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If an owner of a leased property dies or the property is sold, the lease does not terminate. The heirs or new landlord are bound by the terms of the existing valid lease. So rent should not be raised during the lease unless that is the way it was written originally.
Here is a helpful link from the NC Real estate Commission: Q&A on renting residential real estate
True. The renters had to be under a month to month lease or up for renewal for the landlord to 'immediately' raise the rent. Not sure why they were so shocked.
The landlord has the right to raise the rent under the terms of the lease. The tenant has the option of agreeing or moving. The tenant does NOT have the option to just not pay the rent. I don't blame the landlords for expeditiously evicting those that don't pay.
Even as a landlord, I think a 30% increase at once, is quite harsh. I read that as: "We want you to move, we know you won't pay this increase. Just go, so that the property will be empty and we can upgrade it, and rent it out for more."
That's the difference between corporate owned housing and small proprietors. The smaller businessperson can be more inclined to make minimal alterations to a property and leave the rent alone. There are no behind the scenes investors to satisfy.
I try to view the tenants as working in partnership with me. They're helping me pay off the mortgages and maintain the properties for my retirement. Why pizz them off if it's not needed?
Even as a landlord, I think a 30% increase at once, is quite harsh. I read that as: "We want you to move, we know you won't pay this increase. Just go, so that the property will be empty and we can upgrade it, and rent it out for more."
That's the difference between corporate owned housing and small proprietors. The smaller businessperson can be more inclined to make minimal alterations to a property and leave the rent alone. There are no behind the scenes investors to satisfy.
I try to view the tenants as working in partnership with me. They're helping me pay off the mortgages and maintain the properties for my retirement. Why pizz them off if it's not needed?
Are you saying that a new property owner should not be allowed to do as they please with their own property (within the lease agreement)?
True. The renters had to be under a month to month lease or up for renewal for the landlord to 'immediately' raise the rent. Not sure why they were so shocked.
The landlord has the right to raise the rent under the terms of the lease. The tenant has the option of agreeing or moving. The tenant does NOT have the option to just not pay the rent. I don't blame the landlords for expeditiously evicting those that don't pay.
They're shocked because something they never considered would happen is now turning their lives upside down.
Quote:
Originally Posted by Charlotteborn
Are you saying that a new property owner should not be allowed to do as they please with their own property (within the lease agreement)?
Yes, landlords should have the right to do what they want within the law. Maybe the law needs to change to help protect a renter. Perhaps something like extending the time to move after an increase notice is given, as long as the old rent amount continues to be paid. That would hurt no one.
They're shocked because something they never considered would happen is now turning their lives upside down.
Yes, landlords should have the right to do what they want within the law. Maybe the law needs to change to help protect a renter. Perhaps something like extending the time to move after an increase notice is given, as long as the old rent amount continues to be paid. That would hurt no one.
How does a renter neverconsider that their rent will go up when the lease is over? Don't they read the lease?
You must not have ever tried to evict anyone. The law favors the tenant - that is why a diligent landlord knows that they have to start eviction proceedings ASAP or they could lose many months in rent.
I was raised to pay my mortgage/rent in full and on-time. I can't just chose not to pay and keep living there.
How does a renter neverconsider that their rent will go up when the lease is over? Don't they read the lease?
You must not have ever tried to evict anyone. The law favors the tenant - that is why a diligent landlord knows that they have to start eviction proceedings ASAP or they could lose many months in rent.
I was raised to pay my mortgage/rent in full and on-time. I can't just chose not to pay and keep living there.
I rented half a dozen apartments over about 14 years. Only a couple times did my rent increase, and then it was $50 to $100, which was less than 15%. The article suggests some of the rents are going up by a third. I don't see any reasonable expectation of that happening.
Read the lease? HA HA HA HA!!! Surely you jest. But that's certainly no excuse.
Non payment should be a reason to evict, I agree. I know the laws are skewed towards the renter's benefit. I'm suggesting that renters be given every chance, as long as they keep paying. No one has to suffer.
If you don't pay your rent (and again not due to a rent increase with no notice), I don't think it's fair to the landlord to have to wait a few months to give a nonpaying tenant a chance to move. Not all landlords are able to carry the mortgage while their tenant lives for free in their place. I have a friend that couldn't sell her home and had to rent as she was not able to afford paying both mortgages. She depends on her tenants to pay their rent on time. She had one that didn't and it cost her a pretty penny to evict them out. That is what I think of when I hear about evictions.
I agree that what happened to that lady was unfair and mentioned in my previous post that I am surprised there isn't a tenant law that allows her 30 days/protection to move since she did pay what was her rent amount and asked for time to move out.
We have renters and have had an issue with them being late this month. They were really mad that we expected to get the rent by the due date. They told us that we should take the money out of their security deposit and then when the pay replace it. They told us that we needed to do things in a business and legal way because we called them and sent a text when the rent wasn't paid by the date they said. To protect ourselves we sent them a 10 day demand letter.
We have renters and have had an issue with them being late this month. They were really mad that we expected to get the rent by the due date. They told us that we should take the money out of their security deposit and then when the pay replace it. They told us that we needed to do things in a business and legal way because we called them and sent a text when the rent wasn't paid by the date they said. To protect ourselves we sent them a 10 day demand letter.
They got mad? The entitlement of people just amazes me. And well now they made your "job" easier. No more calls or texts, all paperwork from here on out. I bet they will get offended that you didn't call them before sending the letters.
They got mad? The entitlement of people just amazes me. And well now they made your "job" easier. No more calls or texts, all paperwork from here on out. I bet they will get offended that you didn't call them before sending the letters.
Exactly. They will just get a 10 day letter when late and nothing else. We only have about 8 more months left on the lease.
I'm sure there is a lot more going on here than is being put in this article. Lots of things should bs taken into consideration here. Some of these things should be condition of the house, purchase price and most importantly, fair market rent price.
If the seller isn't getting FMV for the house that doesn't mean the new owner shouldn't.
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