[RPPTL LandTen] YieldStar

[Leonard Cabral]

The problem I have is that the lease states that the rent will increase $100 a month at the end of the term. Then it mentions the YieldStar.  Tenants don't know what it is or that the rent could go more than $100.  I think it is misleading.  If there was no mention of the $100 increase in the lease I think the YieldStar would be ok.  I don't think there is a meeting of the minds at this point, (the lease does not state subject to change).
As far as what is wrong with it,  Probably nothing wrong with the program but there will be people that will use it to manipulate the market especially if the numbers are calculated using the owners' own properties to calculate the rent.
Leonard P. Cabral
Leonardcabral at lenslaw.com


From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Harry Heist
Sent: Tuesday, October 27, 2015 7:40 AM
To: 'RPPTL Landlord Tenant Committee' <landten at lists.flabarrpptl.org>
Subject: Re: [RPPTL LandTen] YieldStar

It is a company that helps apartment communities determine rents like airlines determine fares based on supply/demand etc.

There is nothing wrong with raising the rent on renewals or month to month.

Harry

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From: landten-bounces at lists.flabarrpptl.org<mailto:landten-bounces at lists.flabarrpptl.org> [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of Leonard Cabral
Sent: Tuesday, October 27, 2015 5:43 AM
To: RPPTL Landlord Tenant Committee
Subject: [RPPTL LandTen] YieldStar

Has anyone heard of YieldStar?
I have a client who has a lease that renews at the end of the term as a month to month with a $100 increase in rent or the YieldStar calculation.

If the YieldStar calculation for renewal enforceable?
Client has no idea what YieldStar is and was told her rent is going up almost $300 because of the YieldStar calculation.
I think there is another company called Goldstar.

Leonard P. Cabral, Esq.
212 North Park Ave.,
Sanford, FL  32771
Leonardcabral at lenslaw.com<mailto:Leonardcabral at lenslaw.com>
(407)330-4998

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