Why do apartment complexes raise rent each time you renew your lease?

Question

Im a good tenant. No complaints from anyone and Im quiet. Always on-time with my payments. But each time I renew my lease they raise my rent. I moved into this place under a great deal but now its a lot more than I should be paying for the amount of space. I could find a larger place for the same rent but I dont want to move. Whenever I look online I see the apartment complex advertising the same space for much cheaper than Im paying. Why do they do this and how can I negotiate a better lease when I go to renew it so they dont raise it again?

Answer 1

The only thing you could do is to take a 3 year lease.  Don't do it.  You will soon be a home owner.  When the time is right , you'll know it./

Answer 2

all aprtment complexes do that. They say Cost of living increase but thats bull. they have you in there and they know that it will cost more for you to move out than to just pay the increase. The best way to negotiate a lease is one cite all of the things that have gone wrong in your apartment that dissatisfied you and secondly tell them that you can not afford that increase.

Answer 3

he wants money

Answer 4

Ask them for the same rate they're giving new unknown tenants.  All they can do is say no.  A lease is for a specific amount of time.  At the end of it either you or the landlord can suggest new terms.  His new terms are a higher monthly rent.  You can counter with the same rate others will be paying...others who could be terrible tenants.  You're a known commodity, and he may be willing to give you the same rate rather than have another empty apartment that gets him no income at all.  What have you got to lose?  Will he refuse to renew your lease if you ask and he says no?  

Answer 5

Their taxes go up every other year. Their maintenance costs go up

annually.

etc.

WHY NOT negotiate to pay 6 mo in advance and keep the lease

at the old rate?

Answer 6

You were the recipient of that "great deal" for new tenants when you first moved in and now you complain when they offer the same terms to someone else?

Their strategy is undoubtedly to move tenants slowly up to market rate over a few years, hence the annual increases. Look around your area for similar apartments and I would bet that over 3 to 5 years you will be paying the same.

They bet to hook you with the introductory rate and get you settled-in and liking the place. People generally hate to move, so by the time they raise it to where it "should" be you will have roots there.

I think it's a great strategy to insure long-term residents.

Answer 7

You gave the reasons why they do it in your question.

first, they want to get people to see they offer a nice place to live.  What's the best way to do this?

     "the apartment complex advertising the same space for much cheaper than Im paying"

Get you in the door and living there to see what it is like.

They want to keep people in the apartment.  What's the best way to do this?

     "Nothing wrong with my place or any dissatisfaction"

     "The neighbors are great and its quiet here."

Both good reasons why people will pay more to stay there.  

Ultimately, the best reason people stay is because when people live at a place they like they all have the same feeling...and that is:

     "I dont want to move"

All your answers were right there in your question.