Raising Rent In Lakewood

[davidd75]

what does  2 bedroom basement in one of the south side developments (sterling place , sterling forest , chateau park etcc) go for these days?

[av83]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

[aygart]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

I don't think it is true. I think you are able to raise it to 5-10% annualized which will make it over double if it is ten years.

[joe1234]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

I thought that when a buyer purchases a home that he will live in he can kick out the current renter…

[avromie7]

I don't think it is true. I think you are able to raise it to 5-10% annualized which will make it over double if it is ten years.

FWIU it's 5% per year since the lease expired up to 25% total.

[aygart]

FWIU it's 5% per year since the lease expired up to 25% total.

ah

[av83]

I thought that when a buyer purchases a home that he will live in he can kick out the current renter…

As per my attorney this is only true of the buyer wants to live there but if they are looking to rent it out they can not throw out current tenants.

[aygart]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

Here we have an example of why someone would raise the rent even if it is not needed at the time. The buyer will have a mortgage based on current house prices and the rent will be the rate from 10 years ago. I understand why he does want that disparity.

[aygart]

As per my attorney this is only true of the buyer wants to live there but if they are looking to rent it out they can not throw out current tenants.

Maybe he can evict them, use it for a few months and then rent it out again after? What are the time limits on this?

[avromie7]

Maybe he can evict them, use it for a few months and then rent it out again after? What are the time limits on this?

That's a royal PITA and he doesn't have any rental income while living there.

[aygart]

That's a royal PITA and he doesn't have any rental income while living there.

Yes, but it limits it to a number of months that he loses and then makes the additional rent to the current market. Also, once the alternative is to be evicted then the tenant may make additional concessions.

[knowitall]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

This is ridiculous. It’s your house. AFAIK, rent control in lkwd is only in certain cases. My understanding is that once the contract is up, you are free to do whatever you please. If your tenant isn’t a mensch, and doesn’t appreciate that you’ve given him a place to live, at way below market rent for years, then you shouldn’t go above and beyond for him. Did you talk to a knowledgeable Rav, to see if there is a halachic requirement as to how you must proceed?

[monkey]

I have tenants for close to 10 years and have never raised their rent. The time has come now that i must sell the property I have a buyer for a decent price but they only want it either if tenants sagree to pay a fair rent amount (about 1500 more then they are paying now) or I deliver the house vacant. I am being told that in B'D I will not necessarily be able to force on them more than a 5-10% increase and it will be very difficult toi remove them. Basically they are holding my house hostage. Does anyone have a good piece of advice for me?

I’ve heard from someone else in a similar situation, he explained situation to tenants and offered them a lump sum to move so he can sell.

[AsherO]

I’ve heard from someone else in a similar situation, he explained situation to tenants and offered them a lump sum to move so he can sell.

That is sick. They paid below market rent for 10 years and held the owner hostage, now they deserve a prize for playing (and in a sense winning) that game? הרצחת וגם ירשת? The standards for ועשית הטוב והישר should go both ways and the landlord has certainly held up his part of that.

[imayid2]

FWIU There may be a difference if you’re living in the home and renting out the basement. I heard this from a tenant who had his rent raised over the 5% annualized and spoke to a Dayan who told him this differentiation. If this applies in your situation you can clarify if this will help you. If you’re renting out the main unit it will not.

[Sammyonetwo]

That is sick. They paid below market rent for 10 years and held the owner hostage, now they deserve a prize for playing (and in a sense winning) that game? הרצחת וגם ירשת? The standards for ועשית הטוב והישר should go both ways and the landlord has certainly held up his part of that.

Why he gave them free money for 10 years is because he’s a tzadik, his tenant does not need to be and is not required.

Not you want to say he played tzadik for 10 years so now you owe more then Halacha or legal court???

Not sure how you see it different.

[drosenberg88429]

Why he gave them free money for 10 years is because he’s a tzadik, his tenant does not need to be and is not required.

Not you want to say he played tzadik for 10 years so now you owe more then Halacha or legal court???

Not sure how you see it different.

It's called being a כפוי טובה

[YitzyS]

In the sefer "Landlord-Tenant in Halacha" by Rabbi Baruch Meir Levin, dayan in Lakewood.

First he writes that you cannot evict a tenant, then he adds:
"Notwithstanding, in an event where the landlord stands to endure a substantial loss by the tenant remaining in the apartment, he may be halachically allowed to terminate the lease prematurely."

[Sammyonetwo]

It's called being a כפוי טובה

That’s assuming his tenants can actually afford higher rent without any issues to them.

I don’t think you have the right to assume that.

Halacha says this is what it is then it’s closed, they don’t need to go beyond what Halacha tells them because he did to them.

Especially if maybe they can’t afford more.

PS a married couple living in a basement for 10 years assuming they have a family is a pretty big sign one way.

[Euclid]

Especially if maybe they can’t afford more.

PS a married couple living in a basement for 10 years assuming they have a family is a pretty big sign one way.

I don't believe this is part of the halacha