Why is my apartment rent raised this year and much higher than the past? Does it have to do with government household fee or something? Answers much appreciated!
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Why is my apartment rent raised this year and much higher than the past? Does it have to do with government household fee or something? Answers much appreciated!
It's raised because the landlord has analyzed the market and believes the new rates match what the market will bear.
Property taxes, maybe to cover new mortgages or loans taken out on the property as well. J B's answer is correct and it would benefit you to see if the new amount is in line with your community, but it does depend as mentioned above on where you live. Also I would check in to what is mandated by law in your area and/or in your lease. Sometimes it states that rent can't be raised more than a certain percentage per lease agreement. <--depending on where you are and the agreement you have signed.
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