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Yearly lease change to monthly lease

Started by okai
about 12 years ago
Posts: 23
Member since: Aug 2009
Discussion about
My landlord wants to switch from yearly lease to monthly with a 10% rental increase. Should I take it?
Response by NWT
about 12 years ago
Posts: 6643
Member since: Sep 2008

There's no such thing as a monthly lease. With no lease, either tenant or landlord can terminate with 30-day notice, and landlord can raise rent at any time, with you either liking it or lumping it.

http://www.housingnyc.com/html/resources/attygenguide.html#3

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Response by alanhart
about 12 years ago
Posts: 12397
Member since: Feb 2007

He's probably trying to get the lease onto a pricier peak-season schedule.

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Response by okai
about 12 years ago
Posts: 23
Member since: Aug 2009

Appreciate it! But I wonder why they have to raise the rental, given that winter is hard to find a tenant for a landlord. I'd rather move out in winter to find a better deal than wait till summer to be kicked out. Right?

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Response by Truth
about 12 years ago
Posts: 5641
Member since: Dec 2009

If your lease is up soon you can always move out then, if you find a better apartment/deal.
People move year-round and the landlord will rent the apartment to another renter, even in winter.
If you move out before your lease is up your landlord keeps your security money.
Does your lease end next summer? Start looking in the Spring for a new apartment to rent. You can't "be kicked-out" until your lease is up. As NWT points out above, your landlord can't pull a switcheroo to a "monthly lease".

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Response by aboutready
about 12 years ago
Posts: 16354
Member since: Oct 2007

The lease has to be up, or else they couldn't raise the rent. Find another apartment.

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Response by fieldschester
about 12 years ago
Posts: 3525
Member since: Jul 2013

I agree with aboutready's legal interpretation of the facts.

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Response by okai
about 12 years ago
Posts: 23
Member since: Aug 2009

Is that normal to stay for a few months without a lease? It seems I need just 2 months stay after my lease is up in Dec.

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