Rent increase

We are currently at the end of our 1 year lease in a 2 family home. The landlord mentioned that there will be an increase for the upcoming year and she will further discuss it with me when we meet. I am concerned as since we moved in 1. We had a bug issue from outside and she had to call an exterminator
2. She had to replace the boiler
3. She had to replace a shower faucet, opening up a wall, and paint the bathroom due to a big leak behind the wall.
She is an older lady so she has her "handyman" take care of it. Obviously, it's an older place but I am just concerned all of her expenses are going to trickle down to us.
Also, she is a realtor so she knows the rules. Is there a cap on rent increase? What is reasonable? 5%? 10%? The place isn't worth more than we are already paying but I really don't want the hassle of moving! Tia.

Re: Rent increase

What does it say in your rental agreement as far as rent increases? I would expect something in the 2-4% range personally.

A bug contract is about 150.
A new boiler is about 2500.
Plumber costs about 150 per hour.
A gallon of paint is about $40 for Benjamin Moore.
Shower faucet low end $30 high end 200.

So from her end the apartment cost a lot in repairs. I would likely expect at least $100 a month increase.

Message edited 2/2/2016 9:37:56 PM.

Re: Rent increase

Rent increases are par for the course when you're renting. I'd expect a 5%-7% increase (possibly $100-200/mo), but it also depends on what the market is in your area. Unless your lease specifically states that there's a cap on an increase, which would be rare to include unless you specifically asked for it, she can raise it as much as she wants.

Re: Rent increase

You should probably do some research before your meeting and find some recent comparable rentals to present as fair market rent. If you were to move out that's what she would be getting.

Re: Rent increase

There is no limit as to what she can raise your rent to, as long as there are no limits stated in your lease.

I would do what the PP said and get comparable rent numbers from other similar properties in your area and be prepared to present that. If you think you are getting a "good deal" then expect a rent increase because your landlord probably thinks that as well.

Also your landlord is probably not stupid and knows it's a pain to move so she likely thinks she can raise the rent knowing you will stay.

Also the issues you mentioned really have no bearing on whether the landlord wants to raise your rent or not. If you bring issues up to the landlord, the landlord has to correct the issues in a reasonable amount of time. These issues don't have anything to do with a rent increase.

Rent increase

As pp said, there is no rent increase limit, unless it's in your lease. From my experience, $100 increase per month every year is pretty standard.

Rent increase

Thank you all.