Q: Can an apt owner renege on agreed upon rental terms after leasing agent and renter sign tentative agreement?
I am a military member (in Virginia) renewing a lease under the Rental Partnership Program (govt offers landlord priority recommendation and positive endorsement in exchange for 5% rent discount to military members). Leasing agent and I agreed upon specific terms and signed a Letter of Intent to that effect. Said terms were initially offered by the leasing agent without negotiation or argument on my part. Landlord company reneged on this agreement and counter-offered a much higher rent for the stated purpose of negating the discount required by the RPP, which when applied, would cause the total monthly rent to be lower than the previous lease.
A: Generally, a letter of intent is not a binding contract. In addition, it sounds like if the landlord had not signed the lease with the terms that your proposed, the landlord did not make a formal commitment but the lease was still subject to further negotiation.
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