[quote=flu][quote=Jazzman]^^^ 15% in one year?! Sounds more like gouging than market research.[/quote]
The question is whether the OP was way below market or not….
If the asking rent is way out of wack with market price reality, then all he has to do is move… Rent prices can’t be *that* out of wack from market prices…..I don’t think rent gouging really works if there’s no demand for it at that price…. The question is whether a comparable rental is less… Is it?
And the other question.
Was he the only one that got the notice. Maybe his rent was way below market versus everyone else.[/quote]
It’s very difficult to comment further without the OP’s input, but I find it hard to believe landlords in soCal rent way below market rent. People will pay more than they can afford just to keep a roof over their heads, and Landlords who play on this are unscrupulous. If they over-paid or RE prices are highly-inflated, they can’t expect tenants to bail them out. But as I said, we’re short on numbers and facts here.
