rent increase

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  1. #1

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    rent increase

    hi

    just a few views and suggestions i guess.

    my rent is up for renewal in three months.

    gave the landlord a call and they have said that rent will go up from 14.5k a month to 17k a month.

    presently living on the border of central and sheung wan. apartment is a new building, i have a mid level floor with a balcony and a decent size (two bedrooms, gross 693 square feet).

    i do like where i live (both location and actual living quarters).

    i have no idea what the market is like now, but is 17k a month for what i have decent value.

    thanks!!


  2. #2

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    Seems about right as a starting point but its all down to negotiation. Never accept the first position.


  3. #3

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    If the place is new and in good condition, it sounds in the right ballpark.


  4. #4

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    15-20% increase sounds reasonable these days...


  5. #5

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    Come to think of it, the OP's rise is 17%, same as mine. Probably worth trying to negotiate, depending on whether the landlord is an individual or a corporate (less flexibility in the latter, I suspect).


  6. #6

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    thanks guys.

    the landlord is tung wah hospital. no negotiation possible. there is a waiting list of about 200 people to get into my building as it is.


  7. #7

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    Depends how badly do you want your current place. It might be helpful for you to have a look around what else is on offer around your area.


  8. #8

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    Quote Originally Posted by sunniefaith:
    Depends how badly do you want your current place. It might be helpful for you to have a look around what else is on offer around your area.
    I second that. Unfortunately you actually might be getting a great deal. It is sad to think that a 20% increase is "normal".

  9. #9

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    Quote Originally Posted by Crocodile:
    I second that. Unfortunately you actually might be getting a great deal. It is sad to think that a 20% increase is "normal".
    that's the thing, for the location, age of property, size of property, etc, 17k is about right (the flat could easily fetch c. 20k a month).

  10. #10

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    Quote Originally Posted by pin:
    that's the thing, for the location, age of property, size of property, etc, 17k is about right (the flat could easily fetch c. 20k a month).
    Then....what are you thinking about and what's keeping you?

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