Q: is there a limit on how much I can raise the rent on a commercial tenant?
I originally had a lease with these tenants but has since lapsed and no new lease signed, have not raised rent in several years and frankly would be happy to get rid of these tenants, I am wanting to sell my property and tenants have shown interest in purchasing but no viable offer. In the mean time, I want to raise their rent, are there restrictions as to how much I can raise it?
A:
So far as I know Florida has never imposed any such restrictions on commercial rents, which are seen as an integral part of freedom of commerce.
In your situation your ability to raise the rent in this situation is totally dependent on the terms of the old written lease. If the old lease term for rent is locked in by a clause in the old lease you may be stuck; however, if the old lease has expired the length of tenancy went down to monthly.
Suggest you try negotiating a much higher rent and give them some reasonable time to accept or move out. Be prepared to enforce if necessary.
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