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Contract law usually doesn't allow for lifetime contracts because people can't consider such a long timespan logically. Rent control is the same thing. It force
by true_religion 9y ago
Contract law usually doesn't allow for lifetime contracts because people can't consider such a long timespan logically. Rent control is the same thing. It forces a contract with on going payments and services with no end date. Is there any escape clause?
- eric_h 9y agoAs far as I'm aware, people occupying rent controlled apartments (in NYC) can opt to be bought out by their landlord. I've heard a number of stories of people using that windfall (generally buyouts are on the order of $10^4-10^5) to improve their general living situation, and I've also heard stories (including someone I knew personally) of people squandering that windfall and ending up living out of their car.
- mjcl 9y agoIsn't an NDA a lifetime contract?
- pc86 9y agoI have never seen (and certainly have never signed) an NDA that covers an indefinite period of time.
- srtjstjsj 9y agoIsn't a sale a lifetime contract?
- pc86 9y agoApartment rental is explicitly not a sale. We should probably keep talking about the same thing and not keep moving the goalposts to suit our argument.
- amorphid 9y agoIANAL... I believe the landlord is bound by the language of the law, not the contract. If the law enabling grandma's rent control were fully repealed, there'd be no rent control-related reason the landlord couldn't raise Grandma's rent to market rent. Basically, Grandma AND the landlord both needed to know what they were getting in to. Grandma: "I want this apartment." Landlord: "OK, it's $250/month with rent control. But just so you know, if they ever repeal that law, and market rate is more than the $250/month you're paying, I'm raising you rent." Grandma: "Understood. If I were the landlord, I'd raise the rent on the grandma renting my apartment, too."