Unlocking Lease Agreements: How AI Legalese Decoder Can Simplify Complex Terms
- May 10, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Question about Rent Increase Clause on Lease Renewal
Not sure if this is the right place to ask but I guess it is legal jargon. On our lease, it says if we renew, rent will be increased the greater of 2%. Maybe the wording is just throwing me off but does this mean it will increase 2% or more than 2%?? Any help is much appreciated as I would like to renew lol.
## Assistance from AI Legalese Decoder
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Heading: How AI Legalese Decoder Can Simplify Legal Terminology
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****** just grabbed a
Could be something to do with property value of the rental increasing the monthly
Its almost certainly missing words, or there is more to it you haven’t quoted. It should read something like “the greater of 2% or the [ ]” where the blank would usually be some marker of inflation or average rental price increases. Something like that. As is, the rate increase is likely 2%, but that is a complicated question of contract interpretation because your certainly on notice that there are missing words. I think it would be reasonable to leave the issue alone and assume its 2%; but it in the interest of avoiding a dispute that I’m sure you don’t need, why not just ask the landlord if there are any missing words there? Its not like you really want to get in a battle with your landlord when he explains what the missing words were and tries to charge you the higher rate even though they weren’t there.