Changing terms after taking over tenants

[llee]

Hi,

I will be taking over a duplex with two existing tenants in August. The current lease agreements between the existing landlord and the tenant expire the end of 2008.

Can I request to sign a new lease, or change some terms (rent increase, utility responsibility) with an amendment to the current lease? Will the lawyer take care of it, as part of the closing?

Thanks.

 

[invst4profit]

What province ?

 

[llee]

QUOTE (invst4profit @ Jul 15 2008, 01:19 PM) What province ?

In Ontario, Ottawa

 

[invst4profit]

http://www.ontariotenants.ca/law/act.phtml

The existing agreement comes with the tenants. You can ask the tenants if they will agree to change the lease but that is unlikely. As far as rent increases I believe next years allowable increase is 1.8%.
Study up on the landlord /tenant rules, you should have them memorized before you take ownership.