For people that rent accommodation, does your rent go up yearly?

[prod]

And if so, by what %?

I haven't rented in a really long time and not sure what is the norm these days.

For reference, the question is being asked with Cape Town Northern Suburbs in mind, but I guess all answers are useful.

 

[Gtx Gaming]

Mine did go up when I was renting, they once did not even sent me a notice, just went up next month lol

But yeah there is quite high demand in cpt, so landlords will take advantage. Even more if it is pet friendly accommodation.

Most listings I heard have multiple people applying etc, sometimes even a line people waiting

 

[prod]

Mine did go up when I was renting, they once did not even sent me a notice, just went up next month lol

But yeah there is quite high demand in cpt, so landlords will take advantage. Even more if it is pet friendly accommodation.

Most listings I heard have multiple people applying etc, sometimes even a line people waiting

I'm renting out a property in CPT and it's a moral dilemma between making more money and being an ******* to my tenant by taking advantage of the demand.

But I’d rather keep a good tenant at the end of the day

 

[chrisc]

I rent out both houses and flats

The increase is usually about 8%. In two flats, the Managing Agent levy plus Council fees jumped from R2800 to R4100 in one year. For an R8000 rental that is a huge increase. The rental increased from R8000 to R9600 so the tenant gave notice. A week before she was due to leave, she confessed that other places she had seen were even more expensive, so she is staying

Similar sized flats (3 bedrooms, 105 sqm) go for R12 000 - R14 000. They sell for between R1.5m and R1.8m

 

[Mike Angelo]

Scummy agents want 10% but 5 to 7.5% is reasonable. I've always negotiated with the landlord for 5% and usually got it. I've also never stayed less than 3 years at one place execpt for one time where the agents paid the owner first and were always late with the rates and w&l payments to the municipality which resulted in monthly power disconnections.

 

[prod]

Scummy agents want 10% but 5 to 7.5% is reasonable. I've always negotiated with the landlord for 5% and usually got it. I've also never stayed less than 3 years at one place execpt for one time where the agents paid the owner first and were always late with the rates and w&l payments to the municipality which resulted in monthly power disconnections.

Yea 5-7% is what I'm aiming for. Last time I rented (probably around 2017) I got a standard 10% each year

 

[Ninja'd]

Last landlord was nice, no increase for the four years I stayed there.

 

[RedViking]

I've always been renting. I refuse to rent a place that has an agent involved. They are scum of the earth slithery snakes. Rent usually goes up 5-8%, sometimes less with negotiations.

 

[Quixotic]

Usually time to move on when it's 10%. The 10% is just a max. It should be close to inflation and should always be contested. Should not allow landlord's greed or lazy agents to prevail.

 

[Mike Angelo]

Yea 5-7% is what I'm aiming for. Last time I rented (probably around 2017) I got a standard 10% each year

I get 5% with my present landlord but she only puts it up every second year so we do 10% every second year which is also ok.

 

[prod]

I've always been renting. I refuse to rent a place that has an agent involved. They are scum of the earth slithery snakes. Rent usually goes up 5-8%, sometimes less with negotiations.

The big reason I use an agent is because I'm not in SA at the moment, she does take 10% commission but I don't necessarily put that burden on the tenant. In return she does everything for me, even yearly inspections.

Trying to manage a property from overseas is a PITA.

 

[Ninja'd]

Trying to manage a property from overseas is a PITA.

 

[icantchooseone]

I get 5% with my present landlord but she only puts it up every second year so we do 10% every second year which is also ok.

if you ever vacate make sure do do it in the middle year

 

[purrr]

I have a good tenant that pays on time. I offered 4% for renewal. 10% is standard in rental contracts and borderline criminal imo.

 

[Lupus]

I have a good tenant that pays on time. I offered 4% for renewal. 10% is standard in rental contracts and borderline criminal imo.

That 10% seems to be the standard besides yearly salary increases

 

[Mike Angelo]

if you ever vacate make sure do do it in the middle year

Sort of thinking along those lines as we might need a 3 bed place if circumstances change within the next few months..

 

[Herr der Verboten]

I rent out both houses and flats

The increase is usually about 8%. In two flats, the Managing Agent levy plus Council fees jumped from R2800 to R4100 in one year. For an R8000 rental that is a huge increase. The rental increased from R8000 to R9600 so the tenant gave notice. A week before she was due to leave, she confessed that other places she had seen were even more expensive, so she is staying

Similar sized flats (3 bedrooms, 105 sqm) go for R12 000 - R14 000. They sell for between R1.5m and R1.8m

Capitalism the self defeating and self eating snake?

 

[icantchooseone]

Sort of thinking along those lines as we might need a 3 bed place if circumstances change within the next few months..

are you planning to get a cat or a dog ?

 

[Mike Angelo]

are you planning to get a cat or a dog ?

Not too sure as I don't think I can deal with having to pts another fur baby. My daughter is living with us and has a contract expiring shortly. If she gets a permanent / long term job she will need an office so 3 bed or study will be needed.

 

[icantchooseone]

Sort of thinking along those lines as we might need a 3 bed place if circumstances change within the next few months..

i thought you were planning a baby