Money expert Derrick Kinney joins WFAA's Jason Wheeler to answer viewer finance and economy questions.
Some U.S. senators have asked the U.S. Department of Justice to investigate computerized rent recommenders, alleging that they “fix rents."TEXAS, USA — Recently, an incredulous renter reached out regarding a lease renewal offer they had received for their suburban DFW studio apartment that measures just over 600 square-feet and has a view of nothing, really.
The offer would raise the rent from $1,315 a month to $1,479, about a 12.5% increase. That is on top of the hefty increase of about 10.6% they agreed to when they signed for another 12-month term last year.
Those will take a while to sort out. In the meantime, the renter who reached out needs to figure out what to do now. It was productive for them to talk to an actual person because that person began looking at how they could make the renewal offer more palatable. Equally important: When you have that conversation, try to stay calm and be nice. That goes a long way.
All those data points helped them convince the leasing agent to raise their rent a little more than 2% instead of the original 12.5% that had been proposed. If you have to go through this process, it might also be helpful to know thatIt benefits them to keep you. It also benefits you to know how to negotiate.
But, according to sales data from the Texas A&M Real Estate Research Center, in the past several months, home prices in major Texas cities have stopped rising, or have even started going down. Zillow notes thatHere are Texas renters' rights regarding evictions, security deposits, lockouts and moreWFAA would like to send you push notifications about the latest news and weather.
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