Landlord wants me to pay 2 months at a time.

Submitted by beardcloset t3_10qceam in personalfinance

Vancouver BC Canada

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I have an unusual rental set up. I have been living in a new apartment as the first tenant for about a year and a half. I initially signed a 1 year lease. 3 months into the lease the landlord informed me they would like to sell the unit and offered me 1 month of free rent to vacate. I refused and said I would like to honor the 1 year lease agreement. About a month later I was informed by the landlord that the apartment had been sold and the new owner would allow me to stay.

I was contacted by a realtor representing the new landlord soon after and arrangements were made to pay rent to the new LL via e-transfers. Apparently the new LL doesn't speak English and doesn't live in the country so the realtor is my only point of contact. No new leasing agreement was offered and I didn't think to ask.

Recently I was informed of a slight rent increase, which I agreed to, but a week later the realtor asked if I could do the LL a favor and pay rent 2 months at a time. If I agree to do this the LL will not increase the rent.

How this could be a benefit to the LL?

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Comments

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ms4720 t1_j6p664v wrote

You are month to month now, get a lease and honor it or move. The landlord can say the double rent is the new monthly rent if nothing is in writing.

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00Anonymous t1_j6p6rsl wrote

The benefit to the LL is getting paid faster, which allows them to redeploy the cash faster either by laying down the mortgage or re-investing the money.

2