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FINDING A RENT CONTROLLED LEASE

A rent controlled lease is similar to a rent stabilized lease and have been around since the 60's. In a world where rent is constantly fluctuating it is important to have some stability. Not all leases are rent controlled but this is something that you should be on the lookout for. Find a suitable lease for your specific rental needs by looking for rent controlled leases.

Finding a rent controlled lease is a big benefit to you. A rent controlled lease means that you do not have to worry about unexpected price changes in your rent when you get your security deposit back. How much you pay for your rent on a monthly basis is locked in for the term of the lease. At the end of the lease your landlord may be able to change the price by a certain percentage but not by an extraordinary amount.

One of the things that come with a rent controlled lease is that you will need to adhere to the other components of the lease as well. What this means is that you are expected to remain in the apartment and pay rent for the duration of the lease. Once the lease is over your landlord can renew the lease or you can choose to move on. However, moving out before the lease is over is a direct violation of your agreement and may result in problems with renting down the road as well as required rent payment until the end of the lease anyway.

Rent Controlled Apartment Search

Finding a rent controlled lease is all about keeping your options open. When you are looking into houses or apartments you may wish to enquire with the property managers to see if the unit is rent controlled. If not, then it might not be worth your while checking the place out.

You can search through your local city government website which often as a list of different units and homes in the area that are rent controlled. While not all city sites will include this feature, many of the larger cities in America do. Once you have a list of rent controlled places in the areas where you want to rent, you can see if any of the buildings are taking tenants.

If you are unsure if an apartment is rent controlled then there is no harm in asking. These days many houses and apartments are either rent controlled or rent stabilized to protect the renter. If your landlord doesn't have a rent controlled lease in place then there is nothing protecting you from a rental rise down the road. However, for many renters, this is a risk they are more than happy to take. If the rent is too high at the end of your leasing term, then you can always move on to a cheaper apartment.

Make sure you read the fine print when it comes to signing any lease agreement. If you are unsure about a clause or phrase then ask your potential landlord about it. You may want to take the lease to a real estate lawyer to read through and ensure that everything is accurate and up to the code. A lawyer will also be able to help you determine if a rent controlled lease is something that you will need.

Finding a rent controlled lease is all about exploring your options. Look online for houses for rent, check your local city website and get on the phone to property managers. A little action will go a long way when it comes to the fast paced world of renting.

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