Even though the minimum wage is going up next year, can my landlord raise the rent as well?

Question

I'm on a 12 month lease and it says the monthly amount, however, I signed the paperwork. I'm thinking it's like a contract so there'll be no change to the amount of rent. She can't go up in price only down correct?

Answer 1

The landlord can raise the rent whenever your lease is due to be renewed,as soon as the 12 months are up.I have lived in apartments all my life,my rent has never gotten lowered,but always raised on a yearly basis.Last year it went up $50.00 a month,this year it went up $35.00 a month.You can almost bet it will be raised when your lease is up.

Answer 2

I don't think rent usually goes down. If you're on a 12 month lease, the fee should remain the same, but the landlord can increase the rent when your contract is up for renewal next year depending on economic inflation not income.

Answer 3

She can raise the rent at the end of the lease, and no sooner, unless you both agree to an increase, probably because of improvements to the place that would have to be mutually agreed upon. Your rent stays the same for the duration of the lease under normal circumstances.

Answer 4

If you are still under a signed lease the rent will stay the same. When the lease is over the rent can go up.

Answer 5

You signed a 12 month lease, for 12 months you both are bound to that amount, unless there you both agree to change the lease or there are provisions of the lease that allow for changes or cancellation.

Answer 6

The rent can't change (up or down) during the term of the lease unless there's an explicit clause permitting that. Few residential leases have such clauses.

Answer 7

at the same time as an person-friendly "for sure!" seems the elementary answer to this question, it isn't unavoidably the superb perfect one. many human beings incorrectly anticipate that raising the minimum salary is continually an excellent element. besides the indisputable fact that, it ought to in many circumstances be very severe priced, and finally damage an economic equipment. In an economic experience, the decision for for labor should be seen interior the same way we view call for for products. all of us knows that in a loose market, at the same time as the cost of an excellent will develop, the decision for for that good decreases. labor is not any diverse. at the same time as the cost of work will develop (i.e. the minimum salary is raised), the decision for for labor decreases. this signifies that unemployment will upward push. also, increasing the minimum salary in many circumstances leads to severe inflation. not basically does the favourite shopper have extra money to spend, besides the indisputable fact that it costs agencies extra money to furnish products and amenities because they ought to now spend extra money on labor. hence, those agencies are going to guard their earnings margins with the help of increasing the promoting cost of the products or amenities they furnish to cover the higher fee of work. So, as you will see that, raising the minimum salary isn't continually a wise selection.

Answer 8

your landlord can raise your rent but read your lease maybe theres a loop hole also if you live in a state that has renters rights or a housing athority you could have them check it out.theres also legal aid call them up explain and they can tell you more.good luck.

Answer 9

Since you all signed a contract she can't increase or decrease the amount without you both agreeing to it.

Answer 10

yes he can say they need to raise the rent because he'd mabe say it cost more to own an apartment. did u hear president want it increase by $2.15? i thought he said that after the november elections.