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Imagine living in a rent controlled house. If your landlord came you to and explained that he wanted to increase your rent because his mortgage payments are going to increase, would you agree to a rent increase to help him out, or would you refuse?
In this story, one tenant is in this exact situation, and he’s not sure what to do.
Let’s read all the details.
AITA for not moving out of my rental house or allowing my landlord to drastically increase my rent?
My Landlord has been a fantastic guy, someone whom I would consider a friend. He’s probably the best landlord I have ever had.
He came for a chat today and said that the 5-year turnover on his variable rate mortgage is happening in April, and that he wants to increase my rent because his costs are about to go through the roof.
He thinks he wants to increase my rent somewhere in the ballpark of $200 month, which I can’t afford.
It’s crazy to expect a tenant to voluntarily agree to a rent increase.
The thing is, I live in a rent controlled house. While I am still on the lease, he can only legally increase my rent 2.5% per year. Which is about $60.
I told him this and he said he wanted me to voluntarily accept his terms, which I said I would think about, but I gave him no verbal assurances that I would accept this voluntary agreement.
Several months ago I suggested to him that I might be moving out in may, but I have since decided that the rental market elsewhere is completely unaffordable for me. I want to stay.
He feels guilty about not agreeing to a rent increase.
If I stay, and I don’t accept his new rental rate, it means my very kind landlord’s mortgage payments are gonna probably eat him alive.
He’s well off and works a good job but TBH I feel bad sticking it to this guy, but I don’t see any other options. AITA?
Side note that he’s a great reference and this might sour things for our good relationship. 🙁
His landlord’s problems are not his problems. He should not agree to a rent increase.
Let’s see if Reddit agrees.
Here’s a warning.
A lawyer weighs in.
This person urges him not to feel bad about not agreeing to increase his rent.
But another person thinks he needs to answer a few questions to think through the consequences of refusing a rent increase.
The answer isn’t as straightforward as it seems.
If you thought that was an interesting story, check this one out about a man who created a points system for his inheritance, and a family friend ends up getting almost all of it.