Friday, October 10
Real Estate
FAQs
Rent and
Security Deposits
Rent
FAQ
What
laws cover rent due dates, late rent and rent increases?
By custom, leases and rental agreements usually require rent to
be paid monthly, in advance. Often rent is due on the first day
of the month. However, it is legal for a landlord to require rent
to be paid at different intervals or on a different day of the
month. Unless the lease or rental agreement specifies otherwise,
there is no legally-recognized grace period - in other words,
if a tenant hasn't paid the rent on time, the landlord can usually
terminate the tenancy the day after it is due. Some landlords
charge fees for late payment of rent or for bounced checks; these
fees are usually legal if they are reasonable. The laws on late
fees can be found in your state's landlord-tenant statutes.
For
month-to-month rentals, the landlord can raise the rent (subject
to any rent control laws) with proper written notice, typically
30 days. With a fixed-term lease, the landlord may not raise the
rent during the lease, unless the increase is specifically called
for in the lease, or the tenant agrees.
How
does rent control work?
Communities in only five states - California, the District of
Columbia, Maryland, New Jersey and New York - have laws that limit
the amount of rent landlords may charge. Rent control ordinances
(also called rent stabilization, maximum rent regulation or a
similar term) limit the circumstances and times rent may be increased.
Many rent control laws require landlords to have a legal or just
cause (that is, a good reason) to evict a tenant--for example,
if the tenant doesn't pay rent or if the landlord wants to move
a family member into the rental unit. Landlords and tenants in
New York City, Newark, San Francisco and other cities with rent
control, should be sure to get a current copy of the ordinance
and any regulations interpreting it. Check the phone book for
the address and phone number of the local rent control board or
contact the mayor or city manager's office.
