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.
Puerto Rico 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
Landlords must maintain the properties in good condition, while tenants must pay the rent on time and use the property responsibly. The Puerto Rico Landlord Tenant Law applies to all rental properties in Puerto Rico, including residential and commercial properties.
Periodic receipts from pension and retirement funds are counted as income. Lump-sum receipts from pension and retirement funds are counted as assets.
These include: 1. The right to a safe and habitable living space: Landlords are required to provide tenants with a safe and habitable living space. This means that the property must be free from hazards such as mold, lead paint, and other dangerous conditions. 2.
For people traveling from the U.S. mainland, renting a car in Puerto Rico is the same as stateside; you need to be 25 years or older, have a valid driver's license and a credit card. Driving here is on the same side of the road as the mainland as well.
It is illegal for the owner of a property to get the tenant out by force. The property owner must file a complaint for eviction in the court and obtain a judgment in their favor for the eviction procedure to be carried out.
The formula is designed to ensure that families who receive Section 8 assistance pay no more than 30% of their income towards rent. In California, the maximum amount of rent that Section 8 will pay varies depending on the area and the family's income.
Puerto Rico has nearly 4,000 vacation rentals, including studios, apartments, houses, and villas, and you'll find them in just about every corner of the island?from the center of Old San Juan to the Central Mountains to neighboring islands of Vieques and Culebra.
The increase must be up to market and justifiable ? however, there is no cap on the increase. If the tenant's lease is fixed ? the landlord cannot increase the rent.
