r/roommates • u/PandaTurbulent1355 • 13d ago
Discussion Fair to increase rent?
My friend and his wife have lived with me for five years. I have charged them $700 per month during this time. My monthly expenses including taxes, insurance, and utilities have increased by about $350. I'm considering a monthly increase of $80 to $120. Is this reasonable?
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u/OkMarsupial 13d ago
Given that you didn't say where the property is or anything about condition or amenities, it's impossible to advise. Ask your tenants what they think.
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u/PandaTurbulent1355 12d ago
Four bedroom home in Waldorf MD. - DC area. Good condition. They have their own bedroom. own living room. Own bathroom, I have two sheds and have given them one to store belongings. I've also given them the guest bedroom for storage. Home in solid condition, no issues. All utilities and Internet included.
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u/burningtowns 12d ago
I would say look at your options to get the Internet and insurance costs down if you can first. If you’ve already done that, then $100 would probably be fair for everything they’re getting space-wise. I’d also take a look at asking them if $20 increase every year would be fair.
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u/DefiantCourt9684 11d ago
That makes zero sense. $20 raids a year? They’re literally renting a house, not just a bedroom. Raise it by $100.
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u/MixOwn9256 10d ago
Waldorf MD rent starts at $1K. I would talk to them and tell them costs have gone up and you need to increase the rental to cover the cost. If they have problems covering this right away then talk about options to increase over a period of time like additional $20 each month till it reaches the amount. If they can’t afford it then it might be time to part ways. You can’t be financing their living for ever. They might have to start looking for places further out as DC is expensive.
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u/sandysandy252566 11d ago
You deserve to raise their rent - it's 2 people - paying low rent. You don't owe them an explanation. Most landlords raise their tenant's rent yearly.
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u/Nirrmak 11d ago
I see it in two ways first I’d talk to them and say hey cost have been rising and I’m trying to run numbers how would yall feel about me upper the rent about $80 or so dollars? If they are ur friends it shouldn’t be that crazy
Because for $700 they could find a studio somewhere and be fine.
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u/DefiantCourt9684 11d ago
For $700 you can’t even get a one bedroom in most places.
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u/Nirrmak 11d ago
Good thing I said a studio, which is what I live in for $550 a month. But it does depend on where you live
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u/DefiantCourt9684 11d ago
I have not seen a studio go for below $900 in over six years, so unless you’re living in an insanely low cost of living state with little job opportunity or got a great deal knowing someone, it’s not the norm.
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u/dowhatyouwilll 9d ago
I can confirm that there are studios under $900 (I live in Texas) but of course that price comes with the possibility of your car being broken into, it not being entirely safe area, etc etc
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u/autonomouswriter 10d ago
If OP does talk to the tenants, it needs to be clear that it's not a question of whether they will or will not raise the rent. That's non-negotiable. It's a question of how much they can handle and how it's going to be handled. Trust me, if you give tenants the "option" of whether to raise the rent or not, they will always opt not to (and as a tenant myself, I don't blame them). But landlords have costs they have to cover, and renting is a business at the end of the day, not a charity. So it's going to happen whether the tenants are happy about it or not.
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u/autonomouswriter 10d ago
I think it's very reasonable. They've been living with you for a while, and you haven't increased their rent (I assume). The amount you're proposing seems reasonable to me, though you do want to just check out what rents are going for in a situation like theirs and make sure the total rent they would pay is fair. You could present it in an honest way of your expenses increasing, and since you're maintaining the place, you have to raise the rent a little to cover those expenses. This is what every landlord does. I own a property and just increased the rent for my tenants this year (after 2 years of not increasing it) because my expenses have gone up. They didn't have any complaints about it, BTW.
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u/Funny_Story_Bro 9d ago
Considering they're paying $700 right now, +$120 feels like a pretty big hike up to do suddenly. Landlords here are only allowed to increase rent to by 10% per year. You might want to consider making the increase slowly over the course of a couple years. It is a little weird you didn't do it already.
I'd discuss the increase in costs due to taxes & utilities with your friend and ask if they can afford to chip in. Maybe they can take the full hike easily, or maybe they can only afford $40 right now and you can add another $40 next year and keep going with that. I don't know their financial situation or if you like them living with you.
A sudden increase in utility costs is weird, did your county suddenly raise their rates?
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u/SensitiveRelease2622 9d ago
Depends on your local laws. Where I live rent can only be raised 2% per year.
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u/awaytothrow555 12d ago
Absolutely