I own a piece of property near a railroad track. A small corner of my building in near the track so I lease 1,000 feet from the railroad.
When I bought the property in 1995 the lease was $50.00 per quarter. Then it went to $500 then $700 with a yearly 3% increase. This has gone on for a few years.
Now I just received an invoice with an 8% increase.
Is there anything I can do? I just sent them a letter asking the reason for the increase.
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315 Madison Avenue, 24th Floor
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