does this sound right? *OT a little long*

Adrianne - posted on 01/15/2010 ( 3 moms have responded )

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Ok, my husband and I are looking to rent a different home at this time. We have looked and looked and looked and there is just nothing around here worth living in for rent without paying an arm and leg for something that's falling apart. Well, we found this one house we like, totally remodled although it's a tad small but oh well. So, we got the lease agreement 2 days ago to read over for a couple of days before we sign it. Around here not many people do lease agreements, but I get the jist of them. I know that if you break it they will keep your deposit and/or take you to court to get the money that would be owed to them for the months remaining in the lease. However, in this lease it says that after the said date the lease is over if you wish to renew the lease the rent will increase by 3-5% or by whatever the market index is at that time, up to the home owners discretion which one. Does that sound normal? I have never heard of anyone uping rent to renew a lease? This has got me hesitant to sign to it, as well as my husband. What do you think??

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Adrianne - posted on 01/16/2010

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Thanks!! I wasn't sure.. like I said around here that's not real common, and this is the home owners first time renting out a house...so I don't know if they are just being extra cautious or what. I just hate to say we would be there for 2 years and then at then end of 2 years we still haven't found the house we want to buy or we just really wanna stay there another year and have to end up paying $50.00 more a month just because we didn't sign the lease for that long to begin with...kinda like a you don't really know what's going to happen in a year thought process going on there lol. I know they don't want to get screwed in the rental business but I also don't want to get screwed as a renter ya know.. I will be glad when we finally buy..

Stephanie - posted on 01/16/2010

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I am not sure about every where, but we live in Dallas,TX and that is pretty standard for even renting an apartment. They raise the rent when you resign....that is why we try to sign as long of a lease as possible.

Best of luck to you!

Shana - posted on 01/16/2010

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I think that sounds like trouble> I dont think I would . if you both are hesitanting then i would go with your gut and trust that you both have your best intrest for your future .

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