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Raising Rent Justifiable

Raising Rent Justifiable

What is a justifiable reason for a landlord to raise rent in difficult economic times?

Justifiable Rent Raising

Raising the rent in hard times may never be easy but as things get more expensive like water, electric, and gas the land lord may have to raise the rent to cover his own costs. Property value may have risen thus he has to pay more in taxes. This will always lead to a rise in rental fees.

Raising Rent Justifiable History & Civil Business Politics

To raise rent above the amount alloted by the government you have to prove you have invested large sums of capital the year before. New roof, toilets and showers in ever unit and repaving the driveways might fall into that category. It is not easy as you have to stand before the tenets and tribunal board and prove it is necessary.

Justifiable Rent Raising

That is something that makes the US and Canada a little different. here the landlord can raise the rent on a house or apartment after you go in to sign a new lease. A signed lease for six or 12 months can lock you in to set rent for that time period. After you intial lease is up you can go on a month to month basis but you will be more subject if a rent increase is planned. Most land lords give you a 90 day notice that rents will be increasing. This will give you to option of accepting the rental increase or finding another place to live.

Justifiable Rent Raising

In Canada when one person moves out you can double the rent if you can find one willing to pay it. Once that tenant is in usually 12 month contract, then renewed or month to month pending on the company. Increases even at that are annual and are limited to amount prescribed by the Rent tribunal.

Raising Rent Justifiable

Dang I wish we have a rent tribune down here. Many will raise your rates at a drop of a hat and you can not do much about it. This is especially true if you are renting a house.

Raising Rent Justifiable

It depends on what is included in your rent. If you pay all your own gas and electric then increases in those utilities would not justify a rent increase. Services such as water, sewer & gargage pick up are usually included in the cost of rent. As those prices increase it cuts into the operating costs and profit of a landlord. Landlords are entitled to make a profit otherwise it is not worth the headache. Property management can be a real headache, believe me. Everyone is effected by hard times. If operating costs increase too where there is little or no profit then it is justifiable to raise rent. Otherwise there is no money for maintenance and repairs and the landlord becomes a slumlord.
Regardless they should not be able to raise the rent until the current lease period has expired. At that time the tenant has the opportunity to agree to the higher costs or look for something else. There should be at least a 30 day notice prior to any rent increase.

Raising Rent Justifiable Politics Business Civil & History

In Ontario if you rent on a 30 day term, with no contract I think it is a 90 notice for rent increase for eviction or if the tenant leaves it is a 60 day notice.