If you didn’t already know, Girl Ninja and I live in an ADU (additional dwelling unit), also known as a mother-in-law apartment. Two summers ago, our Landlord built a huge, I mean HUGE, house. He decided, during the last part of the building phase, to throw on an ADU on the upper back portion of the house. Check out where we live….
Do you see how massive his house is? I mean look at the size of the house to the left…haha.
Our landlord is obviously doing well for himself. He paid cash for this place and by collecting rent from us ($1,175/month, all utilities included) he is able to live free and clear. That’s right, our payments cover his property tax, utilities, homeowners insurance, and cable/internet.
Could you imagine living with out a house related payment?!
As I was pulling in to our driveway yesterday, he was out in the front yard. We started chatting and he asked how our house-hunting process was going. I let him know that Girl Ninja and I hadn’t even gone and looked at a place in the last 6 weeks due to the Bubble market in Seattle. What’s more, Girl Ninja decided to teach another year at her school (5 minutes away from our pad, 30 minutes away from where we would want to buy). I told him not to worry about us moving out any time soon unless one of three things happens:
- Housing inventory picks up dramatically.
- We get pregnant.
- He raises rent prices on us.
I read horror stories all the time about rising rent prices and how it can devastate a person’s budget. One day you are scraping by with a $1,200/month rent payment, and the next day you’re told that rent is jumping up to $1,500. That would seriously suck.
Girl Ninja and I frequently talk about what we would do if our landlord tried to raise rent on us. We’ve decided if that day ever comes, we would start looking for another place.
Fortunately, it doesn’t sound like that will need to happen any time soon. As I shared point three above with our landlord, he immediately cut me off and said “Dude, are you kidding me? I will not raise rent on you guys as long as you’re my tenants.”
That made my heart happy. I laughed and asked him when we could change our month-to-month lease to a ten-year contract. You know I gotta try to lock in that agreement, haha.
I’m not quiet about my extreme fondness of renting. Knowing that for as long as we are here, our rent will never increase, just makes renting that much more amazing. And it makes buying a house even less attractive than it already is. #ImRentingForLife
Have you ever dealt with a rent increase?
p.s. Here’s a picture tour of our tiny little abode