say if i signed a 6month lease agreement with one landlord and right around the time the lease was up he sold the apt. complex to another landlord is the new landlord allowed to change your rent 100.00 more then also add a additional 100.00 late fee is our lease/contract still at value?
2007-12-03 11:40:09 · 9 answers · asked by buggy12 1 in Business & Finance ➔ Renting & Real Estate
It does not change the contract.
He cannot change the terms of the original contract. If your old LandLord made that contract, the new landlord has to honor the terms of the old contract. Unless he makes you sign a new contract, he cannot change the fees.
If the contract says," Landlord can change fees at anytime." than he can but other than that he cannot
2007-12-03 11:45:45 · answer #1 · answered by ♫♪dragonfly♫♪ 3 · 0⤊ 0⤋
When a person buys an apartment building, they can chose to accept the existing leases or not. The previous owner should have worked that out with the new buyer and the previous owner would be responsible for notifying you.
I have bought rental property and we always specify that the existing agreements expire upon transfer. We can then have tenants sign new agreements. It doesn't mean that we are going to increase rents but we want our agreement in place as you don't know how well the previous agreement was written.
You'll need to talk with the new landlord to find out what happened. They should be willing to give you the name of the escrow company to confirm.
If you are not in a rent control area, they can raise the rent by any amount they want.
2007-12-03 20:20:47 · answer #2 · answered by Tim 7 · 0⤊ 0⤋
No, your agreement can only be changed with a written amendment signed by both the landlord and tenant. They can't change the rent on you until your existing lease term expires. You are protected by the language in your lease. You should thoroughly read your lease though because I suppose it is possible your original lease could have included language that said, "the landlord has the right to change the rent at any time for any reason", but that isn't likely to be in your lease.
2007-12-03 19:44:43 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Your new landlord shouldn't be able to change the terms of your existing contract, however, when the contract ends, he can come up with new terms. He can raise your rent, he can add a $100 late fee. He can do whatever he wants. But you can move and not agree to the new terms. But if you want to stay where you are, you need to abide by his terms.
2007-12-03 19:44:23 · answer #4 · answered by Meghan 7 · 1⤊ 0⤋
Not if you didn't sign it, unless there's a specified rule in your lease about change of ownership. Check your lease agreement for that. If it says it may be sold and the rules changed without your consent, then you're stuck. If it doesn't say that, and you're still in your signed term, then no.
2007-12-03 19:43:55 · answer #5 · answered by Chris S 2 · 1⤊ 0⤋
It depends upon whether or not your old lease has any validity. If it is expired, and you haven't signed a new one, then you are pretty much at the mercy of the new owner, I guess. This is really a question for a lawyer.
2007-12-03 19:44:26 · answer #6 · answered by judithia 5 · 0⤊ 0⤋
if you resigned a new lease they can make what ever change they want on it but if it is the old lease than they can't do any changes on it.
2007-12-03 19:43:17 · answer #7 · answered by na 2 · 2⤊ 0⤋
there is a law where your rent is only alllowed to go up a VERY SMALL percentage every year. he is doing something illegal by raising it that high.
2007-12-03 19:44:14 · answer #8 · answered by Storm Warning 2 · 0⤊ 1⤋
Hint: Whaddu I look like? A lawyer?
2007-12-03 19:43:10 · answer #9 · answered by roadjack1096 2 · 0⤊ 5⤋