I see nothing wrong here. It's his apartment, and it's market. Want stability -- buy a house, (PS: I'm myself renting for a cheap price because of rent control, but I admit it's a bad system).
It's his apartment, but such high increase is not in line with the market prices, inflation and wage growth.
They are simply banking on the fact that moving for tenants is costly, time consuming and could affect kid's school. Moreover, they only gave me 3 days to decide if I want to renew or move out. They gave the renewal offer 33 days before lease end, and I have to give a notice of 30 days if I want to move out.
Last year, I fell into their trap and gave into the substantially increased rent; but now what they are asking is at least 30% higher than market.
