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TOPIC: Lease agreement and rent escalation

Lease agreement and rent escalation 12 years 4 months ago #2114

I have had a 24months lease which started on the 1st of March 2010 will be expiring on the 28th of February 2012. In the agreement, there is a section which talks about escalation quote
“The Lessee acknoledges that there will be a rental increase of 10% on the expiry or anniversary date of the initial agreement, which ever comes first."

Since the anniversary i have been paying the same amount from the initial agreement (without the 10%) and the Lessor didnt complain. 10 months down the line after telling him that i am not going to renew my lease with him, thats when he tells me i need to rectify the shortfall. Was this my fault that he didnt notify me of the increament in time? Am i not going to loose my deposit because of this. Is it legal for him not to give me back my deposit because of this?
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Re: Lease agreement and rent escalation 12 years 4 months ago #2122

  • Martin
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Did you pay on an invoice that was supplied to you on a monthly basis?
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Re: Lease agreement and rent escalation 12 years 4 months ago #2124

we were just given banking details in which every month we could transfer the rent into. My bank statement/ his would save as proof of payment.
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