The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: therethere on January 31, 2019, 03:31:10 PM
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So we're nearing the end of our lease again. And I'm really on the fence on what to do this year. Normally we just renew and pay the 3% increase. But due to deteriorating conditions we may want to leave so I was considering going month to month.
Anyway... Our lease currently states there is a $150 fee to renew the lease. It also states that if no new lease is signed, that we revert to month to month at a 10% rent increase and the $150 fee applies. Is charging the fee even legal? My thought is that they aren't doing anything but letting the lease run out and having the terms revert based on normal laws. I'm skeptical that they will charge us the $150 fee, plus the 10% monthly premium, and then ask us to leave after the 30 days. Effectively having us pay $325 extra in rent for that one month and still not getting any benefits.
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Laws differ by jurisdiction. Asking if something is legal without mentioning which state you're in (or country!) makes it difficult to respond :)
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I’m not sure why it would be illegal. Your lease is up...you’re basically negotiating a new, 1 month lease and your landlord has decided the up the rate.
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Laws differ by jurisdiction. Asking if something is legal without mentioning which state you're in (or country!) makes it difficult to respond :)
City, even. Look for your local tenants association.