This document is a short lease form for the premises described within the Agreement. The lessor, in consideration of the covenants of lessee, leases and demise unto the lessee, and lessee agrees to take and lease from the lessor, for the term specified, the premises described in Exhibit A which is incorporated by reference.
Long Term Lease With Option To Buy In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-00448
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Word;
Rich Text
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FAQ
The new California law puts a statewide ceiling on rent hikes each year. So if inflation was 4% in your city last year, the maximum increase would be 9% for your unit. This provides an important check against runaway rent spikes every time a lease is renewed.
In summary, if you`re looking for a way to rent a property in California with the option to eventually buy, a lease option agreement might be the right choice for you. Just be sure to understand the legal requirements and consult with an attorney to ensure a successful transaction.
All of Contra Costa County is subject to the rent and eviction regulations for the state of California. But the only city in Contra Costa County to have actual rent control laws is Richmond. This program is aimed at promoting community and neighborhood stability, healthy housing and affordability for Richmond tenants.
Unwritten leases that are for a term of longer than one year or that expire more than one year after the agreement is reached are unenforceable. If a tenant enters into possession under an unenforceable lease, the tenant becomes a tenant at-will.
Minimum legal components of a lease are a statement of the parties, a description of the property, the duration of the lease, the amount of the rental, and the time and manner of the rental payment.
In Contra Costa County, the median income for a family of four is $147,900/year (as of June 2023). Here are examples of who needs affordable housing: ➢ A single person earning $24/hour ($50,000/year) would be considered Very Low-Income at 50% of the area median income or AMI.
Ing to AB-1482, the Tenant Protection Act of 2019, landlords in California are only permitted to increase rent by 5% plus 10% or the annual inflation rate, whichever is lower.