As a tenant, it is important to understand the rules and regulations of your lease. This is especially true when it comes to rent increases. Although some contracts give landlords the right to raise the rent at will, there are other conditions under which a landlord can raise the rent. Conditions of which you should be aware before signing any document. Let’s see in this new Uniaffitti blog article what these conditions are.
Limits on rent increase
In many states, landlords cannot raise the rent without first giving written notice. Notice given 30 to 90 days before the rent increase takes effect. The written notice should also contain information on the reason for the rent increase and the amount of the rent increase.
Some leases limit the amount of annual rent increase by the landlord. For example, it may be able to increase the rent by only 2% or 3%. If your landlord attempts to increase your rent by more than the stipulated amount without giving you adequate notice first, you may have legal grounds to refuse the increase.
Rent increase after contract renewal
Another thing to keep in mind is that if you sign a new lease with your landlord, the landlord may be able to raise the rent after renewal even if the original lease did not allow him to do so. In this case, make sure that both parties sign a written document that clearly states how much and when the landlord can increase the rent after renewal. This way there can be no confusion later.
Rising rent can be stressful, but understanding your rights can help put your mind at ease. Knowing what conditions landlords must meet when increasing rents, such as written notice and compliance with state laws, can help you ensure that any changes made are fair and legitimate for both them and you! Keep these points in mind so that if/when your landlord attempts to raise the rent, you will know exactly what steps to take!
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