This office lease provision states that Base Rent shall be $25.50 per rentable square foot. During the Renewal Term, Base Rent shall be increased by the change, if any, in the Consumer Price Index. In no event will the Renewal Rental Rate be less than the Base Rent.
Maine Provision Calculating the Rent Increase
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US-OL24017D
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How to fill out Provision Calculating The Rent Increase?
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FAQ
A landlord must give you adequate notice before you are evicted or your rent is increased. The landlord cannot abuse your security deposits. Tenants always have a right to a court hearing before the landlord can evict them. Unfair rental contracts can be in violation of the Maine Unfair Trade Practices Act.
Your landlord can use it to cover any unpaid rent or damages. You may not use your security deposit to cover your last month's rent unless your landlord agrees. ing to Maine lease and rental agreement laws, landlords cannot charge you more than two (2) times your monthly rent for a security deposit.
Penalties for late payment of rent. A landlord may assess a penalty against a residential tenant for late payment of rent for a residential dwelling unit ing to this section.
If the landlord increases rent more than once in a 12-month period, and the increases add up to a total increase of 10% or more, the landlord must provide at least 75 days' written notice prior to any increase that brings the total increase in rent to 10% or more.
That percentage difference is determined by multiplying the original rent by the amount of the increase and then adding the dollar different to the original rent. The steps: Convert the percentage figure (3.1%) into a decimal by dividing it by 100. Example: 3.1 / 100 = .
In Connecticut, landlords can ask for up to the equivalent of two months in security deposit in addition to the first month's rent. For tenants over 62 years old, the limit for a security deposit is up to one month's rent.
The Rent Control Ordinance, approved by voters in November 2020, went into effect January 1, 2021.
Landlords in Maine can collect the first month's rent in advance. However, landlords can only collect an additional advance payment up to the security deposit limit, whether called a ?security deposit? or ?last month's rent.? ?Last month's rent? is considered a security deposit by the law.
