Feb
14
Can the lease go up in price in this situation?
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My boyfriend owns a small business and we recently learned that a big retail store will be opening right next door to our business. Is this something that is going to cause our lease to go up in price?
Real Estate Proffessionals
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Does the price of retail space fluctuate seasonally? I’m going to be opening a retail space in/ near Long Beach Ca. My business is not likely to have a huge change in sales due to Christmas. So, if it’s not critical to be open by Christmas, can I wait till after Christmas to sign a lease and...
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4 Comments
February 16th, 2010 at 4:56 pm
It would depend on your landlord, not necessarily the neighbors.
February 19th, 2010 at 3:51 pm
If you’re already locked into a lease, no. Legally, they cannot rasie your rent while you’re in a lease. You and they have already signed a document saying that you will pay X amount of dollars each month that you and the leasor have agreed upon. However, once the lease is up, the contract then becomes negotiable. At that point, then yes, the rent may increase.
February 21st, 2010 at 6:06 am
That would depend on the landlord and the lease.
February 22nd, 2010 at 9:40 am
If your lease specifies that the rent can be increased mid-term of your lease, then the landlord can raise your rent (there are usually limits stated). On the other hand, a “big box” business may bring additional unadvertised customers to your business and in that way offset the additional expenses…