What is a fair rent increase on a $1000. residential rental property?

Amanda
Other/Just Looking
Arcadia, CA

I rent a property in arcadia. This is my first year here in the home and the landlord wants to raise the rent by 150.00 dollars. Is this legal?

Answers (3)
Gene Glasco
Agent
91006

If the terms of your present lease agreement have been met, i.e. expired, the lessor--at their option--can renew your lease at the same level you were paying, or increase your monthly lease payment as they see fit. If the additional amount of $1,800.00 (assuming a twelve month lease period) factors higher than ten or twelve percent of what you were currently paying, you may want to consider looking for a more affordable home to lease elsewhere, or, if you can afford to, purchase a home and begin building building equity through home ownership.

Gene Glasco http://www.GeneGlasco.com

Sat Oct 17 2009, 18:49
Andy Bencosme
Broker
Sierra Madre, CA

Yes this is legal in Arcadia since there is no rent control and as long as you do not have any different provisions in your lease agreement. You can look at what the going rent prices are by checking rentals.com or realtor.com and see if this is a good rate for your area or too much.

Sat Jun 27 2009, 17:46
Homa Moaddel
Agent
Foothill Ranch, CA
FIRST ANSWER

Hi Amanda,

Yes, if you lease contract is up. And you should read what your contract says. If you sign a one-year lease agreement, the landlord has to honor the terms of the contract. If you have month to month lease agreement, at the end of the month the landlord has the right to change the terms and rise your rent. If you are willing to sign a longer contract you may be able to convince him to not rise the rent. If I can help you by providing you a list of homes leased in the past few months let me know. So you will know if you are paying a fair price.

good luck!!

Homa

Mon Jun 9 2008, 23:21

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