I just signed a new lease yesterday 08/26/08 with a apartment complex....Do I have 3 days to cancel by law?

Question

My rent was $870 a month and now they have raised it to $1208, $338 total increase..Is that even legal??

Answer 1

No, you do not have 3 days to cancel by law.  There are no rights of recission on a lease.  You signed it and you (and the landlord) are bound to the conditions in the lease.

I hope that you didn't just learn a very expensive lesson reading what you sign...  If the document you signed says $1208 a month, you're stuck.  If the document you signed says $870 a month, they have to follow whatever procedure is necessary (spelled out in the lease) to change it to a higher amount.  If there is no provision for them raising the rent during a lease term, they could be out of luck.

good luck!

Answer 2

These are questions you should have asked before you signed. It is legal and there is no grace period.

Answer 3

If in you lease it states clearly that rent is $870 they can not raise it unless it states in the lease that ajustments can be made throughout the lease term. If it does not then you only have to pay the $870 until the lease term is up. At the end of the lease they can then raise the rent.  

Answer 4

Three day rescission periods do NOT apply to rental lease contracts.  Next time think before you sign.

Answer 5

Sure, rent increases are legal.

No, there  is no grace period, you signed a legally binding contract.