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.
Fairfax Virginia Provision Calculating the Rent Increase
Category:
State:
Multi-State
County:
Fairfax
Control #:
US-OL24017D
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Word;
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How to fill out Provision Calculating The Rent Increase?
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FAQ
Prioritization is given to households who are currently facing eviction, whose income is at or below 50% Area Median Income (AMI), and/or include an adult who has been unemployed more than 90 days.
When Can a Landlord Increase Rent? A Virginia landlord may increase rent at the time of a lease renewal, or he/she may increase rent at any time on a month-to-month tenant so long as the appropriate notice is provided.
How much can a landlord raise the rent? There is no rent control in Virginia. Therefore, there is no limit on rent increases a landlord can impose, but they must give a 30-day written notice of the increase. If a tenant objects to the new rent amount, they have the right to vacate the unit within that 30-day period.
There is no limit or ceiling on rent increases in Virginia. The Dillion Rule applies in Fairfax County so there are no statutes or ordinances that limit the amount a landlord may charge for the use and occupancy of their property as a residence by tenants.
The prescribed amount is 110% of the percentage increase in CPI for rents. That is, a lessor can increase the rent on a property by 10% more than the increase in the CPI. To calculate the prescribed amount: go to the ABS website to look up the latest quarterly CPI Report for rent in the ACT.
Landlords may only raise rent at the end of their lease terms, and there's no Virginia rent increase limit landlords have to know about. Landlords may increase their month-to-month tenants' rent if they provide at least 200b30 days'200b written notice prior to increasing their rent.
How much can a landlord raise the rent? There is no rent control in Virginia. Therefore, there is no limit on rent increases a landlord can impose, but they must give a 30-day written notice of the increase.
Is Virginia a Landlord-Friendly State? Overall, this is considered a landlord-friendly state since the Virginia landlord-tenant law doesn't impose any rent control policies for landlords.
There is no rent control in Virginia. Therefore, there is no limit on rent increases a landlord can impose, but they must give a 30-day written notice of the increase. If a tenant objects to the new rent amount, they have the right to vacate the unit within that 30-day period.
