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Updated over 7 years ago on . Most recent reply

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3,042
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Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,770
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3,042
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Interpretation of Succeeding Lease Terms (Ohio)- Raising Rent

Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Posted

In the acquisition of a property with an existing lease and clause that states rent can be increased in succeeding lease terms (with proper notice), is this a strict interpretation that rent cannot be increased in the current term of the lease? Does anyone have experience in this scenario? Were you legally able to increase rents when inheriting a tenant on a 1-yr lease? How did you do it?

  • Brandon Sturgill
  • 614-379-2017
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Realize Property Management Group
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