Did you receive a Rental Increase letter from your landlord?
Jun 23, 2015
Did you know you can Just Say No!
Did you know that 3-6 months before the end of your 1-year lease the landlord has the right to request a rental increase? You have the right to stay in your apartment and REFUSE that rental increase request.
If you have a 1-year lease you are required to give your landlord 3-6 months notice via REGISTERED letter if you want to terminate your lease. If you don't send an official notice your lease AUTOMATICALLY renews for another year. If you would like a sample letter to send your landlord to give notice you will be leaving come visit HOJO!
As well, 3-6 months before the end of your lease is the time your landlord can request a rental increase. This is something you must respond to in an official manner such as REGISTERED letter. You have 3 options:
1. You can accept the rental increase and renew your lease for another year
2. You can refuse the proposed increase and renew your lease for another year
3. You can inform the landlord that you don't want to renew your lease for another year and will be moving out at the end.
Informing the landlord of your decision within the time limits is VERY IMPORTANT!!!
For information on how rental increases are calculated read this and this!