You’ve just received what every resident dreads from their landlord. It’s a rent increase notice. Your first instinct out of frustration may be to move out when the lease ends so you don’t pay another dime. However, that may not be wise or effective. There are many things to consider when you receive a rent increase.
Can my landlord increase my rent?
Yes, but only when a new lease is signed. Your landlord cannot raise your rent in the middle of the contract. When the new lease term begins you will see the new rental amount.
Why do landlords raise the rent?
There are a number of reasons a landlord may need to raise the rent. There are upgrades to the property that need to be done. Property taxes go up, and inflation can factor in, increasing the cost to maintain the building, the cost of doing business. When things like the roof, sump pump, and window replacements need attention, they cannot often be put off.
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