Does your rent keep going up?

F1980

F1980

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My friend is paying $1,600 a month for a one bedroom apartment in Las Vegas. Up from $1,450 last year.
 
No but my property tax goes up one percent per year.

I think in California there's rent control that only allows landlords to raise rent five percent per year or some shit.
 
Yes. The algorithm said my landlord can charge more.
 
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That's how it works. I've never really understood it. They usually start rent low and raise it every year until it's too high and you move. Then they start over again. Wouldn't it make more sense to raise it just a little bit then only slightly raise it to keep the tenant instead of starting low again?

My last apartment at least did that. The shitty part is even when you get a house, your mortgage is similar to rent where it goes up almost every year even with a fixed rate because of taxes and insurance. Even if you pay off your house, property tax is due every year and almost always goes up. My started at $800 and is up to almost $2000 now.
 
Mine was fine before COVID. £800pcm for four years, but raised it to £850pcm two years ago and £950pcm last year.

I really wasn't happy about last year and let them know, but I accepted it, with conditions of a two month break claus all the way through, as I wanted to look for a property.

I bailed on the idea in October due to lack of a deposit, and started again this month due to a pay rise and more deposit. If it looks like I won't be in my own property by then, I'm moving anyway and putting off buying for another year.

I don't speak to the landlord, but the estate agent was fine for the first four years. A new employee took over two years ago and I don't like him. Basically says that he is coming to inspect without discussion, and says that I don't have to be there for it. I initially said yes on the day and to give a heads up on arrival, so I can be there for him. Someone else gave a time, he didn't arrive, so I called up head office and told them that I've gone out, I don't want anyone in the property without me in it and that I feel second class.

To be honest, I'd be surprised if the landlord decides to renew anyway.
 
nope, has been the same for the last 10 years!
 
yes, rent and other things pricing up is what history learned us will happen constantly until the end of the economy as we know it
 
I paid 16 grand down on my house to keep payments low. But hoa taxes and especially property insurance ruined that. Eh Im still paying less for a 3 bedroom 2 story house on a lake than the 1 bedroom shack I looked at in Miami in 2007. If you can own do it cause renting sucks.
 
I feel for people renting. I was paying similar rates for my mortgage that people were paying to rent when I bought my house 10 years ago, now people renting are paying double what I do.
 
scorpiorising said:
I paid about 8,000 in prop taxes this year...hate those bitches
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I'm close to $8k a year now. Fortunately in California property tax increases are capped to two percent per year. It's crazy how some of my neighbors are paying $2500 a year on a house that's valued at $800k.
 
Wrath of Foamy said:
Mine was fine before COVID. £800pcm for four years, but raised it to £850pcm two years ago and £950pcm last year.

I really wasn't happy about last year and let them know, but I accepted it, with conditions of a two month break claus all the way through, as I wanted to look for a property.

I bailed on the idea in October due to lack of a deposit, and started again this month due to a pay rise and more deposit. If it looks like I won't be in my own property by then, I'm moving anyway and putting off buying for another year.

I don't speak to the landlord, but the estate agent was fine for the first four years. A new employee took over two years ago and I don't like him. Basically says that he is coming to inspect without discussion, and says that I don't have to be there for it. I initially said yes on the day and to give a heads up on arrival, so I can be there for him. Someone else gave a time, he didn't arrive, so I called up head office and told them that I've gone out, I don't want anyone in the property without me in it and that I feel second class.

To be honest, I'd be surprised if the landlord decides to renew anyway.
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Check your lease.

Landlord can not inspect without consent or emergency where I live. It is written in the lease here.
 
TeTe said:
No but my property tax goes up one percent per year.

I think in California there's rent control that only allows landlords to raise rent five percent per year or some shit.
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Allowable rent increase changes every year here. For 2024, it is 2.5%, which is same as last year. That's higher than it typically is. It was 0% & 1.2% in 2021 & 2022 due to covid, but from 2010-2020, it ranged between 0.7% & 3.1% (2012, the only year it was over 2.5%). I know this because I have a few investment properties.

Meanwhile, my property taxes went up 10.5% in 2023 and 3.67% this year.

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TeTe said:
I'm close to $8k a year now. Fortunately in California property tax increases are capped to two percent per year. It's crazy how some of my neighbors are paying $2500 a year on a house that's valued at $800k.
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I'm in Vancouver Canada where the chinese wash their money in housing.

I'm in a nearly 3 million dollar TEAR DOWN house. I'm not even joking or exaggerating. I'm not even in Vancouver, in a close suburb. Nice area, but still.

The red face is where I live approx
 

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