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Renewed my lease at a higher rate. Original lease not up. Remedy?

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sdirish

Guest
What is the name of your state? Missouri

I signed a renewal lease on July 1 for 1 year at a higher rate. I now find out that the rate advertised in the newspaper and quoted to people who call the office i$70 less per month. And my rent went up! My original lease is not up until August 31st. Do I have any remedy to get the better rate or at least cancel the new lease? There is a 30% vacancy rate in my area. I'm sure they don't want to lose tenants. That, I assume, is why they are offering a better rate to new renters. Why raise the rent for existing tenants, when new tenants can get a better deal?
 


HomeGuru

Senior Member
sdirish said:
What is the name of your state? Missouri

I signed a renewal lease on July 1 for 1 year at a higher rate. I now find out that the rate advertised in the newspaper and quoted to people who call the office i$70 less per month. And my rent went up! My original lease is not up until August 31st. Do I have any remedy to get the better rate or at least cancel the new lease? There is a 30% vacancy rate in my area. I'm sure they don't want to lose tenants. That, I assume, is why they are offering a better rate to new renters. Why raise the rent for existing tenants, when new tenants can get a better deal?
**A: it's too late. Prior to signing the lease you should have researched the comparable rents and if the vacany rate is so high, done some heavy negotiations to get your rent lower.
 

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