Legal Question in Real Estate Law in Illinois

Amount of Rent Increase

My builing was recently sold & the new owners are rehabbing all vacant aparments and making various improvements throughout the building. I previously signed a 1yr. lease agreement (6/1/01-6/1/02) and planned to renew my lease for another year. 2 days ago I received a new lease to sign and return to management, but they want to increase my rent from $440/mo. to $595/mo. I feel this is ridiculous considering the unit is a studio apt and they aren't rehabbing my apartment (which is in very poor condition-I have a long list of things that need fixing within my unit). Is this is a legitiment increase and what are the laws in IL. reguarding this issue?


Asked on 4/08/02, 7:20 pm

2 Answers from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Amount of Rent Increase

If you can't afford the new yearly rental, it is time to move.

Read more
Answered on 4/08/02, 9:04 pm
Jay Pollak The Pollak Law Firm, LLC

Re: Amount of Rent Increase

There is no ceiling on the amount of increase that a landlord can impose at the time the lease is renewed. It may or even be unfair but the landlord can legally do it. Also he [or it] could even chose not to renew the lease at all. You have no vested right to what you consider ... or what a court might consider a "reasonable increase". Reasonable is not related to the amount a landlord can increase the rent at renewal time.

Read more
Answered on 4/08/02, 9:06 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Illinois