You may already have a standard lease agreement for all your tenants and that’s good. You probably also know the important details that should be included in the contract.
However, there may be unfavorable events that could trigger you to change or add rules to that agreement. Or maybe you may want to earn more profit than you currently do. The question is, are you allowed to make changes mid-lease?
Can a landlord change the terms specified in the agreement which was already signed by both parties? The first answer is no. Because basically, the lease agreement is a contract and it should not be changed as long as it is valid. Even though the landlord owns the property and might technically have the right to change the rules, it does not work that way especially if it affects the living situation of the tenant and it is financially burdensome to them.
Some landlords may want to change the contract to:
- Increase the rent before the lease ends
- Make tenants pay for amenities that were previously free
- Making changes in the date of rent payment and late fees
- Changing rules based on a tenant’s actions
- Changing your lost-key rules
These changes may be technically allowed but is there any way a landlord can implement them mid-lease?
Yes, there are instances. But first, a landlord must acquire the tenant’s consent. A change in the lease agreement is not considered valid if both parties have not signed the contract with the addendum. A lease addendum is made to amend a specific part of the lease agreement. A landlord would need to negotiate with the tenant for it to take effect.
One example is when you have a no-pet policy and the tenant wishes to keep a pet on the property. A negotiation can be done between you and the tenant until a compromise is reached. You may ask for an additional fee for allowing a pet. If they agree, then you can formulate the addendum and have them sign it.
There are also instances when you need to change the lease agreement to coincide with a new state law. If you are following the law, a tenant cannot dismiss or refuse the change.
When can the landlord implement changes in the rules?
A landlord can change the rules once the lease agreement has expired. A notification of any changes done in the contract should be done before the end of the tenant’s lease should they be planning to sign another lease agreement with you. Usually, it should be done at least 30 days prior to the end of the lease.
Can rules be changed if it will not affect their daily lives and financial state?
The answer is yes if these are minor rules. They are more of guidelines rather than rules. Some landlords tend to add these guidelines so that tenants can benefit from following them. These are usually added if there are behavioral issues with some tenants.
For example, there are complaints that some tenants do not clean up after themselves when using a common area in the property. A landlord can add a guideline wherein all tenants are responsible for keeping that area clean.
Ideally, you should have an iron-clad lease agreement ready before you even post a listing at Padleads because once you do, tenant applicants will be coming in. Before you know it, you are meeting tenants and screening them. But you should know that sometimes there are changes that must be done to improve the living situation of your tenants. You must be prepared and open to any possible alterations in your lease agreement because there will be factors that can provoke you to make those changes.