Evaluating/Handling a 5 Year Rental Agreement in Ohio
As it turns out, a tenant in a property I have under contract is NOT on a month-to-month agreement. Instead, they are 2 years into a 5 year lease (2021-2026), signed with the owner prior to the current one that is selling. The rental agreement is under-market rent for the area by ~$400/month and my strategy would be to implement a rental increase or end the current agreement with the proper 30+ day notice. Getting this right is crucial to making this deal work. To the Ohio Attorneys, how do you interpret the attached two line items in the current agreement and whether I can with at least 30 days notice, increase the rent or end the agreement? The phrase "from either party" in line 15 seems to conflict with "written agreement of both parties" in line 17. Thanks.
