Huge spikes in rent?

[Dunerookie]

Isn’t there a limit on how much rent can be raised in a given year? I thought it was 10%. Could be wrong.

[JC]

EconProf, I agree with you and I did shop around. My problem is that have a dog and many places will not even consider one. So, yes I was willing to pay a little more for her. (She is worth it). I am ready to move and no way would I pay that kind of rent for where I am at. I’ve seen a number of places go up by a substantial amount (not as crazy as mine) lately. It seems a bit of an odd move at this time, but I am not a landlord and not as savvy on this stuff. I have seen lots of these places with increased rents listed month after month and I do see more and more rental signs in my hood every week. Of coures, this is a pretty subjective assessment, so I was wondering if anyone else was seeing this.

P.S. No 600lb tables or wine collections yet. Want a decent place first. 🙂

[JC]

EconProf, I agree with you and I did shop around. My problem is that have a dog and many places will not even consider one. So, yes I was willing to pay a little more for her. (She is worth it). I am ready to move and no way would I pay that kind of rent for where I am at. I’ve seen a number of places go up by a substantial amount (not as crazy as mine) lately. It seems a bit of an odd move at this time, but I am not a landlord and not as savvy on this stuff. I have seen lots of these places with increased rents listed month after month and I do see more and more rental signs in my hood every week. Of coures, this is a pretty subjective assessment, so I was wondering if anyone else was seeing this.

P.S. No 600lb tables or wine collections yet. Want a decent place first. 🙂

[JC]

EconProf, I agree with you and I did shop around. My problem is that have a dog and many places will not even consider one. So, yes I was willing to pay a little more for her. (She is worth it). I am ready to move and no way would I pay that kind of rent for where I am at. I’ve seen a number of places go up by a substantial amount (not as crazy as mine) lately. It seems a bit of an odd move at this time, but I am not a landlord and not as savvy on this stuff. I have seen lots of these places with increased rents listed month after month and I do see more and more rental signs in my hood every week. Of coures, this is a pretty subjective assessment, so I was wondering if anyone else was seeing this.

P.S. No 600lb tables or wine collections yet. Want a decent place first. 🙂

[JC]

EconProf, I agree with you and I did shop around. My problem is that have a dog and many places will not even consider one. So, yes I was willing to pay a little more for her. (She is worth it). I am ready to move and no way would I pay that kind of rent for where I am at. I’ve seen a number of places go up by a substantial amount (not as crazy as mine) lately. It seems a bit of an odd move at this time, but I am not a landlord and not as savvy on this stuff. I have seen lots of these places with increased rents listed month after month and I do see more and more rental signs in my hood every week. Of coures, this is a pretty subjective assessment, so I was wondering if anyone else was seeing this.

P.S. No 600lb tables or wine collections yet. Want a decent place first. 🙂

[JC]

EconProf, I agree with you and I did shop around. My problem is that have a dog and many places will not even consider one. So, yes I was willing to pay a little more for her. (She is worth it). I am ready to move and no way would I pay that kind of rent for where I am at. I’ve seen a number of places go up by a substantial amount (not as crazy as mine) lately. It seems a bit of an odd move at this time, but I am not a landlord and not as savvy on this stuff. I have seen lots of these places with increased rents listed month after month and I do see more and more rental signs in my hood every week. Of coures, this is a pretty subjective assessment, so I was wondering if anyone else was seeing this.

P.S. No 600lb tables or wine collections yet. Want a decent place first. 🙂

[EconProf]

As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.

[EconProf]

As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.

[EconProf]

As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.

[EconProf]

As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.

[EconProf]

As a landlord for many years, I’ve found the best policy is to discover the average market for my units, then ask slightly less and be very picky about chosing tenants. I also raise them slightly each year, always keeping them under (presumably rising) market comps. Tenants are told up front of this policy.
Yes, I’ve seen foolish landlords ask for higher than market rents and then sit on vacancies for a while, or else rent to dregs as tenants. Can’t cure stupid.

[(former)FormerSanDiegan]

[quote=Dunerookie]Isn’t there a limit on how much rent can be raised in a given year? I thought it was 10%. Could be wrong.[/quote]
The limits on rent increases apply only to month-to-month leases. For longer-term leases (either 11 months or 12 months is the cuttoff I believe) there is no legal restriction.

Where is someone paying only $750 for a 3/2 ? Is this in El Centro ?

[(former)FormerSanDiegan]

[quote=Dunerookie]Isn’t there a limit on how much rent can be raised in a given year? I thought it was 10%. Could be wrong.[/quote]
The limits on rent increases apply only to month-to-month leases. For longer-term leases (either 11 months or 12 months is the cuttoff I believe) there is no legal restriction.

Where is someone paying only $750 for a 3/2 ? Is this in El Centro ?

[(former)FormerSanDiegan]

[quote=Dunerookie]Isn’t there a limit on how much rent can be raised in a given year? I thought it was 10%. Could be wrong.[/quote]
The limits on rent increases apply only to month-to-month leases. For longer-term leases (either 11 months or 12 months is the cuttoff I believe) there is no legal restriction.

Where is someone paying only $750 for a 3/2 ? Is this in El Centro ?

[(former)FormerSanDiegan]

[quote=Dunerookie]Isn’t there a limit on how much rent can be raised in a given year? I thought it was 10%. Could be wrong.[/quote]
The limits on rent increases apply only to month-to-month leases. For longer-term leases (either 11 months or 12 months is the cuttoff I believe) there is no legal restriction.

Where is someone paying only $750 for a 3/2 ? Is this in El Centro ?

[Author]

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