Freedomisneverfree
Diamond Member
- Jul 28, 2021
- 10,457
- 22,665
- 2,288
āHi Adam!
"There will be a letter being mailed out on Monday but wanted to provide it to you via email as well because Iāll be out of town for the next week. Your rent has been decreased. Instead of $1,317 moving forward it will now be $876."
"With the rent adjustments made since your move-in, youāve been credited $10,939.07 that will be in your ledger. When I get back, we need to meet so that you can sign an addendum reflecting your new rent amount. Let me know if you have any questions.ā
Adam expected at worse, a letter saying he was late or perhaps a rent increase.
So, does Adam have the only good landlord in the nation? Why on Earth would he be credited over $10k?!
The going theory is that this is because this renter is in income-based/subsidized affordable housing, where rent is usually set at about 30% of the tenantās adjusted household income. If income changes, landlords are required to adjust rent and recalculate retroactively, so the landlord must credit the tenant for months where they overpaid at the higher rate.
Naturally is isnāt the norm for landlord behavior. Most of the time, landlords are determined to squeeze every penny they can out of their tenants while providing a minimal service, all the while their mortgages are paid off by the renterās blood, sweat, and tears.
"There will be a letter being mailed out on Monday but wanted to provide it to you via email as well because Iāll be out of town for the next week. Your rent has been decreased. Instead of $1,317 moving forward it will now be $876."
"With the rent adjustments made since your move-in, youāve been credited $10,939.07 that will be in your ledger. When I get back, we need to meet so that you can sign an addendum reflecting your new rent amount. Let me know if you have any questions.ā
Adam expected at worse, a letter saying he was late or perhaps a rent increase.
So, does Adam have the only good landlord in the nation? Why on Earth would he be credited over $10k?!
The going theory is that this is because this renter is in income-based/subsidized affordable housing, where rent is usually set at about 30% of the tenantās adjusted household income. If income changes, landlords are required to adjust rent and recalculate retroactively, so the landlord must credit the tenant for months where they overpaid at the higher rate.
Naturally is isnāt the norm for landlord behavior. Most of the time, landlords are determined to squeeze every penny they can out of their tenants while providing a minimal service, all the while their mortgages are paid off by the renterās blood, sweat, and tears.
