Unfortunately, rents are on the rise in Santa Clara County. As more and more families move to this county for available jobs (and also because the inventory of available homes for sale is currently quite low), homes and apartments for rent have seen an increase in demand.
Without working with a Realtor, your best bet to finding comparable rental rates in your area is to check the newspapers and rent.com to see what rent is being charged for comparable housing near where you're currently living.
Although I know you're not enamored with the increased rent being offered by the landlord or management company, keep in mind that, if you've been a good tenant, their increase is likely to be a little less than market so that they can retain you as a leasee.
I call it the fuzzy rope syndrome! you know, that fancy club with the fuzzy rope keeping you from going in and rubbing elbows with all the 'fancy' people...
that is what it is all about -- SF residents aint all surfers! and if you don't surf, why not live in Cleveland?
answer: because people are naturally egotistical - so drop your ego and lead a more relaxed life in the midwest - nobody thinks you are special because you live in sanfran
Yes rents are going up 5-10% a year in Silicon Valley.
Check sites such as http://www.craigslist.org or http://www.rentometer.com
Issue is supply and demand, Apartments are wanted by many, as they are cheaper than homes.
1 o 2 br, 1 or 2 bath, does it have car port, garage etc?
Lately most condo 2/1/ 800 sf near Oakridge with 1 car port is going for $1450 a month....
Be careful about negotiation he may raise it. Rents are going up.
All the best to you.
San Jose has rent control and my understanding (check with a property manager) is there is a limit of what can be raised per year 8%?
You can always try to negotiate with your landlord because if you move they will have a vacancy while they prepare the apartment. But because rentals are in demand they may still make up the loss.
All the best to you.
As far as Rent.com is concerned , it is difficult to find out the current market price for a particular square feet.
Can anyone estimate the market price of apartment which is 710 square feet in south san Jose , zip code is 95136 ?
The best and most reliable way to get accurate and reliable information for market rent in your complex is to hire a real estate appraiser to do a rent survey.
Accurate and reliable rental information is generally quite difficult and time consuming to obtain.
For the amount of money that is involved it may be worthwhile to hire a Real Estate Appraiser to perform an accurate rent survey for you and present the results of the rent survey to your landlord.
However, I recommend that you keep in mind that there is an enormous amount of upward pressure on rent in San Jose. As the economy rebounds, people are beginning to move back into San Jose to take advantage of the new jobs that are beginning to appear. That creates an enormous amount of demand for apartments and houses. That increased demand forces the rents and the prices of real estate upward.
It is possible that an accurate rent survey may show that your landlord is at current market rent and that there is an enormous amount of upward pressure on the rental market.
Also for the long term rents will continue to rise as the economy recovers and Real Estate prices will begin to rise substantially as the economy recovers. Rents and Real Estate prices are relatively low right now because of the problems that we have had with the economy for the past few years. However now as the economy is recovering we are seeing upward pressure on rents. That is the reson that rents are going up. As people move back to San Jose to take advantage of new jobs, that will also push Real Estate prices back up as well.
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The rents are going up a lot everywhere in San Jose so this is not just your case. It's the market right now and this is one reason I'm seeing more first time buyers. People are reviewing their options as renter vs. owner because the savings could be significant. You can check out Rent.com as well and this site lists the complexes with rental rates for 1, 2, and 3 bedrooms.