Making amendments to leases

[Account Closed]

We recently took our properties back from a 3rd party management company, so we are now self operating. We have been renewing their original leases from the management company, however, we would like to change some things from those leases. Do we need to make those changes at renewal or is there a way to make changes while in a lease? We have 130 doors, so for everyone to be on a different page could get very confusing, very quickly.

For example- a change we are wanting to make: we pay water on some of our units, however we have a few that have been running unreasonably high. We’d like to add in a clause saying we will cover the water to “x” amount, anything over will be billed to the tenant. We have 28 units like this- the only reason we pay rent is because they are duplexes on a single meter and it is expensive to split the meter (especially times 14).

Any suggestions?

[Nathan Gesner]

I agree with Max: you can't change the existing contract unless all parties agree. I find it unlikely the tenants will agree to changes that may cost them more money.