It is surprising that the owner allowed a 5 year lease since he/she can not make unilateral adjustments to the terms during the 5 year period. Ask yourself if the 5 year period benefits the tenant or the owner. With rents on the rise for the foreseeable future the owner may be agreeable to terminate the lease in hopes of finding a tenant that will pay more for the property on a monthly basis.
Renters have rights as do landlords. You will want to consult with an attorney that specializes in real estate and specifically with renters. Lawyers specialize in particular types of law. No two Lawyers are alike. Do your research and interview several Lawyers before you decide to hire one. It is worth your time and money to do your due diligence.
Todd Adams, Broker
Keller Williams Realty Professionals
Tom Inglesby, Broker
RE/MAX Equity Group