Hello,
I recently received my renewal lease, as my current lease expires on July 31st.
For my entire tenancy, I have been receiving a preferential rent for every renewal.
The new lease states an increase for one year of what equals to 2% per month, and for a two year lease, the new amount is equal to what is a 4% increase.
From my understanding, this year's increase - for leases renewed up until September 30th, 2017, is 0% for 1 year and 2% for a 2 year lease.
All of this is stated on part 5 - Lower rent to be charged, if any.
However, on Part 2, it has the higher legal rent listed, and it states for the one year lease, the increase is 0.00%, and for a two year lease, it is 2.00%.
So, what I do not understand, is, why am I being charged an amount in part 5 that is equal to a 2% increase for one year, instead of $0? Same for the two year renewal.
Am I missing something here? Is there another provision for this year's renewals that I don't yet know about?
Nor is there any explanation from the LL for this increase.
I called the landlord's office and they didn't get back to me yesterday. I called later in the afternoon and received a message from them on my way home from work (so I didn't get to talk to them) telling me that they will call me next week to discuss the lease.
In my message to them, I let them know what this year's increase is for 1 and 2 year leases (0% and 2%). I also said that I will probably return the lease renewal to them, as it appears to be invalid.
On last year's lease, which also had a 0% increase for last year, I was not charged anything over the amount the year before. The 0% option is what I took last time.
In the event that the LL does not admit a mistake, and demands this increase over this year's guidelines, what should I then do? Should I return the lease to them with a letter explaining what the problem is? Or should I sign it and then fight it?
Any help is appreciated!