Renewing A Lease

patti43June 20, 2007

Okay, this is probably the dumbest question ever asked on this forum, but here goes anyway.

We got a notice that it's getting time to renew our lease. Since we moved in last September the rent has gone up over $100 a month. Question is: Do we "renew" at the rate we are paying now, or will it be at the higher price?

The answer is probably the higher price, but I'm just wondering about the term "renew". Thanks in advance for your input.

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If your rent has gone up that much since Sept., I'd be taking the opportunity to find a new place! Yes, you pay the higher rate (unless you're lucky enough to be in one of NYC's rent-controlled places!).

    Bookmark   June 21, 2007 at 4:08AM
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"Renew" can be a bit misleading, since the definition as it pertains to contracts is To arrange for the extension of. So the word "renew" makes it sound like it will be extended with the same terms. But just the opposite is true with leases. Renewal is the time to change terms or conditions of the lease/contract, since a contract can't be changed while it's in force (unless both parties consent in writing). So if you're agreeable to those changes (rent increase, for instance, or landlord allows pets when they didn't before, or it goes from one year to six months) then you'd "renew". If the terms or conditions of the contract/lease change and you don't like them, then you wouldn't renew ;)

    Bookmark   June 21, 2007 at 8:27AM
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In the complex we live in the notice that is sent out when it is time to "renew" lists any and all changes, including any increases that will be in effect. That should have been all lined out in the notice so you have time to think about renewing or finding a place that does not increase.

Our rent did not go up this year. This was a brand new complex 2 years ago and they kept the rent the same for the original tenants that, right now, plan on staying. They really cater to the ones they want to stay.

We had gotten into a rent control situation when we were first married. I had lived there by myself for 5 years and then once married we got a townhouse, but stayed in the same complex. We were paying only $365 when market value was $590. It was very hard to ever leave because we were locked in at that rate. $365 was a daggone steal for a 2bdrm/2bath townhome but we bought a house after a few years.

Do you have any rent control complexes in your area? $100 increase is unheard in my part of the country. $10 causes people to rebel! :)

    Bookmark   June 21, 2007 at 11:01AM
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Thanks for all your answers. I am/was hoping to keep the rent the same, but I have a feeling we will be moving. We're retired and unfortunately our COLA hasn't gone up as much as the rent here. If Florida has any rent control complexes, I haven't seen them in this area. The notice we got was more like a greeting card. The front read, "Time Is Running Out..." with a picture of an hourglass and the inside looks like a party invitation. It just tells the date the lease expires and says to renew at our earliest convenience. Also, a P.S. "Now is the perfect time to give us a call so that we can have your lease waiting for you when you arrive." Did I say how much I hate moving? ;-o

    Bookmark   June 21, 2007 at 1:13PM
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Yeah, I have seen those "party" invitations! They should outline any changes so you have a chance to know if you want to stay. Here, where we are now, they send out your renewal notice 60 days ahead of time, outlining any changes so you then have a chance to decide to leave if you want and still give a 30 day notice.

So sorry you have to move again!

    Bookmark   June 22, 2007 at 12:15PM
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We lived in a complex where they tried to up the rent by $400 one year (the base rent was $1600). We complained, and got it lowered to a raise of $200. It was still painful.

    Bookmark   June 22, 2007 at 5:43PM
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It's me again! I called the office today and to renew the lease it will be $20 off the new price. That still raises it by around $80.

Then I called (twice) about a condo FSBO that was listed in the paper today. 2/2 and in a really, really good area. It was pretty cheap for where it is and I haven't gotten a call-back, so it's probably gone, darn it. I was so excited!

    Bookmark   June 23, 2007 at 9:09PM
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