Rent Increase
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Rent Increase (by Peter [NJ]) Jan 11, 2022 3:41 PM
       Rent Increase (by Tony [NJ]) Jan 11, 2022 4:30 PM
       Rent Increase (by Robert,OntarioCanada [ON]) Jan 11, 2022 5:13 PM
       Rent Increase (by Ray-N-Pa [PA]) Jan 11, 2022 7:34 PM

Click here to reply to this discussion.
Click Here to send this discussion to a friend

Rent Increase (by Peter [NJ]) Posted on: Jan 11, 2022 3:41 PM
Message:

State Specific Question About: NEW JERSEY (NJ)

If I make capital improvements (updating the heating/cooling system) to an apartment that currently has a tenant, am I able to raise the rent of that tenant? If so, what is allowable by law? --12.19.xxx.xxx




Rent Increase (by Tony [NJ]) Posted on: Jan 11, 2022 4:30 PM
Message:

This can vary by county but I asked this of a lawyer and was told to not exceed 10% / year for an existing tenant, even in this market. An increase in NJ cannot be unconscionable - so as not to shock the conscience of the average person. If it's raised too much and it ends up before a judge, the judge can override the increase and adjust it to a "reasonable" amount. --73.215.xxx.xx




Rent Increase (by Robert,OntarioCanada [ON]) Posted on: Jan 11, 2022 5:13 PM
Message:

The consumer price index then every year increase rent over a period of time. A new HVAC system can easily last 10 to 15 years where over time it is paid for. If take 3 per cent per year then 3 per cent next and so on then the investment will paid off. --99.236.xxx.xxx




Rent Increase (by Ray-N-Pa [PA]) Posted on: Jan 11, 2022 7:34 PM
Message:

Has the initial term of the lease ended and if so are you on a month to month term? --24.101.xxx.xxx



Click Here to send this discussion to a friend
Report discussion to Webmaster


Reply:
Subject: RE: Rent Increase
Your Name:
Your State:

Message:
Rent Increase
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: