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0 pointsGabriel541y ago0 comments

> Which one is it? Was the increase "substantial" or was it only 100 bucks?

A 100 increase over 800 is a 12.5% increase, which is substantial relatively speaking. In my case they wanted 150 over 800 which is an 18.75% increase. After I said no (as well as everyone else in the complex) they wanted 1000 which is a 20% increase. I have to say your comment comes off as condescending to me. For many people $100 may be the difference between being able to afford a home and being homeless. Now everyone has left, the units are all empty, and they are asking for 800 (after asking 950, then 900, then 850).

> Hindsight is 20/20. My guess is that the landlord thought the market was going to bear the price increase, and went all-in on it rather than only doing it on a portion of his tenants.

That is one way to describe it. Or, to describe what you said in other words, trying to squeeze every penny out of tenants, creating an inconvenience for five people (who would have probably rather stayed and put up with a modest 2-5% increase), then losing money after all because all of the properties are now vacant.

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gruez1y ago

> I have to say your comment comes off as condescending to me. For many people $100 may be the difference between being able to afford a home and being homeless.

The implication that $100 isn't a lot of money comes from your original comment, not me. After all, the thesis in your original comment was that the landlord risked a bunch of reliable tenants for a small rent increase. It wouldn't have made sense otherwise (eg. the landlord risking the current tenants for a chance of $500 rent increase).

Gabriel54OP1y ago

Now I see the source of confusion. I think $100 from the perspective of a tenant may be quite a lot (as mentioned a 12.5% increase). However as you said my thesis is from a landlord's perspective $100 is insignificant with all things considered. If even one unit were empty for two months, that would be an annual loss greater than the extra money they would make from the previous tenants. Also in our case they already have had a unit empty for over six months now which further baffles me.

Jensson1y ago

> However as you said my thesis is from a landlord's perspective $100 is insignificant with all things considered

$100 is often way more significant for the landlord than for you, for you it is a $12.5% increase, for the landlord after his expenses it could easily be 100% increase in their profits. The landlord could have a massive loan, and with increasing interest they needs higher rent to pay that, then there isn't much else they can do than increase rent.

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