I’m waiting for my landlord to call me any day now. I’m current on my rent and everything, but I’m approaching the end of my lease. That means I go month to month. He’s either going to want me to renew my lease or raise the rent.
No.
If you walk around my neighborhood, there are “For Rent” signs everywhere. This is a renters market. I could find another apartment for the same price if I wanted to move. Obviously, I don’t want to move. I would if I had to, though.
Here is the business case for his not raising the rent. If he raised my rent by $50 a month, that means a rent increase of $600 a year. If I moved out, the apartment would be vacant for at least a month while he found a new tenant. That loss of one month’s rent is more than the increase in rent he’d get. It would take him 15 months to recoup the rent lost by my moving out.
So yeah, he’s not going to raise my rent. He might insist on a new one-year lease, though. I’m okay with that. However, I want a new kitchen floor in return. The vinyl is pretty bad and a nice tile would be lovely. 