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Q: I’ve been dwelling in the identical giant rental neighborhood for the final decade. The complicated was bought to a brand new firm that’s renovating models as the present renters transfer out after which reletting them at a a lot greater worth. I lately discovered they don’t seem to be renewing folks’s leases. As a substitute, they’re providing tenants to maneuver into one of many renovated models at a better lease. Is there something I can do to remain in my unit on the present worth once I come up for renewal? — Neil
A: When determining your rights as a tenant, step one is to overview your lease settlement fastidiously.
A lease binds the owner and tenant to what was agreed upon and can’t be modified unilaterally. If a landlord sells the rented property, the brand new landlord is sure to the identical phrases as earlier than.
In case your lease means that you can renew, the already agreed on renewal phrases will apply.
Nonetheless, most residential leases will not be really renewable. As a substitute, they expire after a yr, and the owner and tenant enter a brand new, comparable lease. It appears like that is your scenario.
When your present lease expires, you will need to negotiate a brand new one.
Even underneath regular circumstances, beginning this course of a number of months upfront is finest so that you could make alternate dwelling preparations if essential.
In lots of locations, a landlord should give advance discover, often two or three months, if the lease goes to be raised by greater than a small quantity or if the owner doesn’t intend to supply their tenant one other lease.
As a result of this varies from county to county and typically by metropolis, you have to to test to see what applies the place you reside. It is best to be capable to discover this data by calling your metropolis and county or looking out the web.
Since you understand this can be an issue, attain out to your landlord to debate your choices.
Given your lengthy tenure, your new landlord could also be prepared to work with you to give you an answer you’ll be able to each settle for.
If not, you’ll have the utmost time to discover a new place to stay.
(Gary M. Singer is a Florida legal professional and board-certified as an knowledgeable in actual property legislation by the Florida Bar. He practices actual property, enterprise litigation and contract legislation from his workplace in Dawn, Fla. He’s the chairman of the Actual Property Part of the Broward County Bar Affiliation and is a co-host of the weekly radio present Authorized Information and Assessment. He continuously consults on common actual property issues and traits in Florida with numerous corporations throughout the nation. Ship him questions on-line at www.sunsentinel.com/askpro or observe him on Twitter @GarySingerLaw.)
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