How Much Can A Landlord Raise Rent
Q: My daughter is finishing up her junior year in college. She is renting an apartment. How much can the landlord increase her rent? Lindsay, Delran, NJ
A: If your daughter signed a written lease, her rent payments are fixed and can’t be increased throughout the term of the lease. If your daughter is renting month-to-month, her rent can’t be increased until the end of any given month. The best protection against rent increases is a longer term lease–leases can be as long as both parties decide. Landlord-tenant laws vary widely from state to state and they vary in different towns, cities and counties within states. In general, rents are determined by the law of supply and demand however, some places have instituted rent control and rent stabilization rules that limit if and by how much rent can be increased–check with the landlord-tenant court in the town where your daughter’s apartment is located and consult a local real estate attorney who operates in that town as well. Thanks for your question, Lindsay.
For more real estate tips and information visit my blog at geraldlucas.com.