Due to COVID-19, rent for apartments went down pretty much everywhere.
But they could be on their way back up very soon! Would you be ready if your rent suddenly increased? If you’re like most people, probably not. Here’s a few ways to be prepared.
It's really important you know your rights as a renter to prevent your landlord from violating them. Some cities have limits on how much rent can increase per year, or how much notice you’re entitled to if they are planning to raise rent. There could also be eviction protections.
If they raise your rent TOO MUCH, some cities even make your landlord pay for you to move somewhere cheaper! There are other options too, though.
If you don’t want to move but your rent is still too high, you can sometimes negotiate rent with your landlord. It might seem far-fetched, but some landlords would rather negotiate than lose a good tenant!
Some landlords refuse to negotiate or even follow the law – so you might need to get help.
There are organizations, like tenant unions, dedicated to helping people with their rent! A housing lawyer could support you. Or a mutual aid fund could help.
Make sure you’re ready for coming rent increases by being proactive – know your rights as a tenant and get the support you may need so you and your family are prepared!