That's probably not what you wanted to hear, but in most places I hear apts are going up anywhere from $200-$400 a month on renewals. That's how much demand there is here for property. You'll often see rentals go the first week on the market. We actually have seen this summer tenants bidding over list price for properties to tie them up.
You might want to check first to see what rates are in the area. If you are paying less than market, and I'll bet you are, then you might let sleeping dogs lie and undisturbed.
SFR-Certified Realtor / Broker
214-783-4240 | Mike@MosaicDFW.com
Susie Kay, RealtorÂ®
GRI, CHMS, SFR
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
Servicing your real estate need is my priority!
However this may also identify that your landlord is receiving less then typical market value since in the last 2 years there has been a spike in rent rates. You may find that you should negotiate the length of your lease for what you are paying if you have intentions to stay instead of a decrease in payment due to the current market trend.
Finally, you may also find that due to the lowest interest rates of all time, that a monthly mortgage payment on a town home purchase would be less then what you are paying in rent. That may also be a solution to lowering your monthly costs. It wouldn't hurt to get with a local loan officer to see what you would qualify for and what your monthly mortgage payments could be.
However with that said it does depend on what you are paying now and weather that is the current market price.
Nick Walton, RealtorÂ®
Keller Williams Frisco Stars
Your Frisco Realtor
Cell / Text: 469-556-2393
Do you realize the owner does not pocket 100% you pay in rent. Have you consider owner is required to pay :
3. Property taxes
4. HOA - if it applies to your area
5. Repairs of the property
Leasing is an all time high with properties on the market at best 5 days. Average rental for Frisco 319 homes lease in MLS Jan- May monthly of $1906
Owner probably would make additional money per month if you moved
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
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