It's time for me to renew my apartment lease and the landlords are suggesting an increase of 5.8% over the "current" rent price and ~15% over the "effective rental rate" (because I got a free month when I signed the lease almost a year ago).
I think is excessive but I don't have good references. The considerations I'm making are the following:
- There have been available units in the building for almost a year.
- Some of those available apartments are listed for a price similar to what I'm currently paying.
- For the new asked price I could get a similar apartment in similar condos with gym and pool (this one doesn't have anything) or in a way better area (closer to supermarkets, restaurants, etc).
- There has been almost no inflation during 2014-2015.
I would like to negotiate, should I? is the rate increase that they are offering normal?