Bringing long-term tenants up to market rents

In areas without rent control, good business sense comes first

By Inman News Feed
Add Comment Add Comment | Comments: 0 | Posted Sep. 20, 2012

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So unless you had committed verbally and requested the landlord to take the apartment off the market much sooner than when you actually signed the lease, then the reasonable amount that the landlord could claim was lost by you changing your mind (disregarding the fact that you had legitimate motives) would be two weeks' rent.

You should put all of your discussions in writing as soon as possible after speaking to your landlord. If you meet in person, I suggest you send her an email outlining what was discussed and confirm any agreements that you made as well as any areas where you agreed to disagree.

This column on issues confronting tenants and landlords is written by property manager Robert Griswold, author of "Property Management for Dummies" and "Property Management Kit for Dummies" and co-author of "Real Estate Investing for Dummies."

Email your questions to Rental Q&A at rgriswold.inman@retodayradio.com. Questions should be brief and cannot be answered individually.

Contact Robert Griswold:
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