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In the state of Illinois - I've signed a lease with a property management company. The lease says I need to give 60 days notice to vacate before the end of my lease. My lease was a 6 month lease and will end in another 58 days. Today, they provided me a letter indicating that my rent would go up after the end of my lease.

I was intending on staying, so I have not given notice to vacate. However, the rent increase is substantial and I would not like to stay, given the increase. As best as I can tell, they've screwed me, but legally. All I've found online says that the Landlord needs to give me 30 days for a rent increase.

Do I have any other options, beyond breaking the lease and forfeiting my deposit or paying the increased rent? I did try the obvious, 'Calling them and talking' but they will not accept a 58 day notice period, and they aren't willing to keep the rent the same.

  • Does the lease specify what happens If you don't provide notice and don't leave. Does it say whether the lease is renewed for 6 more months or if it becomes month to month? – jqning Dec 31 '15 at 4:52
  • @jqning - It says that if I stay after my lease I will pay 1/5th of the monthly rent, per day. It doesn't say that the lease will automatically become month to month or six months. The letter they sent me gives me the option of choosing between 1 and 12 months for the renewal lease, but the one month less is essentially double (so I couldn't do a one month less + give notice and not lose the same amount of money). – Rob P. Dec 31 '15 at 13:40
  • With the deadlines so close, why would you need to break the lease? Just submit your 60 day notice and pay the higher rent for 2 or 3 days before you vacate. – Jeff Lambert Dec 31 '15 at 15:22
  • @watcher - The lease says that once the lease ends, I have to pay 1/5th of the monthly rent per day, unless I enter into a new lease. 3/5th's a month of rent would be a significant amount of money (but yes, it is less than my security deposit). If I enter into a new one month lease, the rent for one month is almost 2x as much as I pay now (but the extra over my normal rent would be slightly less than the security deposit. In every situation it feels like I'm losing a lot of money, because they notified me of the increase when it was too late for me to give 60 days notice. – Rob P. Dec 31 '15 at 16:50
  • I see. I was assuming a standard pro-rated daily amount for the few days after the conclusion of the lease. – Jeff Lambert Dec 31 '15 at 17:05

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