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Apartment Lease Contract
I recently decided to pull out my apartment lease contract and take a look at it and I seen somthing that caught my eye, while it may be somthing I don't fully understand, I thought I would just ask anyways... Under the "Special Provisions and What if clauses" it states " Resident will recieve a concession of $100.00 as long as rent is paid on or before the first of the month. Base rent is $535."
So does this mean that I should be paying $435.00 a month or?
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Lease Language
I would read that as holding rent to be $535, but that if you pay on or before the first of the month you get a $100 concession such that you only have to pay $435. The same effect could be achieved by having a $435 rent, and a $100 late fee if rent is not paid on or by the first of the month - but there might be limits on late fees.
In any event, not having read the full agreement, if your landlord is taking a different perspective on what the language means I suggest you either consult a local landlord-tenant lawyer about the meaning of the provision within the full context of the lease, or that you discuss the meaning with your landlord.
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Well right now I pay $525.00 a month so, Im thinking that it might be a typo on their part, if it is, are they legally bound to that?
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Based on just what you've said, it sounds like your rent is 435.00 and they're screwed.
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Rent Concession
From what you have written I would venture that the lease is supposed to offer a $10 rent concession, and somehow $100 was entered by mistake.