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If inflation+2% is an acceptable rent change, I don't understand how needing 12 months or more to increase rent is a problem. The only thing a shorter time peri
by lelandbatey 3y ago
If inflation+2% is an acceptable rent change, I don't understand how needing 12 months or more to increase rent is a problem. The only thing a shorter time period allows is a landlord to say "well, over this past 3 months we saw inflation change by +-0% but 0+2 is still 2%, so we're increase rent 2% in the next 3 months period".
And that doesn't seem like a good possibility.
- Ekaros 3y ago12 months seems rather extreme range to me. So what would happen is that you rent a place, day after you move in you get notice that yes we are going to increase rent by maximum in a year. After all this is the most logical and effective time to do it. Now cost might not increase as much in year from that date, but landlord does not know. Come next year, they again also don't know, so again max allowed at time. But instead, if you can notice rent increase let's say 1 month before year is full, they might look at what are current cost and think oh, I could do with lower increase.
- standardUser 3y agoOne option is to require multi-year lease options. Most commercial leases work that way. That creates a lot of stability and predictability for the family, just as it does for businesses.
- Ekaros 3y agoMy basis is continuous contract with let's say 3 or 6 month clause of termination under limited reasons. Like purchase or taking unit to use by family. Or something like large renovation...
- bombcar 3y agoCommercial leases are also likely to be triple net and other things; if you want a multi-year residential lease you can get it but will pay a premium.
- standardUser 3y agoYes, give families the choice. Some will choose a lower price with less stability (like me, a single dude). Others will choose a higher price for long-term stability (such as a family of 5).