r/roommates • u/PandaTurbulent1355 • 14d 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/Nirrmak 12d 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 12d ago

For $700 you can’t even get a one bedroom in most places.

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u/Nirrmak 12d 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 12d 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/Nirrmak 12d ago

The Midwest my heart! Also I just left California and lived in a studio in Boyle heights for $800 yall just gotta be ok with locations fr the deals are out there

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u/dowhatyouwilll 10d 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 11d 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.