Rental increase (by Pk [OK]) Jun 22, 2011 4:55 PM
Rental increase (by Robert,Ontario,Canada [ON]) Jun 22, 2011 6:02 PM
Rental increase (by Reid [KS]) Jun 22, 2011 7:44 PM
Rental increase (by Pk [OK]) Posted on: Jun 22, 2011 4:55 PM Message:
State Specific Question About: OKLAHOMA (OK)
Does anyone know if there is an Oklahoma state law on how much a landlord can increase the rent after the lease is up? --70.165.xx.xx |
Rental increase (by Robert,Ontario,Canada [ON]) Posted on: Jun 22, 2011 6:02 PM Message:
In the US rent control is a municipal issue which applies to a specific town or city not a provincial issue or state issue. In most rent controlled jurisdictions the quality and quanitity of apartments and rental houses is lower where the rent is higher as government intervention makes matters worse. Remember one can only get what the market will bear so if the quality and conditions of the rental is lower then the market standard then one will have difficulty renting. One needs to check with the city or town to see if there is rent control which is very unlikely. Most rental housing providers usually increase rent 2 or 3 per cent per year to cover increases in operating costs. It is very difficult for a tenant to bear a 10 to 20 per cent rent increase in one year. So one may have count on the tenant leaving then having to rent the unit which has to compete with other rental units. One needs to look at a newspaper to see what a comparable rental unit is charging and what is included in the rent. One must also count that the rental unit may need considerable upgrades like renovating a bathroom, kitchen along with replacing flooring before the rental unit can be rented. This will cost a considerable amount. Most the problems that rental housing providers are unique with area where the rental units are located. The main problem here with the legal rental units in the apartment buildings are operating costs are higher then those illegal ramshackle apartments in houses where there is no fire walls, no fire alarms, no wired smoke alarms and no fire door with closures on the suites. Legal rental units are paying property tax on each rental unit not on a single family home. The insurance company which insures the rental buildings will not insure the illegal rentals in houses. As the months move forward the hostile provincial government is more then likely to voted out as many of the policies and taxes are unpopular. There is the economy then tenancy advocate groups. Another way of increasing rent is to look at separating out all the utilities such as hydro electric, natural gas along water and sewage. That will lower operating costs which is increasing the net operating income. This easy to do on a vacant apartment. --74.220.xxx.xxx |
Rental increase (by Reid [KS]) Posted on: Jun 22, 2011 7:44 PM Message:
Not entirely sure about Oklahoma but in Kansas you can squeeze'em till they squeak. You just need to be sure that you don't make moving preferable to staying. That is often a fine line. You need to carefully study your position in the market you are in . --99.117.xxx.xxx |
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