What if my owner rises my rent for commercial property before the lease completion period

Status: Open
Apr 15, 2020 Views818 Answer a Question

I have been on rent on a commercial building for my business, My Agreement was for 5 years of lease. But now it is only 3 years since we made an agreement how can he raise my rent. His explanation is about current market value when I ask him this question.

About 1 month ago
Steve! On the commercial side of things, I find that the best thing to do is to take your lease agreement to the necessary type of attorney to review and see if the landlord has the right to do this under the terms of your agreement together. Feel free to reach out if you need a recommendation! codysellsproperty@gmail.com 346-412-6603
About 10 months ago
If your contract has an NNN lease, your rent amount can change. Please read through your lease contract in details. NNN lease means tenants pay for property taxes, insurance, and common area maintenance. Contact an attorney for more details
About 2 years ago
Hi Steve,

The first thing you need to do is read your lease contract word for word and make sure you understand what kind of lease you have and make sure you understand everything in it. Most contracts are written in "legalese" or "lawyer speak," so you should definitely consult a real estate attorney for clarification. Unless it specifically says the landlord cannot raise the rent during the lease term, he is within his right to do so. Some commercial leases might state that the owner can raise the rent as long as the tenant is given advance notice in writing.

Commercial leases typically have fewer protections for tenants built in than residential leases do. For that reason, you really need to speak with an attorney before signing a commercial lease. Hopefully, you can get it worked out in your favor, but if not, the good news is this will never happen to you again because now you know.
About 3 years ago
Well just find your signed contract and show the owner. If that don't work please contact an attorney it's just that simple. Please make plans to purchase your own building one day and stop paying rent. Call me when you get ready to buy your future building ok ?

Thanks
Anthony Taylor Realty
281-948-8839
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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