What is the max amt/% the rent can be raised at one time for commercial property?
There is no rent control on commercial properties. The owners can ask for as much as they believe they can get. That’s why many commercial tenants usually try to get the longest lease term possible, and month-to-month can be very risky. The owners probably just realized they should have increased the rent 5 years ago and are now trying to recoup losses. Remember, though, that everything is up for negotiation. Talk to them to see what you can work out. The owners won’t want a vacant storefront if they can help it. Good luck!
