The Rent's Too Damn High!

Brian, Bickford, Danak, and a rather lewd strawberry from Plant City. 

One of our members is facing a $30 increase in his rent due to unspecified increased expenses. Since there haven't been any renovations to the building, we weren't sure what those added expenses might be. Taking a look at the property appraisal* online, we noticed there was actually a slight decline in the property taxes for the building. He is going to use this information to try and negotiate the rent increase.

                           *There are two different assessed valued for a property. One of which is an    

                            appraisal that you pay for to determine the value of a home that you are going to 

                           sell. The other is performed by the county, to arrive at a tax-rate. There are  

                           potential limites as to how much that value can increase if the property is being used 

                           as a homestead. This shields you from having dramatically increased payments on 

                           the property you live in. 

In the case of the building in question, the property taxes for this building have probably lowered the total tax bill by between $500 and $1000 a year. This means that those "increased expenses" may have do with a situation outside the property, like renovations on another property, or gambling debts, or perhaps an out-of-control Faberge egg habit. 

On a more serious note, the landlord may be trying to recoup losses in equity (from a loss in the value of the property) by raising rents. 

It is unlikely that our member will be able to negotiate this down too much, however he might be able to take a look at what rents in the area have been doing. If they have been declining or staying the same, this may be some sort of leverage. Ultimately, this may be a futile exercise, but it may be useful practice in the art of bargaining and self-advocacy. 

Next week we really need to take a look at a buy. What's up with Norway? Oh, and the Sequestration, and stuff. 

Profit!