Delaware Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent

State:
Multi-State
Control #:
US-OL4A012A
Format:
Word; 
PDF
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Description

This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.

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FAQ

Tenant Rights to Withhold Rent in Delaware Tenants may withhold rent or exercise the right to "repair and deduct" if a landlord fails to take care of important repairs, such as a broken heater.

Limits on Rent Increases Landlords cannot raise rent more than 10% total or 5% plus the percentage change in the cost of living ? whichever is lower ? over a 12-month period.

§ 5308. Essential services; landlord obligation and tenant remedies. (2) Upon written notice to the landlord, keep 2/3 per diem rent accruing during any period when hot water, heat, water, electricity or equivalent substitute housing is not supplied.

Indeed, in the last five years, five states have seen massive rent spikes: Arizona, Delaware, Maine, New Hampshire and New Mexico have all experienced a whopping 40% increase.

§ 5514. Security deposit. (a) (1) A landlord may require the payment of security deposit. (2) No landlord may require a security deposit in excess of 1 month's rent where the rental agreement is for 1 year or more.

Considering the regulations published in the Delaware landlord-tenant law, Delaware is not considered a landlord-friendly state. The main reason for this is that tenants have a high grade of leverage over their landlords, which can affect the way in which they manage the rental agreement.

§ 5106. Rental agreement; term and termination of rental agreement. (a) No rental agreement, unless in writing, shall be effective for a longer term than 1 year.

Delaware Renters' Rights and Landlord Responsibilities Raising Rent ? Landlords in Delaware may increase the rent to any amount for any reason with a 60-day notice. Notice of Entry ? Delaware requires a 48-hour notice from the landlord before entering the unit or property.

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Delaware Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent