New Apt. Mgmt - increased rent?

My husband and I have lived in our apt. complex for almost 7 years. We recently found out that the complex has been sold to a large property investment/management company. The new mgmt company increased our monthly rent 16%, an additional $150/mo. The highest we have ever experienced since living here. The previous owners never increased our rent more than $50/mo. I am very angry at this increase. I would like to know if I have any chance to negotiate the rent down? Or, at least get some updates to the apartment since we've been living here for 7 years such as new carpets or update the shower/tub liner. Please advise.

1st off read your lease very carefully about the rent increases.
2nd, Because of the federal fair housing laws, rent cannot be negotiated. They can run specials, but you cannot negotiate the price of rent. You can however request updates such as those you mentioned. Carpet in an apartment has a lifespan of about 7 years so, if i were the manager there to keep good tenants that have been there that long, yes I would give you new carpet, and maybe a touch up paint, maybe new sink fixtures, that sort of thing.

You are on the right track in trying to negotiate some upgrades. The management doesn't have to do anything short of meeting local codes. It is their property. They can charge what they want for rent. They can let it go to crap if they want. Their attitude is, " if you don't like it, move".

You should be able to get the apartment updated considering normal wear and tear. As for the rent increase...you can try to negotiate. There's no law that says you can't try. Just make sure they gave you enough notice. In California, it says that you have to get a 60 day notice for a rent increase that is larger than 10%. Good Luck...don't you just hate property management companies!?

Actually I don't think that they can just change your rent. I belive that whatever your signed your lease for is what you have to pay. I would contact a lawyer to go over this change with you or that you aren't getting screwed. GL!

all you can do is ask. .. what is in your contract anyways? I wouldn't be upset management paid a pretty penny for this place and are trying to make some money. your rent can't be as high as my mortgage payments.

the lease that you have now should be honored until it expires. i think you can negotiate anything you want. nothing wrong with asking. i think that for sure they should plan to do some updating , especially if they are trying to pass along those kind of hikes. Have you considered moving or buying your own place ?

well relax well atleast it aint to high like 550 a month. and if you think you arent able to pay it then get a good paying job. and i hate to sound mean or unfair but life isnt always fair. living in the real world isnt fun or easy you got to work to support yourself.