11 ms·

I wasn't aware that if you decided to rent some of your property, that you had to do so in perpetuity until the end of time. Did rental agreements 50 years ago

I wasn't aware that if you decided to rent some of your property, that you had to do so in perpetuity until the end of time. Did rental agreements 50 years ago not include a right of termination for both parties? Did they not need to be renewed annually like virtually all do now? Or are they only doing this because they want her out a few months earlier than agreed?

patio11 12y ago
Rental agreements carry a no-fault termination option or option to elect to not renew after the lease has expired virtually everywhere in the US except California (and New York City, maybe?), where tenant's rights legislation is very, very toothy. It is largely an artifact of rent control. You can't have effective rent control if a market for the use of the property exists, so rent-controlled jurisdictions respond by making markets illegal. (And then they are shocked, shocked when they fail to clear.)