My family is considering renting a house in Pleasant Hill, CA for $2,300/month. Our prospective landlord has offered us a two-year lease at that rent and then it jumps to $2,500/month if we decide to stay beyond the two years. We love the house, but that seems like a really steep hike. This is the first time we rent a house so we don't know if this is normal or if he's ripping us off! Anyone have any experience/advice in this area? Thanks!
Anonymous
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I don't think you would be getting ripped off. In fact, you would be lucky locking in a rate for 2 years. If in 2 years your financial situation cannot afford $2500, then move. But, be aware, rentals in 2 years may all be around the $2500 mark for what you want or even higher.
I would take it if that is the going rate for the neighborhood and square footage.
Steve D
depends on the market. If rentals are a hot item in that area, you are getting a good deal considering you are locking in the original $2,300 for two years. If you sign a one year lease, I would expect the landlord to raise the rent each year $100, putting you at $2,500 after two years and having paid an extra $100 for a full year.
Χαλαρά
Well if you're happy with the house for $2300 now, rent it for a couple of years. The rent hike after two years would be 8%, that's not outrageous.
Big Deal Maker
Well that is really a pretty fair deal. You get to know what the increase of the rents are before your term ends. It is like looking into the future, The increase is not a bad deal, Nor is a great deal. However he may be able to get more today if the economy was in better shape.
?
GO with a apartment. In an apt, you are not able to do something with it and in mine (that I use to reside in), they'd a prohibit on what number of image frames you cling at the wall. You are not able to paint and the partitions in a apartment are constructed extra soundproof than in an apt. Trust me I realize! :) Hope I helped, please until you are inclined for any individual else nearly controlling the way you behavior your house, I propose you pass with a apartment.