Rentals in Fort Lee>Question Details

John Luis, Home Buyer in Fort Lee, NJ

For how long can the lease be? What rent increase can one expect after the lease is up?

Asked by John Luis, Fort Lee, NJ Mon Jan 21, 2013

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A lease can be for any length of time both the landlord and tenant agree upon.
There can be an escalation clause permitting rent increases written right into the lease. The amount also must be agreed upon by both parties. Typical rent increases vary from between $50-100/month per year, but is entirely negotiable.
If you would like a copy of the NJ landlord tenant handbook, let me know. I can email one out to you.
Web Reference:
0 votes Thank Flag Link Mon Jan 21, 2013
Typically residential leases are for either one or two years. You can have longer but it is very uncommon. As for rent increases, in the State of NJ, as long as you are not in a rent controlled building, the landlord may raise the rent as much as he or she desires, as long as it is not "unreasonable." Hope this information helps. If you require any further assistance, please do not hesitate. Good luck!
0 votes Thank Flag Link Mon Jan 21, 2013
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