Landlord Question and Answer Forum
I have a tenant whose lease expires August 17. In his new lease I am lowering his rent from $700.00 to $650.00 per month. On August 1, does he pay $700.00 or $650.00.
Pauline P, PA on Monday, July 11, 2011
RE: Lease Renewal
Depends on how you write up the lease. If you are saying the rent is due on the first and rent is due on the first, than you may just prorate the August amount to $675.00 and state that in your lease or be nice and state that it's 650. Also, be careful what the security deposit laws are in your area, lowering the monthly rent may reduce the amount that you are allowed to hold and you may have to do an inspection of the property and return some of the deposit money.
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