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Almost got in another landlord fight
So my landlords send the new lease over the weekend and I was wondering why they were sending it so early since we don't renew until September. Then I notice it's a 60 day rent increase notice of $100 per month.
Ummmm...no. House prices have gone DOWN here again, not up. House value has not raised, so no I will not pay more rent. I called her and explained to her that just because she has an ARM mortgage and their interest went up, raising their mortgage, that does not mean we will cover that.
Was ready to tell them that they could stick it and we'd move out when our lease was up, but she quickly changed her tune. I think she reaized if she lost us she still wouldn't be able to charge anyone else more rent and she'd loose money trying to cover it.
Geez louise! We are good, easy renters. Why are they making this so hard. I swear they don't know how good they have it with us!
Always Painted,Usually Chipped
Disclaimer - This is not a nail polish blog.
Re: Almost got in another landlord fight
We're hoping to not move again. We move so much with H being active duty military anyway. We lived in an apartment when we moved here until we could find a house and I want to stay there the whole time until our next base.
Our furniture is really freaking heavy (I don't know what I was thinking when I bought it) so moving us is like moving a family of 6 or something. In military we're always spending weekends moving each other, but I know people hate moving our furniture so I just want to stay put.
Our landlords are just making it hard on us for some reason. I don't think they've had renters before and they don't know that they have it so good with us. Who knows.
I so don't want to live in Knoxville though and when that move comes up I'll be super excited. I will gladly tell them that we are leaving!
What's funny is that we already pay $100 over what market value would be just because I didn't want to look anymore and I love the screen porch.
I feel bad for the people, but they were the ones that got the ARM and refinanced to pay her medical bills. They pay like $1550 for a house that if you bought now it'd be like $1100. (We currently pay $1200 so I know it sucks, but we would have been in the same boat if we rented the house we owned in Charleston. We ended up sellign and taking the $20K hit at once instead of a little each month).
I freaking hate renting, but I don't want to buy and loose again. We could cover that once, but we'd have a very hard time covering a loss that big again.
Ugh! How did you know about the ARM? Well at least you knew you had some leverage since your rent is already higher than the market. I'm glad they were smart enough to change their tune.
Just from being in the real estate business it was easy to figure out. She put a little note that said "our mortgage went up so you're rent is going up". The only way that could be possible is to have an adjustable rate (and I know interest rates just went up here).
Luckily when I called her and calmly explained the situation to her she instantly said she's send me a new lease (which she did). I think she was hoping I'd just be dumb enough to sign it, but knew that I wouldn't since she caved so quickly.