Can a landlord increase your rent above the current market asking price?

Asked almost 2 years ago - Chicago, IL

My lease will be up for renewal early next year. I am currently paying $5 less than the high end range for the apartment. Could be rent be legally increased beyond $5.

Attorney answers (2)

  1. Emma Lee Scott

    Contributor Level 13

    5

    Lawyers agree

    1

    Answered . Unless you're in a public housing unit or government subsidized unit, there is no legal limit to the amount a landlord can charge. Typically, they'll charge what the market will bear.

    If they offer you a renewal at a rate you're unconfortable with, you're under no obligation to accept. On the other hand, they're under no obligation to offer you a renewal.

    This answer is intended as informational only, and does not constitute legal advice or form an attorney-client... more
  2. Adam J. Lysinski

    Pro

    Contributor Level 9

    1

    Lawyer agrees

    1

    Answered . I agree, additionally keep in mind that you have no obligation to renew, just like the landlord has no obligation to keep the rent at a certain price or renew the lease. I encourage you to treat this practically, and consider all factors such as moving costs, etc. Good Luck.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

27,462 answers this week

3,012 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

27,462 answers this week

3,012 attorneys answering