Not all landlords are created equal.
Some will help you lock in low rental rates, allow you to rent-to-own, and will even assist you in upgrading your situation without paying through the roof.
Others will trick and connive and squeeze every last penny from your pockets.
In fact, there’s one sneaky trick landlords have been using recently to commit highway robbery on their tenants.
Since many of our clients have asked us about this sneaky trick in recent months, we wanted to share it with you.
Not only will it prevent you from making massive mistakes that cost you a pretty penny…
But it will also help you “vet” future landlords better, so you get one of the good ones instead of one of the sneaky ones.
Okay, so what’s this sneaky trick?
Tying your lease increases to CPI (consumer price index).
Here’s why it’s sneaky:
Landlords recommend this option because they say it may mean your rent gets lower as time moves one. And while that’s factual, it’s not true — especially in today’s world of rapidly rising inflation.
Check this out:
The CPI has increased by 8.1 compared to this time last year.
So, let’s pretend your monthly rent was $2,000 last year, but you tied it to CPI.
This year, you’d have to pay $2,162 a month for the same exact place.
That’s an extra $1,944 per year if CPI stayed the same at 8.1%.
And since inflation and CPI don’t look like they’re slowing down, this is a conservative estimate.
In truth, we could see the CPI double over the next 12 months.
The worst part?
As CPI and inflation skyrockets, the price of almost everything else you buy also increases.
And this can cause a heartbreaking financial situation for many families.
Moral of the story?
Don’t tie your rent to CPI — no matter how good your landlord makes it sound.
Because tying your rent to CPI is good for your landlord and bad for you.
Need help finding a better landlord or even owning your own place?
Give us a call at 949-229-2208. We don’t charge anything for your initial consultation.
We’ll walk you through all your options and help you make the smartest financial decision possible.
P.S. If we exceeded your expectations in the past, it would mean the world to us if you left us a glowing review on our Google My Business page.
Thanks in advance!
