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Noah Braley received a letter on Thursday, July 1, 2021, that his rent would be increasing by $405 beginning in September. Braley lives at 625 N. Garden Street, Bellingham, Wash., in a building ...
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
Some rent increases cannot be remedied by working a side hustle or getting a part-time job. If a rent hike is too far out of pocket for a renter to afford, what can they do next? Renters can make ...
In these cases, the clause may specify that the rent will be adjusted based on changes in the market value of the property, or on changes in the cost of utilities or other expenses. When drafting a contract or lease that includes an escalation clause, it is important to carefully specify the factors that will trigger the adjustment, as well as ...
The letter also asked to have FHFA put in place rent protection for tenants living in properties financed with government-backed mortgage properties, which is more closely aligned with what the ...
A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property Each tenant pays their pro rata share of a property's total CAM charges, which prorated share is the percentage of the tenant's rented square footage of the total, rentable square ...
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