 Where do you think we would like to live in North Carolina? |
| We currently live in San Francisco, CA. We were recently married. My husband lived in CO for 12 years and me in SF for 12 years. We would like to be able to afford a house. We are used to living in a ... |
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 What does it take to buy your first home? |
How much money do you have to have saved?
Or do you get a loan for 100% of the home cost?
Etc. Any tips are welcome. Thanks. =)... |
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 Nasty landlord? |
| Well today is a tipical day . my bath tub ran over . *I could move, but I am a single mom that doesnt have any help . My switch box is shut off every day when i get home from work. my stove doesnt ... |
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 Landlord just passed away, can his childrens just kick us out? |
Good evening to all, i was wondering if anyone might be able to help me out with some info.
We been living at this location for 10 years. The place was originally rented, by verbal ... |
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 Friend is asking to rent an apartment for him. What are my risks? |
| My friend (with poor credit history and with poor judgement, IMHO) is asking me to rent an apartment in my name and sublet it to him. I want to help out, but I don't want to get myself in ... |
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 Is this true? |
My friend says she can make 100k and upwards being a realtor in the Southeast U.S.
Is this true, or is she mistaken? I just find it hard to believe that a two week course can produce that ... |
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 What are the rights of co-tenant's whom are not on the lease when the other tenant passes away? |
| landlord wants us out in three days but we need more time to get all of the belongings out. our roommate passed away from a long bout of ... |
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 For people that live by themselves, I'm 16 and wanna move out? |
| Dont tell me not to move out because your not in my situation and you have no clue how much depression i go through living with my family. I've told them about it for quite a while and they ... |
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 My Dad died and my Mom wants to sell me her house for $1.00. How does she go about it and it be legal? |
| My Mom doesn't want to bother with a realitor because she can't afford it and I can't afford to pay any more. She just wants a simple thing between her and I, but we want it to be ... |
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| What is a mortgage?? |
I know its to do with houses.
It may sound stupid, but I don't actually get what one is?
Or why do you need/get one??
Thanks in advance.... |
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 My landlord pays for water and I run the shower on full blast all night to drown out my neighbors snoring? |
| a problem he wont rectify, and i am currently waiting on a mediation date for. Can he force me to pay for the water use? Should I tell him I am using the shower as a noise control to force him to ... |
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 Can someone explain to me why it's the government's responsibility to bail out borrowers who were told . . . . |
| . . . .about ARMs and how they function? i keep hearing in the news how the government is supposed to step in and stop these ARMs from adjusting upward and freeze rates where they are still in their ... |
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 What do you do if a neighbor sabotages the sale your house? |
| Grandma left us her house on the other side of the country. We can't afford to keep it or even rent it out (rent prices too low, maintenance too high from far away). So we're trying to sell ... |
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 If I want to increase the rent of my tenant in the UK at the end of the agreement how much can I do it by? |
| Should such a clause have been included in the current teancay agreement or if I want to retain this tenat am I entitled to increse the rent by a certain percentage for the new tenancy agreement?... |
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 Should we buy this house? |
| My fiance and I have been looking at houses for the past four months. We finally found one in a good neighborhood that we can afford. The problem is it was built in the 1050's, and the furnace,... |
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 I purchased a home last October, 0% down.? |
| Will sending my mortgage company $3k towards my principle help reduce my monthly bill? By the way, I got a 6.375% rate for 30yrs. Should I try to refinance instead?... |
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 They want to keep our deposit! we havent even signed a lease!? |
They want to keep our deposit! we havent even signed a lease!?
we put a security on a house we were going to rent this past saturday, they don't want to give us back our money now. My ... |
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| If the bank of England raise the interest rate do house prices usually come down? |
| I'm hoping to buy a house this year and the Bank of England have just added another 0.25% to the ineterest rates. How does this effect house prices?... |
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NoName113 | Why do Apartments raise the rent on lease renewal? |
I'll make this short. Thinking of getting an apartment but I don't like how apparently rent is raised when a lease is renewed. From a business perspective the complex would not make more money because the tenant would leave. Additionally, the complex still would not make more money because a NEW tenant would be paying the introductory rate the PREVIOUS tenant initially paid. So how do they make money by raising rent and running off people essentially after one year? |
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Leash
 |
An introductory rate is just that, an introductory rate.
It is made lower than the actual rate the owner wishes to charge to entice people to move in.
The owner may offer an unusually low rate for the initial lease if he is having great difficulty finding a tenant.
For instance, he might even set the rate so low that he loses money, but this might still be better than not getting any money for several months while the room is empty.
Once the tenant has moved in, they are probably counting on most people not wanting to go through the trouble and expense of moving again just to avoid paying the rent increase. |
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Daniel C
 |
1. Because they can
2. Because costs have gone up in that year
3. Apartments dont' stay vacant long these days what with all the foreclosures; people have to live somewhere
4. Regarding the new tenant; while true, see #3. Maybe that tenant, in a year's time, WILL pay the higher rent to stay there. If not, let him go, get another, lather, rinse repeat. |
|
ooo
|
to cover raising taxes and the raising costs of repairs is why they raise. The intro rates usually lure people in then in a year the tenants are to lazy to move. Its a pain in the @ss to move all of your stuff, change all of your financial information and utilities so if the raise in rent is not drastic most will stay. |
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Butterflygirl
 |
It depends on the tenant. If they really WANT the tenant to be motivated to leave, they raise the rent. If you are a good tenant, they most likely will not raise the rent - unless, as you pointed out, they are stupid. If they happen to be that, then remind them that you have been a good tenant and by this rent raise you will need to find someplace else. Would they rather have a good paying tenant already in place, or would they like to have a vacancy? It could also be that they have no choice, but that happens when EVERYONE's rent is raised at the same time, not generally just when renewal comes around. Like when the insurance or property taxes go up, so does the rents.
What is a good tenant? As a landlord myself, I would say someone who pays their rent by the 1st of each month, doesn't bounce checks, doesn't call me a hundred time over stupid things, keeps the lease agreement, doesn't bother the neighbors or destroy property, doesn't cuss at anyone -including me, doesn't sneak in pets or keep garbage laying around, only uses their own parking space and isn't disrespectful of other people. |
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Heeey Steeeve
|
First of all, if you move out, the new tennant would pay the NEW rent, not the "old" rent. They do it at the end of the lease because that's when they can do it, i.e. they cannot raise rent in the middle of a lease. |
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skiingstowe
 |
Hi,
I'll keep it simple too! Heating oil just went from $2.50 a gallon to $4.50 a gallon, and that's just one of many expenses! Now you know why Landlords raise rent. They have to keep up with cost and repairs. We're just trying to stay in business like everyone else. |
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100% Organic Snark™
|
Most of them do, but it's usually only $10 or $20. The apartment I recently moved out of didn't raise my rent at ALL for the first two or three years. Then management changed and I started getting increases every year (and I was there for 9 years). I moved out of that apartment in March, not because of the rent increases, but because the new management was so shoddy, you couldn't get them to do routine maintenance, let alone repairs, without practically begging them every day for days on end. |
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Conrad
|
A few apartment complexes find the "perfect raise" that is large enough for them to make money, but small enough for them to keep their customers.
However, most apartment complexes don't actually make money by using these sorts of tactics. In business school, they're taught a lot of hard-and-fast rules like "raise the rent every year" and "only negotiate if the customer wants to leave". Individual apartment owners don't have access to aggregate statistics which would otherwise inform them of the futility of their strategies, and this is why they keep making the same mistakes over and over.
Another thing to keep in mind about the business world is that customer feedback is almost always given more weight than it should. If you complain to an individual apartment complex, they honestly don't know if you're representing 10 or 100 people who were too lazy or too angry to call or write to them, and so they err on the side of caution and usually change their policies. After all, they have to make a living just like the rest of us. |
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Arizona fun
|
Real estate prices are falling, foreclosures are increasing and more people are renting. Rentals are selling well while homes aren't. Supply and demand is the answere. Supply of rentals are lower than the number of renters due to economics now. Renters don't get to participate in the economics of the slow housing market other than to pay more for rent. It proves the saying, the rich get richer and the poor get poorer. You need to find a way to buy a house in this depressed market. It is expensive to be poor. |
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Big Sky 23
|
Because they can, and because tenants will pay it. And the new tenant would be paying the new rate, not the previous one. Whatever is written on the lease that is signed, that cannot change.
Yes, the tenant might leave. But there will be a new tenant right behind them ready to sign the lease with the higher rent, and VERY FEW units remain unoccupied for very long. Turnover is really not a big issue for apartments, it's expected that tenants will move in and out regardless of what the rent is.
If you don't like rising rents, then buy a house with a fixed interest mortgage rate so your payment will not change over the life of the loan. |
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sparksfly
|
LANDLOARDS PAY VERY HIGH COMMERCIAL TAXES THAT GO UPEVERY YEAR. THEY HAVE TO RAISE RENTS TO COVER THE TAX ( PROPERTY TAX) |
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cartman1231
 |
Because they can |
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