I have 2 tenants on one lease which expires at the end of April. When I send a Lease Renewal Agreement, can I then have them on separte leases and increase the rent?
1 Answer from Attorneys
If you're renting out one common area to both tenants, there could be problems with dividing up the space. The other problem is that now each tenant is responsible for the entire rent, so that if one defaults you can look to the other. If there are separate leases you can't do that. Why not just raise the rent to whatever you are looking for on a new lease?