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Tenants worried landlords will not renew their lease

Posted on 7/8/24 at 7:17 pm
Posted by ItzMe1972
Member since Dec 2013
12209 posts
Posted on 7/8/24 at 7:17 pm
I've been a landlord in Lafayette for many years. And I've never had this happen before.

Lately numerous tenants have contacted me about their leases which come due late this year. Their question is "Will you renew my lease?" I told them yes, but they should expect a $100-220 increase.They seem to be relieved.

Not sure why this is happening, but another landlord told me he is getting the same call.

Any guesses?

Posted by Drizzt
Cimmeria
Member since Aug 2013
14881 posts
Posted on 7/8/24 at 7:35 pm to
Houses are at or near all time highs. Tenants are probably just worried older landlords are going to cash out and sell the homes to BlackRock.
Posted by faraway
Member since Nov 2022
3571 posts
Posted on 7/8/24 at 7:35 pm to
my lease ends this month. landlady didn't go up
Posted by LSU1018
Baton Rouge
Member since Feb 2007
7362 posts
Posted on 7/8/24 at 7:58 pm to
With insurance being at an all time high, many landlords are cashing out if they don’t think the rent can support going up.
Posted by SEC. 593
Chicago
Member since Aug 2012
4356 posts
Posted on 7/9/24 at 6:41 pm to
Which it most likely can't in many areas.
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