Pclasp (@admin)
5 months ago

Rent Increase

When you rent an apartment or a house from someone else, you have to pay rent, usually on a monthly basis. When you move in, you agree on the amount of rent you are going to pay, as well as who will pay the utilities and any rules the landlord may have for someone living in their house. Most landlords and tenants sign a lease that makes the arrangement legal, and also that specifies how long you will live there before that lease will need be renewed. One thing you should make sure is covered in any lease you offer or are offered is that terms of rent increase are covered.

A rent increase is usually a nasty and unwelcome surprise. Usually when you sign a lease, the amount is in writing, and you don’t have to worry about a rent increase while that lease is good. Some leases have terms for rent increases however, and this way, you would know that it is a possibility at any time. In most cases, a rent increase will not happen in the middle of a lease, but you should be aware that it may happen once one lease ends and your landlord presents you with a new one to sign.

If you don’t want to pay the rent increase, you can talk to your landlord. They may not budge. They may offer a compromise, but for the most part, you will have to pay the rent increase or you will have to move. Many times landlords must consider a rent increase for reasons you may not understand. There may have been a hike in local property taxes, or there may be major repairs to the home that need to be made. Those reasons are often given for a rent increase, though at times, it may just be that the landlord wants to make more money.

If you are faced with a rent increase in the middle of a lease, talk to someone who understands tenant and landlord law. If the lease prohibits a rent increase while in effect, you may not have to pay it, though they can enforce the increase when the lease expires and a new one is signed. If there is nothing to prohibit a rent increase in your lease, then you may have no choice but to pay the difference each month, and then move when the lease is up.