rent dispute over $20 increase-what to do?

[Marci Stein]

Tenants have been renting for 4 years now ALWAYS on time...They are perfect tenants. However, i noticed the lease states rent is $ 895.00 a month, NOT $875.00 

I just noticed this after 3 years (I know). I asked them to start paying the agreed amount on lease and they said they have been paying the lesser amount for 3 years and i accepted it so it should continue till end of lease (another 16 months). 

Am I unfair to ask more? I don't wan to rock the boat as they are good tenants but they did agree to the higher amt when signed lease . 

What would you do?? 

[Joel Owens]

Did you create the original lease or was this lease signed and you inherited the tenant??

When you buy the tenants should have signed an estoppel stating rent they were paying and amounts. It's best to have this notarized by parties on the lease prior to closing.

You have owned this property you said for years and are now just looking at the rent amount in the lease? Do you know how that sounds?

How low is your rent compared to others in the area? If your rent is 895 but everything else is 1,200 the tenants have less leverage to not agree unless this is a rent control unit. If rents are 900 for the area and you push a 20 per month increase to 895 they might leave for a better property. If they lived there for awhile you might have thousands in repair costs to get rent ready again plus lost income from being vacant.

Usually after the first year the lease goes month to month where you can make changes unless your lease states otherwise.

If it's a pro-tenant state a judge would eat you alive in court not knowing what the lease says for years after buying and accepting the 875.

No legal advice given.