Leasing & Rental: Fill & Download for Free

This happens more often than you might think. In the UK, for instance, land owners resist selling land which has been in their family for centuries, but it is common for tenants to lease land for 99 years and then build a house on it. What happens at the end of 99 years is that, either the lease is renewed (which happens a lot although the original parties are long dead), or the house reverts to the landlord. He can then lease the land and the house to someone else.Some of these 99 year leases have been renewed many times over the centuries, but the key issue is that the house is considered a “fixture” (i.e. it is fixed to the land) and thus it runs with the land, not the tenant. The tenant leaves it behind when he goes.In Canada the land on First Nations reserves cannot be sold, but it can be leased. It is common for First Nations in or near major cities, to lease the land to people who are not band members, for 40 years (which is rather common in Canada because Canada never had Indian wars or relocated its native people like the US and they are sitting on some pretty valuable real estate).The thing is that 40 year leases do expire after 40 years, and the average house lasts 100 years. Thus at the end of the lease the First Nations get a nice house which is good for another 60 years. The alternative is that the tenant has to negotiate a new lease, which is usually much more expensive than the original one since it comes with a nice house to live in.These lease negotiations do come as a complete shock for people who thought they owned these ritzy houses in places like Vancouver. They end up having to pay a much higher rent for a house they foolishly assumed they owned.

Yes, but be reasonable. If there’s a misplaced decimal point and the rent is supposed to be $1200 and the lease you signed has it $120.0 then do the decent thing and sign a corrected lease.I always had both numbers and words for the rent $1200 (twelve hundred dollars) to avoid such a situation.If you signed a lease from before a rent increase and every one else is paying $50 more, that is different.A lease is a legal binding document - binding on both parties. If the blunder is clearly something that will cost him considerable lost rent - the right thing might be to agree since clearly the rent amount was an error.If it is scenario two or he just realized you drive a Porsche then hold him to the terms of the lease.

Your property lease. Although it's not always the way you'd think.I was living in Atlanta ~10 years ago and won a 1-year lease at a charity auction. My rent was ~$600 a month (prepaid), market rent was ~1,500. A good deal! The security deposit was only $150 (more on that later).A year is nearly up and I sign a lease at a new place. About a month before I am ready to move out the leasing agent for the apartment complex stops me and asks about my renewal. We had always been cordial to this point, but things were about to get very nasty.Agent: Are you renewing for another year?Me: No, I have a lease on a new place, I am moving out.Agent: Well we require a 2-month notice, so you have to give us a notice in writing, and we are going to charge you the market "month to month" rate of ~$2,000 per month. If you don't live here during that time it is your fault.Me: Let me read my lease and get back to you.As I am in real estate, I know how to dig through a lease. I read it and set up a meeting. About a week or two later:Agent: Thanks for coming back in, I hope you understand how much trouble you are in and your financial obligations. I have spoken to the corporate office about your situation. They are willing to make the 2-month notice a "fine" and only charge you $3,500 since you will not be living here.Me: Yeah, about that. Per the lease, you are required to give me notice of my new rental rates before the 2-month notice commences. Failure to do so invalidates the 2-month notice.Agent: We did that! We left it under your door!Me: I don't know if you did or not, either way, it clearly states that the notice must be given VIA certified mail, return receipt.Agent: But hand delivery works just the same.Me: Not according to the lease. (I hand her a copy of the lease with the notice section highlighted) Did I sign a receipt stating that I received the notice? I did no such thing. Per [section] all notices must be sent certified mail. Here is a copy of a tracking number for my notice not to renew, sent certified mail return receipt requested. It should be received by your office today, if you don't have it already.Agent: We got it, but...Me: (Interrupting her) As my lease is up in 15 days (some time had expired between the meetings) the 1-month notice puts me half a month into next month. You can keep my security deposit for these 15 days. My old lease rate is still in effect as notice was not given of the new rates. This gives you 2 weeks to splash and dash apartment upon my departure and have a new tenant in by the first of the following month.Agent: It does not work like that.Me: Call corporate, I think their attorneys will side with me. Have a good day!I never heard a peep from them after that, no collections, no letters. I stayed my extra 15 days (which helped me with moving to the next place) and taught that leasing agent she really needs to learn more about the product she has control over.