New management company is buying my building and all the units in it. I’ve loved living here, I think I’m protected until my current lease is up but I wanted to sign for another year and they’re raising rent an extra $675 (~1900 now raising to ~2600) per month.

They say they’re going to market and price them all as two bedrooms, even though they’re all one bedroom units.

While shady, greedy, and unfair.. I’m not sure they’re doing is technically illegal. Any advice?

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My advice is ask once to renew at a reasonable rate. If they say no, start looking for a new place or decide it's worth $8k to you to not move. They probably want to start phasing people out to convert to condos or something. Anecdotally, I hear more about these massive rate hikes from friends who live in big buildings. Sole proprietor landlords are less likely to jack up rent and lose tenants.

likehelpful

As a sole proprietor landlord this is correct lol
It costs me about $5k every time I replace a tenant (plus more if there’s any vacancy) - I will do anything I can to keep a good tenant in place. This year I raised the rent $15

How would that even work
Saying they are 2 bedrooms when they aren’t? Surely it’d be obvious to applicants?

In my previous condo, 3 walls and a door made a room. So my bigger-than-average pantry was considered a room in the listings lol

funny

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