It's located in Los Angeles, CA
2006-08-22 23:25:34 · 29 answers · asked by Anonymous in Society & Culture ➔ Other - Society & Culture
This is actually below the norm. Mine is ususlly 8% more for the past four years, after three years of being unchanged.
2006-08-30 23:20:40 · answer #1 · answered by Calvin of China, PhD 6 · 0⤊ 0⤋
No, not it all. In fact, it's very common and to be expected, especially in a place like Los Angeles.
According to the Los Angeles rent law passed in July 2006, If your apartment is rent-controlled, the owner can only raise the rent 4% per year UNLESS they pay for all of the gas and electricity. Then it goes up to 6%.
Check the first link in sources for everything you wanted to know about rent control in Los Angeles.
2006-08-22 23:35:20 · answer #2 · answered by lain_xiii 2 · 0⤊ 0⤋
Not if I owned it! You would pay and pay, then pay some more. Ah, and what I'd do with all that filthy money too! I'd just blow it all, never thinking about it. Five points over and against the main, seems a little low to me. Must be a law or something holding down the vig. Well that's going to change, I bet some landlord's lobbiest is working it out right now. I've heard apartments in L.A. were a good investment, but that sounds sort of shabby to me.
2006-08-22 23:36:15 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No I don't think so a common thing in Canada many apartment owners raise the tenants rent 3% every year! If you don't like an annual increase in rent simply move to a place that don't have that policy! I think the idea of annual rent increase is an attempt to stay ahead of inflation!
2006-08-28 22:58:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No its not strange, its Economics 101. By raising rents annually, investment companies stay in tune with the trends in the economy (your rent increase is based on the demand for available housing). Especially in L.A, where the demand for housing is high and the availability of housing is scarce, Its simply economics.
2006-08-30 22:58:45 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Nope. 5-10% increase is normal. Property owners have to pay increasing property taxes every year it seems so they pass it on to the tenants. I know rent increases are annoying. Unfortunately, we can't all find landlords that just want to keep the building occupied with tenants that take care of the property and pay the rent on time.
2006-08-29 13:44:25 · answer #6 · answered by E Y 2 · 0⤊ 0⤋
It's all about how the market is in the area you live in. If houses are worth a lot and people are paying a lot to live there, costs can go up even for surrounding apartment complexes.
2006-08-30 17:24:11 · answer #7 · answered by golds 1 · 0⤊ 0⤋
They would raise the rent for the following reasons: Greed and to keep the undesirables out.
2006-08-30 21:50:41 · answer #8 · answered by Anonymous · 0⤊ 0⤋
We had a apt in the Bay Area(5 yrs ago). A**hole landlord raised
the rent from 950.00 per month to 1550.00.
Ask me why I like Oregon so much more...LOL
2006-08-22 23:32:45 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Rents are dictated by ability of the lease. while you're on a 'month to month' the owner can legally develop the lease each month. via fact of this long term leases are only as substantial to the tenant via fact the owner.
2016-11-05 10:45:36 · answer #10 · answered by ? 4 · 0⤊ 0⤋