008 7:34 AM
Message:
If there is no rent control then the rent can be increased what the market will bear. In the province of Ontario there is rent control in the entire province which limits a rent increase to 1.4 per cent but if the landlords operating cost have increased then the landlord can make a above guideline increase to cover the increased costs in water, sewage, property taxes, natural gas, electricity along with the oosts for major repairs. No one is going to run a rental apartments at a loss where the operating costs are reducing the revenue for repairs and upkeep of the rental apartment buildings. Remember Landlords have constitutional rights to earn a living from rental apartments. If a tenant feels the rent increase is too much then the tenant can look for a cheaper rental unit. Here a tenant is given a 90 day notice for a rent increase. Thirty days to think about it then sixty days to give notice they are moving out where the tenant has not accepted the rent increase. After the ninty days the tenant has deemed to accept rent increase if the tenant has not moved out. Landlords do not control the price increases in property taxes, natural gas, electricity, water, sewage and expensive repairs to maintain the rental apartment buildings. Here when the vacancy rate goes down a lot of above guideline increase applications are made to cover the costs. If rent control is great then why are government owned apartment buildings exempt from rent controls. The government knows rent control is unworkable. --216.209.xxx.xxx |
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