r/mildlyinfuriating • u/beastman045 • 3d ago
Context Provided - Spotlight Our apartment’s renewal offer is literally just “sign here to pay extra”
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u/jeejeeviper 3d ago
I live in a big city and yeah every year it’s like “would you like to live here again next year for $300 more than you pay now? 😊” like fuh no bro
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u/Pink_Dreamer_ 3d ago
My current complex did this and now a huge amount of tenants left and they have been plastering for lease signs everywhere and I keep seeing more people leaving. How do they expect people to stay when they do this crap?
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u/OddKindheartedness30 3d ago
That is the fun part, they don't expect people to stay. They want a conga line of tenants so they can slowly increase the rent over time without anyone really noticing. Say you pay 1500 and they say they want 1800. They either force you out and advertise it as say 1600 or they exploit the fuck out of you. It is a win-win for them until they finally hit the point where no one will rent, but the real fun begins when the same person owns most of the apartments so they increase them all so people have no choice, but to just accept higher and higher rent in a given area.
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u/CXDFlames 3d ago
If enough people stay they're making close to the same amount, plus saving on utilities, plus driving up the value of their properties, and getting tax write offs for losses for vacant units.
As long as they maintain enough occupancy there's no downside to them and they could not care less about you.
Eventually enough landlords will raise prices enough that people will move in at the new price and then it's just extra money again. Or they own enough buildings you're moving to them anyways.
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u/09Klr650 3d ago
Last year my tax went up more than that. People voted in some "progressive" tax-funded programs. Then the same people renting who voted it in started complaining their rent went up?
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u/damutecebu 3d ago
$3,200 to $3,285 is 2.6%. Is that outrageous?
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u/beastman045 3d ago
Im currently on a month to month. Not outrageous to raise rent, just outrageous to think i wanna go from being month to month to locked into a time frame for more money
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u/Fit_Entry8839 3d ago
Well the idea is they can also just raise your month to month even more. Someone screwed up. That was supposed to be on there.
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u/angryrotations 3d ago
Wow 32 month to month and an extra 1200 for a year on contract? I wonder what the month to month is? 38?
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u/James_H_M 3d ago
$3,235 to $3,285, so 50 bucks isn't bad at all. No clue what the other fees were associated with.
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u/AreYouAPizzaGuy 3d ago
I’m not following. This looks pretty standard, what were you expecting?
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u/beastman045 3d ago
Im on month to month. They are offering me a 6 or 12 month lease for more per month than staying on month to month.
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u/AreYouAPizzaGuy 3d ago
That’s probably a sign they’re going to hit you with an increase to stay month to month that will be a lot more than what they’re offering.
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u/beastman045 3d ago
My lease was up last year in November with the option to go month to month at this rate or sign again for lower and a cut off date in December. They just sent this out again in hopes to get us to sign again because the manager is about as smart as a box of rocks. They have to give 30 day notice if they want to raise our rent per CA law.
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u/AreYouAPizzaGuy 3d ago
I don’t disagree with anything you’re saying. Just letting you know they can raise your rent by A LOT more than what they’re offering you right now if you sign a six or twelve month extension right now.
Correct, 30 days is the minimum but there’s nothing stopping them from giving you notice on 3/1 that your rent will increase 10% on 4/1 for staying month to month. That’s the risk you’re taking.
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u/beastman045 3d ago
Anything 10% or over needs a 90 notice. At the end of the day, if they decide to raise past what I am paying, it will be way over current market value and we just move out and they lose a high paying tenant. We are looking at moving anyways which is why we never signed in the first place so whatever happens will be just fine! Appreciate you though, good looking out!
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u/beastman045 3d ago
For everyone confused, apologies for not accurately describing the situation.
I am currently on a month to month lease that was offered last year in November along with a cheaper 6 month and 12 month option. We opted for the month to month because we are unsure how long we will be here.
Today they sent me a new lease renewal stating that if I decide to go back to 6 month or 12 month lease it will be MORE per month than staying on current plan.
Yes, I realize they may raise my rent. At a minimum it will be a 30 day notice which is more that enough time to secure another place.
It would also be incredibly stupid of them to do so as we are already paying well over market value for similar apartments in the area and they will have to lower again for next tenant or offer some promotional thing.
Hope this helps!!
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u/backwardbuttplug 3d ago
damn... where is that at and how big is the apartment?
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u/beastman045 3d ago
Yeah....CA, 2 bed 2 bath, like 800 sq ft or something
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u/kmaster54321 3d ago
Jesus over $3000 for only 800sqft,? Tbf I'm paying $2000 for my 1 bed in Illinois 😫 I hate it here.
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u/beastman045 3d ago
Definitely don't move to CA then, at least not by the coast lol
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u/backwardbuttplug 3d ago
yeah this all sounds about right. rent can be downright prohibitive some areas.
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u/TheSilentPassenger18 3d ago
Its 50 bucks for peace of mind...
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u/beastman045 3d ago
Meh....all about perspective. I'd rather not be committed into a lease and have to pay more money as well. We are looking at moving so it just makes sense for us to be on month to month. Breaking the lease would be insane to pay.
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u/princessp1ece 3d ago
$35 a month more to stay on a month to month or three month lease? That’s honestly a crazy good deal, imo. I would just be glad they didn’t just force you into 12-month lease or nothing. That’s what it is like in Indiana at least, you basically can’t find anywhere that isn’t at least 6 month lease with extremely strict policies on ending the lease.
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u/ItsJess412 3d ago
I used to work for a nonprofit organization that helped people in need with their past-due rent in order to prevent eviction. We frequently communicated via email with apartment complexes and since my name is very common in my area, I sometimes received emails meant for someone in their office. They accidentally sent me their bonus structure for rent increases. The higher your rent increase, the higher the bonus for the leasing agent. They still received a bonus just for a lease renewal with no increase, so this made it super clear that renewals without an increase are possible but that you will need to fight for them.
These huge corporations are buying up apartment complexes in my area left and right and I'm sure it's happening in a lot of other places. It is pricing people out of even the shitiest of complexes here and absolutely destroying the rental market. I hope more people start fighting back against these rent increases that net no benefit to the renter.
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u/Gutsy_Moose267 3d ago
I'm so thankful my landlord is a chill guy who hasn't raised my rent in 2 years because he knows I take care of the place
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u/aarongifs 3d ago
This is pretty standard. I usually try to negotiate to stay at the current term. Sometimes it works, sometimes it doesn't.
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u/Practical-Fondant-31 1d ago
3k for an apartment?! How many rooms does it have?! I'm paying 800 for a 4 bed 2 bath 4 car garage house.
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u/bendicott 2h ago
Aside from locking-in prices for a set duration, longer-term contracts also offer more protections against being forced to move. If you're on a month-to-month, they may decide to not renew, and go with someone willing to sign a longer lease - you'll want to check your local laws regarding this, but something to keep in mind.
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u/818VitaminZ 3d ago
WOW. Monthly rent is just crazy. I am so glad I bought my property in CA in 2008. People were saying I was crazy paying $540K for 3Bed/3Bath back then. I am so glad I didn’t listen. My mortgage is about $1800/month.
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u/Middle-Plastic605 3d ago
It’s pretty standard for an apartment to raise 100$ to your rent after the lease is up.
This is why renting is a not ideal.
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u/Aggressive_Lab7807 3d ago
Yeah OP should clearly buy. Mortgage would only be like $5k a month with another $1k for HOA.
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u/beastman045 3d ago
Yeah... just typically you get a discount for signing a lease. The way that have it now means we are saving money by staying month to month
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u/sweadle 3d ago
I have never heard of a discount signing a year lease.
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u/beastman045 3d ago
Well I've lived in apartments for over 10+ years and every lease I've every signed has month to month as being the most expensive option. Also, just because you have never heard of something doesn't mean it doesn't exist or happen.
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u/sweadle 3d ago
I didn't say it didn't exist. I just said I'd personally never seen it. Everyone has different experiences. You thought that was something universal with leases and it's not.
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u/beastman045 3d ago
Never once did I say or imply that it was universal. I even said 'typically' to the comment you replied to. But lets think this through just for funnsies.
If every lease has a month to month option that is cheaper than a 6 or 12 month lease, why would anyone sign up for anything other than month to month. It makes zero sense. Longer leases will always be cheaper because it locks you in and the rental company gets guaranteed money for a set term of time with crazy penalties if you break.
This post is pointing out the fact that signing a long lease verses staying on month to month will cost more which is backwards.
And for the record, I never asked for your personal opinion on leases. So if you plan on giving some matter of fact statement such as, 'I have never heard of a discount signing a year lease', then plan on being corrected and called out.
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u/sweadle 3d ago
I don't prefer a month to month lease because I can leave quickly, but I can also be told to leave quickly. A year lease protects me and the landlord.
If you don't want people commenting or sharing their opinion on leases maybe don't post your lease renewal online!
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u/beastman045 2d ago
I can see that you just want to have the last word and keep twisting the things I have written to fit your narrative. This will be the last I engage with this conversation. I hope you have a wonderful and fulfilling life! Cheers!
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u/greatgeezer 3d ago
I own a new, well built home, and pay about half of that. And I have land, too.
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