Do Rent Increases Have Any Impact on the Requirement to Provide notice To Vacate?
posted 3 years ago
I've signed a lease with a property management company in the state of Illinois. The lease states that 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 the notice to vacate. However, the rent increase is substantial and I would not like to stay, given the increase.
Do I have any other options, beyond breaking the lease and forfeiting my deposit or paying the increased rent?