Anybody have any helpful suggestions?

My mom is paying well over $1000/mo for a 2bd 2ba apartment. She's paying month to month without a signed lease, so obviously that accounts for some of it. However I believe when she signed on around 4 years ago the rent was about $650/mo.

Anything to be done other than bitch at the office/sign a long-term lease?

2/3/2014 2:58:29 PM

might not help, but i threatened to move out when i got a letter saying my rent would be increased. it hasn't gone up since. but i guess it depends on if the landlord has trouble filling vacancies and if your mom is a good tenant. generally they'd rather get a little less money each month if the alternative is get no money for a vacant unit.

2/3/2014 3:06:15 PM

There are definitely vacancies there. One apartment in her building took about a year to fill.

2/3/2014 3:07:12 PM

All you can do is threaten to move because the rent is too high. Then, if they dont budge, you either actually move or suck it up and they will know you are just bluffing.

2/3/2014 3:08:19 PM

Considering I have kept rent on all my properties static for over 4 years, an increase from 650 to 1000 is absurd. They are obviously landlords trying to extract every ounce out of the house. My advice would be to find an apartment that is suitable, then if she doesn't want to leave, give them the required notice and offer to renegotiate rent as an alternative to her moving out. If she has been a good tenant, paid on time, and not been a bother, they will negotiate. It takes a good bit of time to and money to turn around an apartment (they would probably lose 2-3k in the process), so it may be worth getting her on a long term contract as opposed to month to month.

if she wanted to stay month to month, I'd tell her to take a hike (landlords don't like month to month). I won't even accept anything less than 2 years.

2/3/2014 3:16:12 PM

i negotiated my rent once. this was back at kensington when they tried to raise my rent from 535 to i think 560. i basically just went to the office and told them i've never had a late rent payment and that i never needed any work/repair orders and i wanted to extend my lease another 6 months (till i graduated) and not have to pay the increase. they agreed.

other than that, i'd say just tell them that you expected a raise that didn't come. apartments only assess your financial situation when you first sign a lease, so with constant increases like that (sheesh 650 to 1000 in only 4 years????), its understandable given the way middle class salaries are basically stagnant.

If you think about it, its advantageous for them to keep a recurring customer because its no work on their part to keep you around, and they don't risk having a vacant unit for extended amount of time and/or bringing in a new delinquent/high maintenance leasee

2/3/2014 3:55:05 PM

Rhyne tried to renegotiate my rent a few times in the last house I was in. I was able to get them to forego the increase with a simple phone call. It would have been easier if she had nipped it in the bud each time they tried to increase it.

-Remind them of your payment history (assuming it's on time every month.)
-Remind them you're taking good care of their property.
-Remind them of the costs associated with relisting a property and the carrying costs associated with an empty property.
-Tell them you'll be forced to look at other options if they don't drop the increase.

In her case I think she should see what offers they're making to new tenants and argue based on that. I bet you'll get a better offer if you call the property manager and ask how much they charge for a similar property. With that in hand it should be a no-brainer when she threatens to leave assuming she has a good history with them.

2/3/2014 4:50:59 PM

Just curious, what is her reasoning for not being on a lease?

2/3/2014 4:55:44 PM

Not being on a lease is probably the sole reason she's paying so much. If you want month to month you have to pay.

2/3/2014 5:03:58 PM

^ that's kind of what I'm getting at. The lease protects both the landlord and the renter. Without the protection of the lease, they can charge whatever the fuck they want.

2/3/2014 5:08:17 PM

Why doesent she buy a Condo or Townhouse? There are decent 2 bedroom condos in Cary that you can buy and have like a $550 payment.

2/5/2014 10:42:37 AM

I can only assume if she's scared of a 1-year lease, she definitely wouldn't want to do a 15-30 year mortgage.

2/5/2014 10:47:18 AM

^^ This would be a good idea if she's planning to stay in the area.

Quote :

"^ that's kind of what I'm getting at. The lease protects both the landlord and the renter. Without the protection of the lease, they can charge whatever the fuck they want."

Don't forget it's a free market. They can charge what they want, but you're under no obligation to pay it. When you're not stuck in a lease you can pick up and move to a place that is cheaper, nicer, or in a better location should something become available.

Most landlords are not enthusiastic about having to prep a property for new tenants, advertise for new tenants, interview new tenants, and lose money every day that the property is empty. Then they have to contend with the possibility of losing a tenant who pays on time every month to some dipshit who will pay the first month's rent and then trash the place for three months as you go through eviction proceedings.

Point being...If you're a good tenant who isn't tied into a lease you have a lot of bargaining power whether you realize it or not. Don't let a landlord or rental agency push you around.

[Edited on February 5, 2014 at 10:51 AM. Reason : s]

2/5/2014 10:51:09 AM

^ good points. And if there are several vacant units in there already, the landlord will probably be willing to do whatever it takes to keep the tenants he/she still has.

2/5/2014 10:54:29 AM

If she lives in Raleigh there is high demand for rentals across the board. With mortgage rates around 4% she will definitely be better off buying as long as she can budget for maintenance.

2/5/2014 10:56:35 AM

Lobby the city for rent control?

2/5/2014 12:11:22 PM

2/5/2014 12:34:01 PM

Move

2/5/2014 12:47:10 PM

Buy something if she's in the Triangle. It doesn't seem financially prudent to rent in this area if she plans on staying long term. She's paying more rent each month than I'm paying a mortgage on my house.

2/6/2014 10:00:27 PM

Month to month is almost $400 more versus having a lease where I live now. Not sure why any would do month-to-month unless they're in a desperate situation and only need a place short term.

2/6/2014 10:08:17 PM

I've been a month-to-month client for probably 7 years, which was before I declined the rent increase I mentioned in my first reply. But I guess I just got lucky with a landlord that likes me, and isn't strapped for cash.

Quote :

"She's paying more rent each month than I'm paying a mortgage on my house."

That's pretty impressive. I pay basically $800 a month for a 1200-sf apartment in a nice part of town, but when I did some mortgage amortization on buying a condo somewhere around the time my rent went month-to-month, the mortgage and interest payments ended up being closer to $1300-$1500 a month for maybe a $200-$300k condo. It's obviously costing me in the long run because I'm not gaining ownership of a property for a decade of rent payments, but I'm still paying close to half of what I would've in a mortgage. But that was before 08 when the real estate market got all messed up and I haven't really been pricing options to buy lately.

2/6/2014 10:30:53 PM

3/13/2014 11:46:40 AM

1. Threaten to move out
2. Actually move out
3. Build your own apartment out of sticks and grass then charge the tenants too much

3/13/2014 1:20:10 PM