rent increases

[phantom]

can anyone tell me what a fair rent increase percentage is, over the course of a lease? is 3-5 % yearly fair?

[RWSmith]

3% to 5 % over 15 to 20 years can add up to a lot of money.
I like to use the CPI index with a cap of 3% per year.
Good -Luck
Reynolds

[phantom]

thanx reynolds. the lease on what i am currently looking at has an annual increse of 5 %. but how would i negotiate a lease thats already in effect from the previous owner. and is in the terms of sale?

[RWSmith]

I think the best time to re-negotiate a lease is before you buy the laundry.
The sale should be contingent on the lease that you want.
The seller might have to give the landlord some up front cash to change the terms.
Once you have signed the agreement you are really at the mercy of the landloard. You can try and have the lease terms changed but don't hold your breath.
Don't worry we have all been there before.
Good-Luck
Reynolds