|
Every revision should be in accordance with the rental agreement, and the landlord cannot change it beyond that. If you know that the rental agreement has to be renewed yearly, then you can expect a change in the rent with your landlord.
Typically, the rents can increase every year or 20 months by a specific percentage. Only that is legally allowed. No landlord can change more than that. In order to increase the rent, the tenant should have lived in the house for a period of 12 months or more. If the tenant has just moved in and used the apartment for less than six months, then the landlord cannot increase the rent. The market conditions may have improved or the property prices may have gone up, but these do not affect the rental agreement.
In any rental agreement, the date of renewal of the agreement has to be mentioned clearly. Only after that the rent can be changed, and that too if it is mentioned in the contract. Typically all rental contracts will have an expiration date. The rent would also expire on the same date. If the agreement has to be renewed, then new dates and new amount has to be mentioned.
More Articles :
|
