i would say 5% is more than fair. My old apt would raise the rent every 7 months by 15%.. fuckers
depending on the area you live and the availability of apartments, its your call. When I was in LA, finding a nice apartment right near the beach was difficult. My rent started at $1650/mo and few years later I called it quits and moved back to PA when I got my notice that my rent was now over $3,000. This is for the SAME fucking apartment too, in about 3 or 4 years time.
They knew they had the tenants by the balls and it was sad. what are you going to do? move?? nope, just keep paying.
Thats why I <3 my fixed rate mortgage... payment stays the same while I will make more overtime instead of the other