Rental advise needed

Maybe just ask the landlord if they want you to move out?

You can say you weren't expecting this because the contract clearly stated it would be 10% if you stayed on.

If you've been a good tenant and the landlord isn't losing money on you then it would be a poor decision on their part to lose a good tenant if you decide to just leave.
 
Contract aside, One thing I have learned from renting is never feel entitled. If push comes to shove and the owner does not want to negotiate, you can always move, assuming the contract has been honoured. The owner will have to wait until you find another place and make sure you are actively looking. Don't agree to a contract you don't feel comfortable with and never feel pressured. If the owner gets difficult, go to the rental tribunal, this will automatically result in a 3 month waiting period, which buys you more time to look for a place if the market is saturated. Unfortunately renting can be a stressful thing, but in the end it will work out. But when you get a new place, make sure you are happy with the contract as this in the end forms the basis of everything. If you go through an Estate Agent, remember they are scummy slithery snakes and their contracts are most of the time borderline illegal.

This is how I go about it and making changes until both parties are happy:

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The landlord can ask 30% if he wants to!

If you cant afford rent at this rate… jump in and buy!
 
To all the people saying OP should "just buy" is great and all but not always the right move and definitely not always viable. It may be a terrible decision based on your situation.
 
WebDesignCompany said:
That's what the landlord wrote
"Any new lease agreement will need to be brought in line with current rentals in the area.
In addition, there will need to be a deposit 'top up' to keep the amount held as a deposit at a value of 2 months rental."

So means next to an 26.4% rental increase they want in the new lease also a top of the deposit.
Whereby the current contract states that it would be just a 10% increase if contract gets renewed.

And the landlord is asking for my decision by tomorrow.

That's the actual term in the current contract!
View attachment 1732193
Click to expand...
Your Landlord has 3 legal options:

1. renew lease with max 10% increase as stipulated in lease agreement extension
2. continue as a month to month agreement with max 10% increase, or
3 cancel/not renew lease agreement (often with 2 months notice unless otherwise stipulated. Law is less) and you are required to vacate. Hence the landlord wanting your answer before end June.

You really need to discuss this with the landlord urgently. I suspect he will terminate your lease should you not either accept his terms or come to a compromise. That is the landlord's right. Yes, he will now have to find a new tenant and this should be the main basis of your counter-offer. If you were a bad tenant in general, I doubt a renewal offer would even be contemplated by the landlord.

Tenants do enjoy (unbalanced) protection from landlords in this country but if the landlord gives you the required notice and you fail to vacate, even the Rental housing tribunal will (eventually) find in favor of the landlord, who can come after you for further costs. Your ITC/ TPN/Lightstone rental record will be adversely effected, which could cause red-flags to future Landlords.
 
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Speak to him and ask him if he wants you to move. Remind him of the contractual 10% and you do not want to pay more than that. Remind him that finding another amicable tenant will be very difficult.

If he disagress, give 1/3 months notice (as stipulated in your contract) and move.
 
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Gazbal said:
Your Landlord has 3 legal options:

1. renew lease with max 10% increase as stipulated in lease agreement extension
2. continue as a month to month agreement with max 10% increase, or
3 cancel/not renew lease agreement (often with 2 months notice unless otherwise stipulated. Law is less) and you are required to vacate. Hence the landlord wanting your answer before end June.

You really need to discuss this with the landlord urgently. I suspect he will terminate your lease should you not either accept his terms or come to a compromise. That is the landlord's right. Yes, he will now have to find a new tenant and this should be the main basis of your counter-offer. If you were a bad tenant in general, I doubt a renewal offer would even be contemplated by the landlord.

Tenants do enjoy (unbalanced) protection from landlords in this country but if the landlord gives you the required notice and you fail to vacate, even the Rental housing tribunal will (eventually) find in favor of the landlord, who can come after you for further costs. Your ITC/ TPN/Lightstone rental record will be adversely effected, which could cause red-flags to future Landlords.
Click to expand...
^^This :thumbsup:
 
Speedster said:
Is it your position that the tenant can insist on staying on in perpetuity at 10% escalation should he wish to?
Click to expand...

Gazbal said:
Your Landlord has 3 legal options:

1. renew lease with max 10% increase as stipulated in lease agreement extension
2. continue as a month to month agreement with max 10% increase, or
3 cancel/not renew lease agreement (often with 2 months notice unless otherwise stipulated. Law is less) and you are required to vacate. Hence the landlord wanting your answer before end June.

You really need to discuss this with the landlord urgently. I suspect he will terminate your lease should you not either accept his terms or come to a compromise. That is the landlord's right. Yes, he will now have to find a new tenant and this should be the main basis of your counter-offer. If you were a bad tenant in general, I doubt a renewal offer would even be contemplated by the landlord.

Tenants do enjoy (unbalanced) protection from landlords in this country but if the landlord gives you the required notice and you fail to vacate, even the Rental housing tribunal will (eventually) find in favor of the landlord, who can come after you for further costs. Your ITC/ TPN/Lightstone rental record will be adversely effected, which could cause red-flags to future Landlords.
Click to expand...
 
Speedster said:
Is it your position that the tenant can insist on staying on in perpetuity at 10% escalation should he wish to?
Click to expand...

RedViking said:
Contract aside, One thing I have learned from renting is never feel entitled. If push comes to shove and the owner does not want to negotiate, you can always move, assuming the contract has been honoured. The owner will have to wait until you find another place and make sure you are actively looking. Don't agree to a contract you don't feel comfortable with and never feel pressured. If the owner gets difficult, go to the rental tribunal, this will automatically result in a 3 month waiting period, which buys you more time to look for a place if the market is saturated. Unfortunately renting can be a stressful thing, but in the end it will work out. But when you get a new place, make sure you are happy with the contract as this in the end forms the basis of everything. If you go through an Estate Agent, remember they are scummy slithery snakes and their contracts are most of the time borderline illegal.
Click to expand...
 
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