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charles604 | How can rent increase? Does the number of people in a house increase rent? |
I just want to know what factors increase rent. I know that rent does increase yearly, but what else factors in the increase of rent?
Hypothetically... if 6 people live in a 2bd/2ba apartment, does the rent increase significantly?
Additional Details
That was hypothetically speaking... the leaseholder of where I live wants to add more people to the apartment so I was just wondering if that would increase rent.
Thanks for the heads up too. Now I can bring up that it is illegal for that many people. |
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Ron Berue
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When the county, school or municipality has an increase in real estate taxes or the cost of services - such as sewer and trash - there is an increase in the rent.
If the landlord's expenses go up for any number of reasons - including but not limited to the rising rate of inflation - the rent is increased.
If the landlord is paying for your heat, water or any other services or utilities and those costs rise, ther is an increase in the rent.
If the landlord has repairs to the property which are outside of the amount budgeted for those repairs, the landlord can increase the rent.
If the landlord feels like raising the rent, the rent is increased.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name! |
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PhatCat
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Well the more people you have in the house then you landlord has the right to increase it because of increased wear and tear and increased utility cost. Other than that, it's based on market prices, what can be charged will be charged. |
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jerryw6@sbcglobal.net
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Usually it stated in a lease how many people are allowed to live at the property. If there is a lease and it says this , then they have violated the contract, this gives you the right to serve them a 5 day eviction notice. If there is no lease involved then you will be required to give them 30 days that you're increasing the rent, and they will have to vacate the property or pay the increased rent amount, but 6 people in a 2 bd ? there's no rent amount that will cover the damage that's going to accur to your property. You cant desciminate against children, but you can legally set limits to how many people reside on the property |
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Classy Granny
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No landlord that cares about his/her property is going to rent to that many people in a 2 bedroom house. The units I have for rent, I pay for water. The more people the more showers and for that reason more rent would be required. |
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Chris
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I agree with Ron - anytime the costs of the investment (upkeep, taxes, insurance) go up, or if the landlord wants to collect additional $ towards unforseen expenses, so will the rent as the landlord will pass it on to you - typically you can count on 10% per year -
It really is illegal for 6 people to live in that small an apartment - does your landlord know? Have you guys ever considered a rent to own option where part of your payment goes to the down payment so you are building equity in the property instead of paying someone else's mortgage - you could get a 3 bedroom probably comparable - contact a Realtor in your area and discuss the situation and see what your situation allows- good luck |
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cvkl
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just ensure that an ENTIRE 3-MONTHS notice is given to you...IN a FORMAL LETTER!!! from the landlord increases rent...ie. If a lanlord wanted to increase the rent & you were only informed of this at any point in February (it has to be on or before the final day of the month) rent could be increased NO SOONER than JUNE 1st! |
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*Cara*
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Does your landlord know you have that many people in there? I'm sure thats illegal right there.
But to answer your question, its basically the cost of living that goes up every year. My rent was just raised due to the "high demand" in my area. Its just a part of renting. |
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forsandw2008
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The number of people should not increase the rent. I have noticed that each year I renew the lease on my apartment the rent is increased, HOWEVER, if you are a great tenant and cause little to no problem generally this can be negotiated. |
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kelly
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taxes and the cost of living such as electrical and water and trash pick ups things of that nature |
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yatesjl35
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No, the rent should not increase because of the amount of people, but it is illegal for that many people to live in a 2br home. |
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