Lease increase
I own my spa business in the state of New York. I am renting the space where I conduct my business from a salon (salon occupies majority of the space and I have 3 rooms).
I received a letter from the salon advising me that they are looking to increase my rent by 50% at the time of the renewal of the lease (which is in 6 months). Please note that salon pays rent to the landlord of the property. My questions are:
1. Is it legal for the salon to raise my rent by 50%?
2. If I choose to leave, how many days/months of notice am I obligated to give to the salon re: my leave?
Thanks.
Re: Lease increase
1. Is it legal for the salon to raise my rent by 50%?
A. If there is no written lease, yes. If there is a written lease, salon must abide under the terms of the lease.
2. If I choose to leave, how many days/months of notice am I obligated to give to the salon re: my leave? Thanks.
A. If there is a written lease, you must abide under the terms of the lease. If there is no written lease, 30 days notice.
Mike.