I am located in San Mateo CA. Despite all of the local/national news of real estate decline, I have noticed that my Land lord is only raising rents.
I live in a small 5 unit building. I rent a 1 bedroom. Several months ago, my neighbor moved out of her unit, the same size as mine. Durring the move out, my land lord asked me what I thought she could rent the room for. I know that another neighbor of mine pays 100 dollars less than I do a month, for the same size unit. Without answering her, my landlord told me that she was going to rent it out for 75 dollars more than what I rent it for currently. I found that odd, as again, the market seems to be in a decline. Low and behold, the unit was rented for the amount advertised by my landlord. Keep in mind, this is a 1 bedroom apartment, approximately, 450 square feet. The new tennants moved in, but I noticed that there are 4 adults. I have not mentioned this to my land lord, as I am sure she is well aware of this. But I feel like as a single person, I am getting squeezed out of the market. Can she rent a 1 bedroom apartment to 4 adults? Basically they have 4 incomes to cover the rent, which is more than what I pay now. Taking this example, what stops a land lord from continuing this practive, upping the rent everytime someone moves out, and just cramming more people into an undersized dwelling.
I live in a small 5 unit building. I rent a 1 bedroom. Several months ago, my neighbor moved out of her unit, the same size as mine. Durring the move out, my land lord asked me what I thought she could rent the room for. I know that another neighbor of mine pays 100 dollars less than I do a month, for the same size unit. Without answering her, my landlord told me that she was going to rent it out for 75 dollars more than what I rent it for currently. I found that odd, as again, the market seems to be in a decline. Low and behold, the unit was rented for the amount advertised by my landlord. Keep in mind, this is a 1 bedroom apartment, approximately, 450 square feet. The new tennants moved in, but I noticed that there are 4 adults. I have not mentioned this to my land lord, as I am sure she is well aware of this. But I feel like as a single person, I am getting squeezed out of the market. Can she rent a 1 bedroom apartment to 4 adults? Basically they have 4 incomes to cover the rent, which is more than what I pay now. Taking this example, what stops a land lord from continuing this practive, upping the rent everytime someone moves out, and just cramming more people into an undersized dwelling.
