Many tenants worry about rent hikes when there is talk of a new property management company taking over the control of the lease. Landlords too can wonder if they are able to increase rent if they are purchasing property that includes tenants. Do you have to assume the same contract terms as the prior landlord? Landlord/tenant law, VA, was designed to provide property owners and tenants with clear information related to this subject matter.
Can a Landlord Change Rent Terms Mid-Lease?
When there is a contract in place, the landlord cannot make changes mid-lease. While it may seem like a landlord should have that right, they are not permitted to make changes on a whim like this because it can lead to problems for tenants. However, a landlord can make changes mid-lease if the tenant agrees to the terms. A lease agreement was between two parties, and any addendums that need to be added must be agreed upon by both parties.
One common situation with tenant/landlord lease disagreements pertains to utilities. Landlords may find the utility costs have increased, so they want to have the tenant start paying for the utilities. The problem with this is that landlords have to wait until the lease is over before they can renegotiate the new lease with a tenant. The new lease can include the utility costs, which can be difficult for tenants to agree to, especially if they are a long-term tenant that has not dealt with large rent increases.
As previous stated, a landlord can make changes if the renters agree to the changes. If both parties agree, a lease addendum is created. The lease addendum will state what changes are made, and both parties will sign and date it. The addendum will give both parties the ability to negotiate, but to ultimately focus on agreement that benefits the property and tenant. Sometimes tenants are willing to pay more each month because the addendum states the landlord will change the flooring. Having terms clearly laid out in the contract is vital to protect the landlord and the tenant.
Common Tenant Lease Changes
A landlord should consider hiring a property management company to take over a lease. New property owners assuming an old lease or rental agreement can find the position challenging. Some of the common mistakes landlords tend to take when altering a lease agreement include:
- Rent increases before the term has expired
- Due date changes to late payment date and fees
- Changing tenant privilege or amenities
- Lost key policy changes
- Tenant behavior rule policy
As it can be difficult to manage individuals that do rent property, it may be wise to consider hiring Keyrenter Metro Property Management in Largo, VA. Landlords often have a lot to deal with, so let our professionals solve the property management burden by taking this off your shoulders. Give our team a call today to learn more about our services and how we can help turn your property into a profitable investment.