At our old house, our rent was going to go up by $20/week once our lease ran out. We really didn't think it was worth it so we moved instead! Lol. Now we are living in a house almost twice the size for the same price (before it went up), although we moved to a town an hour away!
What are the property values like where you live? Our landlord hadn't really done much to the property to justify the increase in rent, but I think it would also depend on surrounding property values, the fees the real estate charge for property management and interest rates (particularly if they are still paying off a mortgage on the property). I know it sucks
Make sure they have given you the correct notice period..I didn't think they could increase rent until your lease ran out? Or they would have to give you a fairly significant notice period if you are still in a lease agreement.
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