5 Warning Signs Your Michigan Landlord Is Planning a Rent Hike

So, you've been living in your cozy Michigan rental, enjoying a steady rent, and thinking, "This isn't so bad." Well, it's time to wake up and smell the rent hike because good times could be coming to an abrupt end. Here are the telltale signs that your landlord is getting ready to squeeze even more hard-earned cash out of your pocket.

Michigan Rent Hike Sign #1: Renovations, The Landlord's Trojan Horse

Did your landlord recently, out of the kindness of their heart, decide that your puke-green 1970s bathroom needed a makeover, or did that nasty, yellowed linoleum floor finally get replaced? Let's be real: Those shiny new fixtures come with a side of rent increase.

RELATED: Income Needed to Afford Avg. Rent in Michigan and Every Other State

LifeHacker says renovations are the classic landlord tactic to justify jacking up your rent.

Michigan Rent Hike Sign #2: Foreclosures, a Rent Hikes Best Friend

If your neighborhood is suddenly lettered with foreclosure signs, hold on to your wallet. All those displaced homeowners need a place to live now, which in turn drives up demand in an already crowded rental market. Your landlord or leasing company will see this as an opportunity to increase your monthly payment because, well, they can.

Michigan Rent Hike Sign #3: Utility Costs, The Silent Killer

If your landlord covers utilities, tread lightly. Rising utility costs in Michigan might be passed directly to you through higher rent. According to Business Insider, you should check your utility rates regularly--you might catch a spike that signals a rent increase.

Michigan Rent Hike Sign #4: Dwindling Rental Listings, a Grim Warning

Keep an eye on the rental market around your neighborhood. Are you seeing more or fewer homes for rent in your area? If so, that's not a good sign.

A drop in available rentals means increased demand, which means your landlord can demand more.

Michigan Rent Hike Sign #5: Others Rents Rising, The Final Nail in the Coffin

If your neighbor mentions their rent just increased, it's time to start saving. Michigan landlords often use local rent trends to justify increasing their rates. If everyone else's rent is going up, yours probably isn't far behind.

RELATED: How High Can Your Landlord Raise Your Rent in Michigan

In Michigan and everywhere in the United States, renters are already struggling to make ends meet; being proactive can save you a nasty surprise. If you spot these signs, start planning. Adjust your budget, look for a cheaper place, or prepare to negotiate--because that rent increase letter might be closer than you think.