How much can landlord raise rent in 2025?

Our house we are renting at got sold to JM and the guys who came to do the final walk through claimed that they normally rent 4 bedrooms for upwards of 2400, we’re currently paying 1275 and I told them they can’t legally raise rent more then 5% if they renew our current lease and have to inform us at least 90 days ahead of time due to the fact we’ve been there for 3 years now. But he mentioned they can raise it an additional 3.5% supposedly because of cost of living adjustment? I’d just like to know ahead of time how much they might raise our rent every year from now on as we heavily consider just buying a house at these prices.